Press release
Emission Control Catalyst Market 2018-2024: Leading Key Players Umicore SA, Johnson Matthey PLC, Solvay SA, DCL International Inc., Cataler Corporation, Cormetech Inc, Clariant International Ltd., Aerinox Inc.
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Emission Control Catalyst Market size is set to grow exponentially to 2024 due to its usage in internal combustion engines to reduce the release of harmful pollutants into the environment along with its applications in automotive industry as it helps to break down the solid particulates present in engine exhaust system of transportation vehicle.
The market growth is further attributed by the tightening environmental regulations regarding the harmful emissions from the automobiles. Majority of the governing bodies of both developed and developing economies are imposing strict regulations regarding the control of emissions from automobiles. For instance, Environmental Protection Agency (EPA) one of the regulatory body of European commission, had devised stringent regulatory norms for reducing vehicle emission. It devised, an act under code of federal regulations citations 40 CFR Part 79 to control of air pollution from motor vehicles.
European region comprises of six prominent automotive companies namely, Daimler AG, Volkswagen, Audi, BMW and Opel which have witnessed 0.5% growth in production by 2016, complementing the growth of emission control catalyst. France is second highest automobile manufacturer with 5.6% growth in terms of production during 2016. Environmental policies of federal governments in the European region, coupled with foreign direct investments for automotive industry is augmenting the market demand for emission control catalyst product in automotive industry.
Asia pacific economic development plans to revolutionize industrial sector. For instance, India government have initiated Make in India program to enhance industrial development, which had attracted foreign direct investment of over USD 70 billion by the end of June 2017. In addition, government have implemented certain reforms to liberalized FDI polices, improved business environment and offered simplified tax structure to stimulate industrial growth. In July 2017, China have implemented revised foreign investment cataloged, to encourage foreign direct investment in industrial sector. Industrial growth strategies in Asia pacific is likely to drive the global emission control catalyst market over the projected timeframe.
This market is restrained by the introduction of electric vehicles. The support from the governing bodies to develop the electric vehicles may give more restraint the market growth in future. For instance, Government of China had released Automotive Mid and Long Term Development Plan by April 2017, which aims to develop electric vehicles. Replacement of fuel based automotive vehicle with electric battery vehicle will eliminate the application of emission control catalyst, thus negatively impacting market growth in coming years.
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Top key players:
The leading market players of the industry are BASF Catalysts LLC, Umicore SA, Johnson Matthey PLC, Solvay SA, DCL International Inc., Cataler Corporation, Cormetech Inc, Clariant International Ltd., Aerinox Inc. and others. Eminent market player of the industry holds strong developmental strategies for expansion of its business beyond regional terrains in coming years. Likewise, many companies have their own raw material divisions along with product manufacturing facilities. Some of the important manufacturers also enter into partnership or agreement with end-user industries for gaining sustainable benefits and profits. Such partnership helps to enhance relationship with various end-user clients that helps to achieve competitive advantage.
Market share calculation in this report is not done based on companies covered in it. The calculation of emission control catalyst market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
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