PUBLISHER: The Business Research Company | PRODUCT CODE: 1391195
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391195
“Emission Control Catalysts Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on emission control catalysts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for emission control catalysts? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The emission control catalysts market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Emission control catalysts play a crucial role in mitigating harmful pollutants generated by combustion engines. These catalysts are designed to break down solid particulates from the exhaust systems of industrial machinery and vehicles, reducing the release of pollutants into the environment. Emission control catalysts are characterized by their simplicity, low-maintenance operation, durability, relatively low cost, and minimal adverse effects on engines.
The primary types of emission control catalyst products include palladium-based ECC, platinum-based ECC, rhodium-based ECC, and others. Palladium-based ECC undergoes catalyst reactions, producing carbon-carbon bonds that find applications in electronic connectors. Fuel types associated with emission control catalysts encompass diesel vehicles and gasoline vehicles. These catalysts are utilized in various applications, including mobile emission control catalysts and stationary emission control catalysts. These applications span across diverse sectors, such as automotive and transportation, the chemical industry, the oil and gas industry, the mining industry, the power industry, and other end-user segments.
The emission control catalysts market research report is one of a series of new reports from The Business Research Company that provides emission control catalysts market statistics, including emission control catalysts industry's global market size, regional shares, competitors with an emission control catalysts market share, detailed emission control catalysts market segments, market trends and opportunities, and any further data you may need to thrive in the emission control catalysts industry. This emission control catalysts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 expansion observed in the historical period can be attributed to several factors, including the enforcement of stringent emission regulations, a rise in vehicle ownership, an increase in industrial emissions, heightened public awareness regarding environmental concerns, and growth in the automotive industry. These elements collectively contributed to the overall growth observed during that timeframe.
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 anticipated growth in the forecast period can be attributed to several key factors, including the increased focus on green hydrogen production, efforts toward industrial decarbonization, the rising adoption of renewable fuels, the impact of growing urbanization on air quality concerns, and the influence of increasing international agreements related to emissions. Noteworthy trends expected in this period encompass advancements in diesel emission control technologies, the implementation of zero-emission regulations, the utilization of Selective Catalytic Reduction (SCR) technology, the integration of On-Board Diagnostics (OBD) systems, and the adoption of integrated systems. These trends are poised to significantly impact and contribute to the projected growth and evolution of the emission control catalysts industry in the forecasted period.
The growth of the emission control catalysts market is significantly influenced by stringent regulations aimed at controlling air pollution. The rise in air pollution, primarily attributed to rapid industrialization and urbanization, has led governments to implement regulations to address its adverse effects on public health and the environment. Emission control catalysts play a pivotal role in reducing emissions from industrial machinery and vehicles, aligning with these regulatory measures. For example, in September 2021, the World Health Organization established global air quality guidelines to combat air pollution, emphasizing practices to manage specific particulate matter types. This regulatory focus on air quality is expected to drive the demand for emission control catalysts in exhaust systems, contributing to market growth.
The increasing production of vehicles is poised to be a key driver for the emission control catalyst market. Vehicle production involves assembling and constructing various motor vehicles, and emission control catalysts play a critical role in mitigating harmful emissions from internal combustion engines. With the rising global demand for vehicles, especially in regions like the United States and China, the production of over 63.2 million cars worldwide in 2021 indicates the scale of the automotive industry. Emission control catalysts are integral to vehicle exhaust systems, supporting environmental sustainability. The growth in vehicle production is thus contributing significantly to the expansion of the emission control catalysts market.
Major companies in the emission control catalysts market are strategically focusing on production expansion as part of their growth strategy. This approach aims to meet customer demand, enhance market competitiveness, and improve overall profitability. Companies are also investing heavily in research and development to introduce innovative and eco-friendly products. For instance, in July 2021, BASF SE, a Germany-based chemicals company, announced an investment in expanding the capacity for mobile emissions catalysts at its manufacturing plant in Chennai, India. This investment not only doubles production capacity but also contributes to job creation and economic development in India, highlighting the positive impact of production expansion in the emission control catalysts market.
Major players in the emission control catalyst market are actively pursuing strategic partnerships as part of their competitive strategy. These partnerships involve collaborative agreements or alliances between different entities, such as companies, organizations, or research institutions. The aim is to collectively address challenges related to emission control catalysts. For example, in March 2021, the U.S. Agency for International Development (USAID), a U.S.-based international development agency, initiated the Clean Air Catalyst program. This program was launched alongside a global consortium of organizations led by the World Resources Institute (WRI) and the Environmental Defense Fund (EDF). The Clean Air Catalyst program focuses on combating air pollution through collaborative efforts. USAID and its partners aim to work with local communities to better understand local pollution sources, identify solutions, and accelerate the implementation of cleaner air initiatives. The collaboration involves engaging with communities worldwide, pinpointing pollution sources, increasing public awareness, and forming coalitions to implement actions that result in long-term improvements in air quality.
In July 2021, BASF SE, a Germany-based chemical company, acquired Zodiac Enterprises LLC for an undisclosed amount. This acquisition is expected to enhance BASF SE's capacity and capability for recycling chemical catalysts in North America. Zodiac Enterprises LLC, a U.S.-based metal recycling company, specializes in recycling precious metals from industrial scrap, with a primary focus on chemical catalysts. This strategic acquisition reinforces BASF SE's commitment to sustainability and strengthens its position in the emission control catalyst market by ensuring efficient recycling practices for catalyst materials.
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
Asia-Pacific was the largest region in the emission control catalysts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the emission control catalysts market during the forecast period. The regions covered in the emission control catalysts market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the emission control catalysts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The emission control catalysts market consists of sales of emission control catalysts including iridium, ruthenium, and vanadium. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.