Global Catalytic Convertor Market

Global Catalytic Convertor Market Size, Share, Growth Analysis, By Type(Three-Way, Two-Way), By Material(Platinum, Rhodium) - Industry Forecast 2023-2030


Report ID: SQMIG20D2036 | Region: Global | Published Date: February, 2024 | Pages: 268 | Tables: 63 | Figures: 75

Global Catalytic Convertor Market Insights

Global Catalytic Convertor Market size was valued at USD 50 billion in 2021 and is poised to grow from USD 54.17 billion in 2022 to USD 87.83 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).

A system called an automotive catalytic converter is installed in a car's exhaust system to get rid of dangerous pollutants like carbon monoxide, nitrogen oxide, and hydrocarbons. Catalytic converters come in a variety of designs. By catalysing harmful gases into less dangerous ones, these devices reduce emissions by a redox reaction, gases. They transform carbon monoxide, nitrogen oxide, and convert hydrocarbons into nitrogen, oxygen, carbon dioxide, and water oxidation and reduction-based chemical reaction.

Additionally, the catalytic converter aids in improving the effectiveness of transportation, and advancements in the global automobile industry. Catalytic converters, pipes, mufflers, manifolds, and other components make up the exhaust system's monolithic forms. The noise produced by the exhaust is lessened because of the design i.e system using catalytic converters and sound absorbers. In doing so, vehicles reduce global warming and have a favourable effect on the environment. Automotive manufacturers are working hard to create vehicles that would reduce harmful emissions, improving vehicle performance. Moreover, they Seek expertise in the application of global standards and regulations, economical solutions, and optimal vehicle performance to advance the automotive industry's catalytic converter market growth.

US Catalytic Convertor Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 50 billion

Largest Segment

Three-way catalytic converters

Fastest Growth

Three-way catalytic converters

Growth Rate

7.5% CAGR

Global Industrial Catalytic Converter Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Industrial Catalytic Converter Market Size By Product Type 2021-2030 ($ Bn)
Global Industrial Catalytic Converter Market Size By Product Type 2021-2030 (%)

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Global Catalytic Convertor Market Segmental Analysis

The Global Catalytic Convertor Market has been segmented based on type, material, and region. By type, the Catalytic Convertor Market is segmented into two-way, three-way, and diesel oxidation. Based on the material Catalytic Convertor Market is classified as platinum, rhodium, and palladium. Based on catalytic converters, the Catalytic Convertor Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Catalytic Convertor Market Analysis by Type

The Three-way oxidation-reduction (TWORCC) market dominated the segment as the Three-way oxidation-reduction device is a type that is used in the vehicle emission control system in most parts of the world. All automobile manufacturers are required by strict emission regulations to incorporate TWORCC in gasoline-powered vehicles. Over the forecast period, the TWORCC segment is anticipated to maintain its leadership unlike the oxidation catalyst, which is composed of palladium and platinum instead of rhodium. Both of these catalysts have a ceramic honeycomb structure and are housed in a small, integrated unit that resembles a muffler.

Global Industrial Catalytic Converter Market Size By Product Type 2021(%), 2021 (%)

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Global Catalytic Convertor Market Regional Insights

The Asia Pacific region with the largest market share for catalytic converters worldwide is anticipated to maintain its dominance over the forecast period. The main causes of the high number of automobiles in this area are the high rates of urbanization, population growth, improvement in living conditions, growth of the industrial sector, and an increase in average household income. Vehicle emissions have greatly increased along with rising vehicle manufacturing, which is contributing to a high level of air pollution and global warming.

The governments of a few developing and developed economies, including India, China, and Japan, have enacted strict car emission limits in light of this problem. For instance, India and China are moving toward implementing the BS-VI and China VI standards, respectively, which are similar to the Euro VI emission standard in Europe. It is anticipated that such major shifts towards rigorous emission standards will result in a huge increase in demand for several after-treatment devices. The after-treatment device market in this region is dominated by nations like China and Japan. Due to the substantial presence of renowned automotive manufacturing businesses in this region, Europe represents the second-largest share of the global market. Catalytic converters are in high demand on the European market as a result of the quick research and development operations as well as the implementation of strict emission standards like Euro-VI.

