Emission Control Catalysts Market – Global Forecasts and Opportunity Assessment by Technavio

LONDON–(BUSINESS WIRE)–#Emissioncontrolcatalysts–According to the latest market study released by Technavio,
the global
emission control catalysts (ECCs) market is expected to reach
USD 12.8 billion by 2021, growing at a CAGR of almost 10%.

This research report titled ‘Global
ECCs Market 2017-2021’ provides an in-depth analysis of the
market in terms of revenue and emerging market trends. This market
research report also includes up to date analysis and forecasts for
various market segments and all geographical regions.

The global ECCs market is expected to grow rapidly owing to the
increasing demand from the increasing regulatory compliance pressure in
the automotive segment. Europe accounted for 52% of the share in the
global ECCs market in 2016. The market growth in the region is driven by
regulatory compliance pressures. Among the types of ECCs, palladium
holds the largest share, accounting for 60% in the market.

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Technavio’s analysts categorize the global ECCs market into three major
segments by metal. They are:

• Palladium
• Platinum
• Rhodium

Global ECCs market by palladium catalyst

Palladium is a shiny, silvery-white rare metal. It is widely used in
automotive, jewelry, and other industrial applications. It is used as an
ECC and plays a crucial role in making modern cars more efficient and
environment-friendly.

According to Hitesh Bhatia, a lead specialty
chemicals research analyst from Technavio, “The demand for
palladium in catalytic converters in the automobile segment is expected
to increase during the forecast period. Automobile catalytic converter
is one of the largest applications of palladium. Environment-friendly
innovations, such as catalytic converters and fuel cells, have aided the
growth of palladium catalysts in automotive applications.”

Global ECCs market by platinum catalyst

Platinum reduces the emissions of sulfur, phosphorus, and lead. The
metal is preferred in automotive applications owing to its high melting
point, greater strength, and corrosion resistance. The increasing
production of light- and heavy-duty diesel trucks is anticipated to
drive the market growth in key regions, such as China, India, and Japan.

“The high cost of platinum when compared with palladium and reduced
activity for the conversion of NOx and low thermal resistance when
handling high-temperature loads in catalytic converters are some of the
notable factors hindering the acceptance of platinum in ECCs,” says
Hitesh.

Global ECCs market by rhodium catalyst

Rhodium is the most expensive catalyst available for emission control
applications. However, the price is justified as it offers the highest
catalytic activity for the efficient removal of NOx from the exhaust.

A combination of both palladium and rhodium catalytic converters are
being introduced in the market. This enables a trade-off between the
performance and justifies the cost. The fact that these precious metals
have no clear substitutes shields them from the threat of substitutes as
the demand grows. The demand is mainly driven by stringent emission
standards for OEMs the tightening standards aftermarket.

The top vendors highlighted by Technavio’s research analysts in this
report are:

• BASF
• CATALER
• Clariant
• Johnson Matthey
• Umicore

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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