According to Stratistics MRC, the Global Emission Control Catalyst market accounted for $10.61 billion in 2015 and is expected to grow at a CAGR of 10.6% to reach $21.5 billion by 2022. Increasing automotive fleet and strict environmental policies that have been adopted by various governments and environmental protection agencies are the major driving factors for the market growth. There is increasing usage of palladium in automotive emission control due to less cost, availability and performance advantages.
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Due to severe emission standards and economic development in the region, the market is expected to witness a highest growth rate in Asia Pacific. The key factors such as cost optimization are anticipated to propel the emission control catalyst market in Asia Pacific. The market growth in North America is due to the huge number of automobiles and industries existing in the region, particularly in the U.S.
Some of the key players in the emission control catalyst market include Clariant International Ltd., BASF Catalysts LLC, KATCON Global, AeriNox, Inc., Johnson Matthey PLC, DCL International Inc., Eastern Manufacturing Inc., Cormetech Inc., Bosal Nederland B.V., Tenneco Inc, AirTek Inc, Bastuck GmbH &Co., and Tenneco Inc.
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Product Types Covered:
o Rest of Europe
o New Zealand
o Rest of Asia
Rest of the World
o Middle East
o South Africa
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