The global emission control catalysts market is forecast to total US$8 billion by 2018 with the increasingly stringent regulations curbing greenhouse gas emission forecast to drive demand over the next few years. The increased concerns over environmental pollution and the need to cap vehicular and industrial emissions are forecast to drive further investment in the emission control catalyst market.
The largest product segment of the catalysts market is reported to be emission control catalysts which are applied within the automobile and industrial machinery sectors. The number of vehicles in the global car parc is continuing to increase and combined with the rapid industrialisation of developing countries is putting increasing pressure on controlling a worsening state of air pollution. Emission control catalysts are becoming an important part of a wider range of technologies to help control increasing emissions worldwide.
Research in the emissions control catalyst market reported that only 7% of the total revenues are sourced from stationary sources with the majority of catalysts being fitted for mobile sources. As a result, there is a high demand for platinum group metals as these resources are mainly used in catalyst converters for mobile sources. PGMs help convert vapour emissions into carbon dioxide, nitrogen and water. During the period 2010 to 2015, the global emission control catalyst market for mobile sources was estimated to increase by 10.5% CAGR with the largest segment being light-duty vehicles. Tighter emission controls within the United States, European Union and Japan and the further tightening of emission standards for heavy-duty diesel vehicles in China, Russia, India, South Korea and Brazil helped drive strong growth in the demand for emission control catalysts. New heavy-duty vehicle emission controls were introduced in 2009.
A more centralised control on air quality standards and the greater involvement of the international community to develop climate control goals is helping drive demand in developing the markets such as the United States and Europe within the emission control catalyst industry. Stricter particulate emission control in the developing markets in Latin America and Asia is also driving increased demand for automotive catalysts. In addition, the increased demand for electricity and the subsequent development of new power plants is also forecast to drive an increase in the demand for industrial emission control catalysts.
The majority of new vehicles manufactured include catalytic converters to reduce vehicle pollution and to convert emissions into less harmful gases. The requirement for new vehicles to be fitted with this technology has ultimately provided a continuous revenue stream for the emissions control catalysts market. It is forecast that the catalysts based on platinum group metals including platinum, palladium and rhodium will see the greatest demand over the next few years.
Automotive diesel engines are increasing their penetration of the vehicle engine market as the price of gasoline increases. This trend in the dieselization of the majority of automotive markets is set to drive increased demand in diesel oxidation catalysts worldwide. The increased demand for heavy-duty trucks in Asia is forecast to present a new opportunity for further growth in the demand for catalysts focused on controlling the emissions of diesel particulates. During the period 2013 to 2018, the Asia emissions control catalyst market is forecast to increase by 7.8% CAGR to represent the fastest expanding market worldwide. The strong growth in the demand for automotive vehicles within Asia will help drive increased demand for these catalysts. The largest region in terms of emission control catalyst revenues is reported to be Europe.
The leading companies operating in the emissions control market include AeriNox Inc., BASF Catalysts LLC, Clean Diesel Technologies Inc., Clariant International Ltd., Cormetech Inc., Corning Incorporated, DCL International Inc., Johnson Matthey Plc, Rhodia, Inc., Tenneco Inc., Walker Exhaust Systems, and Umicore SA, among others.
For more information on the emission control catalyst market, see the latest research: Emission Control Catalyst Market
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