Automotive Emission Control Catalyst Market Size ,Share, Global Business Growth, Demand and Applications Forecast to 2027

The global automotive emission control catalyst market is expected to expand at a rapid pace during the forecast period, owing to rising application areas such as automotive, industrial and the stringent emission regulations due to increased concern over environmental pollution are key factors driving the growth of the global automotive emission control catalyst market. Automotive emission control catalysts are used to breakdown the harmful pollutants in the exhaust system of an automotive vehicles to release less harmful pollutants into the environment. It is used in the exhaust system of vehicles to control the emission of harmful gases, which includes hydrocarbons, carbon oxides, nitrogen oxides, and other particulate matter, into the atmosphere. The European Union countries such as Europe, U.K. have established emission control standards to control release of pollutant from vehicles into the atmosphere. This is factor is likely to drive the global automotive emissions control catalyst market during the forecast period.

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Key Drivers of Automotive Emission Control Catalyst Market

* The automotive emission control catalyst market is anticipated to expand at rapid growth, due to the stringent emission regulations and increasing concerns over the environmental pollution. Automobiles is the largest market for automotive emission control catalyst, due to the rapid growth in car sales and strict emission standards.

* Automotive emissions control catalyst helps to convert harmful gases into less toxic gases such as nitrogen and carbon dioxide. Platinum, palladium, rhodium, and other expensive metals are used as catalysts in automobile vehicles, which increases the cost of the automotive catalyst. However, manufacturers are inclined towards adopting technologically advanced nanotechnology to enable them use expensive metals efficiently.

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Palladium Segment to Offer Attractive Opportunities

* The palladium segment constituted major share of the global automotive emission control catalyst market in 2018. The segment is anticipated to expand at a significant pace during the forecast period due to its rising uses in the catalytic converters for heavy duty and light duty vehicles and also in the marine and locomotive industry.

* Palladium is widely used an oxidation catalyst in diesel catalytic converters in the past few years. It is more widely used in gasoline auto catalysts or petrol-based engines due to its excellent properties such as low melting point and ductility.

* Based on application, the automotive segment comprises of largest market share in 2018. The developing nations have constantly rising production of automobile vehicles. According to the Society of Indian Automobile Manufacturers (SIAM), 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 by 2020. 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 emission control catalyst market.

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High Prices is Likely to Hamper Market

* Automotive emission control catalyst market is mainly affected by the growing production of electric vehicles. Furthermore, high cost of precious metals such as palladium, platinum and rhodium used in automotive catalyst hinders the growth of the market.

* The market is also affected by the factors such as dependence of performance on temperature and loss of activity through poisoning and thermal deactivation which is hindering the growth of the market. However, several government are taking initiatives regarding environment protection and innovation in emission technologies for fuel efficiency which is anticipated to provide growth opportunities to the automotive emission control catalyst market.

Europe Expected to Hold Major Share of Global Automotive Emission Control Catalyst Market

* In terms of value and volume, Europe dominated the global automotive emission control catalyst market in 2018. The region is likely to remain highly lucrative during the forecast period, due to rising stringent regulations implemented by the European Commission for the reduction of carbon emissions. For instance, Euro 6, European emission standards is a European government initiative for emission control in the European region.

* Asia Pacific is the fastest growing region for the automotive emission control catalyst market due to the presence of several automotive manufacturing facilities in China, India, South Korea and Japan.

* Latin America is also the key region for the market due to rising investment in automobile sector in the region. Countries such as Iran, Taiwan, and Mexico the automobiles production has increased, the government policies are also favorable, and there is also increase in the domestic consumption of vehicles in these countries thus driving the automotive emission control catalyst market.

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