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In 2017, the others segment dominated the global automotive catalyst market in terms of revenue in metal type. Furthermore, based on engine type, automotive catalyst was majorly used in the gasoline engine and is expected to maintain its lead throughout the forecast period (2018–2025). Presently, Asia-Pacific dominates the market, owing to the increase in production of automobiles in countries such as China, South Korea, and Japan. It is expected to maintain the major market chunk throughout the forecast period.
Akshay Jadhav & Anvay Sonpimple
Research Analyst, automotive and transportation at Allied Market Research
According to a recent report published by Allied Market Research, titled, Global Automotive Catalyst Market by Metal Type, Engine Type and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018 - 2025, the global automotive catalyst market was valued at $22,601.5 million in 2017 and is projected to reach $31,815.7 million by 2025, registering a CAGR of 4.2% from 2018 to 2025.
At present, Asia-Pacific dominates the market, followed by Europe, LAMEA, and North America. China dominated the global automotive catalyst market in 2017, while UK is expected to grow at a significant growth rate in Europe during the forecast period (2018 - 2025).
Factors such as emission control regulations by government and increase in the production of automobiles fuel the growth of the automotive market. Automobile manufacturers are producing vehicles with emission control technologies to meet the stringent regulations set to control pollution. However, rise in penetration and production of electric vehicles hinders the growth of the automotive catalyst market. In addition, high cost of platinum, palladium, rhodium, and other metals used as automotive catalysts restricts the growth of the market. Furthermore, government initiatives regarding emission control in the developing nations and innovation in emission technologies for fuel efficiency are anticipated to provide growth opportunities in the automotive catalyst market.
The key players analyzed in this report are BASF SE, Johnson Matthey, Umicore, Tenneco Inc., CDTi Advanced Materials, Inc., Cummins Inc., Eberspcher, Ecocat India Pvt. Ltd., Klarius Products Ltd., Clariant, and others.
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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
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