NEW YORK, Jan. 16, 2024 /PRNewswire/ — The emission control catalysts market size is set to grow by USD 4.24 billion between 2022 and 2027 and register a CAGR of 6.25%, according to Technavio’s latest market research report. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The mobile emission segment will account for a major share of the market’s growth during the forecast period. Emission Control Catalysts demand is being driven by the increasing popularity of diesel cars, in particular those using catalysts based on platinum. Furthermore, the key driver for market growth in this sector is expected to be increasing environmental restoration and conservation activities. To stay ahead of the competition, auto manufacturers will focus on developing technologically advanced emission control catalysts and innovative technologies. Read our FREE Sample Report
Emission Control Catalysts Market 2023-2027: Segmentation
- Mobile Emission
- Stationary Emission
- North America
- South America
- Middle East And Africa
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To help businesses improve their market position, the emission control catalysts market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include AeriNOx Inc., Ashland Inc., BASF SE, Catalytic Combustion Corp., CDTi Advanced Materials Inc., Clariant International Ltd., CORMETECH Inc., Cummins Inc., DCL International Inc., DieselNet, Evonik Industries AG, Topsoes AS, Honeywell International Inc., Ibiden Co. Ltd., Johnson Matthey Plc, S and P Global Inc., Solvay SA, Toyota Motor Corp., Tenneco Inc., and Umicore SA.
VENDOR OFFERING EXPLANATION
The report also covers the following areas:
- Emission Control Catalysts Market size
- Emission Control Catalysts Market trends
- Emission Control Catalysts Market industry analysis
Market trends such as emerging markets provide significant prospects for ECCs and are likely to emerge as one of the primary drivers of the market. However, factors such as the growing popularity of EVs may threaten the growth of the market.
- Environmental concerns and measures to curb pollution are key factors driving market growth.
- Environmental and health pollution caused by the exhaust of vehicles has a significant impact, resulting in ozone depletion and greenhouse gas emissions.
- To mitigate greenhouse gas emissions, green standards such as LEED are incorporated in the planning and construction of buildings.
- Increased demand for selective catalyst reduction (SCR) catalysts is a major trend in the market.
- Selective catalytic reduction (SCR) emissions control catalysts will remove NOx in oxidizing conditions and enable specific reduction of NOx as well as the oxidation of ammonia.
- The SCR process uses a catalyst to inject the liquid-reducing agent, normally automotive-grade urea, known as Diesel Exhaust or DEF Fluid, into the exhausts of diesel engines.
- Energy-intensive nature of platinum processing is a significant challenge restricting market growth.
- An energy-intensive process that has increased production costs is the transformation of platinum ore into pure platinum.
- To produce just one troy ounce of pure platinum, it takes approximately 6 months and 10 to 12 tons of ore.
The Emission Control Catalysts Market is propelled by a confluence of factors, including the surge in demand for Selective Catalytic Reduction (SCR) systems and Catalytic Converters. Diesel Oxidation Catalysts (DOC), Lean NOx Traps (LNT), and Particulate Filters are key players addressing stringent emissions regulations such as Euro 6, Euro 7, and China VI. With a focus on reducing Nitrogen Oxides (NOx), VOCs, and enhancing air quality, the market sees a growing adoption in both automotive and industrial sectors. Innovations in Hydrocarbon Catalysts, Carbon Monoxide Catalysts, and sustainable materials contribute to compliance with global emission standards, making Emission Control Catalysts indispensable for manufacturers, especially in the context of Heavy-Duty Vehicles and Hybrid/Electric Vehicles. Aftermarket services, emission testing equipment, and government policies further drive the market, emphasizing the crucial role in achieving fuel efficiency, mitigating global warming potential, and ensuring sustainable practices.
Emission Control Catalysts Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist emission control catalysts market growth during the next five years
- Estimation of the emission control catalysts market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the emission control catalysts market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of emission control catalysts market vendors
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Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Drivers, Challenges, & Trends
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