Major players in the emission control catalysts market are BASF SE, Johnson Matthey, Clariant, Honeywell International Inc. , Tenneco Inc. , Cataler Corporation, Heraeus Holding, Bosal, Cormetech, DCL International Inc.
New York, June 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Emission Control Catalysts Global Market Report 2022" - https://www.reportlinker.com/p06284326/?utm_source=GNW
, Albemarle Corporation, Interkat Catalyst GmbH, Shell Global, Sinocat Environmental Technology Co. Ltd., Zeolyst International Inc., and Umicore.
The global emission control catalysts market is expected to grow from $19.49 billion in 2021 to $21.86 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The emission control catalyst market is expected to reach $30.88 billion in 2026 at a CAGR of 9%.
The emission control catalysts market consists of sales of emission control catalysts by entities (organizations, sole traders, and partnerships) that are used to control the harmful pollutants generated from combustion engines.Emission control catalysts break down the solid particulates from exhaust systems of industrial machinery and vehicles to reduce the content of pollutants generated into the environment.
Emission control catalysts are simple and offer low maintenance operation, durability, relatively low cost, and negligible adverse effect on the engines.
The main types of products in emission control catalysts are palladium-based ECC, platinum-based ECC, rhodium-based ECC, and others.Palladium-based ECC undergoes catalyst reactions and produces carbon-carbon bonds and these are used in electronic connectors.
The different fuel types include diesel vehicles and gasoline vehicles. The various applications include mobile emission control catalysts and stationary emission control catalysts and are used in several areas such as automotive and transportation, chemical industry, oil and gas industry, mining industry, power industry, and other end users.
Asia pacific was the largest region in the emission control catalysts market in 2021. The regions covered in the emission control catalysts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Stringent regulations for controlling air pollution are significantly contributing to the growth of the emission control catalysts market.Air pollution is mainly caused due to rapid industrialization and urbanization which are responsible for higher emissions in the environment.
The governments are more concerned about the adverse effects of air pollution on public health and the environment, so they have implemented regulations to control air pollution and this increased the demand for use of emission control catalysts in exhaust systems of industrial machinery and vehicles.For instance, in September 2021, World Health Organization established Global Air Quality Guidelines with the goal of saving lives and improving air quality due to air pollution.
These guidelines highlighted good practices to manage certain types of particulate matter such as elemental carbon, particles originating from sand, ultrafine particles, and dust storms to set air quality guideline levels. Therefore, the stringent regulations for controlling air pollution are expected to propel the growth of the emission control catalysts market going forward.
Technological advancements are the key trends gaining popularity in the emission control catalyst market.Major companies operating in the emission control catalysts sector are focused on developing advanced technological solutions for emission control catalysts to strengthen their position in the market.
For instance, in March 2020, BASF SE, a Germany-based chemical manufacturing company launched a novel Tri-Metal Catalyst technology that allows high-priced palladium to be replaced with lower-cost platinum, which is utilized in light-duty gasoline automobiles, saving automakers costs. It will rebalance the global platinum group metals demand.
In January 2020, Domo chemicals, a Belgium-based engineering materials company acquired the performance polyamides business of Solvay SA in Europe for an undisclosed amount.This acquisition will help Domo Chemicals in strengthening its nylon-based engineering materials business in order to create a sustainable growth plan by integrating distinctive technology, design, and development capabilities in order to become a global provider in key markets.
Solvay SA is a Belgium-based chemicals company that manufactures emission control catalysts.
The countries covered in the emission control catalysts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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