NEW
YORK, Sept. 17, 2024 /PRNewswire/ -- Report with
the AI impact on market trends- The global emission control
catalysts market size is estimated to grow by USD 4.01 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
about 5.68% during the forecast period. Growth in global
automotive sector is driving market growth, with a trend
towards emerging markets to provide significant prospects for
ECCs. However, growing popularity of evs poses a
challenge. Key market players 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, Honeywell
International Inc., Ibiden Co. Ltd., Johnson Matthey Plc, S and P
Global Inc., Solvay SA, Tenneco Inc., Topsoes AS, Toyota Motor
Corp., and Umicore SA.
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Emission Control
Catalysts Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.68%
|
Market growth
2024-2028
|
USD 4007.6
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.29
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 54%
|
Key
countries
|
China, US, Germany,
Japan, and UK
|
Key companies
profiled
|
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, Honeywell
International Inc., Ibiden Co. Ltd., Johnson Matthey Plc, S and P
Global Inc., Solvay SA, Tenneco Inc., Topsoes AS, Toyota Motor
Corp., and Umicore SA
|
Market Driver
The Emission Control Catalysts (ECCs) market is anticipated to
experience significant growth, particularly in developing
countries. APAC is the largest market for light- and medium-weight
vehicles, accounting for over 50% of the global automotive market.
China, as a leading country in
APAC, is a key consumer and sourcing hub for raw materials.
Japan, a mature automotive market
and leading producer, also contributes to the market. India, now a top-five automotive market, and
Thailand are other significant
players. Rapidly increasing automotive production in APAC, driven
by rising disposable income and low labor costs in countries like
Vietnam and Indonesia, will likely boost ECC demand,
benefiting manufacturers during the forecast period.
The Emission Control Catalysts (ECC) market is experiencing
significant growth due to increasing emission standards for both
mobile and stationary sources. Automobile manufacturers and the
mining industry are major consumers of ECCs, particularly catalytic
converters for automobiles and SCR systems for power generation
plants. The automotive sector, including lighter vehicles and
hybrid vehicles, is driving demand for gasoline auto catalysts and
diesel engines catalysts. Harmful chemicals like nitrogen oxides,
hydrocarbons, and carbon monoxide are being effectively controlled
through the use of PGMs in ECCs. The industrial sector, including
the mining industry, is also addressing industrial emissions and
environmental issues by implementing ECCs. Financial incentives
such as stimulus packages, purchase bonuses, and tax savings are
encouraging the adoption of ECCs. Rapid industrialization and
rising oil prices are further boosting the ECC market. The market
for ECCs is expected to continue growing as stricter emission
standards are implemented and the need to reduce environmental
pollution becomes increasingly important.
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Market Challenges
- The long-term effects of pollution and the necessity to reduce
emissions have led to a heightened focus on electric vehicles (EVs)
as an environmentally-friendly solution. Strict emission
regulations in regions such as APAC, North America, and Europe, coupled with tax incentives for EV
adoption, are driving market growth. Governments worldwide offer
incentives for EV manufacturers and buyers, with examples including
the US's federal tax rebate of up to USD7,500 and China's tax incentive of up to USD9,280. The increasing EV product portfolio of
top Original Equipment Manufacturers (OEMs) is also contributing to
market growth, with about 50 best-selling hybrid models and 20 pure
EV models currently available, and new launches such as the Nissan
Rogue and Kia Niro. However, this
shift towards EVs may negatively impact the Emission Control
Catalysts (ECCs) market as the adoption of EVs reduces the demand
for traditional vehicles and, consequently, the need for ECCs.
- The Emission Control Catalysts market faces challenges in
various sectors like turbines for renewable energy and the
automotive industry. Three-way catalysts, including gasoline
particulate filters and diesel oxidation catalysts, are crucial for
reducing harmful emissions. Diesel particulate filters and Lean NOx
traps are essential for diesel engines. Primary chemicals like
platinum group metals, rare earth oxides, aluminum oxide, TiO2,
V2O5, and WO2 are key catalyst components. SCR technology using
ammonia or urea is popular for reducing NOx emissions. Metal
catalytic converter types, such as those containing Platinum,
Rhodium, and other metals, are in high demand. The market includes
mobile emission solutions for automotive applications and
stationary emission solutions for industrial use. Challenges
include trade and economics, as well as regulations for NOx, HC,
CO, SOx, and VOCs.
