Industry Outlook and Trend Analysis
The Emission Control Catalyst Market was worth USD 8.56 billion in 2014 and is expected to reach approximately USD 20.66 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 10.29% during the forecast period. Emission Control Catalyst has a place with a class of which is utilized to change over harmful gases and toxins in exhaust gas to less lethal contaminations. These are utilized to part the solid particulates in engine exhaust systems of industrial apparatus and transportation vehicles. Numerous nations over the globe are using advance catalyst technologies including diesel oxidation catalyst (DOC), diesel particulate filter (DPF), and particular reactant diminishment (SCR). These are generally used as a part of use, for example, industrial, transportation, among others.
Type Outlook and Trend Analysis
Platinum is the most active catalyst and a commonly used valuable metal in catalytic converters in gasoline motors. It is useful as both a decrease and an oxidation catalyst. The usage of platinum from the auto catalyst division is in charge of over 33% of the aggregate platinum demand. Platinum is majorly used as a part of diesel vehicles since it goes about as both an oxidation and a decrease operator to lessen emissions of sulphur. Palladium based ECCs are anticipated to constitute the quickest developing material type fragment of the ECC market.
Application Outlook and Trend Analysis
The automotive sector is the biggest market for valuable metal-based emission control catalysts and represents the biggest share of the aggregate emanation control catalyst market estimate regarding esteem. The demand for platinum group metals is anticipated to develop at a quick rate in the automotive business as these assets are predominantly utilized in catalytic converters for light duty vehicles and heavy duty vehicles and furthermore in the locomotive and marine industry. The most famous and effective catalytic technology utilized before for vehicles was oxidation catalysis which has now been supplanted by considerably more proficient three-way catalytic converter technology.
Regional Outlook and Trend Analysis
Europe has risen as the main market area for Emission Control Catalyst trailed by North America and Asia Pacific. In Europe, nations, for example, France, Italy, Spain, Russia, UK, and Germany have raised as the significant consumer market because of stringent emanation controls, for example, Euro 6, and ceaseless development in automotive generation. Germany is anticipated to develop with the solid CAGR by virtue of solid automotive manufacturing base alongside moving producer's inclination towards Emission Control Catalyst. North America is anticipated to enrol a direct development in the Emission Control Catalyst by virtue of rising ecological concern and awareness with respect to the destructive parts of contamination.
The leading players in the market are BASF Catalysts, Corning Technologies Pvt Ltd, Clariant, Johnson Matthey, Umicore and Solvay S.A. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Emission Control Catalyst Market is segmented as follows-
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?