DUBLIN--(BUSINESS WIRE)--The "Emission Control Catalysts Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for emission control catalysts is expected to witness a CAGR of around 5% during the forecast period. One of the major factor driving the growth of the market is the enactment of stringent emission norms.
- Impact of COVID-19 pandemic is likley to hinder the growth of the market studied.
- By metal, platinum segment is likely to dominate the market studied through the forecast period.
- Asia-Pacific dominated the market with the largest consumption coming from China, ASEAN Countries, and India.
Key Market Trends
Platinum - The Most used Metal
- Platinum is the most widely used metal for emission control applications, since it improves combustion.
- Improved combustion helps to reduce emissions and enhance the catalyst's performance.
- Since, platinum is effective under oxygen-rich conditions, it is used widely for diesel applications.
- Sources, such as, automobiles, refinery & petrochemical complexes, chemical industries, oil and natural gas processing plants, and pharmaceutical industries, among others, are discovering an increasing number of applications of platinum-based emission control catalysts.
China to Dominate the Asia-Pacific Market
- China is one of the fastest growing economies, globally. Furthermore, almost all the end-user industries have been witnessing growth, owing to the growing population, living standards, and per capita income.
- China is a hub for chemical processing, accounting for a major chunk of the chemicals produced globally. The country contributes more than 35% of the global chemical sales. The chemical industry is another prominent end-user industry in China. Many major companies in the market have their chemical plants in China. With the growing demand for various chemicals, globally, the demand for emission control catalysts from this sector is projected to grow during the forecast period.
- Moreover, the Chinese automotive manufacturing industry is the largest in the world. Though the industry witnessed a slowdown in 2018, wherein the production and sales declined. Similar trend continued, with the production witnessing a 7.5% decline in 2019. According to the China Association of Automobile Manufacturers (CAAM), automotive production is expected to decline by about 2% in the end of 2020.
- The Made in China 2025 initiative aims to support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. The Automobile Mid and Long-Term Development Plan was released in the April 2017, with an objective to make China a strong auto power in the next ten years. This growth in the automotive industry is likely to increase the consumption of emission control catalysts in the industry.
- However, due the onset of COVID-19, the economic growth of China has contracted considerably in 2020. Many manufacturing and associated activities have already taken a hit in early 2020, and the economic situation is expected to remain dire, if the manufacturing activities are not set back on track by mid-2020
The global emission control catalysts market is partially consolidated in nature, with the top ten players accounting for a major share of the global market. Some of the prominent players in the market include Clariant, BASF SE, Evonik Industries AG, Johnson Matthey, and Umicore, among others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.3 End-user Industry
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 BASF SE
6.4.3 CDTi Advanced Materials Inc.
6.4.6 DCL International Inc.
6.4.7 Evonik Industries AG
6.4.8 Haldor Topsoe A/S
6.4.9 Hitachi Zosen Corporation
6.4.10 IBIDEN Ceram GmbH
6.4.11 JGC C&C
6.4.12 Johnson Matthey
6.4.13 Nikki-Universal Co. Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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