Global Automotive Catalysts Market: Outlook
Automotive catalysts are catalysts that are used to coat exhausts in automobiles to reduce emissions. The technology was developed in the 1970s, as a result of norms and policies restricting the emission of pollutants such as carbon monoxide, nitrogen oxides, and hydrocarbons from engines. These gases lead to environmental pollution and they are extremely hazardous to human health. Carbon monoxide combines with hemoglobin in the bloodstream, which leads to reduction of oxygen-active sites. This, in turn, leads to asphyxia. Nitrogen oxide can lead to formation of smog and acid rain, which is irritating to the eyes, the respiratory system, and the skin. Aromatic hydrocarbons are carcinogenic compounds that can lead to formation of cancerous cells in the human body. Zeolites or metal substrates and cordierite are automotive catalysts, which are usually available in the form of monolith ceramics.
Catalysts produced currently are called three-way catalysts, which are advanced systems of emission treatments for vehicles running on gasoline. These systems are specifically used to reduce emissions of carbon monoxide (CO), nitrogen dioxide (NO2), and hydrocarbons (HC) in the atmosphere. Demand for such systems has been continuously rising owing to rapid increase in the number of on-road vehicles all over the world. Moreover, norms and policies related to the emission of exhaust gases have been made more stringent by regulatory authorities across the world, especially in regions such as Europe and North America. Increasing demand for automobiles and stringent laws and norms with respect to the emission of exhaust gases are anticipated to drive the demand for automotive catalysts market in the near future.
Global Automotive Catalysts Market: Key Segments
Browse more detail information about this report visit at at https://www.transparencymarketresearch.com/automotive-catalysts-market.html
Based on vehicle type, the automotive catalysts market can be segmented into heavy-duty vehicles and light-duty vehicles. Currently, the market is dominated by the light-duty vehicles segment. This can be attributed to the large share held by light-duty passenger cars, in terms of volume, in overall automobile sales and increasing usage of automotive catalysts for passenger cars. The light-duty vehicles segment is anticipated to expand at a rapid pace during the forecast period, owing to increasing sales of passenger cars. On the other hand, the heavy-duty vehicles segment is projected to expand at a steady pace during the forecast period.
Based on product, the automotive catalysts market can be segmented into platinum, palladium, and rhodium. Currently, the palladium segment holds a major share of the automotive catalysts market. It is likely to continue its dominance during the forecast period. Palladium has gained significance as an oxidation catalyst over the last few years. This is largely due to rapidly increasing year-on-year automobile sales. Also, cost efficiency of palladium over its counterparts is a major factor driving the demand for palladium as an automotive catalyst. The palladium segment is anticipated to expand at a rapid growth rate during the forecast period.
Global Automotive Catalysts Market: Regional Outlook
Based on region, the global automotive catalysts market can be segregated into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacfic is likely to dominate the global automotive catalysts market during the forecast period, owing to increasing demand for automobiles in the region. The automotive industry in Asia Pacific is anticipated to expand at a significant growth rate during the forecast period. This, in turn, is driving the automotive catalysts market in the region. This can be majorly attributed to economic growth of some of the developing countries in the region such as China and India, which are major markets for automotive. Moreover, the disposable income of people in these countries has risen over the last few years, which has augmented sales of automobiles in these countries. The automotive catalysts market in Asia Pacific is projected to expand at a steady pace during the forecast period.
Global Automotive Catalysts Market: Key Players
Request For Custom Research At https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=52506&source=atm
Key players operating in the global automotive catalysts market are BASF, Umicore, Cummins, Tenneco, Cataler, Johnson Matthey, Heraeus, and INTERKAT.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis
The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Request for TOC of This Report visit at https://www.transparencymarketresearch.com/sample/sample.php?flag=T&rep_id=52506&source=atm
This post was originally published on Space Market Research