ID: MRFR/CnM/6062-CR | 180 Pages | Author: Chitranshi Jaiswal | June 2021
The global mobile emission catalysts market is projected to register a CAGR of around 7.2% toreach USD 29,970.31 million by the end of 2028.
The mobile emission control catalysts are the fundamental constituents of automobiles and are powered by internal combustion engines. These catalysts help mitigate the harmful effects of pollutants released in the exhaust, such as NOx, carbon monoxide, unburned hydrocarbons, particulate matter, diesel carbon particulates (soot), and greenhouse gases. Various advanced catalyst technologies, such as three-way catalyst (TWC), diesel oxidation catalyst (DOC), selective catalytic reduction (SCR), diesel particulate filter (DPF), lean GDI catalysts, natural gas catalysts, and direct ozone reduction catalysts, are gaining popularity in the automotive industry to clean the exhaust gases from both gasoline and diesel engines.
The prominent factor favoring the growth of the mobile emission catalysts market is the growing demand for mobile emission catalysts in the automotive industry due to the stringent emission regulations, especially from Europe and China.The major GHGs are carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), and fluorinated gases (hydrofluorocarbons, perfluorocarbons, sulfur hexafluoride, and nitrogen trifluoride). The burning of fossil fuels, such as coal, natural gas, and oil, particularly from the transportation sector, results in the emission of CO2.The European Union imposes various regulations under directives such as 91/441/EEC, 98/69/E.C., 94/12/E.C., 2006/120/E.C., among others for limiting GHG emissions. Like the European standards, the US EPA and the California Air Resources Board have implemented their regulations regarding GHG emissions across the California Air Resources Board (CARB) states, which include Connecticut, Delaware, Maine, Maryland, Massachusetts, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, Vermont, Washington state, and Washington DC. The EPA, however, adopted the Californian emissions standards in the 2016 model as a national standard while collaborating with the California Air Resources Board on stricter national emissions standards for the 2017–2028 model years.Furthermore, various programs are conducted in partnerships with countries and manufacturing companies with an intent to lower GHG emissions. For instance, the US EPA had introduced voluntary partnership programs in 2000, which in 2017 saved USD 37 billion and avoided emissions of 433 million tons of carbon dioxide. This program consisted of 40% of the Fortune 500 companies.
Another key driver for the global mobile emission catalysts market is the increasing production and sales of passenger cars. In the automotive market, the sales of small cars (subcompacts, microcars, and superminis) are significantly highand account for over 33% of total vehicles sold. According to the Center for Automotive Research, this is further expected to reach over 30 million vehicles by the end of 2020.
However, the growing demand for electric vehicles in the market is a key restraining factor for the global market. On the other hand, factors such as product innovation and novel technology development and the expanding automotive industry in emerging regions such as Latin America and the Middle East and Africa are expected to create new growth opportunities for the players in the global mobile emission catalysts market.
Covid Impact Analysis
The global pandemic has resulted in a tight supply of the products primarily due to the reduced operating capacities of production plants across Europe and Asia-Pacific. Moreover, the manufacturers are facing serious headwinds due to disruptions in raw material supply and fluctuations in prices. The shutting of production facilities by manufacturers and a decline in demand from automotive manufacturers have affected the global mobile emission catalysts market. Moreover, the companies are working aggressively toward safeguarding the health and wellbeing of their employees while also supporting government goals of maintaining critical business activities in healthcare, power generation, and food production.
According to the United Nations, the global economy is projected to contract by around 3% or more instead of registering 2.5% growth projected by the World Economic Situation and Prospects report 2020. Various monetary and fiscal policies are imposed by the governments across the globe to mitigate the impact of COVID-19 causing relief to the consumers.
Supply Chain Analysis
The supply chain analysis is the process of evaluating every stage and step taken by stakeholders involved throughout the production and distribution of mobile emission catalysts. The supply chain includes raw materials and suppliers, mobile emission catalysts producers, distribution channels, and end-use industries.
The key raw materials used in the production of mobile emission catalysts include precious metals such as palladium, platinum, and rhodium. Some of key suppliers of precious metals include Anglo American, Implats Platinum Limited, Vale, among many others.
The distribution channel in this market comprises distributors, wholesalers, and e-commerce merchants.
The global mobile emission catalysts market has been segmented on the basis of metal type, technology, vehicle type, and region.
By metal type, the mobile emission catalysts market has been segmented into palladium, platinum, rhodium, and others. The palladium segment accounted for the largest market share in 2020 due to its wide use in gasoline autocatalyst as an oxidation catalyst. It is aimed to lower harmful emissions for engines that are still using petroleum.
