Global Auto Catalyst Market Report and Forecast 2024-2032

Auto Catalyst Market Size

The global auto catalyst market size attained a value of approximately USD 15.26 billion in 2023. The market is further expected to grow at a CAGR of 3.7% during the forecast period of 2024-2032, reaching around USD 21.24 billion by 2032.

Heavy-duty vehicles (HDVs) such as urban buses and cargo trucks are responsible for releasing harmful gases like nitrogen oxide, hydrocarbon, and particulate matter. The increasing demand for HDVs to sustain transportation operations across industries such as military, aviation, public transportation, logistics, and towing are anticipated to increase the demand or autocatalysts in the coming years. Advancements in technology for auto catalysts are expected to surge the production of advanced automotive catalysts that can effectively screen various contaminants, leading to an expansion of the auto catalyst market share. The growing innovations by prominent automotive manufacturers aimed towards producing cheaper auto catalysts to reduce the emission of diesel engine cars are further supporting the market growth for auto catalysts.

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Auto Catalyst Market Growth

The market for auto catalysts is being significantly driven by the rising levels of pollution caused by the burning of fuel from vehicles such as cars, buses, scooters, and trucks, among others. Vehicle exhaust contains a variety of harmful elements, including carbon monoxide, nitrogen oxides, hydrocarbons, and particulates. All of these gases directly impact human health as well as contribute to the degradation of the environment.

These can be controlled by an auto catalyst, which is capable of converting nearly 90% of these harmful gases from gasoline engines into less harmful carbon dioxide and water vapour. In addition, regulations of various governments mandating the inclusion of auto catalysts in motor vehicles is also positively influencing the automotive catalyst market growth globally.

Auto Catalyst Market Segmentation

An auto catalyst is a cylinder of circular elliptical cross-sections made by transforming ceramics or metals into a fine honeycomb structure and coating it with a solution of rhodium, platinum, and palladium. Generally installed in the exhaust system of vehicles, an auto catalyst helps transform toxic gases into harmless elements before releasing it into the environment.

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On the basis of application, the market is divided into:

• LDV-Diesel

• LDV-Gasoline

• HDV

The EMR report looks into the regional markets of auto catalysts like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

The Surging Demand for Personal Vehicles to Boost the Market Growth of Auto Catalysts

The rapidly growing demand for personal vehicles owing to the innovation in technology and the rising purchasing power of people is projected to have a positive influence over the auto catalyst market growth in the coming years. The market for automotive catalysts is witnessing a surge owing to the increasing popularity of customisable vehicles to attain enhanced personalised experiences. The rising prevalence of diseases, such as asthma, bronchitis, and skin allergies, among others, owing to the poor air quality caused by the harmful emissions of gasoline vehicles, is further expected to compel automobile manufacturers to incorporate auto catalysts, which is in turn expected to add to the auto catalyst market revenue. Moreover, owing to rising environmental concerns, investments into new technologies to improve the functions of auto catalysts that would aid in sustainable manufacturing, are likely to support the market growth over the forecast period.

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Key Players in the Global Auto Catalyst Industry

The report presents a detailed analysis of the following key players in the global auto catalyst market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions:

• BASF SE

• Umicore S.A.

• Haldor Topsoe A/S

• Cataler Corporation

• Johnson Matthey

• Corning Incorporated

• Clariant Corporation

• Tenneco Inc.

• Topsoe A/S

• CDTi Advanced Materials Inc

• Cummins Inc.

• Others

The comprehensive report looks at the micro and macro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

Key Highlights of the Report