- Emission Control Catalyst Market Analysis by Diesel Based
Emission Catalyst and Gasoline Based Emission Catalyst through
2034.
- The impact of the various moves over different periods of
time in the emission control catalyst market can be attributed in
the following ways:
- Short term (2024 to 2027): Demand for automotive
emission control catalyst solutions is expected to
increase at a healthy pace during this period. The demand is mainly
driven by various measures implemented to curb the rate of toxic
emissions from heavy-duty & light-duty vehicles and various
industrial facilities. However, due to the pandemic, the growth
rate is expected to be relatively lower during this period.
- Medium-term (2027 to 2030): With the UN coming into
the foray and laying out sustainable goals, technological
advancements are expected to surge the efficiency of this catalyst.
The focus would be mainly on containing nitrogen oxide and
hydrocarbons. Stringent emission regulations implemented across the
globe would compel manufacturers to emphasize their emission
control activities during this period.
- Long-term (2030 to 2034): Increasing production of
vehicles and marine vessels, coupled with the rising penetration of
automobiles would drive the market during this period. This would
be particularly visible across developing nations.
NEWARK, Del., July 22, 2024 /PRNewswire/ -- The global
emission control catalyst market size and forecast is
estimated to be valued at USD 13964.6
million in 2024 and further increase at a CAGR of
8.5% during the assessment period. Worldwide sales of
emission control catalysts are set to total USD 31707.5 million by 2034.
The global market for emission control catalysts is expected to
rise due to stringent regulations, rising environmental awareness,
and technological advancements. Emission control catalysts play a
crucial role in reducing harmful pollutants, and their efficiency
can be improved through recycling.
The prevalence of electric vehicles (EVs) may reduce the need
for catalysts. Valuable metals like platinum and palladium are
essential components, and fluctuations in metal prices can impact
production costs. As vehicles age, the demand for replacement
catalysts will likely increase, opening new opportunities for the
aftermarket segment.
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Governments' strict emission control regulations and public
concern for air pollution are driving demand for clean technologies
like catalytic converters. Emerging nations' increased vehicle
production will likely create a significant catalyst market. The
stationary source segment's growth is set to fluctuate, but sales
of advanced catalysts with improved efficiency and reduced
emissions are expected to surge.
Major factors contributing to the market growth are:
- Strict regulations are implemented by the government regarding
emission control.
- Measures were taken by the automotive manufacturers to cut down
carbon emissions.
- Rapid urbanization worldwide
Key Takeaways from the Market Report
- The global emission control catalysts market is set to reach
USD 31707.5 million by 2034,
with a CAGR of 8.5%.
- Based on product type, diesel-based emission catalysts
accounted for a market share of 79.4% in 2024.
- By application, mobile equipment is leading with a market size
of 65.4% in 2024.
- India is anticipated to record
a CAGR of 12.7% between 2024 and 2034.
- Sales in China are forecasted
to rise at a CAGR of 9.6% by 2034.
"The global market for emission control catalysts is
expanding as a result of strict regulations established to regulate
air pollution. Increasing concerns about the automotive industry's
decreasing carbon footprint are also set to push demand,"
Says Nikhil Kaitwade, Associate Vice President at
Future Market Insights (FMI).
How will Expanding Automotive Sector Affect Emission Control
Catalyst Sales?
Despite the unstable economic conditions, the global automotive
industry is anticipated to register sustainable growth in terms of
demand and sales backed by the growing adoption of diesel-engine
vehicles. This will create a positive outlook for the emission
control catalyst market.
The expansion of the automotive sector in emerging countries can
be attributed to the rising popularity of lightweight vehicles. The
demand for passenger vehicles also will continue rising in
India, China, Brazil, and other emerging markets, bolstering
the scope for increasing automotive production.
The increasing sales, steered by the growing population and
rising disposable income, will further provide lucrative
opportunities for emission control catalyst manufacturers.
Besides this, the implementation of stringent government
regulations will push sales of automotive telematics, emission
control catalysts, and other equipment often integrated to curb
vehicular emissions.
Which is the Primary Application of Emission Control
Catalyst?
In terms of application, the mobile equipment segment is
expected to show high demand due to increasing applications of
emission control catalysts in automobiles. Application of emission
control systems in passenger cars, lightweight and heavyweight
vehicles, two-wheelers, and three-wheelers will augment the market
growth.
Also, the implementation of stringent emission control laws in
several countries has compelled manufacturers to use advanced
emission control systems in the production of heavy-duty,
passenger, on-road and off-road vehicles. This is a key factor
bolstering the growth of the emission control catalyst market.
Based on the end user, the OEM segment has the highest market
share
Being a high-involvement product, the manufacturers would want
to take utmost care while purchasing emission control catalysts.
Apart from reducing emissions, the manufacturers ensure that the
efficiency of the engine doesn't come down because of deploying
ECC. This has led to a number of manufacturers depending on the
OEM.
Apart from that, the purchase from OEM ensures that the quality
of the catalyst is not all compromised. Moreover, these
manufacturers also provide extended warranty periods, which
increases the end user's confidence in the product. Finally, the
return on investment is much higher as the end users would be
implementing genuine catalysts.
Who is Winning?
Key players in the emission control catalyst industry, including
Aerinox-Inc., BASF SE, CDTi Advanced Materials Inc., Clariant, and
CORMETECH, are investing in creating durable, efficient catalyst
materials for precious metals. They are integrating machine
learning and simulation tools to optimize performance and predict
potential issues.
