What is the global market size of Automotive Catalyst Market?

Automotive Catalyst Market size was valued at USD 12.45 billion in 2021 and is poised to grow from USD 12.8 billion in 2022 to USD 18.98 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).

Automotive Catalyst Market Size, Share, Growth Analysis, By Product Type (Two-way catalytic converter, Three-way catalytic converters, Diesel oxidation catalyst), By Engine Type( Diesel, Gasoline, Others), By Application(Heavy-Duty Vehicle, Light-Duty Vehicle), By Raw Material(Rhodium, Platinum, Palladium), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Automotive Catalyst Market?

Global Automotive Catalyst Market is highly competitive with the presence of several international and local players across the globe. Product diversification, advancement, merger & acquisition and quality enhancing are the leading key strategies opting through prominent market players 'BASF SE', 'Johnson Matthey PLC', 'Umicore SA', 'Clariant AG', 'Solvay SA', 'Heraeus Holding GmbH', 'Corning Incorporated', 'Tenneco Inc.', 'Cataler Corporation', 'Magneti Marelli S.p.A.', 'CDTi Advanced Materials, Inc.', 'Clean Diesel Technologies, Inc.', 'Cummins Inc.', 'Faurecia S.A.', 'Mitsubishi Heavy Industries Ltd.', 'N.E. Chemcat Corporation', 'Tenneco Automotive Operating Company Inc.', 'Unicore Catalyst Pvt. Ltd.', 'Weifu High-Technology Group Co. Ltd.', 'W.R. Grace & Co.'

Q: What is the key driver of Global Automotive Catalyst Market?

Rise in per capita GDP and disposable income of the global population has led to an increase in the number of vehicles in use. Rapid increase in the rate of motorization is boosting the demand for automotive components. Auto catalysts have become a vital part of vehicles to minimize emissions.

Q: Which region accounted for the largest share in Global Automotive Catalyst Market?

Asia Pacific dominated the global automotive catalyst market. Increasing regulations pertaining emission control limits implemented by China's State Environmental Protection Administration (SEPA) to curb vehicular pollution is anticipated to boost the demand for automotive catalyst in Asia Pacific. Moreover, these regulations will limit the use of increased PGMs in the coating of an automotive catalyst substrate. This, in turn, is likely to make auto catalyst expensive in the coming years and, therefore, increase market revenue share.

Report ID: SQMIG25A2141 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 116 | Figures: 77

Automotive Catalyst Market News

In July 2021, BASF SE announced the acquisition of Zodiac Enterprises LLC in Caldwell, Texas of United States. With this acquisition, the company expanded its chemical catalyst recycling capacity and capability. Moreover, the site recycles precious metals from industrial scrap, primarily chemical catalysts. Furthermore, this investment allows the company to meet the increased customer demand for recycling spent chemical and automotive catalysts.
In May 2021, BASF SE announced the plan to expand the project at its Platinum Group Metals (PGM) refining facility in Seneca, South Carolina, United States to boost the site’s refining capacity for recycled precious metals from spent catalysts, which will further strengthen the company presence in the spent automotive catalyst recycling market, globally.

Automotive Catalyst Market Report Snapshots

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Automotive Catalyst Market size was valued at USD 12.45 billion in 2019 and is poised to grow from USD 12.8 billion in 2023 to USD 18.98 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

Automotive Catalyst Market is highly competitive with the presence of several international and local players across the globe. Product diversification, advancement, merger & acquisition and quality enhancing are the leading key strategies opting through prominent market players 'BASF SE', 'Johnson Matthey PLC', 'Umicore SA', 'Clariant AG', 'Solvay SA', 'Heraeus Holding GmbH', 'Corning Incorporated', 'Tenneco Inc.', 'Cataler Corporation', 'Magneti Marelli S.p.A.', 'CDTi Advanced Materials, Inc.', 'Clean Diesel Technologies, Inc.', 'Cummins Inc.', 'Faurecia S.A.', 'Mitsubishi Heavy Industries Ltd.', 'N.E. Chemcat Corporation', 'Tenneco Automotive Operating Company Inc.', 'Unicore Catalyst Pvt. Ltd.', 'Weifu High-Technology Group Co. Ltd.', 'W.R. Grace & Co.'

Rise in per capita GDP and disposable income of the population has led to an increase in the number of vehicles in use. Rapid increase in the rate of motorization is boosting the demand for automotive components. Auto catalysts have become a vital part of vehicles to minimize emissions.

The key players of the automotive catalyst market are investing in the improvement and development of catalysts. A three-way catalyst can reduce the emitted pollutant from vehicle at 100% conversion efficiency at its operational temperature, typically above 400C, which is much higher. Johnson Matthey Inc., a leading automotive catalyst producer is working on the development of three-way catalyst for future vehicle, which improves the fuel efficiency and reduces CO2 emission substantially at lower operating temperature. This innovation in automotive catalysts is anticipated to provide future growth opportunity to the automotive catalyst market.

Asia Pacific dominated the automotive catalyst market. Increasing regulations pertaining emission control limits implemented by China's State Environmental Protection Administration (SEPA) to curb vehicular pollution is anticipated to boost the demand for automotive catalyst in Asia Pacific. Moreover, these regulations will limit the use of increased PGMs in the coating of an automotive catalyst substrate. This, in turn, is likely to make auto catalyst expensive in the coming years and, therefore, increase market revenue share.

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