Pune, India, Nov. 18, 2021 (GLOBE NEWSWIRE) -- The Global Emission Control Catalyst Market Size was estimated to be worth USD 43.2 billion in 2021 and is projected to grow at a CAGR of 7.0% during the forecast period, according to a detailed market study by Quince Market Insights. Emission control is mainly utilized to breakdown the pollutants and toxic gases from the fumes of the exhaust system of industrial or automotive machinery to release minimum harmful contaminants in environment.
Get Sample Copy of This Report @ https://www.quincemarketinsights.com/request-sample-60578
Properties of catalysts such as insignificant opposing effects and low maintenance towards fuel and engines have increased its demand in the market. Additionally, the rising concern of the pollutants and toxic gas released from industrial and automotive domains such as CO (a product of partial combustion), and HC (half-burned fuel) are expected to drive the demand for emission control catalyst market.
In the recent years, the major automotive manufacturers comprising Volkswagen, General Motors, and Ford Motors have surged their spending for the installation of catalytic converters in engine systems of finished products. This trend is anticipated to play a key role in increasing the usage of emission control catalyst in engine systems of automotive vehicles during the forecast period.
Pollutants mainly includes the emissions from automakers and industrialists to add confident processes to check their emissions by embedding the engines with emission control devices such as catalytic converters. This, in turn, would drive the development of the ECC market in near future.
The lack of technical expertise in some regions is challenging in the growth of the global emission control catalyst (ECC) market.
Emission Control Catalyst Market, By Type
Based on type, the market is categorized into palladium, platinum, rhodium, and others. The platinum sector is expected to be the fastest growing segment during the forecast period. The segment growth can be on account of high melting point characteristics, thus providing thermal durability.
In addition, it also works as a catalyst by gathering oxygen atoms (O) and permitting them bind with the toxic carbon monoxide (CO), to produce the less harmful carbon dioxide (CO2). These factors will drive the segment growth during the forecast period.
Emission Control Catalyst Market, By Catalytic Converter Type
Based on catalytic converter type, the market is segmented into diesel oxidation catalyst, selective catalytic reduction, Lean NOx Traps (LNT), three-way catalytic converter, four-way catalytic converter.
The three-way catalytic converter segment is expected to be the fastest growing segment during the forecast period. The segment growth can be because three-way catalytic converters have additional advantage of controlling the nitrogen dioxide (NO2).
Emission Control Catalyst Market, By Application:
Based on application, the market is segmented into mobile sources and stationary sources. The mobile sources segment is further sub-segmented into on-road mobile sources, off-road mobile sources. The stationary sources segment is expected to be the fastest growing segment during the forecast period. The segment growth is on account of high demand for stationary sources from automobile domain, which will drive the demand during the forecast period.
Enquiry Before Buying This Report @ https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-60578
Emission Control Catalyst Market, By End Use Industry:
Based on end use industry, the market is segmented into automotive, power and energy, others.
The automotive segment is expected to be the leading segment during the forecast period. The growth of the segment is on account of high demand from automotive manufacturers. The automobile catalyst is used in vehicle's exhaust system to control the emission of dangerous gases into the atmosphere, such as hydrocarbons, carbon oxides, nitrogen oxides, and other particulate matter. It aids in the conversion of poisonous gases into less toxic ones.
Emission Control Catalyst Market, By Region
There are five major regions for market mainly comprises Europe, Asia Pacific, North America, Middle East and Africa, and South America.
Europe is expected to be the fastest growing segment in the projected time frame. Due to government policies for strict environmental instructions have stimulated the automakers to incline towards devices dropping the pollutants emissions and catalyst being the best substitute for this, has propelled the demand.
The Asia Pacific is projected to account for the largest share of the regional market due to the presence of industries in power, oil and gas, and chemical domain. North America also has industries with significant emission rate of pollutants, which contradict the environmental rules set by the organizations, which further compels industries to accept the usage of the ECC in their exhaust delivery, which absorbs the pollutants.
Some of the Recent Developments in the Report
- July 2021 – Clariant Catalysts (Germany) is increasing and expanding its emission control catalyst capacity due to rising global demand, particularly in China. The company began operations at a new, improved production site in Heufeld, Germany, which includes cutting-edge manufacturing equipment dedicated solely to emission control catalysts.
