"Rising government initiatives towards emission reduction coupled with technological advancement in emission control catalyst will boost the market."
The global emission control catalyst market is growing proficiently, projected to grow at a CAGR of 7.2% during the expected period from 2019 to 2027, starting from US$ 17.28 Bn in 2018.
Rising awareness toward reducing carbon footprints along with stringent government regulations for air pollution reduction is projected to impact emission control catalysts in the upcoming years positively. Additionally, regional emission regulation policies, such as Euro standards in European Union, National Ambient Air Quality Standards and California Ultra Low Emission Vehicle in the U.S., and Bharat Stage emission standards (India), have been restructured and significantly controlled the emissions. Moreover, numerous controls and mitigation measures towards automotive emissions is a major concern for automobile manufacturers. Numerous concepts, technological advancements and innovations, modifications, material selection, engine designing, and drivetrain have been employed to curb air emissions globally. For instance, the use of turbochargers, catalytic converters, engineering plastics, and lightweight body panels will significantly reduce emissions, thereby driving the market for emission control catalysts on a global scale. However, the higher cost of emission control technologies, concerns over health hazards associated with nickel, non-regulated emissions of hydrogen sulfide, and growth in the production of electric vehicle is projected to hinder the market growth.
Market Synopsis
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Metal Analysis
"Rapid growth in industrial activities coupled with increasing demand for decorative coating worldwide will spark market growth."
Rising demand for both metals "Palladium" and "Platinum" in the automotive industry, along with growing car production in emerging economies and tightening emission standards worldwide, have fuelled a steady growth in the use of catalytic converters.
Numerous auto manufacturers have significantly increased the application of palladium in catalytic converters, owing to its cost-effectiveness, higher recycling efficiency, and improved physical & chemical properties. Moreover, the growing use of platinum in hydrogen-based fuel cells to catalyze the electricity-producing conversion of hydrogen and oxygen into water has increased its usage in electric vehicles. However, the rising interchangeable use of these metals in non-diesel ICE cars is likely to fuel the demand for palladium in auto manufacturing industries in the upcoming years. In addition, increasing environmental concerns will drive demand for palladium and platinum metals as vital components of automotive catalytic converters. For instance, according to Johnson Matthey, precious metal management in 2017, the demand for palladium as an auto catalyst was around 238.8 kg on a global scale. The wide-scale use of palladium as auto catalysts in automotive industries is likely to be a market leader among other metals on the back of retiring growth in the worldwide production of gasoline vehicles.
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Regional Analysis
"Dominance is led by the rapid expansion of automotive sector coupled with rise in consumer disposable income to drive the global emission control catalyst market."
The Asia Pacific is expected to hold the largest market share of around 43% for the emission control catalyst market, owing to the growing investments in the industrial and automobile sector and the growing population across the region. In addition, rising consumer purchasing power has impelled the automotive industry's growth in the Asia Pacific. Therefore, the aforementioned factors are anticipated to drive the demand for emission control catalysts in the Asia Pacific over the forecast period. Furthermore, due to the rapid expansion base in the automotive industry, the extensive demand for automobiles from emerging economies such as China, Japan, and India, is likely to expand the market growth. For instance, Johnson Matthey 2017 expanded its auto-catalyst production facility in Shanghai, China. Furthermore, in order to meet the growing customer demand for automobiles, BASF has also developed a new production facility for emission catalysts in China.
Rising automobile production in the developing nations will drive the demand for emission control technologies like "ULTRA CATALYTIC Converters," "Two-way Catalyst," and "Three-way Catalyst," thereby promoting the utilization of emission control catalysts over the next few years.
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List of Companies Covered:
- Nett Technologies Inc.
- BASF Catalyst
- Johnson Matthey PLC
- Umicore
- Tenneco Inc
- Clariant AG
- Cataler Corp
- Haldor Topsoe A/S
- Aristo Intelligent Catalyst Technology
- DCL International Inc.
- Hitachi Zosen Corp
- NGK Insulators Ltd
- Sinocat Environmental Technology Co., Ltd.
- Zeolyst International
- Solvay SA
- Others
Key Industry Development:
- In March 2019, Johnson Matthey launched "Activ PDF," an automatically regenerated diesel particulate filter (PDF) system commonly used for stationary diesel engines. Moreover, the product will help in delivering clean energy without its dependency on a filter monitoring system, meeting the customer demand from the automobile industry.
- In May 2019, Corning Inc. inaugurated its new manufacturing facility center, "Hefei," a production unit of particulate filters and substrates required for controlling automotive emissions, along with meeting customer demand towards product lines like "Corning DuraTrap GC filters," "Gasoline Particulate Filter (GPF)."
- In December 2018, BASF catalyst extended its production facility by around 30,000 square meters for mobile emission in Shanghai, China. The facility will be able to meet the unceasingly rising demand for emission control catalysts.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.Segmentation
Metal Type (2017–2027; US$ Bn)
- Palladium
- Platinum
- Rhodium
- Others
Converter Type (2017–2027; US$ Bn)
- Diesel Oxidation Catalyst
- Lean Nox Trap
- Two Way
- Three Way
- Others
Application (2017–2027; US$ Bn)
- Industrial
- Automotive
- Chemical
- Oil & Gas
- Others (Mining, Power, etc.)
Geography Segment (2017–2027; US$ Bn)
- North America (U.S. and Canada)
- Europe (U.K., Germany, Spain, Italy, and the Rest of Europe)
- Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
- Rest of World (Middle East & Africa (MEA), Latin America)
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the overall emission control catalyst market better. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
