New York, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Emission Control Catalyst Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" - https://www.reportlinker.com/p06485352/?utm_source=GNW
due to growing people’s preference towards cleaner fuels.Worldwide, nine out of ten people inhale unhealthy air.
Air pollution is one of the major environmental risks for early death, accounting for more than 6 million premature deaths annually from heart attacks, strokes, diabetes, and respiratory diseases.
The global emission control catalyst market refers to the market for materials that are used to reduce harmful emissions from industrial processes, transportation, and other sources.These materials, known as emission control catalysts, are typically used in exhaust systems and other equipment to convert harmful pollutants into less harmful substances before they are released into the atmosphere.
The automotive industry is a major consumer of emission control catalysts as regulations governing vehicle emissions become increasingly stringent. Other industries that use emission control catalysts include power generation, oil and gas, and chemical manufacturing.
The global emission control catalyst market is expected to continue to grow in the forecasted periods, driven by increasing environmental awareness, tightening regulations, and the growing adoption of cleaner technologies.Another, the growing awareness of environmental issues such as air pollution and climate change has led to increased public pressure on governments and industries to take action to reduce emissions.
This has created a strong demand for emission control catalysts as a means of reducing harmful emissions. However, the market is also subject to various challenges, including high costs, technical complexities, and regulatory uncertainties.
Growing Awareness of the Harmful Effects of Air Pollution is a Factor Driving the Market Demand
The growing awareness of the harmful effects of air pollution is having a significant impact on the global emission control catalyst market.As public concern about the health and environmental impacts of air pollution continues to rise, governments around the world are implementing increasingly stringent regulations aimed at reducing emissions from various sources.
On average, one out of 10 people around the world died due to the disease born by air pollution, which contributed to 11.65% of deaths globally last year. This has led to a significant increase in demand for emission control catalysts as industries seek to comply with these regulations. The automotive industry, for example, has been a major driver of demand for emission control catalysts, as increasingly strict emission standards have been implemented in many countries around the world. The use of emission control catalysts has become essential for meeting these standards and avoiding penalties for non-compliance.
In addition to regulatory drivers, the growing awareness of the harmful effects of air pollution has also created a strong consumer demand for cleaner products and technologies.This has led to the increasing adoption of electric and hybrid vehicles, which require emission control catalysts to reduce the emissions produced by internal combustion engines.
This trend is expected to continue to drive demand for emission control catalysts in the automotive sector in the coming years.Therefore, the growing awareness of the harmful effects of air pollution is likely to continue to drive demand for emission control catalysts in a wide range of industries.
This presents opportunities for companies in the emission control catalyst market to develop new and innovative products that can help industries reduce their environmental impact and comply with increasingly stringent regulations. Hence, all these factors will increase the global emission control catalysts market in the forecasted period.
Efforts for Reducing Emissions to Meet Environmental Regulations are a Propelling Factor
Reducing emissions to meet environmental regulations is a major driver of the global emission control catalyst market.Environmental regulations have become increasingly stringent in recent years, requiring industries to reduce their emissions of harmful pollutants such as nitrogen oxides, sulfur oxides, and particulate matter.
This has created a strong demand for emission control catalysts across a wide range of industries.
The automotive industry is a major consumer of emission control catalysts as regulations governing vehicle emissions become increasingly stringent.For example, the European Union’s Euro 6 emission standards require vehicles to emit significantly less nitrogen oxide than previous standards, leading to a growing demand for advanced emission control catalysts that can meet these requirements.
Similarly, the US Environmental Protection Agency’s Tier 3 emission standards require new vehicles to emit fewer pollutants, leading to a growing demand for emission control catalysts in the US market.
The power generation industry is another significant consumer of emission control catalysts as regulations governing emissions from power plants become increasingly strict.The use of emission control catalysts can help power plants reduce their emissions of nitrogen oxides, sulfur oxides, and particulate matter, which can help them comply with these regulations.
In addition to regulatory drivers, the desire to reduce emissions and mitigate the impact of climate change is also driving the demand for emission control catalysts.The increasing adoption of cleaner technologies, such as electric vehicles and renewable energy sources, has created a growing demand for emission control catalysts in the production and operation of these technologies.
