Emission Control Catalysts – Market Analysis & Opportunity Assessment, 2014 - 2020
Oct 16, 2014 | Chemicals & Materials | FMI
Emission control and reduction are one ofthe top prioritiesfor commercial, industrial, and government sector companies. Growing need forthe mitigation of ill effects of carbon emissions or pollution is leading to the adoption of new methods, technologies, materials, and processes by manufacturing and process industries. Emission control catalysts are used in catalytic convertors to reduce harmful emissions. A catalytic convertor houses a typical honeycomb structure coated with emission control catalysts such as platinum, palladium, and rhodium. Emission control catalysts can be segmented basedonapplications such as mobile and stationary.
Mobile applications include automotives; these catalysts are also called automotive catalysts.Stationary applications include thermal or conventional power plants and other industries. Mobile application is the largest segment of the emission control catalysts market due to increasing demand for light and heavy commercial vehicles across the globe. Catalytic convertors are majorly used in automotives, while stationary emission control systems use selective catalytic reduction, catalytic incineration, filters, and catalytic oxidation. Emission control catalysts or convertors are increasingly being used for NOx reduction from power plants, sulfur reduction, and removal of toxins from exhaust smoke.
Increasing automotive fleet and stringent environmental regulations are the major driving factors of the growth the emission control catalyst market. The global emission control catalysts market is expected to grow between 7% and 9% CAGR in the next five years. Major players include Johnson Matthey, BASF, Umicore, Faurecia andNett Technologies.
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