Emission Control Catalysts Market: Global Industry Analysis and Forecast (2023-2029)

Emission Control Catalysts Market was valued at US $ 46.81 Bn. in 2022. Global Emission Control Catalysts Market size is estimated to grow at a CAGR of 6.9 %. The market is expected to reach a value of US $ 74.69 Bn. in 2029.
Emission Control Catalysts Market Overview:
Catalytic converters employ Emission Control Catalysts to prevent hazardous emissions in the environment. Environmental concerns prompt market participants to adopt innovative methods, materials, processes, and technology. Controlling numerous emissions is a primary goal for governments, businesses, and industries. In diesel-powered internal combustion engines, catalysts are commonly employed. Catalysts have been made mandatory for autos, as well as industrial and power facilities, to reduce environmental pollutants.

Emissions from heavy-duty machinery, industrial plants, and automobiles contain not only carbon dioxide, but also other molecules that are exceedingly dangerous to the environment, such as partially burned fuels, nitrous oxides, and carbon monoxide. Catalysts help to reduce hazardous chemical emissions by converting them to non-hazardous components and then releasing them into the atmosphere.


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Emission Control Catalysts Market Dynamics:
Emission control rules are driving the demand for Emission Control Catalysts:
Rapid industrialization and urbanization contributes to higher environmental pollution, which is a big problem around the globe. Automobile and industrial emissions are rapidly increasing as a result of on-road and off-road emission sources such as passenger automobiles, light-duty and heavy-duty commercial vehicles, and others. As public awareness about pollution grows, stricter emission rules are being implemented, resulting in a surge in demand for advanced catalyst converters that use precious metals. The need for lighter, faster, and low-fuel-consumption vehicles is increasing as a result of stricter emission rules, which is expected to enhance the ECC market's growth.

The market for ECCs will be impacted by increased demand for government-subsidized battery-operated electric cars (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid automobiles:

Electric vehicles have no exhaust emissions and do not require ECC, which is a significant impediment to the ECC industry. Various governments throughout the globe are backing EV manufacturers and providing subsidies to EV owners in the form of cash incentives, purchasing bonuses, and tax savings in response to increased worries about global warming and increasing air pollution. Because of growing oil prices and pollution, the global battery electric car market has risen quickly in recent years. Electric cars are becoming more popular, and they are likely to account for a large share of overall vehicle manufacturing in the future, which could stifle the expansion of the ECC industry.

Manufacturers are becoming more conscious of the importance of adding catalytic converters to reduce vehicle emissions:

To minimize emissions from internal combustion engines and industrial activities, ECC are used in a vast number of autos and industrial processing units. The difficulties of emissions are being addressed by advancements in vehicle engine technologies and catalytic converters such as two-way catalytic converters, three-way catalytic converters, and SCR systems. A catalytic converter can remove % of the hydrocarbons, carbon monoxide, and nitrogen oxides produced by a vehicle's engine. To achieve the required emission requirements, manufacturers are creating new and advanced systems that use much fewer PGMs while also improving the overall performance of the catalytic converters.
Emission Control Catalysts Market Segment Analysis:
Based on Metal Type, the market is sub-segmented into Palladium based ECC, Platinum-based ECC, Rhodium based ECC and Others (vanadium, ruthenium, and iridium) Rhodium-based emission reduction catalyst demand was 952.2 kilo tonnes in 2022, and it is expected to grow significantly due to its widespread application in three-way catalytic converters in vehicle engines to remove nitrogen oxide from exhaust emissions. In addition, when compared to other metals, rhodium metal is capable of demonstrating qualities such as high corrosion resistance and excellent thermal stability. In terms of volume, palladium is expected to grow at the fastest rate, with a CAGR of 4.7 % Because of its low price and ease of blending with platinum and palladium.

Based on Application, the market is sub-segmented into Automotive, Industrial and Others. In 2022, automotive was the most popular application, accounting for 83.5 % of total volume. The sector is likely to be significantly impacted by rising demand for automobile catalytic converters as an emission control medium. Carbon dioxide is present in emissions from industrial facilities, automobiles, and other sources, as well as other compounds such as nitrous oxides, carbon monoxide, and other extremely harmful gases that destroy the environment. As a result of the implementation of regional government rules, car manufacturers are likely to increase their use of catalysts during the forecast period, as catalysts prevent the emission of dangerous gases.
Emission Control Catalysts Market Regional Insights:
In 2022, Asia Pacific was the most important market, accounting for 32.9 % of global volume. Due to easy access to consumables, the presence of strong automotive manufacturing facilities in China, Japan, South Korea, and India is projected to have a significant impact in the near future. From forecast period, Europe is expected to grow at a CAGR of 4.3 %. In 2022, the European Commission established the EU Emissions Trading System (EU ETS), which aims to provide incentives for decreasing carbon emissions in over 11,000 power plants and manufacturing units across 31 nations in the region. Over the forecast period, this programme is expected to play a critical role in increasing the use of emission control catalysts.

The objective of the report is to present a comprehensive analysis of the Emission Control Catalysts Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help understand the Emission Control Catalysts Market dynamic and structure by analyzing the market segments and projecting the Emission Control Catalysts Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Emission Control Catalysts Market make the report investor’s guide.
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Emission Control Catalysts Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 46.81 Bn.


Forecast Period 2023 to 2029 CAGR:
6.9 %
Market Size in 2029:
US $ 74.69 Bn.


 Segments Covered:
by Metal Type
• Palladium based ECC
• Platinum-based ECC
• Rhodium based ECC
• Others (vanadium, ruthenium, and iridium)


by Catalytic Converter
• Diesel oxidation catalyst
• Selective catalytic reduction
• Lean NOx trap
• Three-way by Catalytic converter
• Four-way By Catalytic converter
• Others


by Application
• Automotive
• Industrial
• Others



Emission Control Catalysts Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Emission Control Catalysts Market Key Players
• BASF catalyst (Germany)
• Johnson Matthey (UK)
• Umicore (Belgium)
• Corning (US)
• Solvay (Belgium)
• Tenneco (US)
• Cataler (Japan)
• Heraeus (Germany)
• Holdor Topsoe (Denmark)
• Aristo Intelligent Catalyst Technology (US)
• Bosal (Netherlands)
• Clean Diesel Technologies (US)
• Comertech (US)
• DCL International Inc. (Canada)
• Hitachi Zosen Corporation (Japan)
• IBDIEN (Austria)
• Interkat (Germany)
• Kunming Sino-Platinum Metals Catalyst (China)
• Nett Technologies (Japan)
• NGK Insulators (Japan)
• Shell Global (Netherlands)
• Sinocat (China)
• Zelolyst International (US).

Frequently Asked Questions:

1. Which region has the largest share in Global Emission Control Catalysts Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Emission Control Catalysts Market?
Ans: The Global Emission Control Catalysts Market is growing at a CAGR of 6.9% during forecasting period 2023-2029.

3. What is scope of the Global Emission Control Catalysts Market report?
Ans: Global Emission Control Catalysts Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Emission Control Catalysts Market?
Ans: The important key players in the Global Emission Control Catalysts Market are – BASF catalyst , Johnson Matthey , Umicore , Corning , Solvay , Tenneco , Cataler , Heraeus , Holdor Topsoe , Bosal , Comertech (US), DCL International Inc. , IBDIEN , Interkat, Nett Technologies , NGK Insulators , Shell Global , Sinocat , Zelolyst International .

5. What is the study period of this Market?
Ans: The Global Emission Control Catalysts Market is studied from 2022 to 2029.