Market Size of Automotive Catalyst Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | -3.96 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Catalysts Market Analysis
The Automotive Catalyst Market size is estimated at 117.75 Thousand ounces in 2024, and is expected to decline to 96.21 Thousand ounces by 2029.
The COVID-19 pandemic negatively impacted the market due to the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, stringent emission standards implemented by governments across the world and an increase in the production of automobiles are the major factors driving the growth of the market studied.
- On the flip side, the rise in the popularity of electric vehicles is hindering the growth of the market.
- However, surge in emphasis of developing nations towards the emission standards is anticipated to provide future growth opportunity to the automotive catalyst market.
- Europe is expected to dominate the market and have the largest market share globally, owing to the adoption of stringent emission standards in the region.
Automotive Catalysts Industry Segmentation
The automotive catalyst is used in vehicle exhaust systems to control the emission of harmful gases into the atmosphere, such as hydrocarbons, carbon oxides, nitrogen oxides, and other particulate matter. It aids in the conversion of hazardous gases into less toxic gases such as nitrogen and carbon dioxide. The market is segmented based on type, vehicle type, and geography. By type, the market is segmented into platinum, palladium, rhodium, and other types. By vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The report offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of volume (ounce) for all the above segments.
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Automotive Catalyst Market Size Summary
The automotive catalyst market is experiencing a dynamic phase influenced by various global factors. Initially impacted by the COVID-19 pandemic, which caused manufacturing shutdowns and supply chain disruptions, the market has shown signs of recovery. The resurgence in demand is primarily driven by stringent emission standards imposed by governments worldwide and an increase in automobile production. However, the growing popularity of electric vehicles poses a challenge to market growth. Despite this, developing nations' focus on emission control presents future opportunities for the automotive catalyst market. Europe is anticipated to lead the market, benefiting from its rigorous emission regulations.
The market's landscape is shaped by the need to mitigate toxic emissions from internal combustion engines, with automotive catalysts playing a crucial role in converting harmful gases into less toxic alternatives. The production of passenger cars is expected to drive demand for automotive catalysts, with significant investments in the automobile sector in countries like India further boosting the market. However, challenges such as semiconductor shortages and geopolitical tensions have impacted vehicle production in regions like the United Kingdom and Europe. Despite these hurdles, the market remains partially fragmented, with key players like BASF SE, Tenneco Inc., and Johnson Matthey continuing to influence its trajectory.
Automotive Catalyst Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increase in Automobile Production
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1.1.2 Stringent Regulations Related to Automotive Emission
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Rise in Popularity of Electric Vehicles
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porters Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Type
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2.1.1 Platinum
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2.1.2 Palladium
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2.1.3 Rhodium
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2.1.4 Other Types
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2.2 Vehicle Type
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2.2.1 Passenger Cars
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2.2.2 Light Commercial Vehicles
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2.2.3 Heavy Commercial Vehicles
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Automotive Catalyst Market Size FAQs
What is the current Automotive Catalyst Market size?
In 2024, the Automotive Catalyst Market size is expected to reach 117.75 thousand ounces.
Who are the key players in Automotive Catalyst Market?
BASF SE , Tenneco Inc. , Johnson Matthey , Klarius Products Ltd and Umicore are the major companies operating in the Automotive Catalyst Market.
