The automotive catalyst market is projected to reach USD 15.73 billion by 2023

The automotive catalyst market is estimated to be USD 12.35 billion in 2018 and is projected to reach USD 15.73 billion by 2023, at a CAGR of 5.0% from 2018 to 2023. This growth can be attributed to the increasing demand for automotive catalysts for use in passenger cars and light commercial vehicles across the globe. In addition, the tightening of global emission standards and increasing stress on fuel efficiency is further anticipated to fuel demand in the automotive catalyst market.

Browse 69 market data Tables and 35 Figures spread through 98 Pages and in-depth TOC on "Automotive Catalyst Market by Type (Platinum, Palladium and Rhodium), Vehicle Type (Light-Duty Vehicles, Heavy-Duty Vehicles), and region (North America, APAC, Europe, South America, and Middle East & Africa) - Global Forecast to 2023"

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Automotive catalysts are used in vehicles, such as light-duty vehicles and heavy-duty vehicles. The light-duty vehicle segment is the largest type application segment of the automotive catalyst market. There has been considerable rise in the fuel economy standards implemented for light-duty vehicles during the past 10 years. This factor has led to greater use of automotive catalysts in this segment.

Based on type, the palladium segment is estimated to account for the largest share of the automotive catalyst market in 2018. Other factors driving the light-duty vehicles segment include the increasing demand for automotive vehicles in emerging economies. The use of palladium as an automotive catalyst has grown in importance in recent years driven by factors, such as increase in automotive sales and growing regulations for emissions.

Major Market Developments

• In December 2017, BASF expanded its mobile emission catalysts production site in?roda?l¹ska, Poland. This expansion increased the manufacturing site by 14,000 square meters and involve the addition of new production lines.

• In September 2016, Umicore increased its manufacturing capacity in the newly commissioned plant in Poland. The introduction of new emission regulations in Europe requires a broader range of ever more technologically advanced products such as selective catalytic reduction (SCR) and advanced three-way catalysts (TWC).

• In June 2018, Clariant expanded its range of Envicat catalyst to incorporate high-performance solution for selective catalytic reduction (SCR). The catalyst comprises of a honeycomb structure block made of a vanadium-based composite which is designed to catalyze NOx reduction reactions.

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The value chain of the automotive catalyst market includes manufacturers, such as BASF(Germany), Johnson Matthey (UK), Umicore (Belgium), Cataler (Japan), Cummins (US), Heraeus (Germany), INTERKAT (Germany), and Tenneco (US).

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