Emission Control Catalyst Market Drivers, Regional Outlook and Business Development Analysis till 2024

San Jose, California , USA, Aug 23, 2021 — /EPR Network/ —

The Emission Control Catalyst Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

Global emission control catalyst market size was 1,978 kilo tons in 2015. Rising awareness towards reduction of carbon footprints along with stringent norms implemented by government towards reduction of harmful pollutants from industries and automotive combustion will create substantial demand for these catalyst in the near future.

Emission control catalyst are designed to breakdown harmful particles which are generated inside exhaust system of automotive engines and industrial machinery. Rising number of installation of catalytic converter by major automotive players including BMW, General Motors, Volkswagen and Ford Motors will create immense market potential over the forecast period.

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Increasing automobile production in developing countries including China, India, Mexico and Iran will increase the product demand over the next eight years. Presence of strict regulation norms regarding emissions in various developed countries including the U.S., and UK is expected to fuel product demand over the forecast period.

High dependence on temperature fluctuation for the product performance is expected to pose a challenge to the market growth over the forecast period.

Volatility in platinum based catalyst prices owing to unavailability of noble metals is anticipated to hinder industry expansion over the upcoming years. Increasing investments in platinum-rhodium-palladium based manufacturing facilities by key players including BASF and Johnson Matthey will open new market avenues over the upcoming years.

Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

• Palladium
• Platinum
• Rhodium
• Others

Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

• Automotive
• Industrial
• Others

Top Players Analysis covered in these report

• BASF
• Johnson Matthey
• Solvay S.A
• Umicore SA
• Corning Incorporated

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Regional Insights

Asia Pacific was the largest market and accounted for 32.9% of the overall volume in 2015. Large vehicle manufacturing base in India, Thailand, Japan, South Korea, Malaysia and China owing to increasing population will augment market growth. Availability of cheap raw material in countries including China and India is expected to fuel investment in these countries.

Growing number of power plants and diesel engines in various countries including India and China is expected to promote industry expansion over the upcoming years.

Europe is expected to grow at a CAGR of 4.3% from 2016 to 2024. Europe has established itself as a lucrative market for emission control catalyst. Fully developed industrialization has been a major driver. In order to reduce emission of carbon gas in over 11,000 power stations and manufacturing units in 31 countries of the region, European Commission has implemented the EU Emission Trading System (EU ETS) in the year 2005, which in turn will create growth opportunities.