Global Emission Control Catalysts Market, Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Forecast to 2029
“Global Emission Control Catalysts Market” is a recently produced report by MarketResearch.biz. In-depth insights, revenue details, and other vital information related to the global market, along with various trends, drivers, restraints, opportunities, and threats are included. Profiles of the key players operating in the market, along with revenue and financials, key developments, strategies, acquisitions & mergers, and market footprint is also included. The global emission control catalysts market has been segmented on the basis of product, application, and region.
Emission control catalysts, also known as exhaust emission control devices, are essential parts of vehicles today, which are powered by internal combustion engines mitigating various harmful effects of pollutants in the exhaust including hydrocarbons, carbon monoxide, particulate matter, and nitrogen oxides. Emission control catalysts reduce pollutants and toxic gases in exhaust gases that come out of an internal combustion engine. Emission control catalysts are also used in some wood stoves for controlling emissions. According to sources of emission, there are two types of emission control catalysts. They are emission control catalysts for stationary sources and for mobile sources (such as automobile catalysts). The mobile emission catalyst segment is larger. The stationary emission catalyst market is smaller compared to the mobile emission catalyst segment. Main processes applied in stationary emission control catalysts are catalytic oxidation, selective catalytic reduction (SCR), and catalyzed traps/filters. Advanced emission control catalysts are currently very essential to control increasing environmental and air pollution.
The major factor driving growth of the global emission control catalysts market is growing awareness regarding reducing carbon footprints especially in the automotive sector adhering to regulations by governments to control pollution. In order to reduce content of harmful pollutants in environment, emission control catalyst in industrial machinery and transportation vehicles breaks down solid particulates in engine exhaust systems. Thus, various regional emission regulation policies such as Euro standards in Europe, National Ambient Air Quality Standards in the USA, and Bharat Stage emission standards in India restructure and control emission control catalysts market for controlling air pollution due to various application areas. Leading automotive manufacturers such as BMW, General Motors, Ford Motors, and Volkswagen have recently increased expenditure on installation of catalytic converters of finished products. This trend is expected to increase demand for emission control catalysts in the global emission control catalysts market over the forecast period. In addition, growing production of automobiles in developing countries such as Mexico, India, China and Iran to cater to the increasing requirement from consumers for vehicles coupled with favorable policies from governments is expected to further increase demand for emission control catalysts in the global emission control catalysts market during the forecast period. Moreover, high growth of the global automotive and industrial sectors is expected to fuel growth of the global market.
Global Emission Control Catalysts Market Segment Analysis:
By Product: Among the product segments, the rhodium segment accounts for highest revenue share currently, and is expected to continue its dominance over the forecast period. This is attributed to its wide use in removing nitrogenous oxide included in exhaust emissions from automotive engines. Moreover, rhodium metal is very useful in exhibiting properties such as excellent thermal stability and high corrosion resistance as compared to various other metals.
By Application: Among the application segments, the automotive segment is projected to continue to account for highest revenue share, and is expected to maintain its dominance over the forecast period, which is attributed to increasing demand for catalytic converters for controlling emission. Emission from automobiles contains carbon dioxide, carbon monoxide, nitrous oxides, and other hazardous gases, which are harmful to environment. Thus, stringent regulations from governments to control pollution are expected manufacturers to increase the usage of emission control catalysts over the forecast period.
Global Emission Control Catalysts Market Regional Analysis:
The Asia Pacific emission control catalysts market is projected to continue to maintain its dominance in terms of significantly high revenue share and is expected to continue its dominance over the forecast period. Growth of the market in the region is attributed to increasing manufacture of automotive in countries such as Japan, China, South Korea, and India in the region.
Global Emission Control Catalysts Market Segmentation:
By Process Type:
- Selective Catalytic Reduction
- Non-selective Catalytic Reduction
- Diesel Particulate Filters
- Catalytic Oxidation
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Johnson Matthey
- Cormetech Inc.
- Hitachi Zosen Corporation
- CATALER CORPORATION
- BASF SE
- Solvay S.A.
- Umicore SA
- Corning Incorporated
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