The global auto catalyst market size is anticipated to reach USD 16.15 billion by the end of 2025. It is expected to witness 3.5% CAGR during the forecasted period, 2017 to 2025. This can be attributed to rising demand for auto catalyst across automobile sector for reducing the emission of harmful gases through motor vehicles.
They help in the conversion of toxic pollutants like carbon oxides, nitrogen oxides, hydrocarbons to less or no harmful fluids like carbon dioxide, water, and nitrogen. The demand for auto catalysts is directly proportional to the automobile production and after-sales required for the vehicles. Since the number of vehicles being produced is increasing continuously; the demand for these auto catalysts is anticipated to grow in the upcoming years.
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The LDV – Gasoline segment is expected to value USD 6,429.6 million until 2025 due to rising demand for gasoline fueled vehicles across countries like U.S. and China. Moreover, prices of HDV auto catalysts is expected to surge up in the upcoming years due to their additional applications for harmful gas conversion to the less toxic gases.
Asia Pacific held the largest share of 51.95% across the global market in 2016 due to rising production of automobiles across countries like China and India coupled with rising disposable income among the working professional. On the other hand, North America is anticipated to register slow growth due to the increased lifecycle of vehicles owing to its good maintenance, precise and neat usage.
The auto catalyst market includes key players such as Umicore S.A.; BASF SE; Johnson Matthey; Corning Incorporated; and Faurecia SA. They are constantly engaged in value chain expansion, product development and innovation to gain competitive advantage over other players.
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Further key findings from the report suggest:
• The demand for auto catalysts is continuously increasing across countries like China, Germany, India and Japan.
• In 2016, the LDV-Gasoline segment dominated the global auto catalyst market and it is expected to value USD 6,429.6 Million until 2025.
• Asia Pacific held the largest share of 51.95% across the global market in 2016 and is expected to register 3.6% CAGR during the forecasted years.
• Key players in this market are Umicore S.A.; BASF SE; Johnson Matthey; Corning Incorporated; Faurecia SA; and Tenneco, Inc.
Million Insights has segmented the global auto catalyst market on the basis of application and region:
Auto catalyst Application Outlook (Volume, Thousand Units; Revenue, USD Million; 2014 – 2025)
• LDV – Diesel
• LDV – Gasoline
Auto catalyst Regional Outlook (Volume, Thousand Units; Revenue, USD Million; 2014 – 2025)
• North America
• Asia Pacific
• South Korea
• Middle East & Africa
• Saudi Arabia
• South Africa
• Central & South America
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