Auto Catalyst Market Size

Global Auto Catalyst Market size was valued at USD 13.4 billion in 2023 and is poised to grow from USD 14.22 billion in 2024 to USD 22.83 billion by 2032, growing at a CAGR of 6.1% during the forecast period (2025-2032).

In most industrial nations, expanding populations and rising per capita incomes have enabled numerous customers to invest in advanced transport systems, which is expected to drive the global auto catalyst market growth.

With tougher pollution controls, greater car manufacturing, and advances in technology, the auto catalyst market is growing rapidly as well. Orders for effective catalytic converters are being driven by governments throughout the world adopting stricter emission limits in an effort to reduce pollution. For instance, the implementation of the Euro 7 emission regulations, which will take effect in 2025, is forcing automakers to use more effective catalysts and will require cars to release significantly less CO2 and NOx. India's Bharat Stage VI (BS-VI) and China's “China 6” standards are also adding the requirement for high-performance catalysts.

In emerging economies such as India, Brazil, and Southeast Asia, where environmental sustainability is an issue of concern for governments, market opportunities emerge due to the urbanization and industrialization in progress. Moreover, technological progress in nano-catalysts and emerging catalyst materials offers opportunities for performance and cost improvements. Companies are also getting a competitive advantage by making investments in precious metal recycling technologies for platinum, palladium, and rhodium in spent catalysts. Nevertheless, the surge in use of electric vehicles (EVs), which do not use catalytic converters, is creating challenges. Irrespective, hybrid vehicles continue to spur demand, utilizing internal combustion engines. The market is adapting to cut material expense without sacrificing high efficiency, as has been proved with Johnson Matthey's new low-palladium catalysts, launched in 2025.

How Platinum-Group Metals are Shaping the Future of Catalytic Converters?

Advances in catalytic performance, durability, and sustainability are driving rapid change in the auto catalyst market. Researchers and manufacturers are developing next-generation catalyst materials, nano-catalysts, and fresh coating technology in response to growing demand for lower fuel consumption and emissions. High-performance metal alloys, such as palladium-rhodium-platinum composites, which enhance catalytic activity with lower material costs, are one of the key advancements.

• For instance, in March 2024, BASF launched a new-generation tri-metal catalyst that utilized the highest available platinum group metals (PGMs) to minimize costs without decreasing efficiency.