HOME › Press Releases › Emission Control Catalyst (ECC) Market worth 16.09 Billion USD by 2021
Emission Control Catalyst (ECC) Market worth 16.09 Billion USD by 2021
The report "Emission Control Catalyst Market by Type (Palladium, Platinum, Rhodium), Application (Automotive, Industrial and Others), Region - Global Trends & Forecast to 2021", The emission control catalyst (ECC) market is projected to reach USD 16.09 Billion by 2021, growing at a CAGR of 10.37% during the forecast period.
Browse 108 market data tables and 52 figures spread through 161 pages and in-depth TOC on “Emission Control Catalyst Market by Type (Palladium, Platinum, Rhodium), Application (Automotive, Industrial and Others), Region - Global Trends & Forecast to 2021”
Early buyers will receive 10% customization on reports.
This growth is fueled by emission reduction from automobiles and industrial processing units, has been one of the top priorities across the world that has been boosting the emission control catalyst market and increasing number of new product launches and agreements & joint ventures.
Platinum based emission control catalyst: The fastest-growing material type in the ECC market
Platinum is the most active catalyst and a widely used precious metal in catalytic converters in gasoline engines. It is used as both a reduction and an oxidation catalyst. The consumption of platinum from the auto catalyst sector is responsible for over a third of the total platinum demand. Platinum is predominantly used in diesel vehicles since it acts as both an oxidation and a reduction agent to lower sulphur emissions. Europe has the largest market for diesel vehicles and therefore, the demand for platinum-based emission control catalysts has been high in this region.
Automotive: The largest application market for ECC
The automotive industry is the largest market for precious metal-based emission control catalysts and accounts for the largest part of the total emission control catalyst market size in terms of value. The demand for platinum group metals is projected to grow at a fast rate in the automotive industry as these resources are mainly used in catalytic converters for heavy duty and light duty vehicles and also in the marine and locomotive industry. The most popular and efficient catalytic technology used earlier for automobiles was oxidation catalysis which has now been replaced by much more efficient three-way catalytic converter technology.
Europe: The largest regional market for ECC
The emission control catalyst market in Europe is estimated to witness a growth in demand in the near future due to implementation of stringent emission control standards for all major end-user industries of emission control catalysts. The rising concern over environmental pollution has been giving rise to stringent emission regulations and is encouraging the car manufacturers to use technologically advanced catalyst converters with precious metals as catalysts. Johnson Matthey, BASF Catalyst, and Umicore have been the key companies providing advance emission control catalysts in this region.
Major players such as BASF Catalysts LLC (U.S.), Johnson Matthey (U.K.), Solvay S.A. (Belgium), Umicore SA (Belgium), Corning Incorporated (U.S.), and Clariant Corporation (Switzerland) have adopted development strategies such as expansions, agreements & collaborations, and new product development to achieve growth in the global ECC market.
This report covers the ECC market, in terms of value and volume, and forecasts the market size till 2021. It segments the market by type, application industry, and region. It also provides company profiles and details the competitive strategies adopted by major players in the global ECC market.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India