- May 2019 - Corning (U.S.) introduced a new production plant in China. The new plant Hefei services is equipped to produce particulate and substrate filters for automotive emission control, with start production, focused on meeting client orders for company’s gasoline particulate filter (GPF) product line and Corning DuraTrap GC filters. This benefited the company to meet the increasing demand for emission control catalyst.
- December 2018 - BASF (Germany) catalyst extended its manufacturing capacity for mobile emission at its Pudong site in Shanghai, China. The company extended its manufacturing services by above 30,000 square-meters. This assisted the company to meet the constant demand for the emission control catalyst.
COVID-19 Impact on Global Emission Control Catalyst Market
QMI market research team is observing the impact of COVID-19 on the emission control catalyst market. The post and pre-COVID-19 impact is stated in the report. The automotive sector has been hit by the COVID-19 outbreak. The disruption of supply chain, factory closures, and lower demand has impacted the global emission control catalyst market.
The automotive industries are mainly facing many issues such as interruptions in getting emission control catalysts from the producers on account of restriction on export and import of commodities.
Manufacture of automobiles stopped, contributing to a key loss in the total automotive sectors. With the reduction in automotive manufacturing, the demand for emission control catalysts has considerably fallen, which is having a significant impact on the emission control catalyst market (ECC).
Some Major Findings of Global Emission Control Catalyst Market Include:
- Major global market trend, and country-specific market analysis for up to 25 countries
- In-depth market analysis by the above-mentioned segments, along with an analysis of trend-based insights and factors
- Profiles of key market players operating in the global emission control catalyst market, which include Corning Incorporated (U.S.), Umicore SA (Belgium), Clariant (Switzerland), CORMETECH, INC. (U.S.), aerinox-inc (U.S.), BASF SE (Germany), DCL International Inc (U.S.), Johnson Matthey (U.K.), Solvay (Belgium), and Cataler Corporation (Japan).
- Impact of COVID-19 pandemic on the market
Browse key industry insights from the report, “Global Emission Control Catalyst Market, by Type (Palladium, Platinum, Rhodium, Others), Catalytic Converter Type, (Diesel Oxidation Catalyst, Selective Catalytic Reduction, Lean NOx Traps (LNT), Three-Way Catalytic Converter, Four-Way Catalytic Converter), Application (Mobile Sources {On-Road Mobile Sources, Off-Road Mobile Sources}, Stationary Sources), End Use Industry (Automotive, Power and Energy, Others), Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)”, in-depth analysis along with the table of contents (ToC).
Buy Now Full Report @ https://www.quincemarketinsights.com/insight/buy-now/emission-control-catalyst-market/single_user_license
Contact Us:
Ajay D
Quince Market Insights
Pune India
Phone: US +1 208 405 2835
UK +44 1444 39 0986
APAC +91 706 672 4848
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com
Browse Related Reports:
- Emission Control Technology Market, By Technology (Diesel Particulate Filter (DPF), Diesel Oxidation Catalyst (DOC), Gasoline Particulate Filter (GPF), Selective Catalytic Reduction (SCR) And Exhaust Gas Recirculation (EGR)), Fuel Type (Diesel, and Gasoline), End-User Vertical (Automotive, Aerospace, Marine, Off-Highway, Rolling Stock, And Industrial), By Region – Market Size & Forecasting to 2028
https://www.quincemarketinsights.com/industry-analysis/emission-control-technology-market
- Global Continuous Emission Monitoring Systems Market, By Type (Extraction Monitoring System, Field Monitoring System, and Telemetry System), By Application (Petroleum Refining, Waste Incineration, Chemical, Building Materials, Pharmaceuticals, and Others), By Region– Market Size & Forecasting (2016-2025).
https://www.quincemarketinsights.com/industry-analysis/continuous-emission-monitoring-systems-market
- Global Low Emission Vehicle Market, By Degree of Hybridization (Full Hybrid Electric Vehicle, Mild Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Pure Electric Vehicle), Battery Type (Lead Acid, Nickel Cadmium, Lithium Ion), By Region – Market Size & Forecasting (2016-2028).
https://www.quincemarketinsights.com/industry-analysis/global-low-emission-vehicle-market