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Segment Overview
This emission control catalysts market report extensively covers
market segmentation by
- Application
- 1.1 Mobile emission
- 1.2 Stationary emission
- Type
- 2.1 Palladium
- 2.2 Platinum
- 2.3 Rhodium
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Mobile emission- The Emission Control
Catalysts (ECCs) market is experiencing significant growth due to
increasing regulations aimed at reducing automobile emissions.
Nearly all new vehicles sold globally are now equipped with these
catalysts, with platinum-based autocatalysts particularly popular
in diesel-powered vehicles. Environmental conservation efforts and
stricter regulations are driving market growth. The automotive
industry's focus on advanced emission control catalysts and
technologies is also contributing to market expansion. However, the
decline in diesel vehicle sales and the rising popularity of
electric vehicles (EVs) may hinder market growth. Despite this,
increasing EV demand, charging infrastructure development,
government subsidies, and declining EV prices are expected to drive
the global demand for EVs, which could create new opportunities for
ECCs in this segment. Stringent regulations and consumer awareness
regarding sustainability continue to increase the adoption of ECCs
in automobiles, making the automotive industry the key contributor
to the market's considerable growth during the forecast period.
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Research Analysis
The Emission Control Catalysts (ECC) market refers to the
production and sale of catalysts used to reduce harmful emissions
from mobile sources, such as automobiles, and stationary sources,
including power generation plants and industrial processes.
Emission standards continue to evolve, driving demand for advanced
catalytic converters that neutralize harmful hydrocarbons, nitrogen
oxides, and CO2 emissions. Mobile sources, particularly
automobiles, are significant contributors to urban air pollution,
making emission control a critical issue in metropolises with high
vehicular populations. Catalytic converters, often made of metals
like Platinum, Rhodium, and other metals, play a crucial role in
automotive emission control. In the industrial sector, Lean NOx
Traps and other technologies are used to minimize stationary
emission. Battery electric vehicles and internal combustion engines
both face unique emission control challenges. Harmful chemicals,
such as sulfur dioxide and particulate matter, also require
specific catalytic solutions. The market for ECC is expected to
grow significantly due to increasing urbanization, stringent
emission norms, and the ongoing shift towards cleaner energy
sources.
Market Research Overview
The Emission Control Catalysts (ECC) market encompasses the
production and application of catalytic converters and related
technologies used to reduce harmful emissions from mobile and
stationary sources. Mobile sources include automobiles,
particularly those with internal combustion engines, which emit
nitrogen oxides, hydrocarbons, and carbon monoxide. Stationary
sources include power generation plants, industrial processes, and
mining operations, which release harmful chemicals and contribute
significantly to industrial emissions and air pollution. Emission
standards, set by governments and regulatory bodies, drive the
demand for ECCs. Catalytic converters, such as three-way catalysts,
gasoline particulate filters, diesel oxidation catalysts, and
diesel particulate filters, are essential components in reducing
these emissions. Platinum group metals (PGMs) and rare earth oxides
are primary materials used in catalytic converters. The automotive
sector, urbanization, and rapid industrialization have led to
increasing concerns about environmental issues, including CO2
emissions, air quality, and health hazards. Governments and
automobile manufacturers are investing in lighter vehicles, hybrid
vehicles, and battery electric vehicles to reduce emissions.
Financial incentives, such as purchase bonuses and tax savings,
encourage consumers to adopt these technologies. Oil prices and the
availability of renewable energy sources also impact the ECC
market. Stringent emission standards and the shift towards cleaner
technologies are expected to drive market growth. SCR systems,
which use ammonia or urea to reduce NOx emissions, are gaining
popularity in power stations, chemical plants, and stationary
diesel engines. TiO2, V2O5, WO2, and zeolites are commonly used in
SCR technology. Trade and economics, labor, stimulus packages, and
other factors influence the ECC market's growth and development.
The mining industry, metal production, and other industries also
contribute to emissions and the demand for ECCs. Overall, the ECC
market is essential in addressing environmental concerns and
ensuring compliance with emission standards.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Mobile Emission
- Stationary Emission
- Type
-
- Palladium
- Platinum
- Rhodium
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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