The global emission control catalyst market is projected to reach USD 16.09 billion by 2021, registering a CAGR of 10.37% from 2016 to 2021. Emission control catalysts are used to breakdown the harmful pollutants in the exhaust system of an automotive or any industrial machinery to release less harmful pollutants into the environment. The strict emission regulations standards set by the EU, adoption of EU equivalent emission standards by China and other Asia-Pacific countries, and increase in the demand for diesel oxidation catalysts is driving the emission control catalyst market. The emission control catalysts are a major segment in the catalyst market which is extremely vital for the automobile industry.“Platinum based ECC: The fastest-growing product segment of the ECC market”
Platinum is the most active catalyst and a widely used precious metal in catalytic converters in gasoline engines. It is used as both a reduction and an oxidation catalyst. The stringent regulations governing automobile exhaust emissions are driving the market demand for platinum-based emission control catalysts. Platinum has always been favored for use in diesel engines after treatment because the exhaust stream of a diesel engine is a highly oxidizing environment and under these conditions, palladium is easily converted to a less catalytically active palladium oxide whereas platinum remains in its metallic form
“Europe: The fastest-growing market for ECC”
Europe is estimated to be the fastest-growing market for ECC. Market growth in the region can be attributed to the expansion of production capacity and high demand for end-use products, among other factors (EU emission standards, gradual switch to diesel cars). The high demand for ECC in the Europe has prompted expansion activities by key players in this region, making it the fastest-growing regional market for ECCs.
The information in this study has been validated through primaries conducted with various industry experts across the globe. These primary sources have been divided into three categories: by company, by designation, and by region.
- By Company Type- Tier 1- 46%, Tier 2- 31%, and Tier 3- 23%
- By Designation- C Level- 54%, D Level- 31%, and Others- 15%
- By Region- North America- 23%, Europe- 31%, Asia-Pacific- 38%, and RoW- 8%
The report will help leaders/new entrants in the market in the following ways:
- The report segments the ECC market comprehensively and provides the closest approximations of the revenue for the overall market and the subsegments across different verticals and regions.
- The report helps stakeholders to understand the pulse of the market and provides information on key market drivers, restraints, and opportunities.
- The report helps stakeholders to better understand their competitors and gain additional insights into the business. The competitive landscape section includes a competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.