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 expansion of the global automotive sector and the rise in harmful emissions from numerous industries are the main forces behind the ECC market. CO, NOx, HC, NO2, CO2, and particulate matter are key contributors to greenhouse gases and are released into the atmosphere by industrial machinery and automobile exhaust systems (GHGs). Automotive, industrial, maritime, and other mobile and stationary sources of pollutants are restricted by ECCs. PGM metals like platinum, palladium, and rhodium oxidise pollutants to produce emissions like nitrogen and hydrogen that are less toxic.
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Increasing gasoline engines to lead the growing demand for palladium metal in ECC market.
The ECC market has been divided into four groups based on the type of metal used: palladium, platinum, rhodium, and others. The lifetime performance of palladium metal may be sustained at a reasonable temperature. The metal also tolerates high temperatures far better than other metals do.
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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