Market Size of Automotive Catalyst Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 117.75 Thousand ounces |
| Market Volume (2029) | 96.21 Thousand ounces |
| CAGR (2024 - 2029) | -3.96 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Catalysts Market Analysis
The Automotive Catalyst Market size is estimated at 117.75 Thousand ounces in 2024, and is expected to decline to 96.21 Thousand ounces by 2029.
The COVID-19 pandemic negatively impacted the market due to the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, stringent emission standards implemented by governments across the world and an increase in the production of automobiles are the major factors driving the growth of the market studied.
- On the flip side, the rise in the popularity of electric vehicles is hindering the growth of the market.
- However, surge in emphasis of developing nations towards the emission standards is anticipated to provide future growth opportunity to 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.
