What Is the Growth forecast for the Automotive Catalyst Market?
The automotive catalyst market has shown strong growth in recent years, increasing from $18.13 billion in 2024 to $19.16 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. Factors such as the growth of the automotive industry, environmental awareness, emission regulations, and economic growth were key contributors to this growth. Looking ahead, the automotive catalyst market size is forecasted to experience robust growth, reaching $24.56 billion in 2029 at a CAGR of 6.4%. Rising vehicle production, electric vehicle adoption, global urbanization, growing disposable income, and government support are all expected to fuel this growth in the coming years.
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What Factors Are Driving the Automotive Catalyst Market Growth?
Government initiatives on emissions are key drivers for the growth of the automotive catalyst market going forward, particularly in India where the government is focusing on various programs to control emissions into the atmosphere. Catalysts like noble metal, base metal, and transition metal catalysts play a crucial role in controlling automobile exhaust gas emissions. The Indian government’s ambitious plan to reduce total carbon emissions by 1 billion tonnes and the economy’s carbon intensity to less than 45% by January 2022, is expected to stimulate the growth of the automotive catalyst market.
Which Major Segments Are Covered In The Automotive Catalyst Market Report?
The report segments the automotive catalyst market as follows:
– By Product: Two-Way Catalytic Converter, Three-Way Catalytic Converter, Diesel Oxidation Catalyst
– By Raw Material: Rhodium, Platinum, Palladium
– By Application: Heavy-Duty Vehicle, Light-Duty Vehicle, Other Applications
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Who Are The Major Players In The Automotive Catalyst Market?
Major companies operating in the automotive catalyst market include BASF SE, Johnson Matthey, Umicore N.V., Tenneco Inc., Clean Diesel Technologies Inc., Cummins Inc., Ecocat India Pvt. Ltd., Clariant, Cataler Corporation, Interkat Catalyst GmbH, Heraeus Precious Metals GmbH & Co. KG, DCL International Inc., Solvay S.A, Eberspächer, N.E. CHEMCAT CORPORATION, Klarius Products Ltd., CDTi Advanced Materials Inc., IBIDEN Co. Ltd., Sinocat Environmental Technology Co. Ltd., Haldor Topsoe A/S, Corning Incorporated, W. R. Grace & Co., Sino-Platinum Metals Co. Ltd., N.V. Bekaert S.A., Sibanye-Stillwater, Tanaka Holdings Co. Ltd., Clariant International AG, CRI Catalyst Company LP, Catalytic Combustion Corporation, and Cormetech Inc.
What Are The Emerging Trends In The Automotive Catalyst Market?
Advancements in technology are a significant trend in the automotive catalyst market. Companies are developing new technological solutions to maintain their competitive edge. One such technology, launched by BASF Environmental Catalyst and Metal Solutions, is Verdium which helps track and validate the carbon footprint of recycled platinum group metals (PGMs) used in automotive catalysts and other applications. This initiative will not only reduce carbon emissions but will also bring transparency and traceability to the PGM value chain, aligning with the rising environmental and sustainability demands in the industry.
Which Region Is Expected To Become The Fastest-Growing In The Automotive Catalyst Market?
Europe was the largest region in the automotive catalyst market in 2024. However, in the forecast period, North America is expected to be the fastest-growing region. The report covers the automotive catalyst market in regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Automotive Catalyst Market Report 2025 Offer?
The automotive catalyst is a key component in a vehicle’s exhaust system designed to reduce harmful emissions produced by the engine. It is part of the catalytic converter, a device that converts toxic pollutants in the exhaust gases into less harmful substances before they are released into the atmosphere. The catalyst is usually made from precious metals like platinum, palladium, and rhodium which act as catalysts for chemical reactions that neutralize pollutants. The Automotive Catalyst Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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