Hence, all these regulators and government efforts are expected to propel the global market.
Technological Advancement Is a Key to Attract Customers and Increasing the Market Growth
Technological advancements have had a significant impact on the global emission control catalyst market. These advancements have made it possible to develop new and more efficient emission control catalysts that can reduce emissions more effectively than ever before. The impact of technological advancement can be seen in several areas:
Improved Catalyst Performance: Technological advancements have enabled the development of emission control catalysts that can achieve higher levels of performance than earlier generations of catalysts. For example, advances in catalyst design have led to the development of catalysts that are more effective at reducing emissions of nitrogen oxides, sulfur oxides, and particulate matter.
Lower costs: Technological advancements have also led to the development of more cost-effective emission control catalysts. For example, improvements in manufacturing processes have led to lower production costs for some types of catalysts, making them more accessible to a wider range of industries.
Nanocatalysts: Nanocatalysts are a relatively new type of emission control catalyst that uses nanoparticles to improve catalytic activity and reduce the amount of precious metals needed in the catalyst.Several companies have launched nanocatalysts that are designed to improve the performance and durability of emission control systems while reducing costs and environmental impact.
Nanocatalysts are becoming increasingly popular in the automotive industry, where they are used to reduce emissions from gasoline and diesel engines.
Three-way catalysts: Three-way catalysts are emission control catalysts that can simultaneously reduce emissions of nitrogen oxides, carbon monoxide, and hydrocarbons from gasoline engines.Several companies have recently launched new three-way catalysts that are designed to improve performance and reduce costs.
These catalysts are becoming increasingly important as the automotive industry transitions to more stringent emission regulations and as the demand for cleaner and more efficient engines grows.
Diesel oxidation catalysts: Diesel oxidation catalysts are emission control catalysts that can reduce emissions of carbon monoxide, hydrocarbons, and particulate matter from diesel engines.Several companies have launched new diesel oxidation catalysts that are designed to improve performance and reduce costs.
These catalysts are becoming increasingly important as the demand for cleaner diesel engines grows, particularly in the commercial and industrial sectors.
Recent Development
• In 2020, BASF announced plans to build a new production plant for mobile emission catalysts in Shanghai, China. The new plant will be the company’s second production site for mobile emission catalysts in China and is expected to be operational by 2023.
• In 2019, Johnson Matthey announced plans to build a new manufacturing plant for automotive catalysts in Poland. The new plant is located in Gliwice and produces catalysts for gasoline and diesel engines.
Market Segmentation
Global emission control catalyst Market is segmented based on product type, application, end-user industry, and region.Based on product type, the market is segmented into palladium, platinum, ammonia oxidant catalyst, diesel oxidant catalyst, rhodium, and others.
Based on the product, the market is categorized into mobile emission control catalysts and stationary emission control catalysts.Based on application, the market is fragmented into mobile emission control catalysts and stationary emission control catalysts.
Based on the end user industry, the market is fragmented into automotive & transportation, chemical industry, oil & gas industry, mining industry, power industry, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.
Company Profiles
BASF SE, Johnson Matthey Plc, Solvay SA, Umicore SA, Corning Incorporated, Clariant AG, AeriNOx Inc, CORMETECH, INC., Cataler Corporation, and DCL International Inc are some of the key players in global emission control catalyst Market.
Report Scope:
In this report, global emission control catalyst market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Emission Control Catalyst Market, By Product Type:
o Palladium
o Platinum
o Ammonia Oxidant Catalyst
o Diesel Oxidant Catalyst
o Rhodium
o Others
• Emission Control Catalyst Market, By Application:
o Mobile Emission Control Catalysts
o Stationary Emission Control Catalysts
• Emission Control Catalyst Market, By End User Industry:
o Automotive & Transportation
o Chemical Industry
o Oil & Gas Industry
o Mining Industry
o Power Industry
o Others
• Emission Control Catalyst Market, By Region:
o North America
United States
Mexico
Canada
o Europe
France
Germany
United Kingdom
Spain
Italy
o Asia-Pacific
China
India
South Korea
Japan
Australia
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in the global emission control catalyst market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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