The Global Emission Control Catalysts Market has been estimated at USD XX.XX billion in 2014 and is projected to reach USD XX.XX billion by 2020, at a CAGR of 10.46% during the forecast period from 2014 to 2020. Emission control catalysts are the catalysts which aid in reducing particulate matter, hydrocarbons, nitrogen oxides, and other emissions from the power plants, automobiles, and other sources. Precious metals such as platinum, palladium, rhodium, and vanadium are used as catalysts for coating ceramic beads in catalytic converters (used in automobiles and industrial processing units).
The Emission Control Catalysts on the basis of applications can be segmented into mobile emission control and stationary emission control catalysts. Stationary emission control catalyst are used in stationary sources of emissions such as power plants, whereas, mobile emission control catalysts are used majorly in mobile applications such as automobiles, marine, and aircrafts.
This market is driven by a number of factors, such as increasing penetration of diesel engine vehicles in the Asia-Pacific region, enactment of stringent emission norms to reduce or minimize the harmful emissions, and increase in the average age of the vehicles. However, this market faces certain drawbacks, such as increasing penetration of battery electric vehicles and limited reserves of precious metals such as platinum. The aforementioned factors may act as a roadblock to the growth of the market.
The Global Emission Control Catalysts market, on the basis of metal can be segmented into platinum, palladium, rhodium, and others (vanadium and tungsten). In addition, on the basis of end-user industry can be segmented into industrial, automotive, and others. The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, and Rest of the World. In terms of consumption in 2014, Asia-Pacific led the market with a share of XX.XX%. Consistent improvement in the economic conditions in the Asia-Pacific countries, especially in India and China, has led to improvement in the financial status of the consumers, which in turn has boosted the demand for and production of automobiles. In addition, a rise in the average life span of the vehicles in operation and increasing demand for and usage of light commercial vehicles (diesel engine vehicles) in China and India, will also propel the growth of the Emission Control Catalysts market in the Asia-Pacific region. Furthermore, with the consistent economic development in the region, the demand for energy is also increasing in countries such as Indonesia, Malaysia, India, China, and Singapore, which in turn will aid in boosting the demand for emission control catalysts.
Furthermore, with the growing adoption of SCR catalytic converter and increasing adoption of stationary emission control catalysts by petroleum industries in refining units (owing to growing environmental concerns), will offer numerous opportunities in the growth of the Global Emission Control Catalysts market. Some of the major companies dominating this market for its products, services, and continuous product developments are BASF, Johnson Matthey plc, Honeywell UOP, and Umicore SA, and CDTi.
Key Deliverables in the Study
Market analysis for the Global Emission Control Catalysts Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global Emission Control Catalysts market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped