NEW YORK, Sept. 28, 2023 /PRNewswire/ — The Automotive Catalyst Market is estimated to grow by USD 2.47 billion, accelerating at a CAGR of over 3.3%, during the forecast period. The automotive catalyst market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive catalyst market are BASF SE, CDTi Advanced Materials Inc., Clariant International Ltd., Corning Inc., Cummins Inc., Heraeus Holding GmbH, INTERKAT Catalyst GmbH, Johnson Matthey Plc, Norman G. Clark A Asia Pty Ltd., Northam Platinum Ltd., PJSC MMC Norilsk Nickel, Shell plc, Sinocat Environmental Technology Co. Ltd., Solvay SA, Stella Chemifa Corp., Tenneco Inc., Topsoes AS, Toyota Motor Corp., Umicore SA, and Vikas Group. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
Technavio has announced its latest market research report titled Global Automotive Catalyst Market 2023-2027
Automotive Catalyst Market 2023 – 2027: Company Offering:
Umicore SA: The company offers automotive catalyst products such as Umicore Grubbs Catalysts and three-way catalysts, which include applications such as light duty gasoline, hybrid electric, alternative fuels and light duty diesel, motorcycles and small engines.
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Automotive Catalyst Market 2023 – 2027: Market Dynamics:
Impactful driver- Increasing vehicle production: The primary catalyst for market growth is the rising production of vehicles. The worldwide automotive segment is expected to see steady expansion during the forecast period. An increasing need exists for autocatalysts that transform harmful pollutants like nitrogen oxides into environmentally benign gases before they are discharged. Platinum, palladium, and rhodium stand as the most crucial autocatalytic components.
Key Trend – Recycling automotive catalysts is the primary trend in the market.
Major Challenges – Increasing demand for electric vehicles is a challenge that affects the growth of the market.
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Automotive Catalyst Market 2023 – 2027: Segmentation:
By Application
Light-duty vehicle
heavy-duty vehicle
By Product
Palladium
Platinum
Rhodium
Ruthenium
Others
Geography
APAC
Europe
North America
South America
Middle East and Africa
Technavio anticipates that there will be substantial growth in the light-duty vehicle segment. This category encompasses a range of vehicles, including passenger cars, light commercial vehicles, two-wheelers, and three-wheelers. The Clean Air Act is set to introduce more stringent and universally applicable regulations concerning emissions from light commercial vehicles.
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FAQS
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Emission Control Catalysts Market: The Global Emission Control Catalysts Market size is estimated to grow by USD 4,240.52 million accelerating at a CAGR of 6.25% between 2023 and 2027.
Refining Catalyst Market: The refining catalyst market size is estimated to grow at a CAGR of 4% between 2022 and 2027. The market size is forecast to increase by USD 1,413.02 million.
TOC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Size
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Product
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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