Emission Control Catalyst Market worth $30.5 billion by 2024 | Key Players include BASF catalyst, Johnson Matthey, Umicore, Corning, Solvay and others

According to recent market research "Emission Control Catalyst Market by Metal Type (Palladium Platinum, Rhodium, and others), Application (Mobile Sources and Stationary Sources), Region (APAC, Europe, North America, MEA, South America) - Global Trends & Forecast to 2024", The ECC market is expected to grow from USD 21.0 billion in 2019 to USD 30.5 billion by 2024, at a CAGR of 7.7%. This growth can be attributed to the increasing demand for ECCs in passenger cars and light commercial vehicles across the globe. Also, the tightening of global emission standards and increasing stress on fuel efficiency is further anticipated to fuel demand in the ECC market.

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Based on metal type, the ECC market has been segmented into four types, namely, palladium, platinum, rhodium, and others. Palladium based ECC is mainly in demand in 2018 as it has the ability to maintain acceptable performance at sustained temperature for a lifetime. Also, the metal has a high tolerance of high temperatures better than other metals. It is more widely used in gasoline-based engines than in diesel engines. As palladium is less expensive than platinum, its usage is projected to increase gradually in the market during the forecast period.

APAC is the largest market for ECCs. Industrialization, growing population, and urbanization of APAC are boosting the ECC market. The major end-users of ECC in the region are light-duty vehicles (LDV), power plants, chemical plants, and motorcycles. The increasing use of ECC in passenger vehicles in the region is contributing to the growth of the automotive catalyst market. China is a key consumer of ECCs in the APAC. The demand from India and China is growing at an extensive rate because of the growing automotive base and the rapid expansion of the automotive industry in these countries. As a result, several leading players are expanding their manufacturing facilities in this region. For instance, in 2017, Johnson Matthey expanded its auto-catalyst production facility in Shanghai, China and in 2018 BASF, invests in new mobile emission catalysts production facility in China to meet customer demand.

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The emission control catalysts (ECC) market size is expected to grow from USD 21.1 billion in 2019 to USD 30.5 billion by 2024, at a CAGR of 7.7% during the forecast period. The major factors driving the market are the stringent emission standards implemented by governments across the globe and increasing aftermarket for catalytic converters.

The major players in the market include BASF Catalyst (Germany), Johnson Matthey (UK), Umicore (Belgium), Corning Incorporated (US), Tenneco (US), Clariant (Switzerland), Cataler (Japan), Heraeus (Germany), Haldor Topsoe (Denmark), Cormetech (US), IBIDEN (Japan), and INTERKAT (Germany). These players have adopted various growth strategies to expand their presence in the market further. New product launch, investment & expansion, and merger & acquisition have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global ECC market.

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BASF Catalyst (Germany) is the most significant player operating in the emission control catalyst market. The group has 30 manufacturing facilities worldwide and produces mobile as well as stationary emission catalysts for worldwide customers. The company has adopted new product launch and expansion strategies to broaden its product portfolio and maintain its position in the market. In December 2018, the company announced the construction of its new mobile emission catalyst production site in Shanghai, China. This expansion added 30,000 square-meters facilities which will include multiple manufacturing lines, providing a full range of emissions control technologies for heavy-duty and light-duty vehicle manufacturers.

The Johnson Matthey (UK) is one of the largest producers of ECC in the world. The company has manufacturing facilities in North America, Latin America, Europe, Africa, and Asia-Pacific. In recent years, Johnson Matthey has adopted several business strategies to strengthen its position in the market. It has adopted various growth strategies, including investment & expansion, and new product launch, to maintain its leading position in the ECC market. For example, in March 2019, it launched an innovative automatically regenerating ActivDPF diesel particulate filter (DPF) system for stationary diesel engines. This will help in delivering clean energy whenever needed. In August 2018, the company planned to construct a new 50,000 square-meter manufacturing facility for automotive catalysts in Zhangjiagang, China.

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