Press release
Emission Control Catalysts Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Emission Control Catalysts Market
The Business Research Company offers in-depth market insights through Emission Control Catalysts Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The emission control catalysts market size has grown rapidly in recent years. It will grow from $24.47 billion in 2023 to $27.19 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to stringent emission regulations, growth in vehicle ownership, increase in industrial emissions, increased public awareness, automotive industry growth.
The emission control catalysts market size is expected to see rapid growth in the next few years. It will grow to $41.24 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to green hydrogen production, industrial decarbonization, increasing renewable fuels, growing urbanization and air quality, increasing international agreements. Major trends in the forecast period include diesel emission control, zero-emission regulations, selective catalytic reduction (scr) technology, on-board diagnostics (obd) systems, use of integrated systems.
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Market Segmentation:
The main types of products in emission control catalysts are palladium-based ECC, platinum-based ECC, rhodium-based ECC, and others. Palladium-based ECC undergoes catalyst reactions and produces carbon-carbon bonds, which are used in electronic connectors. The different fuel types include diesel vehicles and gasoline vehicles. The various applications include mobile emission control catalysts and stationary emission control catalysts and are used in several areas, such as automotive and transportation, the chemical industry, the oil and gas industry, the mining industry, the power industry, and other end users.
Major Driver - Stringent Air Pollution Regulations Boost Demand For Emission Control Catalysts
Stringent regulations for controlling air pollution are significantly contributing to the growth of the market for emission control catalysts. Air pollution is mainly caused by rapid industrialization and urbanization, which are responsible for higher emissions in the environment. The governments are more concerned about the adverse effects of air pollution on public health and the environment, so they have implemented regulations to control air pollution, and this has increased the demand for the use of emission control catalysts in the exhaust systems of industrial machinery and vehicles. For instance, in September 2021, the World Health Organization established global air quality guidelines with the goal of saving lives and improving air quality due to pollution. These guidelines highlighted good practises to manage certain types of particulate matter, such as elemental carbon, particles originating from sand, ultrafine particles, and dust storms, to set air quality guideline levels. Therefore, the stringent regulations for controlling air pollution are expected to propel the growth of the emission control catalysts market going forward.
Competitive Landscape:
Major companies operating in the emission control catalysts market include BASF SE, Johnson Matthey plc, Clariant AG, Honeywell International Inc., Tenneco Inc., Cataler Corporation, Heraeus Holding GmbH, Bosal Industries Ltd., Innovative Emissions Control Inc., DCL International Inc., Albemarle Corporation, Interkat Catalyst GmbH, Royal Dutch Shell plc, Sinocat Environmental Technology Co. Ltd., Zeolyst International Inc., Umicore SA, Solvay S.A., Corning Incorporated, Hitachi Zosen Corporation, Kunming Sino-Platinum Metals Catalyst Co. Ltd., Nett Technologies Inc., NGK Insulators Ltd., Sinocat Environmental Technology Co.Ltd., Clean Diesel Technologies Advanced Materials Inc., Eberspaecher Group, Emitec Technologies India Private Limited, Faurecia India Pvt. Ltd., Hug Engineering AG, Katcon Global S.A. de C.V., Fabbrica Italiana Magneti Marelli, Walker Manufacturing Company, Yara International ASA
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Top Trend - Production Expansion Strategy Drives Emission Control Catalysts Market Growth
Major companies operating in the emission control catalysts market are focusing on production expansion to meet customer demand and gain a competitive edge in the market. The product expansion strategy helps companies increase their market share, improve their brand image, and enhance their profitability. Companies are investing heavily in research and development to develop new and innovative products that are more efficient, cost-effective, and eco-friendly. For instance, in July 2021, BASF SE, a Germany-based chemicals company, announced an investment in the expanded capacity of mobile emissions catalysts at its manufacturing plant in Chennai, India. The investment will nearly double the company's production capacity for mobile emissions catalysts for the heavy-duty on- and off-road segments. Moreover, it is a positive development for the Indian economy. It will create new jobs and generate investment in the country's manufacturing sector.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Emission Control Catalysts Market Characteristics
3. Emission Control Catalysts Market Trends And Strategies
4. Emission Control Catalysts Market - Macro Economic Scenario
5. Emission Control Catalysts Market Size And Growth
…..
27. Emission Control Catalysts Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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