Automotive Emission
Control Catalyst Market: Introduction
·
The global automotive
emission control catalyst market is expected to expand at a rapid pace
during the forecast period, owing to rising application areas such as
automotive, industrial and the stringent emission regulations due to increased
concern over environmental pollution are key factors driving the growth of the
global automotive emission control catalyst market.
·
Automotive emission control catalysts are used to breakdown the harmful
pollutants in the exhaust system of an automotive vehicles to release less
harmful pollutants into the environment. It is used in the exhaust system of
vehicles to control the emission of harmful gases, which includes hydrocarbons,
carbon oxides, nitrogen oxides, and other particulate matter, into the
atmosphere.
·
The European Union countries such as Europe, U.K. have established
emission control standards to control release of pollutant from vehicles into
the atmosphere. This is factor is likely to drive the global automotive
emissions control catalyst market during the forecast period.
Key Drivers of
Automotive Emission Control Catalyst Market
·
The automotive emission control catalyst market is anticipated to expand
at rapid growth, due to the stringent emission regulations and increasing
concerns over the environmental pollution. Automobiles is the largest market
for automotive emission control catalyst, due to the rapid growth in car sales
and strict emission standards.
·
Automotive emissions control catalyst helps to convert harmful gases
into less toxic gases such as nitrogen and carbon dioxide. Platinum, palladium,
rhodium, and other expensive metals are used as catalysts in automobile
vehicles, which increases the cost of the automotive catalyst. However,
manufacturers are inclined towards adopting technologically advanced nanotechnology
to enable them use expensive metals efficiently.
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Palladium Segment
to Offer Attractive Opportunities
·
The palladium segment constituted major share of the global automotive
emission control catalyst market in 2018. The segment is anticipated to expand at
a significant pace during the forecast period due to its rising uses in the
catalytic converters for heavy duty and light duty vehicles and also in the
marine and locomotive industry.
·
Palladium is widely used an oxidation catalyst in diesel catalytic converters
in the past few years. It is more widely used in gasoline auto catalysts or
petrol-based engines due to its excellent properties such as low melting point
and ductility.
·
Based on application, the automotive segment comprises of largest market
share in 2018. The developing nations have constantly rising production
of automobile vehicles. According to the Society of Indian Automobile
Manufacturers (SIAM), India became the fourth largest automobile industry in
the world with the increase in sales of 9.5% year-on-year to 4.2 million units
by 2020. This rise in automobile production in developing nations automatically
leads to increased production in demand for automotive catalysts for emission
control devices in automobile exhaust systems. Therefore, increase in
automobile production is anticipated to boost the growth of the automotive
emission control catalyst market.
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High Prices is
Likely to Hamper Market
·
Automotive emission control catalyst market is mainly affected by the
growing production of electric vehicles. Furthermore, high cost of precious
metals such as palladium, platinum and rhodium used in automotive catalyst
hinders the growth of the market.
·
The market is also affected by the factors such as dependence of
performance on temperature and loss of activity through poisoning and thermal
deactivation which is hindering the growth of the market. However, several
government are taking initiatives regarding environment protection and
innovation in emission technologies for fuel efficiency which is anticipated to
provide growth opportunities to the automotive emission control catalyst
market.
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Europe Expected to
Hold Major Share of Global Automotive Emission Control Catalyst Market
·
In terms of value and volume, Europe dominated the global automotive
emission control catalyst market in 2018. The region is likely to remain highly
lucrative during the forecast period, due to rising stringent regulations implemented
by the European Commission for the reduction of carbon emissions. For instance,
Euro 6, European emission standards is a European government initiative for
emission control in the European region.
·
Asia Pacific is the fastest growing region for the automotive emission
control catalyst market due to the presence of several automotive manufacturing
facilities in China, India, South Korea and Japan.
·
Latin America is also the key region for the market due to rising
investment in automobile sector in the region. Countries such as Iran, Taiwan,
and Mexico the automobiles production has increased, the government policies
are also favorable, and there is also increase in the domestic consumption of
vehicles in these countries thus driving the automotive emission control
catalyst market.
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Key Players in
Market
Key players operating in the global
automotive emission control catalyst market include:
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BASF SE
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Johnson Matthey
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Umicore
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Tenneco Inc.
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Clean Diesel Technologies, Inc.
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Cummins Inc.
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Eberspcher
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Ecocat India Pvt. Ltd.
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Klarius Products Ltd.
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Clariant
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CDTi Advanced Materials, Inc.
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Others
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