Sales Revenue Of Selective Catalytic Reduction (SCR) Catalyst Market To Increase In Coming 10 Years On Back Of Rapid Adoption Across Major Industries : Fact.MR

The Selective Catalytic Reduction (SCR) Catalyst Market refers to the market for catalysts used in the SCR process, which is a technology used to reduce nitrogen oxides (NOx) emissions from diesel engines and power plants. The SCR catalysts work by converting harmful NOx emissions into harmless nitrogen and water vapor through a chemical reaction. The SCR technology is widely used in the automotive industry, as well as in power generation, marine, and other industries that emit NOx. The market for SCR catalysts is driven by factors such as increasing demand for clean energy and government regulations aimed at reducing emissions

The global SCR catalyst market is expected to continue to grow in the coming years, driven by increasing investments in clean energy and advancements in technology that make SCR catalysts more efficient and cost-effective. However, the market is also faced with challenges such as competition from alternative technologies and concerns over the environmental impact of SCR catalyst production and disposal. Overall, the SCR catalyst market plays a crucial role in reducing NOx emissions and promoting sustainable energy practices

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Key takeaways

• Stringent norms to limit emissions of NOX will positively impact the growth of the SCR catalyst market.
• Due to the efficacy to maximise the operational flexibility of furnaces and with minimal or no gas reheat, SCR catalysts have become the ideal emission reducing technology in petroleum refineries.
• On the basis of type, De-NOX SCR catalyst technology has remained the primary choice among end users and accounted for nearly three-fourth of the global selective catalytic reduction catalyst market share in 2019.
• Power plants have remained largest consumers of SCR catalysts among all the applications, and are set to surpass a market valuation of US$1.5 billion by the end of 2030.
• Attributed to China’s huge coal power plant industry and renewable energy industry, East Asia has led the consumption of SCR catalysts, accounting for nearly one-third of the global market.
• With import-export restrictions in place due to the COVID-19 pandemic, the procurement of raw material has become an issue, which is stunting the growth of the SCR catalyst market.

Key Approach of Market Players

• Johnson Matthey and Kebotix announced a collaboration in 2021 to create the newest catalytic converter coatings. The partnership will investigate cutting-edge strategies to increase the efficacy of tests that result in the formulation optimization of coatings for catalytic converters.
• With improved dependability and efficiency, Haldor Topsoe introduced the TITAN steam reforming catalyst series in February 2020.

Key Companies Profiled

• BASF
• Ceram-Ibiden
• Cormetech
• Envirotherm GmbH
• Fengye Group
• Hailiang
• Haldor Topsoe
• Hitachi Zosen
• JGC C&C
• Johnson Matthey
• Seshin Electronics
• Tuna Corporation

Expansion of production capacity and sales footprint in China to uplift market growth

SCR catalyst manufacturers have strengthened their ties in Asia Pacific in response to efforts to reduce NOX and other harmful pollutants released by heavy-duty diesel vehicles, industries, and other sources. In order to improve their market position, major players have engaged in long-term supply agreements and strategic partnerships. For instance, in March 2020, BASF developed and successfully tested a novel Tri-Metal Catalyst technology that can help automakers lower the cost of catalytic converters. Similar to this, Johnson Matthey introduced their groundbreaking ActivDPFTM diesel particulate filter system for stationary diesel engines in March 2019. The market players’ aforementioned strategic moves will increase their sales, which will lead to high revenues in the selective catalytic reduction catalyst market space.