Some of the prominent factors that positively influence the growth of Emission Control Catalyst Market are rapid urbanization, improved living standard, growing need to curb emission from industrial & automobile success. Environmental concern owing to rapid industrialization combined with future threat of global warming are posing issues for the expansion of sustainable future. Industries across the globe are working towards implementing emission control catalyst system to stick with the strict regulations related to the emission of harmful pollutants in the environment. Above-mentioned reason is predicted to fuel the growth of the market. Moreover, the main growth drivers for this market are strict environmental policies adopted by numerous governments and environmental protection agencies coupled with raise in the vehicle production and growth of industrial sector. However, raising demand for electric vehicles across the globe is expected to hinder the growth of the market.
Competitive Analysis:
The major players operating in the Emission Control Catalyst Market include BASF SE (Germany), Johnson Matthey (U.K.), Solvay (Belgium), Umicore SA (Belgium), Corning Incorporated (U.S.), Clariant (Switzerland), aerinox-inc (U.S.), CORMETECH, INC. (U.S.), Cataler Corporation (Japan), DCL International Inc (U.S.), and others.
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Market Segmentation:
The Global Emission Control Catalyst Market is segmented on the basis of product, application, and region. Based on product, the market is classified into palladium, platinum, rhodium, and others. Among these, platinum based Emission Control Catalyst is expected to witness the fastest growth on account of being an appropriate oxidation catalyst. Moreover, it can be used as both a reduction and an oxidation catalyst. Platinum is majorly used in diesel vehicles as it act as both reduction and oxidation agent to reduce sulphur emission. Palladium is predicted to witness a healthy growth due to its easy blending features with platinum and palladium. Rhodium based emission control catalyst is also estimated to witness tremendous growth owing to its predominant use in the reduction of nitrogenous oxide from exhaust emissions via three way catalytic converters in vehicles. Moreover, Rhodium metal exhibit excellent properties such as superior corrosion resistance and high thermal stability which is likely to propel its usage in the upcoming years. Based on application, Emission Control Catalyst Market is categorized into transportation, industrial, and others. Transportation sector include light duty vehicle and heavy duty vehicle. Automotive sector holds the largest share, accounting for around 70% of the total volume as of 2015. Increasing automotive production and sale coupled with rising demand for automotive catalytic converters as an Emission Control medium is predicted to drive the growth of the market over the forecast period, 2017 to 2023.
Regional Analysis:
Europe is estimated to be the largest Emission Control Catalyst Market followed by North America and Asia Pacific on account of increasing demand from automotive and industrial sector. Germany and UK are predicted to capture the largest regional market share on account of tremendous demand from prominent automobile manufacturers. The market in Asia Pacific is expected to grow with the healthy CAGR on account of tightening vehicle Emission Standard specifically in India, China, and Japan. North America Emission Control Catalyst Market is estimated to witness a substantial growth since the U.S, and Canada are the major contributors due to huge demand from power, cement, chemicals, and metal sector. The Middle Eastern and African countries are estimated to see significant regional market growth on account of rising foreign investments and shifting the manufacturing base to these region.
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Key Points from Table of Contents:
11. Company Profiles
11.1 BASF SE
11.1.1 Company Overview
11.1.2 Product/Business Segment Overview
11.1.3 Financial Updates
11.1.4 Key Developments
11.2 Johnson Matthey
11.2.1 Company Overview
11.2.2 Product/Business Segment Overview
11.2.3 Financial Updates
11.2.4 Key Developments
11.3 Solvay
11.3.1 Company Overview
11.3.2 Product/Business Segment Overview
11.3.3 Financial Updates
11.3.4 Key Developments
11.4 Umicore SA
11.4.1 Company Overview
11.4.2 Product/Business Segment Overview
11.4.3 Financial Updates
11.4.4 Key Developments
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