Press release
Automotive Catalyst Market Report 2023: By Market Trends, Demand And Analysis, Growth Oppoertunities And Key Segments By 2032
Automotive Catalyst Market
The Business Research Company's Automotive Catalyst Global Market Report 2023 identifies Government initiatives on emissions as the major driver for the Automotive Catalyst market's growth in the forecast period. The Indian government is focusing on several programmes or initiatives for controlling emissions into the atmosphere. Different types of catalysts, such as noble metal, base metal, and transition metal catalysts, are employed in automobile exhaust gas emissions controls.
The global automotive catalyst market size grew from $16.05 billion in 2022 to $17.24 billion in 2023 at a compound annual growth rate (CAGR) of 7.4% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the automotive catalyst is expected to grow to $22.57 billion in 2027 at a CAGR of 7.0% .
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Major competitors in the Automotive Catalyst market are BASF SE, Johnson Matthey, Umicore N.V, Tenneco Inc., Clean Diesel Technologies Inc., Cummins Inc., Ecocat India Pvt. Ltd.
A key trend in the Automotive Catalyst market includes technological advancements. Major companies operating in the automotive catalyst sector are focused on developing new technological solutions to strengthen their position. For instance, in March 2020, BASF, a German chemical company that includes automotive catalysts, launched Tri-Metal Catalyst technology in collaboration with Impala Platinum and Sibanye-Stillwater. This innovative new technology enables partial substitution of palladium with platinum, which reduces costs and helps avoid the deficits of palladium. Tri-Metal Catalyst adoption can lower catalytic converter costs for cars and partially rebalance market demand for PGMs, improving the sustainability of the PGM market and reducing costs while not making compromises with the emission standards.
Read More On The Global Automotive Catalyst Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-catalyst-global-market-report
The Automotive Catalyst market is segmented -
• By Product: Two-Way Catalytic Converter, Three-Way Catalytic Converter, Diesel Oxidation Catalyst
• By Raw Material: Rhodium, Platinum, Palladium
• By Application: Heavy-Duty Vehicle, Light-Duty Vehicle, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Automotive Catalyst market.
The Business Research Company's "Global Automotive Catalyst Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Catalyst Market Include:
1. Executive Summary
2. Automotive Catalyst Market Characteristics
3. Automotive Catalyst Market Trends And Strategies
4. Automotive Catalyst Market - Macro Economic Scenario
5. Automotive Catalyst Market Size And Growth
……………………………………………………………………………..
26. Africa Automotive Catalyst Market
27. Automotive Catalyst Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Catalyst Market
29. Automotive Catalyst Market Future Outlook and Potential Analysis
30. Appendix
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