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Revenues from Emission Control Catalysts Market will Surpass US$ 59.8 Billion by 2026, at a CAGR of 6.9%- MarketsandMarkets™ Study

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Revenues from Emission Control Catalysts Market will Surpass US$ 59.8 Billion by 2026, at a CAGR of 6.9%- MarketsandMarkets™ Study

September 17
15:26 2022
Revenues from Emission Control Catalysts Market will Surpass US$ 59.8 Billion by 2026, at a CAGR of 6.9%- MarketsandMarkets™ Study
Browse 156 market data Tables and 58 Figures spread through 206 Pages and in-depth TOC on “Emission Control Catalysts Market
Emission Control Catalysts Market by Type (Palladium, Platinum, Rhodium), Application (Mobile sources (off road, and on road), and Stationary Sources), and Region (North America, Europe, APAC, South America & RoW)

The global emission control catalysts (ECC) market size is estimated at USD 42.9 billion in 2021 and is projected to reach USD 59.8 billion by 2026, at a CAGR of 6.9% during the forecast period. The major factors driving the market are the stringent emission standards implemented by governments across the globe and increasing aftermarket for catalytic converters. Moreover, increasing power generation plants in various countries, and rising awareness among automobile manufacturers about the benefits of using catalytic converters is also influencing market growth. 

The major factors driving the ECC market include growth of the global automobile industry and increasing harmful emissions from various industries. Automotive exhaust systems and industrial machinery release CO, NOx, HC, CO2, and particulate matter into the environment, which are major contributors to greenhouse gases (GHGs). ECCs limits the emissions from automotive, industrial units, marine and other mobile and stationary sources of emission. PGM metals such as platinum, palladium, and rhodium oxidize pollutants and convert them into less harmful emissions such as nitrogen and hydrogen.

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On the basis of metal type, the ECC market has been segmented into four types, namely, palladium, platinum, rhodium, and others. Palladium metal has the ability to maintain acceptable performance at sustained temperature for the lifetime. in addition, the metal has high toleration of high temperatures better than other metals.

APAC is the largest market for ECCs. Industrialization, growing population, and urbanization of APAC are boosting the ECC market. The major end users of ECC in the region are light-duty vehicle (LDV), power plants, chemical plants, and motorcycles.

The major players in the market include Johnson Matthey (UK), BASF Catalyst (Germany), Umicore (Belgium), Tenneco (US), Clariant (Switzerland), Cataler (Japan), and Heraeus (Germany). These players have adopted various growth strategies to expand their presence in the market further. New product launch, investment & expansion, and merger & acquisition have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global ECC market.

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The Johnson Matthey is the largest producers of ECC in the world. The company has manufacturing facilities in North America, Latin America, Europe, Africa, and Asia-Pacific. In recent years, Johnson Matthey has adopted several business strategies to strengthen its position in the market. It has adopted various growth strategies, including investment & expansion, and new product launch, to maintain its leading position in the ECC market. For example, in March 2019 launched an innovative automatically regenerating ActivDPFTM diesel particulate filter (DPF) system for stationary diesel engines. This will help in delivering clean energy whenever needed. In August 2018, the company planned to construct a new 50,000 square-meter manufacturing facility for automotive catalyst in Zhangjiagang, China.

BASF Catalyst is one of the major  player operating in the ECC market. The group has 30 manufacturing facilities worldwide and produces mobile as well as stationary emission catalysts for worldwide customers. The company has adopt new product launch and expansion strategies in order to broaden its product portfolio, and maintain its position in the market. In December 2018, the company announced the construction of its new mobile emission catalyst production site in Shanghai, China. This expansion added 30,000 square-meters facility which will include multiple manufacturing lines, providing a full range of emissions control technologies for heavy-duty and light-duty vehicle manufacturers.

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