Allied Market Research published a report, titled, Automotive Catalyst Market by Metal Type (Platinum, Palladium, Rhodium, and Others), Engine Type (Gasoline and Diesel), and Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Motorcycle): Global Opportunity Analysis and Industry Forecast, 2018-2025. The report offers an in-depth analysis of the automotive catalyst market by closely monitoring the industry trends, drivers & opportunities, top investment pockets, key growth strategies, and competitive landscape. According to the report, the global automotive catalyst market garnered $22.60 billion in 2017 and would accrue a sum of $31.81 billion by 2025, thereby growing at a CAGR of 4.2% from 2018 to 2025.
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The report points out the drivers of the global automotive catalyst market as the proactive measures by the government to control emissions and rise in production of automobiles. However, rise in production of electric vehicles as well as high cost of platinum, palladium, rhodium, and other metals used as automotive catalysts are likely to restrain the growth of the market. On the other hand, initiatives by the governments of various countries to control pollution levels and bring innovation in emission control technologies for improving fuel efficiency are likely to offer lucrative opportunities for the market growth.
Increase in production of automobiles and enactment of emission control regulations by various government bodies to propel the growth of the automotive catalyst market.
Others segment (Pt-Pd, Pt-Rh, & Pd-Rh) to dominate through 2025
Based on metal types, the others segment, which consists of Pt-Pd, Pt-Rh, and Pd-Rh, captured the largest market share of 52% in 2017 and is expected to maintain its dominance through the forecast period. This is because of the growing adoption of precious metal mixtures such as Pd-Pt, Pd-Rh, Pt-Rh, and others in automotive catalysts, which enables manufacturers to use these metals efficiently. However, the rhodium segment would grow at the fastest CAGR of 6% through 2025 because of its ability to reduce high nitric oxide (NO) compared to other metals.
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Gasoline segment to maintain revenue lead through 2025
The gasoline segment was the largest market in 2017, accounting for about 71% of the market share. It is also expected to maintain its dominance during the forecast period, as the adoption of gasoline-powered passenger cars and light commercial vehicles is high in developed countries. However, the diesel segment would witness the fastest CAGR of 5.6% through 2025. This is due to government initiatives to promote the use of diesel-powered public transport vehicles.
Asia-Pacific to be the largest contributor through 2025
In 2017, Asia-Pacific accounted for more than half of the market share and is expected to maintain its lion’s share through the forecast period. This due to the growing population and increasing demand for automobiles in the region. However, Latin America, Middle East and Africa (LAMEA) would exhibit the fastest CAGR of 5.5% through 2025.
The report also provides an analysis of the key companies operating in the market. The players include BASF SE, Johnson Matthey, Umicore, Tenneco Inc., CDTi Advanced Materials, Inc., Cummins Inc., Eberspächer, Ecocat India Pvt. Ltd., Klarius Products Ltd., Clariant, and others.
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