The growth of the automotive catalyst industry is fueled by factors such as government pollution control policies and increased vehicles demand. Automobile manufactures build vehicles with pollution control systems in order to conform to the government's strict regulations. The rise in acceptance and development of electric vehicles, on the other hand, is impeding the growth of the automotive catalyst industry. Furthermore, the high cost of precious metals such as rhodium, palladium, and platinum are used in automotive catalysts, restricts market expansion. Furthermore, government policies for pollution control in developed countries and innovation in emission technology for fuel efficiency are projected to provide the automotive catalyst industry with substantial potential growth opportunities.
It’s being expected that by 2028, the Automotive Catalyst market cap will hit USD 19.22 Billion at a CAGR growth of about 4.30 %.
The purpose of the report is to estimate the market size for global automotive catalyst industry and the future growth potential of the market for automotive catalyst across various segments, such as type, vehicle type, and the geography. Several countries' governments have implemented specific rules to limit pollutant gas emissions from automobiles caused by the combustion of fuels such as biodiesel, ethanol, fuel oil, and diesel. Euro 6 is the most recent European Union pollution law intended to eliminate toxic gases such as hydrocarbons, nitrogen oxide, carbon monoxide, and other emissions from a vehicle's exhaust system. Similarly, an automobile catalyst is used in a catalyst generator, which transforms poisonous and dangerous gases from engines into less-toxic contaminants.
Automobile demand and development have risen significantly in developed countries. For example, India's automobile industry expanded by more than 9.0 percent year on year to more than 4 million units in 2019, making it the world's fourth largest. If the market for automotive catalysts for pollution control devices in vehicle exhaust systems increases in developed countries, so does the demand for automotive catalysts. As a result, the automotive catalyst market is projected to rise in parallel with the growth in vehicle demand.
Leading companies included in automotive catalyst industry report are Clariant, Cataler, Johnson Matthey, BASF, Umicore, CDTI Advanced Materials, Tenneco, Interkat, Heraeus, and Cummins. Apart from above mentioned companies, some other key companies engaged in automotive catalyst industry are Ecocat, CRI Catalyst, NG Clark, Bosal, Magnetti Marelli, Sinocat, Ne Chemcat, and Ibiden.
Automotive Catalyst Market Scope
|Revenue forecast in 2028
|USD 19.22 Billion
|CAGR of 4.30% during 2018-2028
|By Product Type, By Raw Materials, By Engine Type , Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Johnson Matthey, Umicore, BASF, Clariant, Cataler, Interkat, Cummins, CDTi Advanced Materials, Heraeus, and Tenneco.
Key Segments of the Global Automotive Catalyst Market
Type Method (USD Billion)
- Platinum Catalysts
- Palladium Catalysts
- Rhodium Catalysts
Vehicle Type, (USD Billion)
- Light-Duty Vehicle
- Heavy-Duty Vehicle
Regional Overview, (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global Automotive Catalyst Market
- Johnson Matthey
- CDTI Advanced Materials
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of automotive catalyst market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on automotive catalyst market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the automotive catalyst industry and their strategic initiatives for the type development
- The study covers a qualitative and quantitative analysis of the market segmented based on type and vehicle type. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global automotive catalyst Market. The report will benefit: Every stakeholder involved in the automotive catalyst market.
- Managers within the automotive catalyst industry looking to publish recent and forecasted statistics about automotive catalyst market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global automotive catalyst market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.