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Emission control catalysts are used in catalytic convertors in order to reduce harmful emissions in the environment. Growing environmental concerns lead to the adoption of new materials, methods, processes, and technologies by the market players. To control a number of emissions is the top priority of governments, commercial, and industrial sectors. Catalysts for pollution control are used in catalytic converters to reduce the toxic carbon emissions. Growing environmental issues drive industry leaders to promote new products, approaches, systems, and technology. Regulation of a number of pollutants is the top priority of states, companies, and industry sectors.
Rising awareness of growing carbon emissions in the automobile industry and stringent air pollution management standards are expected to fuel the global demand for the market. Catalyst for pollution management allows dissolution of solid particulates in heavy equipment and transportation vehicle engine exhaust systems to reduce the toxic emissions in the environment; this positively affects the sector.
Key Market Driver -
– Increasing awareness of rising carbon emissions in the automobile industry, together with stringent air pollution control rules, is expected to fuel the global catalyst demand for emission reduction.
Key Market Restraint -
High prices associated with raw materials restraints the market growth.
However, low availability of platinum metals, expanded use in jewelry and building applications could lead to price rises that could hamper the global market.
Based on type, the market for emission control catalyst further segmented into palladium based ecc, platinum-based ecc, rhodium based ecc and others. Based on application, the market for emission control catalyst is further segmented into mobile sources and stationary source. Mobile source is further segmented into on-road and off-road . From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global emission control catalyst market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the emission control catalyst market market includes BASF SE, Johnson Matthey, Umicore, Corning, Solvay, Tenneco Inc., Cataler Corporation, Heraeus, Holdor Topsoe, Aristo Intelligent Catalyst Technology and others
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