Auto Catalyst Market
Report ID: SQMIG15A2529
Auto Catalyst Market Trends
Skyquest Technology's expert advisors have carried out comprehensive research on the auto catalyst market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.
Auto Catalyst Market Dynamics
Auto Catalyst Market Drivers
Strict Emission Standards
- Governmental push worldwide in forcing tighter emissions in a bid to cut down air pollution is powering the demand for high-performance motor vehicle catalysts. Cars, for instance, must produce lower emissions of NOx and CO₂ by the year 2025 in accordance with the Euro 7 European Union requirements. Automakers must utilize catalytic converters that are of higher efficiency to comply with this requirement, driving business growth and catalytic technological advances.
Increasing Demand for Hybrid Cars
- The global auto catalyst market remains robust as hybrid cars continue to bridge the gap between internal combustion and full electrification. Hybrid cars need catalytic converters to manage emissions from their gasoline engines. The demand for sophisticated catalytic converters in the market was sustained when Toyota, the pioneer in hybrid technology, announced in early 2024 that it would expand the production of hybrid cars.
Auto Catalyst Market Restraints
Declining Sales of Vehicles with Internal Combustion Engines (ICE)
- Catalytic converters are becoming increasingly obsolete as EVs become increasingly prevalent. The auto catalyst market will be hit head-on by most nations' intentions to ban new ICE car sales by 2035, including the UK. The manufacturers are faced with this transition to shift towards creating products that fulfill changing mobility needs.
Expensive Precious Metal Prices
- Autocatalysis depend on expensive and price-inflatable platinum, palladium, and rhodium. Rhodium prices were highly volatile in 2024, which impacted the price of manufacturing catalytic converters. Tri-metal catalysts are one of the answers the industry is searching for, but depending too heavily on the pricey metal poses major challenges in the auto catalyst market.
Auto Catalyst Market Report Snapshots
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