NEW YORK, Sept. 28, 2023 /PRNewswire/ -- The Automotive Catalyst Market is estimated to grow by USD 2.47 billion, accelerating at a CAGR of over 3.3%, during the forecast period. The automotive catalyst market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive catalyst market are BASF SE, CDTi Advanced Materials Inc., Clariant International Ltd., Corning Inc., Cummins Inc., Heraeus Holding GmbH, INTERKAT Catalyst GmbH, Johnson Matthey Plc, Norman G. Clark A Asia Pty Ltd., Northam Platinum Ltd., PJSC MMC Norilsk Nickel, Shell plc, Sinocat Environmental Technology Co. Ltd., Solvay SA, Stella Chemifa Corp., Tenneco Inc., Topsoes AS, Toyota Motor Corp., Umicore SA, and Vikas Group. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
Automotive Catalyst Market 2023 – 2027: Company Offering:
Umicore SA: The company offers automotive catalyst products such as Umicore Grubbs Catalysts and three-way catalysts, which include applications such as light duty gasoline, hybrid electric, alternative fuels and light duty diesel, motorcycles and small engines.
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Automotive Catalyst Market 2023 – 2027: Market Dynamics:
- Impactful driver- Increasing vehicle production: The primary catalyst for market growth is the rising production of vehicles. The worldwide automotive segment is expected to see steady expansion during the forecast period. An increasing need exists for autocatalysts that transform harmful pollutants like nitrogen oxides into environmentally benign gases before they are discharged. Platinum, palladium, and rhodium stand as the most crucial autocatalytic components.
- Key Trend - Recycling automotive catalysts is the primary trend in the market.
- Major Challenges - Increasing demand for electric vehicles is a challenge that affects the growth of the market.
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Automotive Catalyst Market 2023 – 2027: Segmentation:
By Application
- Light-duty vehicle
- heavy-duty vehicle
By Product
- Palladium
- Platinum
- Rhodium
- Ruthenium
- Others
Geography
- APAC
- Europe
- North America
- South America
- Middle East and Africa
Technavio anticipates that there will be substantial growth in the light-duty vehicle segment. This category encompasses a range of vehicles, including passenger cars, light commercial vehicles, two-wheelers, and three-wheelers. The Clean Air Act is set to introduce more stringent and universally applicable regulations concerning emissions from light commercial vehicles.
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TOC:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by Product
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Vendor Landscape
- Vendor Analysis
- Appendix
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