The average carbon discharge by a newly manufactured car in 2017 was recorded to be 118.5 grams of CO2 per km. These figures may not be alarming unless the count is multiplied by nearly 95 million motor vehicles manufactured in 2018. The global automotive production is witnessing escalation year on year and agencies such as Environmental Protection Agency and European Commission are adding emission control enforcements to meet the Sustainable Development Goals. As a consequence, the global automotive catalyst market size is gaining profound traction in terms of global demand. Moreover, some developed economies such as Europe have also introduced Real Driving Emission test measures and on-road testing practices. This is further strictly monitoring vehicles emissions and eventually augmenting the application of automotive catalyst by OEMs in automotive emission systems. Platinum group metals (PGMs) such as rhodium, platinum, and palladium are generally employed as automotive catalyst. In between 2017 – 2018 the global export value of these metals observed a phenomenal growth rate of 19%. Hence, a prosperous trade of raw materials is also creating opportunities for the automotive catalyst market companies. The global automotive sector is diversifying in terms of the range of powertrains including gasoline and diesel engines, natural gas, and alternative fuels. This diversification is creating additional automotive catalyst market demand as the market players have an extensive array of potential market to leverage.
The global automotive catalyst market size was evaluated to be $23 billion in 2018. And as the market production is rightfully serving the demand for a resolution to regulate real driving emissions and deliver cost-effective regulatory compliant solutions, it is estimated to be progressing at a CAGR of 4.5% during the forecast period of 2019 – 2025. Some of the most commonly employed catalyst technology are diesel oxidation catalyst, selective catalytic reduction, diesel particulate filter and gasoline particulate filter. Since fossil fuels in the transportation sector is the major contributor of the carbon footprints, majority of the market demand is witnessed from the gasoline and diesel powered automotive OEMs. In 2018 out of 95 million motor vehicles manufactured, global electric car fleet just accounted for 5 million units. Hence the dependency of the global transportation sector on fossil fuels powered vehicles is major automotive catalyst market growth driver.
China with 27.8 million motor vehicle production in 2018 leads the automotive catalyst market:
After an acute analysis of the regional automotive catalyst market, APAC is reckoned to be the most lucrative marketplace. This region with robust attendance of automotive OEMs in India and China, held 53% of the global automotive catalyst market demand share in 2018. Similarly, by vehicle types light duty vehicles is estimated to be the fastest growing application segment. It is to be noted that out of 95.6 million motor vehicles manufactured in 2018, 70.4 million were cars. This fact strongly evinces the dominance of light duty vehicles in the global automotive catalyst market share.
Some facts in support of the APAC’ dominance–
· 30% of small cars sold globally are those manufactured in India. China alone manufactured 27.8 million motor vehicles in 2018 that is approximately 25% of the global production. So nearly 55% of the global light duty vehicles are manufactured in India.
· 5 of the globally top 10 car manufacturing companies are headquartered in APAC. Toyota (Japan) is at 1st, Honda (Japan) at 6th, SAIC Motor (China) at 7th, Nissan (Japan) at 8th and Dongfeng (China) at 10th global ranking.
·APAC countries automotive sector witnessed a tremendous growth rate during 2017 - 2018, with India (+7.98%), Indonesia (+10.31%), and Malaysia (+12.18%).
Automotive Catalyst Market Companies:
Innovation is paramount to survive in this marketplace as the end users only bet on the most efficient technology to restrict emissions. So the automotive catalyst manufacturing companies are constantly innovating their line of products. For instance, BASF SE has launched the latest component FWC™ (Four-Way Conversion) catalyst. As the potential customer base is already exploited by catalyst makers with the ‘three-way’ catalyst, this four-way conversion catalyst is giving BASF a competitive edge as it removes Particulate Matter (PM), along with CO, HC and NOx from the most commonly applied gasoline-engine exhaust.
Some of the other companies with majority of the global automotive catalyst market shares are Clariant AG, BASF SE, Klarius Products Ltd., Johnson Matthey, Ecocat India Pvt. Ltd., Umicore N.V.., Tenneco Inc., Eberspcher Group, CDTi Advanced Materials, Inc., and Cummins Inc.
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