The emission control catalyst market was valued at USD 46.3 million globally in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 3.7% over the course of the forecast period. Strict emission standards are being enforced by governments all around the world. increasing use of hybrid and electric cars, which depend on catalytic converters to meet emissions regulations. High-tech catalysts are being created for low-emission combustion engines and fuel-cell automobiles.

Catalysts are used in manufacturing, refineries, power plants, and chemical industries to reduce emissions of pollutants. Effective emission control systems are becoming more and more necessary as industrial activity grows, particularly in emerging countries.

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Growth Drivers

Advanced catalytic converters are required due to the rising air pollution caused by the growing number of cars in urban areas. Another important factor is the expansion of the vehicle aftermarket for catalytic converter replacement. Innovation in the industry is being propelled by research into a catalyst that is not based on PGM. Air pollution is rising in metropolitan areas due to the growing number of cars.

Catalyst efficiency is increasing due to advancements in platinum group metals such as palladium, platinum, and rhodium. High-tech catalysts are being created for low-emission combustion engines and fuel-cell automobiles. Strict emission standards are being enforced by governments all around the world. Increased consumer awareness and strict environmental restrictions are major factors driving market demand.

Segmentation

Emission Control Catalyst on the basis of Product

·         Palladium

·         Platinum

·         Rhodium

·         Others

Emission Control Catalyst on the basis of Application

·         Mobile Sources (Off Road and On Road)

·         Stationary Sources

Emission Control Catalyst Catalytic Converter Outlook

·         Diesel Oxidation Catalyst

·         Selective Catalytic Reduction

·         Lean NOx Trap

·         Three-way Catalytic Converter

·         Four-way Catalytic Converter

By Region

·         Asia-Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         Johnson Matthey

·         Solvay

·         Umicore SA

·         Corning Incorporated

·         Aerinox Inc.

·         Cormetech Inc.

·         BASF

·         DCL International Inc.

·         Shell Global

·         CLARIANT

·         CATALER CORPORATION

·         Other Players

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