Global Emission Control Catalysts Market Size, Drivers, Trends, Opportunities And Strategies – Includes Emission Control Catalysts Market Research
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Stringent regulations for controlling air pollution are expected to drive innovation in emission control catalysts manufacturing, thus driving the market during the forecast period.
The global emission control catalysts market is expected to grow from $22.08 billion in 2022 to $24.56 billion in 2023, at a compound annual growth rate (CAGR) of 11.3%. The emission control catalysts market size is expected to grow to $35.44 billion in 2027 at a CAGR of 9.6%.
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Global Emission Control Catalysts Market Segments Include:
- By Product:Palladium-Based ECC, Platinum-Based ECC, Rhodium-Based ECC, Other Products
- By Fuel Type:Diesel Vehicles, Gasoline Vehicles
- By Application:Mobile Emission Control Catalysts; Stationary Emission Control Catalysts
- By End User:Automotive and Transportation, Chemical Industry, Oil and Gas Industry, Mining Industry, Power Industry, Other End Users
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global emission control catalysts market in 2021.
Major Market Players in the emission control catalysts market include BASF SE, Johnson Matthey, Clariant, Honeywell International Inc., Tenneco Inc., Cataler Corporation, Heraeus Holding, Bosal, Cormetech, DCL.
Technological advancements are the key trends gaining popularity in the emission control catalyst market. Major companies operating in the emission control catalysts sector are focused on developing advanced technological solutions for emission control catalysts to strengthen their position in the market. For instance, in March 2020, BASF SE, a Germany-based chemical manufacturing company, launched a novel Tri-Metal Catalyst technology that allows high-priced palladium to be replaced with lower-cost platinum, which is utilized in light-duty gasoline automobiles, saving automakers costs. It will rebalance the global platinum group metals demand.
The Emission Control Catalysts Global Market Report 2023 provides a emission control catalysts market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The emission control catalysts market forecast analyzes emission control catalysts market size, emission control catalysts market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The emission control catalysts are used to control the harmful pollutants generated by combustion engines. Emission control catalysts break down the solid particulates from exhaust systems of industrial machinery and vehicles to reduce the content of pollutants generated into the environment. Emission control catalysts are simple and offer low-maintenance operation, durability, a relatively low cost, and negligible adverse effects on the engines.
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