The Worldwide Emission Control Catalysts Industry is Expected to Reach $59.8 Billion by 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Emission Control Catalysts Market by Type (Palladium, Platinum, Rhodium), Application (Mobile Sources, Stationary Sources), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global emission control catalysts (ECC) market is estimated at USD 42.9 billion in 2021 and is projected to reach USD 59.8 billion by 2026, at a CAGR of 6.9% during the forecast period.

The market is driven by various factors, such as increase in the use of automotive diesel engines, and stringent emission regulations from the government. However, dependence of performance on temperature and loss of activity through poisoning and thermal deactivation can restrain the growth of the market.

Increase usage of gasoline engines leads to growing demand of palladium in catalytic converter

Palladium is one of the metals from the PGM group that dominates the catalytic converter technology. Palladium is used as an oxidation catalyst which is widely used in gasoline autocatalyst (petrol based engines) the in diesel engines. Palladium is not suitable for diesel-based autocatalyst because the fuel has high level of Sulphur content, which sticks to palladium but not platinum.

Stringent emission regulations in mobile sources to grow the demand for ECC

The mobile industry is the largest market for PGM based on ECC. The ECC market is derived further dividing the market into on road, and off road. Stringent emission regulations, and increasing pollution have increased the demand for ECC market.

APAC is expected to register the highest growth during the forecast period

APAC is expected to register the highest growth during the forecast period. Increasing population, growing industrialization, strict government norms, and environmental regulations are the key factors attributed to the overall growth of the market in the region. The increasing developments in the automotive industries in emerging countries of the region are providing huge growth opportunities for the ECC market.

Market Dynamics

Drivers

• Stringent Emission Control Regulations to Drive the Emission Control Catalysts Market
• Rising Demand for Diesel Oxidation Catalysts due to the Increasing Adoption of Diesel Engine Vehicles
• Rising Demand for Advanced Selective Catalytic Reduction (SCR) Systems in Heavy Diesel Engines
• Growing Aftermarket for Catalytic Converters Expected to Boost the Demand for ECC

Restraints

• Rising Demand for Battery-Operated Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs), and Hybrid Vehicles Supported by Government Incentives to Impact the Market for ECCs
• Possibility of Undesired Secondary Emissions by Precious Metals

Opportunities

• Rising Awareness Among Manufacturers in the Reduction of Vehicle Emissions by Installing Catalytic Converters
• Increasing Innovation and Focus on the Washcoat Technology

Challenges

• Decline in Global Automotive Industry Impacted by COVID-19
• Fluctuating Prices of Platinum Group Metals
• Loss of the Efficiency of Precious Metals Through Poisoning and Thermal Deactivation

Companies Mentioned

• BASF Catalysts
• Bosal
• Cataler Corporation
• CDTI Advanced Materials, Inc.
• Clariant
• Cormetech
• Cummins, Inc.
• DCL International Inc.
• Ecocat India Pvt. Ltd.
• Heraeus Holding
• Hitachi Zosen Corporation
• HJS Emission Technology GmbH & Co. KG
• Ibiden
• Interkat Catalyst GmbH
• Johnson Matthey
• Klarius Products Ltd
• Kunming Sino-Platinum Metals Catalyst Co. Ltd.
• Nett Technologies, Inc.
• NGK Insulators, Ltd.
• Shell Global
• Sinocat Environmental Technology Co. Ltd.
• Solvay
• Tenneco, Inc.
• Umicore
• Zelolyst International

For more information about this report visit https://www.researchandmarkets.com/r/syffz2