Global Market for Emission Control Catalysts is Projected to Reach US$8.9 Billion by 2020

Stringent Regulations for Curbing Greenhouse Gas Emissions Drive Demand for Emission Control Catalysts, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Emission Control Catalysts markets. Global market for Emission Control Catalysts is projected to reach US$8.9 billion by 2020, driven by growing concerns over environmental pollution and legislation of stringent regulatory riders for curbing industrial and vehicular emissions.

Emission control catalysts are vital for automobiles and industrial machinery. Rapid industrialization and growing number of vehicle population worldwide are causing serious damage to the environment, negatively impacting air quality and human health. Emission control catalysts, against this backdrop of environmental alteration and loss of biodiversity, are becoming essential components of vehicles and industrial machinery, given their ability to reduce harmful emissions. The introduction of new environmental and vehicular emission regulations across the globe is helping drive demand for emission control catalysts. Stricter air quality standards and higher international commitment to achieve climate control goals are fuelling growth in developed markets such as the United States and Europe. Strong international pressure on developing countries to tackle air pollution as a result of large scale urbanization and industrialization is resulting in the introduction of new legislations in Asia-Pacific and Latin America. In the industrial sector, rising demand for electricity and the ensuing establishment of new power plants is generating market opportunities for industrial emission control catalysts. Projected rise in demand for exploration, extraction and transport machinery in the oil & gas sector also bodes well for growth in the market.

Expanding vehicle fleet worldwide as a result of rise in vehicle ownership in developing markets such as China and India is resulting in massive increases in automobile emissions. Auto OEMs are therefore under constant pressure to develop technology solutions that help lower emissions and carbon footprint of vehicles. As a result, most new vehicles manufactured now come with catalytic converters, located between the engine and the exhaust pipe, which cuts down pollution by converting nearly all of the emissions into less harmful gases through chemical reactions. Especially poised to benefit are high performance autocatalysts, especially catalysts based on platinum group metals including palladium and rhodium. Nitrous oxide emission control technologies and lightweight emission control systems are increasingly gaining prominence in the market.

As stated by the new market research report on Emission Control Catalysts, Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 7.8% over the analysis period. Strong automobile sales, robust industrialization and manufacturing activity, and growing efforts at dieselization of motor vehicle systems in key national economies, represent factors driving growth in the region.  

Key players covered in the report include AeriNox Inc., BASF Catalysts LLC, CDTi, Clariant International Ltd., Cormetech Inc., Corning Incorporated, DCL International Inc., Johnson Matthey Plc, Tenneco Inc., Walker Exhaust Systems, and Umicore SA, among others.

The research report titled “Emission Control Catalysts: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of industry segments, trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East, and Latin America (Brazil and Rest of Latin America). Product segments analyzed include Motor Vehicle Emission Control Catalysts and Industrial Emission Control Catalysts. The global market is further analyzed by Light Duty Vehicles and Others. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.