Emission Control Catalyst Market Advancement Strategy, Main Top Players, Analysis and Forecast To 2024 “Global emission control catalyst market size was 1,978 kilo tons in 2015. Rising awareness towards reduction of carbon footprints along with stringent norms implemented by government towards reduction of harmful pollutants from industries and automotive combustion will create substantial demand for these catalyst in the near future.”
Industry Insights Global emission control catalyst market size was 1,978 kilo tons in 2015. Rising awareness towards reduction of carbon footprints along with stringent norms implemented by government towards reduction of harmful pollutants from industries and automotive combustion will create substantial demand for these catalyst in the near future. Emission control catalyst are designed to breakdown harmful particles which are generated inside exhaust system of automotive engines and industrial machinery. Rising number of installation of catalytic converter by major automotive players including BMW, General Motors, Volkswagen and Ford Motors will create immense market potential over the forecast period. Increasing automobile production in developing countries including China, India, Mexico and Iran will increase the product demand over the next eight years. Presence of strict regulation norms regarding emissions in various developed countries including the U.S., and UK is expected to fuel product demand over the forecast period. High dependence on temperature fluctuation for the product performance is expected to pose a challenge to the market growth over the forecast period. Volatility in platinum based catalyst prices owing to unavailability of noble metals is anticipated to hinder industry expansion over the upcoming years. Increasing investments in platinum-rhodium-palladium based manufacturing facilities by key players including BASF and Johnson Matthey will open new market avenues over the upcoming years.
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