Increasing number of vehicle fleet globally is expected to be a key factor driving the Emission Control Catalyst Market over the next seven years. Stringent environmental regulations regarding vehicular emissions and maintaining fuel efficiency particularly in the U.S. and Europe is expected to augment the market growth over the forecast period. Strict emission standards such as Euro standards in Europe, Bharat Stage in India, National Ambient Air Quality Standards in U.S. is anticipated to bolster emission control catalyst market growth. Increasing demand from industrial processing units such as fossil fuel-fired power plants, marine & locomotive, diesel-and-gas fired generators, turbines and boilers is expected to fuel emission control catalysts demand. Stringent emission standards for off-road diesel engines including road maintenance equipments, railway locomotives and railcars, forestry tractors and non-road trucks is also expected to foster market growth over next seven years.
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Additionally, stringent emission standards for industrial drilling rigs, construction wheel loaders, bulldozers, aerial lifts, mobile cranes, ships and vessels are anticipated to positively fuel emission control catalyst market growth. Increasing battery run cars demand globally is anticipated to negatively affect emission control catalyst market growth over the forecast period. Emission control catalyst being temperature dependent is further expected to hinder market growth.
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Emission control catalysts have been categorized on the basis of metal bases including, vanadium, tungsten, palladium, rhodium and platinum. Various grades of catalyst are used in different industries. For instance, catalysts used in petroleum and food industry are different. This will further increase different product demand simultaneously, hence supporting market growth. Platinum based emission control catalyst is expected to witness significant growth over the forecast period owing to increasing application scope particularly in refining and petrochemical applications . On the basis of applications, global emission control catalysts market has been segmented into automobiles, locomotives, industrial and marine. Automobile segment is expected to witness highest market growth over the forecast period owing to increasing automobile demand globally.
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North America was the largest emission control catalyst consumer market in 2014 and is expected to witness steady growth over the forecast period owing to stringent environmental norms and regulations in the region. U.S. is anticipated to be frontrunner in the region followed by Canada on account of stringent automobile and industrial emission norms in the country. Asia Pacific is presumed to witness significant market growth owing to increasing automobile demand coupled with rising consumer awareness regarding vehicular emission in the region.
Emission control catalyst market is highly consolidated with presence of major players such as BASF SE, Johnson Matthey Plc., and Solvay. Other market players include Clariant AG, Tenneco Inc., Bosal Nederland B.V., Bastuck GmbH and KATCON Global.
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