Automotive Catalyst Market Size, Demand, Technology Trends Analysis & Forecast to 2025

The global automotive catalyst market was valued at $22,601.5 million in 2017 and is projected to reach $31,815.7 million by 2025, registering a CAGR of 4.2% from 2018 to 2025.At present, Asia-Pacific dominates the market, followed by Europe, LAMEA, and North America. China dominated the global automotive catalyst market in 2017, while UK is expected to grow at a significant growth rate in Europe during the forecast period (2018 - 2025).

Factors such as emission control regulations by government and increase in the production of automobiles fuel the growth of the automotive market. Automobile manufacturers are producing vehicles with emission control technologies to meet the stringent regulations set to control pollution. However, rise in penetration and production of electric vehicles hinders the growth of the automotive catalyst market.

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In addition, high cost of platinum, palladium, rhodium, and other metals used as automotive catalysts restricts the growth of the market. Furthermore, government initiatives regarding emission control in the developing nations and innovation in emission technologies for fuel efficiency are anticipated to provide growth opportunities in the automotive catalyst market.

The key players operating in the global automotive catalyst market are BASF SE, Johnson Matthey, Umicore, Tenneco Inc., CDTi Advanced Materials, Inc., Cummins Inc., Eberspcher, Ecocat India Pvt. Ltd., Klarius Products Ltd., Clariant, and others.

Key Findings:

•The others segment in metal type generated the highest revenue in terms of revenue for the global automotive catalyst market in 2017.

•In 2017, gasoline segment was the highest revenue contributor in the engine category.

•The LAMEA region is anticipated to exhibit the highest CAGR during the forecast period.

•In 2017, the Asia-Pacific contributed the highest market revenue, followed by Europe, LAMEA, and North America.

Top Impacting Factors:

Emission control regulations by government-

The governments of several countries have established stringent regulation for pollutant gas emission from the vehicles because of combustion of fuels such as diesel fuel, fuel oil, petrol, gasoline, biodiesel, and others. Euro 6 is the latest emission regulation by European Union directive to reduce harmful gases such as carbon monoxide (CO), nitrogen oxide (NOx), hydrocarbons, and others from the exhaust system of the vehicle. Similarly, automotive catalyst is used in catalyst converter, an emission control device used to convert toxic and harmful gases from engines into less-toxic pollutants. The catalyst also adheres to the vehicle emission standards. Thus, strict emission standards by government fuels the growth of the automotive catalyst market.

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Increase in Automobile production-

The developing nations have witnessed a surge in demand and production of automobiles. For instance, India became the fourth largest automobile industry in the world with the increase in sales of 9.5% year-on-year to 4.2 million units. This rise in automobile production in developing nations automatically leads to increased production in demand for automotive catalysts for emission control devices in automobile exhaust systems. Therefore, increase in automobile production is anticipated to boost the growth of the automotive catalyst market.

Growth in production of electric vehicles-

In recent years, there is a significant increase in the demand and production of electric vehicles, as these vehicles have several advantages over fuel-powered automobiles. Components, such as fan belts, oil, air filters, head caskets, timing belts, cylinder heads, and spark plugs does not require replacement, which in return makes it cheaper and efficient compared to fuel-powered automobiles. This makes electric vehicle a preferred choice, which in return restraints the growth of the fuel-powered automobile markets. Thus, increase in production of electric vehicles hinders the growth of the automotive catalyst market.

Key Segments:

By Metal Type

•Platinum
•Palladium
•Rhodium
•Others

By Engine type

•Gasoline
o3-way
o4-way

•Diesel

oDiesel Oxidation Catalyst (DOC)
oDiesel Particulate Filter (DPF)
oSelective Catalytic Reduction (SCR)

By Vehicle

•Passenger Car
•Light Commercial Vehicle (LCV)
•Heavy Commercial Vehicle (HCV)
•Motorcycle

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