Global Industrial Catalytic Converter Market Size By Geography, 2021-2030, 2023-2030
  • Largest
  • Fastest

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Global Catalytic Convertor Market Dynamics

Catalytic Convertor Market Driver

  • Due to the quick growth of the automotive industry, demand for catalytic converters for automobiles has risen significantly. Manufacturers in the automotive sector are obligated to use low-pollution technology and adhere to emission regulations set by the government. The automotive catalytic converter market is expected to grow as a result of several strategic alliances between vehicle and component manufacturers worldwide. Additionally, a rise in per capita income and a corresponding growth in global consumer purchasing power are predicted to improve car sales, which will, in turn, support the market.
  • Government regulations with strict requirements for reducing pollution and carbon emissions are driving the market. According to our survey, transportation-related carbon emissions account for around 25% of all worldwide pollution, with road travel accounting for over 70% of this total. The market for vehicle catalytic converters is being driven by all of these causes.

Catalytic Convertor Market Restraint

  • The market for car catalytic converters is under threat from the rising popularity of electric vehicles. An electric motor, as opposed to an internal combustion engine, produces the power in an electric vehicle. As there is no need for a combustion chamber in an electric car, there is also no need for a catalytic converter, which might further hurt the automotive catalytic converter business.
  • The global market for automobile catalytic converters has suffered as a result of the coronavirus' quick spread throughout the world and the imposed lockdown in several nations. The supply chain has been hindered as a result, stopping automobile production and manufacturing all over the world. Automotive and transportation industry producers are making up for the losses incurred as a result of ecosystem disruption and a decline in car sales.

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Global Catalytic Convertor Market Competitive Landscape

Major players in the catalytic converter market are expanding their footprint through a variety of innovations and strategic planning thus to get an advantage over rival companies, these players are also searching for active collaborations, partnerships for research projects, etc. For instance, In May 2022, Mineworx announced Next Steps for Catalytic Converter Project with new innovations in the field.

Catalytic Convertor Market Top Player's Company Profiles

  • BASF Catalysts LLC
  • Johnson Matthey PLC
  • Umicore SA
  • Clariant AG
  • Cataler Corporation
  • Tenneco Inc.
  • Faurecia SA
  • MagnaFlow Performance Exhaust
  • Clean Diesel Technologies, Inc.
  • Bosal International N.V.
  • Calsonic Kansei Corporation
  • Eberspacher Group
  • Ecocat Oy
  • HJS Emission Technology GmbH & Co. KG
  • Katcon Global
  • Oxicat S.L.
  • Sango Co., Ltd.
  • Sejong Industrial Co., Ltd.
  • Yutaka Giken Co., Ltd.
  • Weifu High-Technology Group Co., Ltd.

Catalytic Convertor Market Recent Development

  • In December 2021, Leduc RCMP, in partnership with the City of Leduc, held a Catalytic Converter Theft Prevention event. This event highlighted a new crime prevention strategy and a demonstration was given of the etching of the vehicle identification number (VIN) number onto a catalytic converter of a vehicle.
  • In March 2021, Eberspaecher started a new plant for exhaust technology with an area of 21,000 square meters in Ramos Arizpe, Mexico. With this plant, the company aims to increase the production of exhaust systems with improved efficiency and lesser harmful emissions.

Global Catalytic Convertor Key Market Trends

  • The greater emission reductions provided by three-way catalytic converters are a motivating force for their widespread use. This catalytic converter has an advantage over the two-way converter in that it offers reduction, oxidation, and a nitrogen particulate filter in addition to oxidation. These three-way catalytic converters are typically seen in automobiles powered by diesel engines and are more effective than two-way converters.
  • Demand in the European region is mostly driven by strict emission standards like Euro V and Euro VI. For instance, the EU is currently mandating that, notably for passenger cars in the area, CO2 emissions for each car company's fleet average should be decreased to 95 g/km between till years 2024 and achieve a 15 % CO2 emission reduction by 2025 and 37.5 % reduction by 2030. Some nations, like the Netherlands, set stricter emission rules that call for 80g/km.

