Automotive Catalyst market – Global Industry Analysis and Forecast (2018-2026)
Automotive Catalyst market is estimated to reach US$ 16.03 Bn by 2026, at a CAGR of 5.34% from US$ 11.30 Bn in 2017.
Automotive catalysts are substances used in automotive exhaust systems to convert automotive exhaust gases into less dangerous substances. Automotive exhausts contain various toxic and greenhouse gases such as oxides of nitrogen and sulfur. Automotive catalysts react with these gases as they pass through the vehicles exhaust system and convert them into non-toxic and environmentally feasible substances. The increase in public support for the protection of the environment is estimated to drive the global automotive catalyst market at a remarkable pace in the upcoming years.
One of the important factors driving the growth of the automotive catalyst market is the increase in emission standards. Harsh emission control standards in emerging countries in the Asia Pacific and South America to reduce environmental pollution are expected to drive the automotive catalyst market. However, growth of electric vehicles can diminish the growth of the automotive catalyst market in emerging economies.
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Rise in environmental concerns owing to the harmful emissions emitted from automobile coupled with harsh environmental regulations in this regard has led to the incorporation of technologically advanced automotive catalyst in automobiles. The demands for vehicles in emerging economies have been boosted by the increase in purchasing power of consumers. Most modern vehicles have in-built exhaust purification units, increase in the demand of the automotive catalyst market.
Automotive catalyst market is segmented into application, type, and region. On the basis of application, light-duty vehicles include passenger vehicles or light-duty commercial vehicles that are fuelled either by gasoline or diesel. The overall global market for light-duty vehicles is projected to progress on account of the increase in population and the growing per-capita purchase of automobiles. Heavy-duty vehicles are mostly diesel-powered and require larger Platinum Group Metals content to convert harmful exhaust gases into less noxious gases in comparison to other vehicles.
Based on the type, the palladium segment is projected to account for the largest share of the automotive catalyst market in 2017. Palladium is used as an oxidation catalyst. Palladiums use as a catalyst has grown in importance in recent years driven by factors, such as the increase in automotive sales and growing regulations on emissions. It is extra widely used in gasoline-based engines than in diesel engines. As palladium is less expensive than platinum, its usage is estimated to increase gradually in the automotive catalyst market during the forecast period.
In terms of region, automotive catalyst market in the Asia-specific region is estimated to be the largest during the forecast period. China is a key consumer of automotive catalysts in the Asia-specific region. The increase in use of automotive catalysts in passenger vehicles in the region is contributing to the growth of the automotive catalyst market.
Key Players Profiled and Analysed in the Report:
BASF, Johnson Matthey, Umicore, Cataler, Cummins, Heraeus, INTERKAT, Tenneco,Clean Diesel Technologies, Corning, DCL International, Faurecia, IBIDEN, N.E CHEMCAT, Sinocat Environmental Technology, Solvay, and Wuxi Weifu International Trade.
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Scope of the Automotive Catalyst market Report:
By Application
• light duty vehicles-diesel
• light-duty vehicles-gasoline
• heavy-duty vehicles
By Type
• Platinum
• Palladium
• Rhodium
By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in Automotive Catalyst Market
• BASF
• Johnson Matthey
• Umicore
• Cataler
• Cummins
• Heraeus
• INTERKAT
• Tenneco
• Clean Diesel Technologies
• Corning
• DCL International
• Faurecia
• IBIDEN
• N.E CHEMCAT
• Sinocat Environmental Technology
• Solvay
• Wuxi Weifu International Trade
MAJOR TOC OF THE REPORT
Chapter One: Automotive Catalyst Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Automotive Catalyst Market Competition, by Players
Chapter Four: Global Automotive Catalyst Market Size by Regions
Chapter Five: North America Automotive Catalyst Revenue by Countries
Chapter Six: Europe Automotive Catalyst Revenue by Countries
Chapter Seven: Asia-Pacific Automotive Catalyst Revenue by Countries
Chapter Eight: South America Automotive Catalyst Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Automotive Catalyst by Countries
Chapter Ten: Global Automotive Catalyst Market Segment by Type
Chapter Eleven: Global Automotive Catalyst Market Segment by Application
Chapter Twelve: Global Automotive Catalyst Market Size Forecast (2019-2026)
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