United States, Rockville MD, June 15, 2022 (GLOBE NEWSWIRE) -- The global Diesel Oxidation Catalysts market is valued at US$ 1.4 Bn in 2021 and is expected to reach US$ 2.8 Bn by 2032, expanding at a CAGR of 2.9% between 2022 and 2032.
According to Fact.MR, a market research and competitive intelligence provider, global Diesel Oxidation Catalysts consumption has increased at a CAGR of roughly 3.1 % over the last half-decade.
Diesel Oxidation Catalysts (HDD) help diesel engines emit less pollution. HDD's catalytic processes result in a cleaner, safer environment, as well as a reduction in greenhouse gas emissions and ozone depletion. Catalysts for heavy-duty diesel (HDD) are an important part of the selective catalytic reduction (SCR) system. HDD catalysts' primary role is to convert unburned hydrocarbons, carbon monoxide, and nitrogen oxides into less hazardous gases.
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Heavy-duty trucks, buses, locomotives, off-road vehicles, and maritime vessels are all equipped with these devices. HDD catalysts are systems that are used in heavy-duty diesel engines to eliminate harmful pollutants.
According to Fact.MR, the worldwide Diesel Oxidation Catalysts market would develop at a close to 3% CAGR through 2032.
What are the Key Challenges Faced by Diesel Oxidation Catalysts Producers?
Heavy-duty diesel catalyst manufacturers usually face issues as a result of the high cost of manufacturing. Furthermore, a few drawbacks of Heavy-duty diesel catalysts make end-user adoption difficult, such as the fact that their production cycle generates hazardous substances and has an environmental impact.
The polymers used in stain-resistant coatings are usually non-biodegradable, causing environmental problems. The overall advantages of Heavy-duty diesel catalysts in a range of applications, however, exceed the small limitations.
Also, after the string China V activity reduced the heavy-duty diesel catalyst production for some of the players, including Umicore.
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Key Segments Covered in the Diesel Oxidation Catalysts Industry Survey
- Diesel Oxidation Catalysts Market by Type :
- Hydrocarbons (HC)
- Carbon Monoxide (CO)
- Oxides of Nitrogen (NOx)
- Particulate Matter (PM)
- Hydrocarbons (HC)
- Diesel Oxidation Catalysts Market by Application :
- OEMs
- Aftermarket
- Others
- OEMs
- Diesel Oxidation Catalysts Market by Region :
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America
Competitive Landscape
In order to withhold competition, the key market players in Diesel Oxidation Catalystss market are emphasising on enhancing the quality of their products.
BASF SE, Umicore S.A., Corning Incorporated, and Bosal International N.V. are among the companies involved. Manufacturers such as Johnson Matthey PLC, Cataler Corp, and DLC International are also involved in the production of automobile catalysts.
- In April 2022, The Southwest Research Institute showcased its CAT-DEF technology at the WCX World Congress Experience in Detroit. The SAF-funded research solution dramatically reduced NOx emissions in heavy-duty diesel engines to meet the mandated California Air Resources Board (CARB) standards for future standards.
- In December 2021, BASF announced its intention to establish an entity under the name BASF Automotive Catalysts and Recycling, which will be engaged in mobile emission catalysts, automotive catalysts recycling, and associated precious metal services.
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Key players in the Diesel Oxidation Catalysts Market
- BASF SE
- Umicore S.A
- Corning Incorporated
- Bosal International N.V. Johnson Matthey PLC
- Cataler Corp
- DLC International
Key Takeaways from Diesel Oxidation Catalysts Market Study
- Diesel Oxidation Catalysts market is expected to grow at an absolute dollar opportunity of over US$ 1 Bn during 2022 – 2032.
- U.S. accounted for global share of over 32% in 2021, and it is also expected to retain its global dominance throughout the analysis period.
- The top two players in global Diesel Oxidation Catalysts market accounted for over 50% share in 2021.
Winning Strategy
The Global Diesel Oxidation Catalysts Market is driven by a number of reasons, including rising vehicle demand and, as a result, rising emissions from these cars. The market for HDD catalysts is also being fuelled by regulatory agencies' strict emission standards in order to manage automobile emissions. Furthermore, the increased awareness of environmentally friendly technology is aiding the market's expansion. However, raw material price volatility may limit this market's growth throughout the projection period.
Various growth factors, such as an increase in the number of vehicles on the road, stricter pollution regulations, and rising demand for fuel-efficient automobiles. Government restrictions aimed at reducing automobile emissions are also fueling the market's expansion.
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