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The Global Emission Control Catalysts Market size is estimated to grow by USD 4,240.52 million accelerating at a CAGR of 6.25% between 2023 and 2027. This emission control catalysts market report extensively covers market segmentation by Application (mobile emission and stationary emission), Type (palladium, platinum, and rhodium), and Geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.25% |
Market growth 2023-2027 |
USD 4,240.52 million |
Market YoY |
Fragmented |
YoY growth 2022-2023(%) |
5.12 |
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Environmental concerns and measures to curb pollution is a major factor boosting the market growth. Automobile emissions have significant environmental and health impacts, leading to ozone depletion and the greenhouse effect. Green certifications like LEED are being integrated into planning and design to reduce greenhouse gas emissions. Advanced equipment and sustainable systems are expected to promote eco-friendly solutions for both stationary and mobile emissions sources worldwide.
Despite industry opposition, stringent emission regulations have been enacted, continually tightening over time to combat pollution. For instance, the Air Resources Board (ARB) has established strict emission standards for passenger cars, boosting the use of efficient catalytic converters. Some regions, like California, tie car registration to smog checks that limit CO, HCs, and NOx emissions. These developments are set to drive demand for Emission Control Catalysts (ECCs) and fuel market growth in the forecast period.
Increased demand for selective catalyst reduction (SCR) catalysts is a key trend shaping the market. Selective Catalytic Reduction (SCR) Emission Control Catalysts effectively remove NOx in an oxidative environment and enable the targeted reduction of NOx while also oxidizing ammonia. The demand for SCR technology is anticipated to rise in light of past instances involving manipulation of automotive software. SCR involves injecting a liquid reducing agent, typically automotive-grade urea (known as diesel exhaust fluid or DEF), into a diesel engine's exhaust with the aid of a catalyst.
However, automobile manufacturers have been hesitant to adopt SCR technology in diesel vehicles due to the additional space requirements under the hood and the need for an extra tank to hold reducing agents, necessitating refills. Achieving emission control targets, managing diesel consumption, and optimizing engine power necessitate more than just oxidation catalysts. Consequently, there is an expected surge in demand for SCR catalysts in diesel vehicles, driving market growth in the forecast period.
Energy-intensive nature of platinum processing is a major challenge hindering the market. Converting platinum ore into pure platinum is an energy-intensive process that elevates manufacturing costs. It takes approximately six months and 10-12 tons of ore to produce just one troy ounce of pure platinum. The procedure involves crushing the platinum-containing ore, immersing it in water, and introducing air to make platinum particles bond with oxygen and rise to the surface. After drying, the ore is heated at 2,732 degrees F in electric furnaces with blown air to remove impurities like iron and sulfur. Subsequent steps employ electrolytic and chemical methods to extract copper, cobalt, and nickel.
The result is a mixture with a 15%-20% concentration of platinum group metals (PGMs). Separating platinum from this mixture involves complex reactions using nitric and hydrochloric acids, culminating in the production of pure platinum. These intricacies are expected to impede market growth in the forecast period.
The mobile emission segment will account for a major share of the market's growth during the forecast period.? The growing popularity of diesel-powered vehicles primarily using platinum-based automotive catalysts is driving the demand for emissions control catalysts (ECCs). Furthermore, growth in environmental conservation and restoration activities is expected to be the main driver of market growth in this segment. Despite supply constraints and increasing prices, demand for ECCs in this segment is expected to grow at a good rate.
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The mobile emission segment was valued at USD 9,145.29 million in 2017 and continued to grow until 2021.? The automotive industry will be a major contributor to the significant growth of the global emission control catalysts market. Automakers focus on delivering technologically advanced emission control catalysts and innovative technologies to stay ahead of their competitors. Several governments around the world have implemented strict regulations to reduce and control engine emissions and harmful emissions to protect the environment. In addition, the relatively higher demand for direct-injection gasoline engines compared to other engine types will also support the market growth during the forecast period.
Type Analysis
Based on type, palladium segment holds the largest market share. The market is categorized into palladium, platinum, and rhodium based on type, with the palladium segment expected to hold the largest share. Palladium, a rare metal with a shiny silvery-white appearance, finds extensive use in automotive, jewelry, and various industrial applications. Its role as an Emission Control Catalyst (ECC) is pivotal in enhancing the efficiency and eco-friendliness of modern automobiles.
Environmentally conscious innovations like catalytic converters and fuel cells have spurred the development of palladium catalysts in automotive contexts. Increased production of cars, especially diesel models by Indian and Chinese OEMs, has been a major driver of palladium consumption as ECC. Technological advances in nuclear chemistry and reactor manufacturing are poised to boost palladium supply, contributing to the growth of the global emission control catalysts market in the forecast period.
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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC's ECCs market is thriving due to its strong demand for gasoline and diesel vehicles in 2022, with key automotive markets and manufacturing hubs in Japan, South Korea, China, and India experiencing significant production growth. To combat emissions, stringent standards have been implemented across the region. APAC also boasts a growing market of first-time vehicle buyers, focusing on SUVs, sedans, hatchbacks, and crossovers, driven by rising per capita income and purchasing power.
Global automakers are shifting production to APAC, further propelling market growth, with China, Japan, India, South Korea, and Thailand leading in revenue generation. Stringent emission regulations are a driving factor, and the region's rapid economic development, especially in ASEAN countries, contributes significantly.China follows strict emission standards, with major cities adhering to Euro-like regulations. India adopted Bharat Stage emission standards. Electric vehicle (EV) sales have surged in APAC, notably in China and Japan, with India and ASEAN countries also promoting EVs. However, this trend may impact the ECCs market negatively in the region during the forecast period.
The ECCs market in APAC faced a setback in 2020 due to the COVID-19 pandemic. Countries like India, China, and Japan imposed nationwide lockdowns, disrupting industrial manufacturing and transportation. This had a knock-on effect on automotive manufacturing, leading to reduced vehicle sales. However, recovery started in 2023 as vaccination efforts gained momentum in the region. The increasing automotive production in APAC offers growth prospects for the regional market in the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aerinox-inc- The company offers medical terminology software such as health information systems that supports the entire journey from patient visit to payment.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Ashland Inc., BASF SE, Catalytic Combustion Corp., CDTi Advanced Materials Inc., Clariant International Ltd., CORMETECH Inc., Cummins Inc., DCL International Inc., DieselNet, Evonik Industries AG, Topsoes AS, Honeywell International Inc., Ibiden Co. Ltd., Johnson Matthey Plc, S and P Global Inc., Solvay SA, Toyota Motor Corp., Tenneco Inc., and Umicore SA
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The emission control catalysts market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Emission Control Catalysts Market Report Attributes |
|
Report Attributes |
Details |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 53% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AeriNOx Inc., Ashland Inc., BASF SE, Catalytic Combustion Corp., CDTi Advanced Materials Inc., Clariant International Ltd., CORMETECH Inc., Cummins Inc., DCL International Inc., DieselNet, Evonik Industries AG, Topsoes AS, Honeywell International Inc., Ibiden Co. Ltd., Johnson Matthey Plc, S and P Global Inc., Solvay SA, Toyota Motor Corp., Tenneco Inc., and Umicore SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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