Global Catalytic Convertor Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, by type, the three-Way segment dominated the global Catalytic Convertor market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global Catalytic converter market owing to the region's high population, as well as higher investment in research conducted.

Report Metric Details
Market size value in 2021 USD 50 billion
Market size value in 2030 USD 87.83 billion
Growth Rate 7.5%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Three-Way, Two-Way, Diesel Oxidation
  • Material
    • Platinum, Rhodium, Palladium
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • BASF Catalysts LLC
  • Johnson Matthey PLC
  • Umicore SA
  • Clariant AG
  • Cataler Corporation
  • Tenneco Inc.
  • Faurecia SA
  • MagnaFlow Performance Exhaust
  • Clean Diesel Technologies, Inc.
  • Bosal International N.V.
  • Calsonic Kansei Corporation
  • Eberspacher Group
  • Ecocat Oy
  • HJS Emission Technology GmbH & Co. KG
  • Katcon Global
  • Oxicat S.L.
  • Sango Co., Ltd.
  • Sejong Industrial Co., Ltd.
  • Yutaka Giken Co., Ltd.
  • Weifu High-Technology Group Co., Ltd.
Customization scope

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  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Catalytic Convertor Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Catalytic Convertor Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Catalytic Convertor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Catalytic Convertor Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Catalytic Convertor Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Catalytic Convertor Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Catalytic Convertor Market size was valued at USD 50 billion in 2021 and is poised to grow from USD 54.17 billion in 2022 to USD 87.83 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).

Major players in the catalytic converter market are expanding their footprint through a variety of innovations and strategic planning thus to get an advantage over rival companies, these players are also searching for active collaborations, partnerships for research projects, etc. For instance, In May 2022, Mineworx announced Next Steps for Catalytic Converter Project with new innovations in the field. 'BASF Catalysts LLC', 'Johnson Matthey PLC', 'Umicore SA', 'Clariant AG', 'Cataler Corporation', 'Tenneco Inc.', 'Faurecia SA', 'MagnaFlow Performance Exhaust', 'Clean Diesel Technologies, Inc.', 'Bosal International N.V.', 'Calsonic Kansei Corporation', 'Eberspacher Group', 'Ecocat Oy', 'HJS Emission Technology GmbH & Co. KG', 'Katcon Global', 'Oxicat S.L.', 'Sango Co., Ltd.', 'Sejong Industrial Co., Ltd.', 'Yutaka Giken Co., Ltd.', 'Weifu High-Technology Group Co., Ltd.'

Due to the quick growth of the automotive industry, demand for catalytic converters for automobiles has risen significantly. Manufacturers in the automotive sector are obligated to use low-pollution technology and adhere to emission regulations set by the government. The automotive catalytic converter market is expected to grow as a result of several strategic alliances between vehicle and component manufacturers worldwide. Additionally, a rise in per capita income and a corresponding growth in global consumer purchasing power are predicted to improve car sales, which will, in turn, support the market.

The greater emission reductions provided by three-way catalytic converters are a motivating force for their widespread use. This catalytic converter has an advantage over the two-way converter in that it offers reduction, oxidation, and a nitrogen particulate filter in addition to oxidation. These three-way catalytic converters are typically seen in automobiles powered by diesel engines and are more effective than two-way converters.

The Asia Pacific region with the largest market share for catalytic converters worldwide is anticipated to maintain its dominance over the forecast period. The main causes of the high number of automobiles in this area are the high rates of urbanization, population growth, improvement in living conditions, growth of the industrial sector, and an increase in average household income. Vehicle emissions have greatly increased along with rising vehicle manufacturing, which is contributing to a high level of air pollution and global warming.

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Global Catalytic Convertor Market

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