Global Automotive Catalyst Market

Automotive Catalyst Market Size, Share, Growth Analysis, By Product Type (Two-way catalytic converter, Three-way catalytic converters), By Engine Type( Diesel, Gasoline), By Application(Heavy-Duty Vehicle, Light-Duty Vehicle), By Raw Material(Rhodium, Platinum) - Industry Forecast 2024-2031

Report ID: SQMIG25A2141 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 116 | Figures: 77

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Automotive Catalyst Market size was valued at USD 12.45 billion in 2019 and is poised to grow from USD 12.8 billion in 2023 to USD 18.98 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

Automotive Catalyst Market is highly competitive with the presence of several international and local players across the globe. Product diversification, advancement, merger & acquisition and quality enhancing are the leading key strategies opting through prominent market players 'BASF SE', 'Johnson Matthey PLC', 'Umicore SA', 'Clariant AG', 'Solvay SA', 'Heraeus Holding GmbH', 'Corning Incorporated', 'Tenneco Inc.', 'Cataler Corporation', 'Magneti Marelli S.p.A.', 'CDTi Advanced Materials, Inc.', 'Clean Diesel Technologies, Inc.', 'Cummins Inc.', 'Faurecia S.A.', 'Mitsubishi Heavy Industries Ltd.', 'N.E. Chemcat Corporation', 'Tenneco Automotive Operating Company Inc.', 'Unicore Catalyst Pvt. Ltd.', 'Weifu High-Technology Group Co. Ltd.', 'W.R. Grace & Co.'

Rise in per capita GDP and disposable income of the population has led to an increase in the number of vehicles in use. Rapid increase in the rate of motorization is boosting the demand for automotive components. Auto catalysts have become a vital part of vehicles to minimize emissions.

The key players of the automotive catalyst market are investing in the improvement and development of catalysts. A three-way catalyst can reduce the emitted pollutant from vehicle at 100% conversion efficiency at its operational temperature, typically above 400C, which is much higher. Johnson Matthey Inc., a leading automotive catalyst producer is working on the development of three-way catalyst for future vehicle, which improves the fuel efficiency and reduces CO2 emission substantially at lower operating temperature. This innovation in automotive catalysts is anticipated to provide future growth opportunity to the automotive catalyst market.

Asia Pacific dominated the automotive catalyst market. Increasing regulations pertaining emission control limits implemented by China's State Environmental Protection Administration (SEPA) to curb vehicular pollution is anticipated to boost the demand for automotive catalyst in Asia Pacific. Moreover, these regulations will limit the use of increased PGMs in the coating of an automotive catalyst substrate. This, in turn, is likely to make auto catalyst expensive in the coming years and, therefore, increase market revenue share. 

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