|Study Period:||2016 - 2026|
|Fastest Growing Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The global automotive catalyst market is projected to register a CAGR of over 3% during the forecast period (2021-2026).
The automotive catalyst market was negatively impacted by the COVID-19 pandemic due to nationwide lockdowns, strict social distancing measures, and disruption in the global supply chain networks. Most of the automotive production plants were shut down. The declining automotive industry, with the temporary shutdown of automotive manufacturing units and various industrial activities due to the ongoing pandemic scenario, led to a decline in the demand for automotive catalysts. According to OICA, automobile production declined by around 16% in 2020 compared to 2019.
- Over the medium term, the major factor driving the growth of the automotive catalyst market is the stringent emission standards implemented by governments across the world.
- On the flip side, the rise in the popularity of electric vehicles and the slowdown in global automobile production are expected to hinder the growth of the automotive catalyst market.
- Europe is expected to dominate the market and have the largest market share globally, owing to the adoption of stringent emission standards in the region.
Scope of the Report
The automotive catalyst is used in vehicle exhaust systems to control the emission of harmful gases into the atmosphere, such as hydrocarbons, carbon oxides, nitrogen oxides, and other particulate matter. It aids in the conversion of hazardous gases into less toxic gases such as nitrogen and carbon dioxide. The automotive catalyst market is segmented by type, vehicle type, and region. By type, the market is segmented into platinum, palladium, rhodium, and other types. By vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The report also covers the market size and forecast for the automotive catalyst market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Light Commercial Vehicles|
|Heavy Commercial Vehicles|
Key Market Trends
The Passenger Cars Segment to Dominate the Market
- Internal combustion engines produce toxic emissions due to incomplete combustion in the engine.
- Apart from the fact that CO is poisonous to humans, the stagnant air masses over urban areas can hold the pollutants for long periods. When sunlight interacts with these pollutants, the formation of ground-level ozone occurs due to the chemical reaction between HC, NOx, and sunlight.
- The automotive catalyst is used in the exhaust system of vehicles to control the emission of harmful gases, such as hydrocarbons, carbon oxides, nitrogen oxides, as these catalysts help in converting harmful gases into less toxic gases, such as nitrogen and carbon dioxide.
- In 2020, the total number of passenger cars produced globally was 55.83 million units witnessing a decline of around 16.9%. The decline in the sales of passenger cars is expected to hinder the growth of the automotive catalysts in the forecast period.
- The governments of developing nations are taking initiatives in concern of emission control by spending hugely on new emission controlling technologies like fuel efficiency, which is expected to boost the growth of the automotive catalyst market. A four-way catalyst has better efficiency than older catalysts.
- The aforementioned factors are expected to show a significant impact on the automotive catalyst market during the forecast period.
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Europe to Dominate the Market
- Europe is expected to dominate the automotive catalyst market due to the increasingly stringent emission standards in the region.
- Stringent government regulations to restrain pollution surged the demand for automotive catalysts in recent times. For instance, Euro 6d-TEMP was implemented in September 2019, which limits the NOx emission to 85.8mg/km for petrol cars and 114.4mg/km for diesel cars.
- In 2020, the total number of passenger cars produced in Europe witnessed a 22.3% downfall. Almost all the major automobile producers in Europe witnessed a decline in production due to the COVID-19 impact.
- Between January and December 2020, passenger car sales in Europe fell by around 21% to approximately 14 million units. Sales began to decline in mid-March as a result of the coronavirus pandemic. In May 2020, year-on-year sales were down 57%, but as economies reopened, car sales began to rebound. The month-on-month sales more than doubled in May and continued to rise in June.
- The abovementioned factors are expected to show a significant impact on the market in the coming years.
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The automotive catalyst market is partially fragmented. Some of the major companies operating in the market include BASF SE, Tenneco Inc., Johnson Matthey, Klarius Products Ltd, and Umicore.
- In July 2021, BASF SE has announced the acquisition of Zodiac Enterprises LLC in Caldwell, Texas of United States. With this acquisition, the company has expanded its chemical catalyst recycling capacity and capability. Moreover, the site recycles precious metals from industrial scrap, primarily chemical catalysts. Furthermore, this investment allows the company to meet the increased customer demand for recycling spent chemical and automotive catalysts.
- In May 2021, BASF SE has announced the plan to expand the project at its Platinum Group Metals (PGM) refining facility in Seneca, South Carolina, United States to boost the site’s refining capacity for recycled precious metals from spent catalysts, which will further strengthen the company presence in the spent automotive catalyst recycling market, globally.
- In October 2019, Umicore inaugurated its new production facility for fuel cell catalysts in SongDo Incheon City (Seoul area), Korea, close to Umicore’s technology development center for catalysts. The facility will support the growth of Hyundai Motors Group and other automotive customers.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Stringent Emission Regulations
4.1.2 Other Drivers
4.2.1 Rise in Popularity of Electric Vehicles
4.2.2 Slowdown in Global Automotive Production
4.2.3 Negative Impact of COVID-19 Pandemic
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.4 Other Types
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Light Commercial Vehicles
5.2.3 Heavy Commercial Vehicles
22.214.171.124 South Korea
126.96.36.199 ASEAN Countries
188.8.131.52 Rest of Asia-Pacific
5.3.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 CDTi Advanced Materials Inc.
6.4.4 Cummins Inc.
6.4.5 DCL International Inc.
6.4.6 Ecocat India Pvt Ltd
6.4.7 Johnson Matthey
6.4.8 Klarius Products Ltd
6.4.9 N.E. CHEMCAT
6.4.10 Tenneco Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Catalyst Market market is studied from 2016 - 2026.
What is the growth rate of Automotive Catalyst Market ?
The Automotive Catalyst Market is growing at a CAGR of >3% over the next 5 years.
Which region has highest growth rate in Automotive Catalyst Market ?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Catalyst Market ?
Europe holds highest share in 2020.
Who are the key players in Automotive Catalyst Market ?
BASF SE , Tenneco Inc. , Johnson Matthey , Klarius Products Ltd , Umicore are the major companies operating in Automotive Catalyst Market .