Emission Control Catalyst Market Revenue Analysis Report By 2024

The Emission Control Catalyst Market report discusses the primary market growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. This study also shows about the industry size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.

Industry 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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Main features of the report:

·         To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Emission Control Catalyst Market.

·         A complete backdrop analysis, which includes an assessment of the parent market

·         Important changes in market dynamics

·         Market segmentation up to the second or third level

·         To provide country level analysis of the market for segment by application, product type and sub-segments.

·         To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.

·         Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Emission Control Catalyst Market.

·         Emerging niche segments and regional markets

·         An objective assessment of the trajectory of the industry.

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.

Application Insights

Automotive was the dominant segment and accounted for 83.5% of the total volume in 2015. National Ambient Air Quality Standard in the U.S. and Bharat Stage Emission standard in India regarding emission control will increase demand for automotive and industrial emission control catalytic converter in the near future.

Industrial application is expected to show high gains at a CAGR of 4.9% in terms of volume from 2016 to 2024. Increasing industrial investment in manufacturing sector in various countries including India, China, Mexico and Thailand will augment industry size over the forecast period.

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.

Competitive Insights

Major manufacturers include BASF, Johnson Matthey, Solvay S.A., Umicore SA and Corning Incorporated. Fully developed R&D centers along with easy access to equipment in U.S., U.K. and Germany have led manufacturers to establish their manufacturing facilities in these countries, thereby capturing market share. As a part of business strategy, in March 2017, BASF launched mobile emission control catalyst manufacturing facility in Chennai(India) in order to meet the increasing demand for automobiles in India.

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