An Incisive, In-depth Analysis on the Emission Control Catalyst Market
This study offers a comprehensive, 360 degree analysis on the Emission Control Catalyst market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Emission Control Catalyst market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Automotive emission control and mitigation has been a prime concern for the automobile manufacturers. Various concepts, modifications, advancements and innovations regarding engine design, material selection, drivetrain and other automotive technologies have been implemented to curb such emissions for instance, catalytic converters, use of turbochargers, light weight body panels and enginnerring plastics are some of the examples.
From a regional perspective, Western Europe and North America are predicted to hold a significant share of the pie in the global emission control catalyst market. The market in Asia Pacific will foresee sustainable growth in the coming years with the demand from India and China increasing at an extensive rate due to the growing automotive base and the rapid expansion of the automotive industry in these countries. It has been projected that Latin America will also remain a lucrative region for market players operating in the global market.
Western Europe will retain its lead owing to the stringent regulations that have been imposed by the governments of the countries in the region
In the recent past, governments of several countries in Europe, especially in Western Europe have made changes to their emission norms in order to control the amount of toxic emission from vehicles and industries in the region, thus increasing the need for energy-efficient emission control technology. As a result, the demand for emission control catalyst is rising by the day as manufacturers of automobiles and those operating in various industries that produce toxic gases are impelled to cut down on toxic emissions. Emission control catalyst supports in decreasing the toxic effects and the emission of nitrogen oxide and hydrocarbons.
Emission control regulations in Western Europe have become stricter and manufacturers are obligated to adhere to the prescribed emission norms and have beefed up their emission control catalyst activities as well. For instance, the European Union has different emission standards for diesel and petrol vehicles. Air quality standards for light duty vehicles is EURO 6 and for heavy duty vehicles is EURO 5 and EURO 6. Growing urbanisation and increasing penetration of automobiles in the region are other factors leading to the surging adoption of emission control catalyst.
Developing economies are likely to witness a rise in the adoption of emission control catalyst given the increasing production of automobiles across key nations
The sales and adoption of emission control catalysts is directly proportional to the production of automobiles and vehicle parc. In spite of the unstable economic conditions the market has witnessed in the recent past, the global automotive industry has exhibited sustainable growth. In the coming years, it has been projected that automotive production will surge in developing regions such as Latin America and Asia Pacific. This dynamic is anticipated to provide marginal growth prospects to the manufacturers of emission control catalyst.
In order to retain their position in the global market, players and manufacturers based in Europe are now strategically setting up and expanding their production plants in the Asia Pacific region to reduce the cost incurred on the high price of raw materials. As a result, several leading players are entering into long-term contracts and supply agreements with regional vendors as well to acquire a stronghold in the market in the region. For instance, in 2017, Johnson Matthey expanded its auto-catalyst production facility in Shanghai. The company produced nearly 60 billion of the products by the end of 2016. Another incidence is of BASF Catalysts India Private Limited, which inaugurated its mobile emission catalyst plant in Chennai, India.
An Overview of the Global Emission Control Catalyst Market with Reference to the Global Chemicals and Materials Industry Outlook
Recycle and reuse practices are impacting the sales of virgin materials, resulting into lesser dependency on volume-driven growth. New materials are showcasing potential for driving value-based growth, but chemical companies are still some time away from achieving voluminous production, while maintaining high quality at the same time. Barring few exceptions, a majority of players are still prioritizing short-term volume growth over long-term value growth. Pressure on improving bottom-line is influencing manufacturers to improve efficiency and reduce operational costs. The impact of value-driven growth may not be visible in the short-term, but long-term outlook remains in favor of a balanced approach between value and volume.
Manufacturers continue seeking low-priced feedstock in a bid to marginally reduce pre-production costs. Industry leaders are joining forces to replace fossil fuel-derived feedstock with bio-based alternatives. However, concerns related to producing affordable and sustainable feedstock at mass scale remains a challenge. Access to quality and affordable feedstock will continue to remain a focus area for manufacturers. Chemical manufacturing processes are running on limited energy, while volume of feedstock is getting stranded at ports as disapproval from import authorities keeps disrupting supply chains in sectors, such as oleochemicals and petrochemicals industries.
Chemical manufacturers have promised support and adherence to governments & regional authorities that are committing towards green, sustainable initiatives. Development of bio-alternatives is gaining momentum. Research & academic institutes are teaming up with manufacturers to formulate sustainable substitutes for commonly-used chemical substrates. Many companies are keeping a close eye on advancements in “green chemistry.” Shift towards eco-friendly chemicals will gain momentum in the future on the back of government regulations and end-user preference. Rising costs of fossil fuels will also instrument the upsurge for sustainable chemicals manufacturing.
List of factors tracked in the Chemicals and Materials Market Report
- Chemical Industry Value Add
- Chemical Sales
- Per Capita Consumption
- Standard Capacity Factors
- Plastics Consumption Outlook
- Glass Consumption Outlook
- Policies and Regulations
- Historical growth of top players
- Growth in associated markets
- Net trade scenario
- Apparent production capacity
FMI utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
FMI collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
In this phase, FMI validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
Standard Report Structure
- Executive Summary
- Market Definition
- Macro-economic analysis
- Parent Market Analysis
- Market Overview
- Forecast Factors
- Segmental Analysis and Forecast
- Regional Analysis
- Competition Analysis
The global emission control catalyst market has been segmented into: