Emission Control Catalysts Market to Reach USD 88.2 Billion by 2032 | Driven by Rising Regulatory Standards for Emission Reduction | Report by SNS Insider

The rise in demand for Emission Control Catalysts-based technologies continues to accelerate due to growing environmental concerns and advancements in emission control systems.

Austin, Nov. 11, 2024 (GLOBE NEWSWIRE) -- What is the growth of the Emission Control Catalysts market?

The Emission Control Catalysts Market Size was valued at USD 48.8 billion in 2023 and is expected to reach USD 88.2 billion by 2032 and grow at a CAGR of 6.8% over the forecast period 2024-2032.

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Emission Control Catalysts Market Report Scope:

Report Attributes

Details

Market Size in 2023

USD 48.8 billion

Market Size by 2032

USD 88.2 billion

CAGR

CAGR of 12.3% by 2024-2032

Market Opportunity

Rising Investment in Electric Vehicle (EV) Infrastructure Opens New Opportunities for Emission Control Catalysts

Market Segments

By Catalyst Material (Palladium based, Platinum based, Rhodium based, Others)

By Catalytic Type (Three-Way Catalysts (TWC), Selective Catalytic Reduction (SCR), Diesel Oxidation Catalysts (DOC), Lean NOx Traps (LNT), Four-Way Catalytic Catalysts (FWC))

By Application (Automotive, Industrial, Off-Road Vehicles & Equipment, Marine, thers)

Major Market Players

Ecover, BASF SE, Evonik Industries AG, Givaudan, Mitsubishi Chemicals, AkzoNobel, Saraya, MG Intobio,Lion Corp, Jeneil Biotech, Soliance, Sun Products, Kao Corp, Indorama Ventures, Chemtura, Croda, Hoilferm, Locus Bio-Energy, Solvay and other key players.

The Emission Control Catalysts market is being driven by technological advancements and the global focus on environmental sustainability, with stricter emission regulations in regions like Europe, North America, and Asia-Pacific pushing innovation in catalyst technology. In August 2024, BCIL opened an R&D lab in India to enhance its automotive emissions control capabilities, aiming to improve emission reduction systems in line with the rising demand for cleaner vehicles and evolving emission standards. This move aligns with a broader trend of companies investing in advanced research to develop catalysts that meet stringent regulations, including those for electric vehicles (EVs). Technological progress is also advancing catalyst efficiency, durability, and environmental impact, with AI and machine learning helping optimize materials. Companies are exploring innovative materials such as platinum and palladium to enhance catalyst performance. Global environmental consciousness is prompting policy changes and investments in sustainable solutions, accelerating the adoption of cleaner technologies and fostering the development of more efficient emission control systems across industries.

Top Companies Operating in the Emission Control Catalysts Industry Worldwide

BASF Catalysts LLC (BASF Emission Control Catalysts, Catalytic Converters)

BASF SE (Three-Way Catalysts, Diesel Oxidation Catalysts)

Ceram-Igni (Ceramic Diesel Particulate Filters, Catalytic Converter Substrates)

Clariant AG (Clariant Selective Catalytic Reduction, Clariant Diesel Oxidation Catalysts)

Corning Inc. (Corning Diesel Particulate Filters, Corning Honeycomb Substrates)

Ferro Corporation (Ferro Automotive Catalysts, Ferro Ceramic Filters)

Haldor Topsoe A/S (Selective Catalytic Reduction Systems, Diesel Oxidation Catalysts)

Honeywell International Inc. (Honeywell Selective Catalytic Reduction Technology, Honeywell Three-Way Catalysts)

Johnson Matthey PLC (JM Emission Control Catalysts, Diesel Oxidation Catalysts)

McDermott International, Inc. (Emission Control Solutions, SCR Systems)

Nippon Steel Corporation (Nippon Steel SCR Catalysts, NOx Reduction Catalysts)

Orion Engineered Carbons (Orion Engineered Catalysts, Activated Carbon for Emission Control)

Palladium Ltd. (Palladium Catalysts, Diesel Catalysts)

Peugeot Citroen (Peugeot Emission Control Systems, PSA Group SCR Technology)

Platinum Group Metals Ltd. (Platinum-based Catalysts, Automotive Catalysts)

Rio Tinto (Rio Tinto Platinum Group Metals, Emission Control Catalysts)

Sabic (Sabic Selective Catalytic Reduction, Emission Control Additives)

Shell Catalysts & Technologies (Shell SCR Catalyst, Shell Gasoline Catalysts)

Umicore S.A. (Umicore Automotive Catalysts, Umicore SCR Catalysts)

Volkswagen AG (Volkswagen Diesel Particulate Filters, Volkswagen SCR Systems)

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Which segment dominated the Emission Control Catalysts Market?

In 2023, the Three-Way Catalysts (TWC) segment dominated the emission control catalysts market with a market share of 55%. These catalysts are widely used in gasoline-powered vehicles due to their efficiency in reducing CO, hydrocarbons (HC), and NOx emissions simultaneously. The increasing production and sales of passenger vehicles, especially in developed regions, and the stringent emission standards set by the government, have contributed to the dominance of this segment. The growing shift toward gasoline-powered vehicles in regions such as North America and Europe, in addition to the continuous technological improvements in catalyst formulations, is expected to maintain its leadership position in the coming years.

What are the driving factors of the Emission Control Catalysts market?

Governments are continuously strengthening regulations related to vehicle emissions, driving demand for emission control technologies to comply with these stringent standards. This trend is particularly pronounced in Europe, North America, and Asia-Pacific, where regulatory frameworks are becoming more robust to combat air pollution.

Ongoing innovations in emission control catalyst technologies, such as the development of more efficient and durable catalysts, are propelling market growth. Catalytic materials like palladium, platinum, and rhodium are being enhanced to improve the overall performance of emission control systems.

The growing adoption of electric vehicles (EVs) and hybrid vehicles, which still require emission control systems, is driving innovation in emission reduction technologies. Manufacturers are focusing on integrating catalytic technologies into a wider range of automotive applications, ensuring long-term growth in the market.

What are the opportunities in the Emission Control Catalysts market?

As the adoption of electric and hybrid vehicles continues to rise, there is a significant opportunity for manufacturers of emission control catalysts to innovate solutions tailored to these newer vehicle technologies. With global EV sales expected to grow, the demand for advanced catalytic solutions remains strong.

The expansion of automotive production in emerging economies such as India, China, and Brazil is offering new opportunities for emission control catalysts in both automotive and industrial applications. Additionally, sectors like power generation and manufacturing are increasingly adopting emission reduction technologies to align with global environmental standards.

Which region dominated the Emission Control Catalysts market?

Asia Pacific dominated the emission control catalysts market in 2023, holding a market share of around 45%. This is due to rapid automotive production and industrialization in emerging economies like China and India. China, the world’s largest vehicle manufacturer, significantly contributed with stringent emissions regulations and a large vehicle fleet requiring advanced catalysts. In 2023, China accounted for over 25% of the global market. India’s growing automotive sector and stricter emission standards also fueled demand. Additionally, Japan’s focus on hybrid vehicles and green technologies, along with supportive government policies, boosted the region's dominance.

Recent Developments:

May 2024: Researchers from Northern Illinois University, Valparaiso University, and the United States Department of Energy’s (DOE) Argonne National Laboratory announced the development of a new family of catalysts designed to efficiently convert CO2 from industrial emissions into widely used chemicals.

November 2023: The CHASS project was launched to enhance the lifetime and efficiency of Cu-CHA catalysts, aiming to improve the environmental impact of diesel vehicles.

The Emission Control Catalysts market is anticipated to have strong growth, with ongoing technological advancements and regulatory pressures playing a key role in the adoption of emission control technologies. The market is experiencing steady expansion, with an increasing focus on reducing harmful emissions from vehicles and industries. The demand for advanced catalytic systems is also being supported by the shift toward electric and hybrid vehicles. Key regions like Europe and North America are witnessing the highest demand for emission control catalysts due to regulatory enforcement and environmental awareness. The market is expected to grow significantly, with new opportunities arising in emerging markets.

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BENEFITS:

1 No. Of Pages: 350 Pages Report

2 Regions/Countries:

North America (3 Countries)

Europe (~15 Countries)

Asia Pacific (~10 Countries)

Latin America (~5 Countries)

Middle East & Africa (~5 Countries) (Include Israel)

3 ME Sheet: Market Estimation in Excel Format

4 Company Analysis:

Major 16 companies covered in final report.

Additional 5 companies will be covered as per client demand complimentary.

5 Statistical Insights and Trends Reporting:

Vehicle Production and Sales Volumes, 2020-2032, by Region

Emission Standards Compliance, by Region

Vehicle Technology Adoption, by Region

Consumer Preferences, by Region

6 Buying Options

Single User License: USD 3350

Enterprise User License: USD 5350

Excel Data Sheet: USD 2350

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Total Addressable Market (TAM) Assessment

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