The Automotive Catalyst Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Automotive Catalyst Market:
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According to The Business Research Company’s Automotive Catalyst Global Market Report 2024, The automotive catalyst market size has grown strongly in recent years. It will grow from $17.32 billion in 2023 to $18.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growth of the automotive industry, environmental awareness, emission regulations, economic growth.
The automotive catalyst market size is expected to see strong growth in the next few years. It will grow to $23.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to rising vehicle production, electric vehicle adoption, rising global urbanization, growing per capita disposable income, government support. Major trends in the forecast period include reducing precious metal content, lightweight catalysts, tailpipe emissions monitoring, smart catalysts, partnerships and collaborations.
Government initiatives on emissions are expected to propel the growth of the automotive catalyst market going forward. The Indian government is focusing on several programmes or initiatives for controlling emissions into the atmosphere. Different types of catalysts, such as noble metal, base metal, and transition metal catalysts, are employed in automobile exhaust gas emissions controls. According to IndiaSpend, an Indian-based non-profit media platform, the Indian government’s five new emission pledges plan to reduce total carbon emissions by 1 billion tonnes and the economy’s carbon intensity to less than 45% by January 2022. Therefore, government initiatives on emissions are driving the growth of the automotive catalyst market.
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The automotive catalyst market covered in this report is segmented
1) By Product: Two-Way Catalytic Converter, Three-Way Catalytic Converter, Diesel Oxidation Catalyst
2) By Raw Material: Rhodium, Platinum, Palladium
3) By Application: Heavy-Duty Vehicle, Light-Duty Vehicle, Other Applications
Technological advancements are a key trend gaining popularity in the automotive catalyst market. Major companies operating in the automotive catalyst sector are focused on developing new technological solutions to strengthen their position. For instance, in June 2021, Umicore, a Belgium-based materials technology and recycling group, launched a new automotive catalyst technology called ‘Onyx’ that reduces the amount of platinum required in catalytic converters. The Onyx technology uses a unique combination of materials and design to reduce the amount of platinum required by up to 40%, while still meeting the latest emission standards.
The automotive catalyst market report table of contents includes:
1. Executive Summary
2. Automotive Catalyst Market Characteristics
3. Automotive Catalyst Market Trends And Strategies
4. Automotive Catalyst Market – Macro Economic Scenario
5. Global Automotive Catalyst Market Size and Growth
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26. South America Automotive Catalyst Market
27. Brazil Automotive Catalyst Market
28. Middle East Automotive Catalyst Market
29. Africa Automotive Catalyst Market
30. Automotive Catalyst Market Competitive Landscape And Company Profiles
Top Major Players:
- Dana Holding Corporation
- American Axle & Manufacturing Inc
- Gelenkwellen-Service GmbH
- GKN-Walterscheid GmbH
- Hyundai Wia Corporation
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