iCrowdNewswire Jan 22, 2021 5:00 AM ET
The Global Emission Control Catalyst (ECC) Market is forecast to grow at a CAGR of 6.8% and reach USD 37.28 billion by 2027 from USD 21.6 billion in 2019. The increasing awareness to reduce carbon footprint in the automotive segment is predicted to have a decisive impact irrespective of the stringent air regulation emissions.
In order to decrease the toxic pollutants in the atmosphere, an emission control catalyst is used to break down the compact particulates in the transport and commission vehicles’ engine exhaust systems. The regional emission control policies like National Ambient Air Quality Standards (USA), Bharat stage emission (India), and Euro standards (Europe) control and reorganize the ECC market to control the overall air pollution.
Developed usage of three-way oxidation-reduction converters is most likely to expand the emission control catalyst market. Stringent environmental laws and regulations to reduce carbon eruptions in countries, including India, the U.S., Germany, and Japan, are assumed to have a positive market impact during the projected period.
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Some leading manufacturers like BMW, Ford, and Volkswagen have started installing catalytic converters in the engine exhaust systems, which is likely to increase the ECC market over the years. The fluctuating platinum group metal values are estimated to increase pollution control catalysts in the coming years. Rising costs of catalyst producers to manufacture platinum-rhodium-palladium is assumed to give rise to new market opportunities in the future.
The Asia Pacific region held the largest emission control catalyst market share worldwide. It will continue to dominate due to substantial automobile producing facilities in countries like China, South Korea, India and Japan. With the rapidly increasing population, there has been an increase in the automobile and industrial sector investments in countries like China and Mexico.
Further key findings:
• Rhodium reducing emission catalyst is expected to extend from 2020 to 2027.
• Due to rapid industrialization and ecological awareness in the Asia Pacific and Latin American region is expected to drive the pollution control catalyst.
• Solvay SA, Corning Incorporated, DCL International Inc., Clariant International Ltd, and Johnson Matthey are some of the significant key players in the Emission Control Catalyst Market.
For the purpose of this report, Reports and Data has segmented the Emission Control Catalyst Market on the basis of product, application, and region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
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Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
• South Korea
• Rest of LATAM
Middle East & Africa
• Saudi Arabia
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The report emphasizes the following key questions
Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Emission Control Catalyst Market Segmentation & Impact Analysis
4.1. Emission Control Catalyst Market Material Segmentation Analysis
4.2. Industrial Outlook
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