Emission Control Catalysts Market worth $59.8 billion by 2026
The report “Emission Control Catalysts Market by Type (Palladium, Platinum, Rhodium), Application (Mobile sources (off road, and on road), and Stationary Sources), and Region (North America, Europe, APAC, South America & RoW) – Global Forecast to 2026“, size is estimated at USD 42.9 billion in 2021 and is projected to reach USD 59.8 billion by 2026, at a CAGR of 6.9% during the forecast period.
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The major factors driving the ECC market include growth of the global automobile industry and increasing harmful emissions from various industries. Automotive exhaust systems and industrial machinery release CO, NOx, HC, CO2, and particulate matter into the environment, which are major contributors to greenhouse gases (GHGs). ECCs limits the emissions from automotive, industrial units, marine and other mobile and stationary sources of emission. PGM metals such as platinum, palladium, and rhodium oxidize pollutants and convert them into less harmful emissions such as nitrogen and hydrogen.
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Increasing gasoline engines to lead the growing demand for palladium metal in ECC market.
On the basis of metal type, the ECC market has been segmented into four types, namely, palladium, platinum, rhodium, and others. Palladium metal has the ability to maintain acceptable performance at sustained temperature for the lifetime. in addition, the metal has high toleration of high temperatures better than other metals.
APAC is the leading ECC market.
APAC is the largest market for ECCs. Industrialization, growing population, and urbanization of APAC are boosting the ECC market. The major end users of ECC in the region are light-duty vehicle (LDV), power plants, chemical plants, and motorcycles.
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The ECC market comprises major players such as BASF catalyst (Germany), Johnson Matthey (UK), Umicore (Belgium), Tenneco (US), Cataler (Japan), Heraeus (Germany), Bosal (Netherlands), Clean Diesel Technologies (US), Cormetech (US), DCL International Inc. (Canada), Hitachi Zosen Corporation (Japan), IBDIEN (Austria), Interkat (Germany), Kunming Sino-Platinum Metals Catalyst (China), Nett Technologies (Japan), NGK Insulators (Japan), Shell Global (Netherlands), Sinocat (China), and Zelolyst International (US).
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