The emission control catalyst market is anticipated to grow at a CAGR of 8.89% from US$35.801 billion in 2022 to US$64.982 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, May 13, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the emission control catalyst market is projected to grow at a CAGR of 8.89% between 2022 and 2029 to reach US$64.982 billion by 2029.

The key growth drivers to propel the emission control catalyst market during the forecasted period are:

• The growth in regulations and rules by several governments across the globe regarding the control of harmful emissions in the environment to reduce the carbon footprint is driving the demand for emission control catalysts in the market. The emission control catalysts help to control the pollution created during the use of heavy machinery using fossil fuel energy resources that further reduce the impact of global warming and climate change. These factors are responsible for driving growth in the emission control catalyst market.

• Another factor that boosts the sales of emission control catalysts in the market is the growing adoption of these emission control catalysts by major automakers and industrial machinery manufacturers to install into those machinery or automobiles. This integration of emission control catalysts into automobiles and industrial machinery will reduce the impact on the environment and thus be adopted by their manufacturers. Hence, the growth in these automobile and industrial machinery is expected to positively impact the emission control catalysts market.

Access sample report or view details: https://www.knowledge-sourcing.com/report/emission-control-catalyst-market

The emission control catalyst market, by metal, is divided into three types- palladium, platinum, and rhodium. The harmful substance that comes from operating automobiles goes through emission control catalysts to convert into less harmful emissions using these metals like platinum which reduces the carbon footprint in the environment. Therefore, the presence of different metals in the emission control catalyst system is expected to fuel the emission control catalyst market over the forecast period.

The emission control catalyst market, by type, is divided into five types- diesel oxidation catalyst, selective catalytic reduction, lean nox trap, three-way catalytic converter, and four-way catalytic converter. There are different types of emission control catalysts each catering to different needs of end-users that use them. For instance, the three-way catalytic converters that are used in automobiles reduce the harmful emission in the environment by filtering the three harmful components that are hydrocarbons, nitrogen oxide, and carbon monoxide. Thus it gets the name three-way catalytic converter and the different types available for emission control catalysts are expected to propel growth in the market.

The emission control catalyst market, by application is divided into two types- mobile and stationary sources. There are different methods in emission control catalysts such as in mobile emission control catalysts which are catalytic converters used in vehicles or automobiles to reduce harmful emissions in the environment. The growth in demand for vehicles globally will drive the demand for mobile emission control catalysts.

The growth in the emission control catalyst market is projected to be prominent in the Asia Pacific region during the forecasted period as this region has a growing need for emission control catalyst systems with a high number of toxins released in the environment due to growth in industrialization and urbanization in the region across different countries like China and India.

This growth in industrialization coupled with the rising automotive industry in the Asia Pacific region with China being the world’s largest automotive manufacturer has increased the harmful emissions in the environment. Hence, the growth in harmful emissions in the Asia Pacific region due to these factors is projected to fuel the emission control catalyst market growth in the region over the forecast period.

The research includes several key players from the emission control catalyst market, such as BASF SE, Johnson Matthey, Umicore, Corning, Solvay, Tenneco Inc., Cataler Corporation, Heraeus, Topsoe, and Aristo Intelligent Catalyst Technology.

The market analytics report segments the emission control catalyst market using the following criteria:

• By Metal

o Palladium
o Platinum
o Rhodium
o Others

• By Type

o Diesel Oxidation Catalyst
o Selective Catalytic Reduction
o Lean Nox Trap
o Three-Way Catalytic Converter
o Four-Way Catalytic Converter
o Others

• By Application

o Mobile
o Stationary Sources
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Mentioned:

• BASF SE
• Johnson Matthey
• Umicore
• Corning
• Solvay
• Tenneco Inc.
• Cataler Corporation
• Heraeus
• Topsoe
• Aristo Intelligent Catalyst Technology

Explore More Reports:

• Acoustic Emissison Testing Market: https://www.knowledge-sourcing.com/report/acoustic-emission-testing-market

• Global Vehicle Emission Sensor Market: https://www.knowledge-sourcing.com/report/global-vehicle-emission-sensor-market

• Air Quality Control Systems Market: https://www.knowledge-sourcing.com/report/air-quality-control-systems-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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