DUBLIN--(BUSINESS WIRE)--The "Automotive Catalyst Market Size, Share & Analysis, By Product Type, By Raw Materials, By Engine Type, By Application, by Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive catalyst market size is expected to reach USD 19.22 Billion in 2028, and register a CAGR of 4.3% during the forecast period. Increasing use of automotive catalysts for changing three main toxic compounds in a vehicle exhaust in to harmless compounds, coupled with increasing production and sales of automobiles globally are major factors driving market growth. These toxic compounds include hydrocarbons, carbon monoxide, and nitrogen oxide.
Other major factors boosting growth of the global automotive catalyst market are increasing awareness about need to reduce pollution, and stringent regulations and emission standards by governments of various countries.
High cost of the product, and shifting preference for electric vehicles across the globe, eliminating the need for automotive catalysts, are factors that could hamper market growth to some extent.
Some Key Findings From the Report:
- Among the product type segments, the three-way catalytic converters segment accounted for the largest revenue share in the global market in 2020. The diesel oxidation catalyst segment accounted for the second-largest revenue share in the global market in 2020.
- Among the raw material segments, the rhodium segment accounted for the largest revenue share in the global market in 2020. The palladium segment accounted for the second-largest revenue share in the global market in 2020. The platinum segment accounted for significantly high revenue share in the global market in 2020.
- The Asia Pacific market accounted for the largest revenue share in the global market in 2020, and is expected to register the highest revenue growth rate during the forecast period.
- Companies profiled in the market report include Johnson Matthey, Umicore, BASF, Clariant, Cataler, Interkat, Cummins, CDTi Advanced Materials, Heraeus, and Tenneco. Major players are adopting various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
Reasons to Buy the Report
- A robust analysis and estimation of the Automotive Catalyst Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Automotive Catalyst Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Market Dynamics
Drivers
- Stringent regulations on automotive emissions
- The rising emphasis on using vehicles with minimal gas emissions
- The increasing buying capacity of individuals in developing regions
Restraints
- The growing popularity of electric cars
Companies Mentioned
- Johnson Matthey
- Umicore
- BASF
- Clariant
- Cataler
- Interkat
- Cummins
- CDTi Advanced Materials
- Heraeus
- Tenneco
For more information about this report visit https://www.researchandmarkets.com/r/9j4hu6
