Demand for Emission Control Catalysts Rises As Stringent Emission Control Rules Gets Stricter Within Automotive Industry
According to ESOMAR-certified consulting firm Future Market Insights’ (FMI), the global emission control catalyst market is projected to rise at above 10% CAGR, surpassing the market valuation of US$ 20.06 Bn during the forecast period 2021-2031.
Global Emission Control Catalyst Market
A recent market study published by Future Market Insights on the emission control catalyst...
Expansion of the automotive industry, coupled with implementation of stringent government regulations regarding toxic gas emissions from vehicles and industries, is bolstering the demand for emission control catalysts.
Increasing adoption of energy and fuel-efficient vehicles in developed regions such as the U.S., Germany and the U.K. will further boost the market growth in the upcoming decade.
The rising demand for lightweight passenger vehicles in developing regions such as China, Japan, India and Brazil will provide lucrative opportunities to the manufacturers operating in the market.
Key Takeaways from FMI’s Emission Control Catalyst Market Study
- Palladium-based catalyst will dominate the product segment throughout the forecast period.
- Demand in mobile equipment is anticipated to rise at a higher pace.
- The U.S. will showcase high demand for emission control systems due to rising automobile sales.
- The U.K. will emerge as a leading emission control catalyst market owing to implementation of stringent regulations and the presence of leading players.
- Rising population and increasing adoption of new-energy vehicles across the country will bolster sales in China.
- South Korea and Japan will account for approximately 7.50% of the total market share.
“Growing consumer preference towards energy-efficient vehicles, coupled with stringent government regulation regarding emissions will fuel the growth,” says the FMI analyst.
Johnson Matthey, BASF SE, Haldor topsoe, Umicore, Corning Inc., Clariant AG, Zeolyst International, Heraeus Holding, Solvay SA, Cormetech, NGK Insulators Ltd., Aristo Global, Nett Technologies Inc. are some key players operating in the emission control catalyst market.
As per FMI’s analysis, key players are focusing on thorough research and development to enhance and expand their product portfolio.
Major players are also establishing tie-ups and targeting mergers and acquisitions with regional players for the expansion of their company, along with innovations in design and efficiency of their product range. For instance
- In March 2019, Johnson Matthey launched a newly developed automatically regenerating Active DPF diesel particulate filter (DPF) system for stationary diesel engines, adding to the company’s robust portfolio.
- In December 2018, the BASF SE opened a new site in Pudong, Shanghai, China for the product of its mobile emission catalysts, expanding the facility by more than 30,000 square meter to support the increased production.
More Insights on the Global Emission Control Catalyst Market
In its latest report, FMI offers an unbiased analysis of the global emission control catalyst market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (diesel based emission catalyst, diesel oxidation catalyst (DOC), selective catalytic reduction catalyst (SCR), catalyzed soot filter/ diesel particulate filter, ammonia oxidation catalyst (AMX), NOx absorbers, gasoline based emission catalyst, palladium based catalyst, rhodium based catalyst, platinum based catalyst), application type (mobile equipment, heavy duty vehicles, off road vehicles, passenger cars & light duty vehicles, motorcycles, scooters and three wheelers, gardening equipment, stationary equipment, industrial engines, generators, off road equipment), end use (OEM, retrofit), pollutant type (Nox, CO, hydrocarbons or volatile organic compounds, HC/VOC, HAPs, diesel particulate matter (DMP), NH3 ammonia) across seven major regions (North America, Latin America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan and Middle East & Africa)
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The automotive division of FMI offers a novel approach and innovative perspective in the analysis of the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis about the installed base, consumables, replacement, USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders, and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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