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.
The climate change threat is here and emission control is no longer a preventive measure but a way to salvage what we can to save planet Earth. From governments to companies, all are committing to net zero emission plans and implementing new mandates to ensure the reduction of emissions and greenhouse gases.
Surging popularity of electric cars is expected to change the tide in favour of emission regulators to a certain extent; however, scepticism surrounding emissions associated with electricity production and EV manufacturing is still a huge concern for emission regulating bodies around the world.
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.