PUBLISHER: The Business Research Company | PRODUCT CODE: 1641705
PUBLISHER: The Business Research Company | PRODUCT CODE: 1641705
A catalytic converter is a device designed to transform toxic gases into less harmful byproducts, contributing to the reduction of environmental pollution. This device contains a catalyst chamber that plays a crucial role in converting noxious compounds from an exhaust system into benign gases, such as water vapor and carbon dioxide. Catalytic converters are essential components attached to the exhaust systems of all internal combustion engines, effectively minimizing emissions of toxic gases like carbon monoxide, nitrogen oxides, and hydrocarbons, commonly associated with gasoline or diesel combustion.
Several types of catalytic converters serve specific functions, including three-way catalytic converters (TWCC), four-way catalytic converters (FWCC), diesel oxidation catalysts (DOC), selective catalytic reduction (SCR), and lean NOx traps (LNT). The term 'three-way catalytic converter (TWCC) denotes a converter designed to transform all three major concern gases such as carbon monoxide, hydrocarbons, and nitrogen oxides-into less harmful byproducts. TWCCs are effective in reducing both indoor and outdoor toxic pollutants. Palladium, platinum, and rhodium are common materials used in catalytic converters. These devices find applications in various vehicles, including passenger cars, light commercial vehicles, trucks, buses, and off-highway vehicles like agricultural tractors, construction equipment, and mining equipment.
The catalytic converter research report is one of a series of new reports from The Business Research Company that provides catalytic converter statistics, including catalytic converter industry global market size, regional shares, competitors with catalytic converter shares, detailed catalytic converter segments, market trends and opportunities, and any further data you may need to thrive in the catalytic converter industry. This catalytic converter 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 catalytic converter market size has grown rapidly in recent years. It will grow from $66.08 billion in 2024 to $73.08 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to regulatory mandates for emissions control, growth in awareness of environmental pollution and air quality, increased production and sales of internal combustion engines, adoption of three-way catalytic converters for gasoline engines, expansion of automotive industry, especially in emerging markets.
The catalytic converter market size is expected to see rapid growth in the next few years. It will grow to $115.29 billion in 2029 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to growing demand for commercial and heavy-duty vehicle emissions control, adoption of advanced catalytic converter substrates (e.g pgm-coated), focus on reduction of particulate matter (pm) emissions, increasing application in non-automotive sectors (e.g, industrial processes), expansion of aftermarket for catalytic converters and replacement parts.. Major trends in the forecast period include integration of selective catalytic reduction (scr) technology, development of advanced substrates, lightweight and compact converter designs, onboard diagnostics (obd) and emission monitoring, integration of catalytic converters in exhaust system design.
Stringent emission and fuel efficiency regulations are driving the catalytic converter market's growth. Governments worldwide have implemented stringent rules and regulations, accompanied by substantial fines, to address environmental concerns and combat escalating fuel emissions. A notable example is the 2020 announcement by the US Environmental Protection Agency and the Department of Transportation, introducing new vehicle pollution standards to mitigate climate change. This regulatory landscape has resulted in an increased demand for catalytic converters, contributing significantly to the market's expansion.
An increase in automobile production is anticipated to drive the growth of the catalytic converter market in the future. Automobiles refer to four-wheeled passenger vehicles equipped with an internal combustion gasoline or diesel engine, designed for use on public highways. Catalytic converters are employed in these vehicles to minimize harmful emissions, including carbon monoxide, nitrogen oxides, and hydrocarbons. For example, in November 2023, Statistics Canada, a government agency in Canada, reported that in 2022, there was a slight rise in the total number of registered road motor vehicles, reaching 26.3 million, which represented a 0.3% increase from the previous year, adding 78,655 units to the roads. Consequently, the growth in automobile production is fueling the expansion of the catalytic converter market.
A prominent trend in the catalytic converter market is the adoption of nanoparticle-based catalytic converters for effective emission treatment. Modern catalytic converters incorporate nanomaterials like nano-platinum, nano-palladium, nano-rhodium, and other metals on their inner supports. Mazda Motor Corporation, for instance, has introduced a new generation of catalytic converters utilizing nanotechnology, which significantly reduces the need for precious metals like platinum and palladium. These advancements enhance the catalytic converter's efficiency in purifying exhaust pollutants while optimizing the utilization of precious metals.
Major companies in the catalytic converter market are concentrating on innovations that enhance ease of use, enabling quick and efficient service. Ease of use refers to how straightforward and intuitive a product, service, or system is for users to comprehend and operate. For example, in January 2023, Fortegra, a US-based insurance company, introduced the Smart AutoCare Branded Catalytic Converter Limited Warranty to tackle the growing problem of catalytic converter theft. This new limited warranty aims to assist vehicle owners in safeguarding against the escalating threat of catalytic converter theft, which has surged in recent years. The warranty features a unique tamperproof seal for identification by law enforcement and scrap dealers. Given that new catalytic converters can cost between $1,000 and $4,000, this warranty provides crucial financial protection that standard insurance policies often do not cover.
In February 2024, BASF Environmental Catalyst and Metal Solutions, a US-based chemical manufacturing firm, acquired Arc Metal AB for an undisclosed amount. This acquisition is intended to enhance its capabilities in sustainable metal solutions and broaden its product offerings. This strategic move aligns with BASF's dedication to advancing environmental technologies and fostering innovation within the metal industry. Arc Metal AB is a Sweden-based company that specializes in the production and distribution of high-quality metal products and solutions.
Major companies operating in the catalytic converter market include Benteler International AG, CDTi Advanced Materials Inc., Continental AG, The Eberspacher Group of Companies, Faurecia PVT. LTD., Futaba Industrial Co. Ltd., Johnson Matthey Plc, Magneti Marelli S.P.A., Tenneco Inc., Umicore N.V., BASF Catalysts LLC, Bosal International NV, Sango Co.Ltd., Yutaka Giken Co. Ltd., General Motors Company, Ford Motor Company, Denso Corporation, Komatsu Ltd., Aisin Seiki Co. Ltd., HJS Emission Technology GmbH & Co. KG, Jetex Exhausts Ltd., SAE Manufacturing Specialties Corp., Eastern Manufacturing Inc., MagnaFlow, Walker Exhaust Systems, AP Exhaust Products Inc., Flowmaster, BORLA Performance Industries, Gibson Performance Exhaust
Asia-Pacific was the largest region in the catalytic converter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the catalytic coverter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the catalytic converter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The catalytic converter market consists of sales of platinum (Pt), palladium (Pd), and rhodium. 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.
Catalytic Converter Global Market Report 2025 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 catalytic converter 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 catalytic converter ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The catalytic converter 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.