Catalytic Converter Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Catalytic Converter Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, May 16, 2022 /EINPresswire.com/ -- Stringent emission and fuel efficiency regulations propel the growth of the global catalytic converter market. To address the environmental concerns, governments have enacted strict rules, laws, and heavy fines in order to curb growing fuel emissions, which has propelled demand for catalytic converters. For instance, in 2020, the US Environmental Protection Agency and the Department of Transportation announced a new rule on vehicle pollution standards to combat climate change, resulting in increased demand for catalytic converters and thereby contributing to the catalytic converter market growth.

The global catalytic converter market size is expected to grow from $49.21 billion in 2021 to $53.75 billion in 2022 at a compound annual growth rate (CAGR) of 9.21%. The global catalytic converter market size is expected to grow to $76.68 billion in 2026 at a CAGR of 9.29%.

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For the effective treatment of reducing harmful gas emissions and protecting the environment, modern catalytic converters are adopting nanoparticle-based catalytic converters, and this is a key trend shaping the catalytic converter market outlook. Modern catalytic converters use nano-materials of platinum as nano-platinum, palladium as nano-palladium, rhodium as nano-rhodium, and other metals on their inner supports. For instance, Mazda Motor Corporation, a Japan-based automobile company, has introduced a new generation of catalytic converters that employ 70 to 90% fewer precious metals to help purify exhaust pollutants. With the use of nanotechnology, a smaller amount of precious metal is required to provide the same surface area over the catalyst substrate material instead of larger particles.

In September 2021, Elemental Holding Group, a company operating in recycling and mining based in Poland, acquired Maryland Core Inc. and Legend Smelting and Recycling (LSR) for an undisclosed amount. With the acquisition of Legend Smelting and Recycling (LSR), Elemental Holding Group’s investments in the United States have reached around $100 million. The acquisition strengthens Elemental Holding Group's business in the United States and is a significant step toward developing global urban mining leadership in the categories of strategic "green metals" manufacturing and the recycling of platinum group metals (PGMs). Maryland Core Inc. and Legend Smelting and Recycling (LSR) are US-based catalytic converter processors.

Major players covered in the global catalytic converter market are Benteler International AG, Calsonic Kansei Corporation, CDTi Advanced Materials Inc., Continental, Eberspacher Group, Faurecia PVT. LTD., Futaba Industrial Co. Ltd., Johnson Matthey, Magneti Marelli S.P.A., Tenneco Inc., Umicore, BASF Catalysts LLC., BAEF (Germany), Bosal International NV, BSF, Sango Co. Ltd., and Yutaka Gi.

TBRC’s global catalytic converter market research report is segmented by type into three-way catalytic converter (TWCC), four-way catalytic converter (FWCC), diesel oxidation catalyst (DOC), selective catalytic reduction (SCR), lean NOx trap (LNT), by material into palladium, platinum, rhodium, by vehicle type into passenger car, light commercial vehicle, truck, bus, by off-highway vehicle type into agricultural tractors, construction equipment, mining equipment.

Catalytic Converter Global Market Report 2022 – By Type (Three-Way Catalytic Converter (TWCC), Four-Way Catalytic Converter (FWCC), Diesel Oxidation Catalyst (DOC), Selective Catalytic Reduction (SCR), Lean NOx Trap (LNT)), By Material (Palladium, Platinum, Rhodium), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Truck, Bus), By Off-Highway Vehicle Type (Agricultural Tractors, Construction Equipment, Mining Equipment) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a catalytic converter market overview, forecast catalytic converter market size and growth for the whole market, catalytic converter market segments, geographies, catalytic converter market trends, catalytic converter market drivers, restraints, leading competitors’ revenues, profiles, and catalytic converter market shares.

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