The industry is also focusing on automotive and industrial
sectors, developing customizable catalyst solutions for various
emission profiles. Collaboration with automakers and equipment
manufacturers is crucial for integrating these solutions.
Manufacturers are also collaborating with research organizations
and academic institutions to advance next-generation catalyst
technologies. Automation and digital tools are being used to
streamline production, reduce waste, and minimize energy
consumption.
Industry Updates
- Researchers from Northern Illinois
University, Valparaiso
University, and the United States Department of Energy's
(DOE) Argonne National Laboratory, in May
2024, found a family of catalysts that effectively
transforms CO2 generated from industrial emissions into commonly
used compounds.
- The CHASS project was implemented in November 2023 to improve the longevity and
effectiveness of Cu-CHA catalysts and enhance the environmental
impact of diesel vehicles.
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The top companies in the Emission Control Catalyst
are
Company
|
Johnson
Matthey
|
Description
|
Johnson Matthey is the
global leader in sustainable technologies. The company has been
applying cutting-edge solutions which make a difference in the
world. The company has been the industry leader for more than two
centuries, applying unrivaled scientific expertise by enabling
clean air. Johnson Matthey has been central in speeding up
transitions in transport, energy, and chemical production. Johnson
Matthey has always believed in protecting people and the planet and
acting with integrity. Apart from that, the company also believes
in maintaining strong collaboration within and outside the
company
|
Company
|
BASF SE
|
Description
|
BASF SE has been
creating suitable chemistry for the best possible future. The
company combines economic success with social responsibility. It
has been employing more than 110,000 people. The company has been
catering mainly the chemicals, materials, industrial solutions,
surface technologies, nutrition and care, and agricultural
solutions. The company strives to be the leading chemical company
for its customers. BASF SE has been making a decisive contribution
to change the world based on its expertise, entrepreneurial spirit,
and Verbund integration
|
Company
|
Umicore
|
Description
|
Umicore has been
providing the best in the company circular materials technology
with expertise in the field of science and metallurgy. The goal of
sustainable value creation is based on the ability to develop,
produce, and recycle materials. This helps the company work on its
mission materials for a better life. The company aims to be the
sustainability leader. While going in for zero, the company has
been closing gaps, connecting people, and empowering skills.
Zero is a combination of zero harm, zero inequality, and net
zero GHG emissions by 2035
|
Get More Insights into the Emission Control Catalyst Market
Report
In its latest report, Future Market Insights (FMI) offers an
unbiased analysis of the emission control catalyst market,
providing historical data from 2019 to 2023 and forecast statistics
for the period 2024 to 2034. To understand the industry potential,
growth, and scope, the industry is segmented based on metals
(platinum, palladium, rhodium, and other metals), product type
(diesel-based emission catalysts and gasoline-based emission
catalysts), end-use (automotive and industrial), catalytic
converter type (diesel oxidation catalyst, selective catalytic
reduction, lean NOx trap, three-way catalytic converter, and
four-way catalytic converter), application (mobile emission control
catalysts and stationary emission control catalysts), and region
(North America, Latin America, Western Europe, South Asia, East
Asia, Eastern Europe, and
the Middle East and Africa).
About the Chemicals and Materials Division at Future Market
Insights (FMI)
The chemicals and materials division of Future Market
Insights (FMI) offers a distinct and pinpoint analysis of the
chemicals and materials industry. This exhaustive coverage extends
from commodity, bulk, specialty, and petrochemicals to advanced
materials, composites, and nanotechnology in particular, with
special emphasis on 'green alternatives, recycling and renewable
technology developments, and supply-demand-trade assessment. Our
research studies serve as referencing industry guidelines for
chemical manufacturers, research institutions, channel partners,
and government bodies for developing – 'The Way Forward'.
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
Have a Look at Related Research Reports of Chemicals
& Materials
The emission control catalyst for small engines market valuation
to reach USD 1,524 million by
2033.
The emission control catalyst for motorcycle market is
expected to expand at a 6% CAGR from 2023 to 2033. The market size
is estimated to be valued at USD 3.46
billion in 2023 and is projected to rise to USD 6.20 billion by 2033.
The emission control catalyst for the marine
market size is projected to be valued at USD 998.19 million in 2023 and is expected to
rise to USD 1,673.01 million by 2033.
The sales of emission control catalysts for marine are expected to
thrive at a significant CAGR of 5.3% during the forecast
period.
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period.
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be USD 219.7 million in 2024.
Displaying a CAGR of 24.9% through 2034, the sector is slated to be
worth USD 2,028.8 million by the end
of the forecast period.
The global chlorine disinfectant market growth is expected
to reach USD 3,159.1 million in 2024
and grow at a CAGR of 5%, reaching a projected value of
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value is anticipated to rise at 3.8% CAGR. The industry is
predicted to increase from USD 9187.2
million in 2024 to USD 13340.1
million in 2034.
The global polyvinyl chloride (PVC) market is expected to
grow at a CAGR of 3.6% during the forecast period, reaching a
projected value of USD 100,115.7
million by 2034.
Over the forecast period, construction fabric demand is
anticipated to rise at 4.6% CAGR. Total industry value is predicted
to increase from USD 18,267 million
in 2024 to USD 28,761.2 million by
2034.
The elastomeric coating market size is
anticipated to reach USD 7874.8
million in 2024 and is expected to total USD 15760.5 million by 2034. The industry is
projected to witness a CAGR of 7.2% during the forecast period from
2024 to 2034.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the
Stevie Award, and a member of the Greater
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