Press release
Emission Control Catalysts Global Market Report 2024 - By Report, Size, Share, Report, Forecast To 2033
Emission Control Catalysts Market
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.
Market Overview -
The emission control catalysts are used to control the harmful pollutants generated by combustion engines. Emission control catalysts break down the solid particulates from exhaust systems of industrial machinery and vehicles to reduce the content of pollutants generated into the environment. Emission control catalysts are simple and offer low-maintenance operation, durability, a relatively low cost, and negligible adverse effects on the engines.
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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
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.
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Key Segments -
The emission control catalysts market covered in this report is segmented -
1) By Product: Palladium-based ECC, Platinum-based ECC, Rhodium-based ECC, Other Products
2) By Fuel Type: Diesel Vehicles, Gasoline Vehicles
3) By Application: Mobile Emission Control Catalysts, Stationary Emission Control Catalysts
4) By End User: Automotive and Transportation, Chemical Industry, Oil and Gas Industry, Mining Industry, Power Industry, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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