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  • Automotive Catalyst Market, Size, Share, Outlook and Growth Opportunities 2019-2026

    (, March 27, 2020 ) Market Overview
    The global Automotive Catalyst market is growing at a CAGR of 3.8 % during the forecast period (2019-2026).
    Automotive catalysts have been used to reduce atmospheric emissions, due to significant parcels of the global emissions of pollutants agents provoked by vehicles. The development of catalysts only was possible with the improvement in automotive engines as the replacement of carburetion system for electronic injection and introduction of the catalyst in the exhaust systems.
    These were introduced in the 70s decade, because some countries established restricting laws related to emissions of carbon monoxide (CO), nitrogen oxides (NOx) and hydrocarbons (HC) by the engines. These products generated by the combustion process are extremely harmful to health and the environment. For example, CO combined with hemoglobin in the bloodstream promotes the reduction of oxygen-active sites that provokes asphyxia.

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    Market Dynamics
    Government initiatives for reduction of emission worldwide, rise in production of automobile and increasing adoption of nanotechnology in catalytic converters are the major drivers impacting the market growth.
    Government initiatives for reduction of emission worldwide is the major driver for the growth of the market. To meet the stringent regulations set by the government, automobile manufacturers are focusing to produce vehicles with emission control technologies. For instance, In India, Mahindra Cars has announced in July 2019 that Mahindra Alturas SUV Will Soon Get A BS6-Ready Engine. The Alturas diesel powertrain, which is currently BS4-compliant, can be easily calibrated to meet the upcoming BS6 emission norms.
    The governments of developed countries have established emission control standards to control release of pollutant from vehicles into the atmosphere. For instance, Euro 6, European emission standards is a European government initiative for emission control in the European region. Governments are taking stringent actions worldwide, if emissions rules are not followed by the automobile companies. On September 18, 2015, the EPA issued a Notice of Violation to Volkswagen after determining that the company had manufactured and installed software that substantially reduced the effectiveness of the emissions control system of the diesel vehicles. In 2017, the company was fined USD 2.8 billion for criminal violations in the United States, and in 2018, it was fined the equivalent of USD 1.2 billion in Germany.
    High cost of Automotive catalyst and growth of electric vehicles are the majors hindering the growth of the market worldwide. China, India, Japan, and the Korea Republic already have developed the automobile industry and increasingly invading into electric vehicles technologies, which will further restraint the growth in automotive catalyst market.

    Segment Analysis
    By engine type, the Automotive Catalyst market is segmented into gasoline and diesel. Diesel segment is further divided into diesel oxidation catalyst (DOC), diesel particulate filter (DPF) and selective catalytic reduction (SCR). The global Automotive Catalyst market size by engine type was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Increasing adoption of gasoline-powered passenger cars and light commercial vehicles is the major driving factor for the market growth. There is a steady increase in world production of vehicles powered by gasoline leading to constant research in order to improve the catalysts already known and to develop new models.
    Some technologies have been developed, adapting the engine for the mixtures of fuels like gasoline with predetermined composition. The addition of ethanol in gasoline decreases the concentration of CO emissions, making this process a very interesting technology. Some countries are planning to employ this technology. For instance, since about 85% of the cars produced in Brazil are equipped with this technology.
    By vehicle type, the Automotive Catalyst market is segmented into passenger vehicle, and commercial vehicle. The global Automotive Catalyst market size by metal type was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. In order to reduce the emissions of HC, CO and NOx in vehicle exhaust three-way catalytic converters have widely been implemented in automotive engines during recent years. Technologies developed for passenger cars may gradually translate to heavy-duty on-road vehicles and off-road vehicles.
    A weight-staggered approach is followed in the EU for light duty vehicles. From 2005/2006 onwards PM emissions shall not exceed 0.04 g/km (1305 to 1760 kg) and 0.06 g/km (vehicles > 1760 kg) respectively. Three-way catalytic converters have been fitted mandatorily to passenger cars in the EU since 1990. Similar obligations came into force back then in other UNECE countries, US and Canada as well.
    By metal type, the Automotive Catalyst market is segmented into platinum, palladium and rhodium.

    Geographical Analysis
    The North America global automotive catalyst market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. North America is dominating the global automotive catalyst market in 2018 and estimated to hold largest market size over the forecast period 2019-2026. Emission control regulations by government and increase in automobile production are the major factors for the market growth in North America. In the United States, emissions standards are managed nationally by the Environmental Protection Agency (EPA). State and local governments may apply for waivers to enact stricter regulations.
    The automotive industry caused a massive shift in the industrial revolution because it accelerated growth by a rate never before seen in the U.S. economy. For instance, about 3,000 automobile companies have existed in the United States. While the American automakers were investing in or buying foreign competitors, the foreign automakers continued to establish more production facilities in the United States and this acts a major reason for the automotive catalyst market in North America.
    The Asia Pacific global automotive catalyst market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX% during the forecast period. Asia Pacific is expected to grow with high CAGR in the estimated period. Automobile manufacturing is increasing year on year basis which place a vital role for the market growth especially in China and India. For instance, as per China Association of Automobile Manufacturers China manufactured 28.12 million and sold 28.03 million cars in 2016, up 14.5 percent and 13.7 percent respectively, the eighth year in row of being the world's largest automobile market.

    Competitive Landscape
    The Automotive Catalyst market is a highly competitive with new players entering the market. Some of the major players include CDTi Advanced Materials, Inc Ecocat India Pvt. Ltd, Tenneco Inc, Johnson Matthey, Klarius Products Ltd, BASF SE, Clariant, Eberspcher, Umicore and Cummins Inc.
    Companies are focusing to launch high perform solutions to the end users in the market due to the high competition. For instance, In June 2018, Clariant expanded its range of Envicat catalyst to incorporate high-performance solution for selective catalytic reduction (SCR).
    In December 2017, BASF expanded its mobile emission catalysts production site in Środa Śląska, a town in Poland. This expansion involves the addition of new production lines and increased the manufacturing site by 14,000 square meters.
    In March 2017, Umicore has announced the acquisition of the combined 50% shareholdings of Samkwang Glass Ind. Co., Ltd. and OCI Company Ltd. in the South Korean automotive catalyst joint venture, Ordeg Co. Ltd. for USD 92 million.

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