Based on the technology, the mobile emission catalysts market has been categorized into Three-way conversion catalyst (TWC), Four-way conversion catalyst (FWC), Diesel oxidation catalyst (DOC), catalyzed soot filter (CSF), selective catalytic reduction (SCR), Lean GDI catalyst (LGC), electrically heated catalytic converter (E-CAT), and others.Among these, the diesel oxidation catalyst segment emerged as the fastest-growing segment during the review period.
Global Mobile Emission Catalysts Market Revenue, by Vehicle Type, 2020 (USD Million)
Sources: MRFR Analysis
On the basis of vehicle type, the global mobile emission catalysts market has been segmented into light-duty vehicles, heavy-duty diesel, natural gas vehicles, motorcycles, utility engines, and others. The light-duty vehicles segment emerged as the leading and fastest-growing segment, registering a CAGR of over 7.5% during the assessment period.
Global Mobile Emission Catalysts Market Share, by Region, 2020 (%)
Sources: MRFR Analysis
The global mobile emission catalysts market has been studied across Asia-Pacific, North America, Europe, Latin America, Middle East & Africa, and the Benelux. Asia-Pacific accounted for more than 40% of the global market share in 2020. The key players operating in the Asia-Pacific market are adopting various business strategies such as expansions, R&D, joint ventures, new product launches, agreements, and acquisitions to strengthen their market hold. For instance, in December 2018, BASF announced the investment at the new mobile emissions catalysts production facility in Shanghai, China. Innovative catalysts for gasoline and diesel vehicles will be manufactured at this plant to meet the growing demand in the Chinese market.
The market growth in Europe can be attributed to the stringent emission control regulations in Western Europe and increasing automobile production in the region.
The U.S.has one of the largest automotive markets, according to the U.S. Department of Commerce, International Trade Administration (ITA), in 2018, the light vehicle sales were 17.2 million units 2018. This results in concerns regarding energy conservation and climate change, thereby imposing various laws and regulations for environmental safety, thus, increasing the demand for mobile emission catalysts.
Key players operating in the global mobile emission catalysts market include BASF SE (Germany), Solvay (Belgium), Johnson Matthey (UK), Clariant (Switzerland), Umicore AG & Co. KG (Belgium), Cataler Corporation (Japan), Corning Incorporated (US), Heraeus Holding (Germany), Tenneco Inc. (US), N.E. CHEMCAT (Japan), and Zeolyst International, Inc (US).
BASF SE, Solvay, Johnson Matthey, Clariant, Cataler Corporation, and Corning Incorporated are the prominent players operating in the global mobile emission catalyst market. These players account for a major share of the global market owing to their industry experience, wide product portfolio, global revenue base, and distribution network worldwide.
The players followed key strategic initiatives such as product launch, partnership, and expansionin the global mobile emission catalysts market. For instance, in December 2020, Corning Incorporated introduced a new generation of gasoline particulate filters for automotive emissions control, Corning DuraTrap GC 2.0 filters. These filters help new gasoline-engine vehicles, including hybrids, achieve even lower levels of fine particulate tailpipe emissions as regulatory limits tighten.
Global Mobile Emission Catalysts market, by Metal Type
Global Mobile Emission Catalysts market, by Technology
Global Mobile Emission Catalysts market, by Vehicle Type
Global Mobile emission catalysts market, by Region
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|Market Size||2030 : Significant value|
|CAGR||CAGR of 7.2% (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Precious Metal, Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE (Germany), Solvay (Belgium), Johnson Matthey (UK), Clariant (Switzerland), Umicore AG & Co. KG (Belgium), Cataler Corporation (Japan), Corning Incorporated (US), Heraeus Holding (Germany), N.E. CHEMCAT (Japan), Zeolyst International, Inc (US)|
|Key Market Opportunities||
|Key Market Drivers||Growing concern about energy conservation and demand for efficient internal combustion engines is boosting market growth.|
The mobile emission catalysts market is projected to grow at a 10% CAGR between 2018-2023.
Europe is predicted to have the lions share in the mobile emission catalysts market.
Growing concern about energy conservation and demand for efficient internal combustion engines is boosting market growth.
High cost may limit market growth.
Key competitors in the mobile emission catalysts market include Zeolyst International, Inc (US), N.E. CHEMCAT (Japan), Heraeus Holding (Germany), Corning Incorporated (US), Cataler Corporation (Japan), Umicore AG & Co. KG (Belgium), Clariant (Switzerland), Johnson Matthey (UK), Solvay (Belgium),and BASF SE (Germany).
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