The Automotive Catalyst Market is estimated to be USD 12.35 billion in 2018 and is projected to reach USD 15.73 billion by 2023, at a CAGR of 5.0% from 2018 to 2023.
Browse 69 market data Tables and 35 Figures spread through 98 Pages and in-depth TOC on "Automotive Catalyst Market”.
Automotive catalysts are catalysts installed on vehicles to convert harmful exhaust gases, such as NOx, hydrocarbons, CO, and other particulate matter into relatively safe chemicals, such as nitrogen, carbon dioxide, and water. The demand for these catalysts is increasing because the emission standards implemented by governments across the globe are becoming increasingly stringent. This market intelligence report segments the automotive catalyst market on the basis of vehicle type and type, in terms of value and volume.
Stringent emission standards and the stress on fuel efficiency are key factors anticipated to drive the automotive catalyst market. Companies operating in this market are focused on the adoption of various strategies, such as new product launches, expansions, and acquisitions to cater to the rising demand for automotive catalysts in various regions worldwide. Key players in the automotive catalyst market include BASF (Germany), Johnson Matthey (UK), Umicore (Belgium), Cataler (Japan), Cummins (US), Heraeus (Germany), INTERKAT (Germany), CDTi Advanced Materials (US), Tenneco (US), and IBIDEN (Japan).
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The light-duty vehicle segment is projected to grow at the highest CAGR in the automotive catalyst market
Based on vehicle type, the light-duty vehicle segment of the automotive catalyst market is projected to grow at the highest CAGR during the forecast period. Passenger cars lead automotive production across the globe. The increasing use of automotive catalysts in passenger cars is expected to result in higher demand during the forecast period. In recent years, automotive manufacturers have been focusing on enhancing the overall fuel efficiency of vehicles, which, in turn, has created the high demand for automotive catalysts.
Palladium segment is estimated to account for the largest share of the automotive catalyst market in 2018
Based on type, the palladium segment is estimated to account for the largest share of the automotive catalyst market in 2018. Palladium is used as an oxidation catalyst. Palladium’s use as a catalyst has grown in importance in recent years driven by factors, such as increase in automotive sales and growing regulations on emissions. It is more widely used in gasoline-based engines than in diesel engines. As palladium is less expensive than platinum, its usage is projected to increase gradually in the automotive catalyst market during the forecast period.
BASF is one of the world’s largest chemical companies operating in business segments, namely, chemicals, functional materials & solutions, oil & gas, performance products, and agricultural solutions. The company also has other businesses, such as fertilizers, the sale of raw materials, engineering & other services, and rental income & leases. The company has a strong presence in the automotive catalyst market, with a diversified product portfolio and a vast consumer base. In December 2017, the company expanded its mobile emission catalyst production site in Ṥroda Ṥl¹ska, Poland. This expansion added 14,000 square meters to the manufacturing site and resulted in the addition of new production lines.
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The surface of automotive catalysts is very large and the average internal surface area in carious catalyst convertor is equal to the size of three football fieldsIn the last several years, the automotive catalysts industry got a large development due to the stricter automotive emission standard.
In 2015, the global capacity of automotive catalyst is about 220 million liters and the actual production is expected to be 187 million liters.Europe is still the largest supplier with top 3 manufacturers set headquarters there and the largest consumption market with a large vehicle population.
China is followed, with fast developed automotive industry.
Though USA also has a large vehicle population, the consumption is not much as Europe, due to the large share of low duty vehicles.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-automotive-catalyst-2019-2024-672 According to this study, over the next five years the Automotive Catalyst market will register a 6.7% CAGR in terms of revenue, the global market size will reach US$ 19800 million by 2024, from US$ 14300 million in 2019.
This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Catalyst market by product type, application, key manufacturers and key regions and countries.
This study considers the Automotive Catalyst value and volume generated from the sales of the following segments: Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
The Automotive Catalyst Market is estimated to be USD 12.35 billion in 2018 and is projected to reach USD 15.73 billion by 2023, at a CAGR of 5.0% from 2018 to 2023.Browse 69 market data Tables and 35 Figures spread through 98 Pages and in-depth TOC on "Automotive Catalyst Market”.Automotive catalysts are catalysts installed on vehicles to convert harmful exhaust gases, such as NOx, hydrocarbons, CO, and other particulate matter into relatively safe chemicals, such as nitrogen, carbon dioxide, and water.
The demand for these catalysts is increasing because the emission standards implemented by governments across the globe are becoming increasingly stringent.
Key players in the automotive catalyst market include BASF (Germany), Johnson Matthey (UK), Umicore (Belgium), Cataler (Japan), Cummins (US), Heraeus (Germany), INTERKAT (Germany), CDTi Advanced Materials (US), Tenneco (US), and IBIDEN (Japan).Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=96120211Besides new product launches, companies have adopted the expansions strategy to increase their market shares and distribution networks.
These strategies accounted for a significant share of the total growth strategies adopted by key players in the automotive catalyst market between 2015 and 2017.Palladium segment is estimated to account for the largest share of the automotive catalyst market in 2018Umicore (Belgium), one of the key players in the automotive catalyst market, develops automotive emission systems for light-duty and heavy-duty vehicles.
The catalysts are used in a wide range of powertrains, including gasoline and diesel engines, natural gas, and alternative fuels, and are increasingly critical in engines supporting mild and full hybrid vehicles.
This acquisition aided the company to tap into to the customer base in Europe and China as well as acquire the emission control technology for heavy duty diesel applications.
This product is installed in the exhaust systems of the vehicles specifically inside the exhaust line situated between the engine and silencer.
Global platinum automotive catalyst market is expected to grow with a steady CAGR in the forecast period of 2019-2026.
This rise in market value can be attributed to the high levels of production and manufacturing of vehicles and effectivity of these products to restrict/control the emissions of toxic gases from the vehicles.
Top Manufacturers Covered in the Report: INTERKAT Catalyst GmbH; Johnson Matthey; CDTi Advanced Materials, Inc.; BASF SE; Royal Dutch Shell; Clariant; Heraeus Holding; CATALER CORPORATION; Ecocat India Pvt.
Ltd.; DEC; Magneti Marelli S.p.A.; Tenneco Inc.; Umicore; Cummins Inc.; Eberspächer; N.E.
CHEMCAT; SINOCATA; IBIDEN; BOSAL and Klarius Products Ltd.Get Exclusive Sample Report: @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-platinum-automotive-catalyst-marketTable of Content-01: Executive Summary02: Scope of The Report03: Market Landscape04: Market Sizing05: Market Segmentation by Product06: Five Forces Analysis07: Customer Landscape08: Geographic Landscape09: Decision Framework10: Drivers and Challenges11: Market Trends12: Vendor Landscape13: Vendor AnalysisTo Continue…….!!!
