According to a new market report published by Lucintel, the future of the global emission control catalyst market looks promising with opportunities in the segments of transportation, industrial, and others. The global emission control catalyst market is expected to reach an estimated $14.82 billion by 2021 and it is forecast to grow at a CAGR of 7.7% from 2016 to 2021. The major growth drivers of growth for this market are stringent environmental policies adopted by various governments and environmental protection agencies combined with an increase in vehicle production and growth in industrial sectors.
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In this market, transportation and industrial are the major end use segments of emission control catalyst market. On the basis of its comprehensive research, Lucintel forecasts that the industrial segment is expected to show above average growth during the forecast period.
Within the global emission control catalyst market, the transportation application segment is expected to remain the largest market. Economic development in Asia Pacific, particularly China and India, has presented opportunities for emission control catalysts in the transportation industry, which would spur growth for this segment over the forecast period. The light duty vehicle segment is expected to remain the largest market in the transportation industry due to increasing light duty vehicle production especially in the APAC region.
The palladium based emission control catalyst segment is expected to remain the largest market by metal type because of its excellent chemical properties, low cost, and availability. Therefore, its demand is increasing significantly across a number of emission control catalyst applications.
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Europe is expected to remain the largest regiondue to stringent emission regulations, such as Euro 6, and increasing vehicle production. Asia pacific is expected to be the fastest growing region over the forecast period due to higher economic growth and increasing vehicle production in China and India.
For business expansion, Lucintel’s report suggests new product development to enhance particulate filter performance and reduce the need for costly platinum group metals to lower the cost of catalyst manufacturing. The report further suggests the development of partnerships to create win-win situations and the development of low-cost solutions for end users.
Emerging trends, which have a direct impact on the dynamics of the market, include increasing demand for new cold start concept catalysts and increasing uses of the four way catalyst. Johnson Matthey, BASF, and Umicore are among the major suppliers of emission control catalysts.
The study includes a forecast for growth opportunities in the global emission control catalyst market by metal type, end use industry, vehicle type, and region, as follows:
By metal type [$ Billion Shipment from 2010 to 2021]:
By end use industry [$ Billion Shipment from 2010 to 2021]:
By vehicle type [$ Billion Shipment from 2010 to 2021]:
- Light Duty Vehicle
- Heavy Duty Vehicle Other
By fuel type [$ Billion Shipment for 2015]:
- Gasoline Vehicles
- Diesel Vehicles
By region [$ Billion Shipment from 2010 to 2021]:
- North America
- Asia Pacific
- The Rest of the World
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This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the emission control catalyst market by end use industry (transportation, industrial, and others), metal type (platinum, palladium, rhodium, and others), vehicle type (light duty vehicle and heavy duty vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which product segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11. What M&A activity has transpired in the last 5 years?
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