Global Market For Emission Control Catalysts To Reach US$7.7B By 2017, According To A New Report By Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Emission Control Catalysts market. The world market for emission control catalysts is projected to reach US$7.7 billion by the year 2017, propelled by stringent emission control standards being enacted in both developed and developing nations. The environmental standards are expected to continue impacting the market in a major way in various parts of the world over the coming years. Several international initiatives and agreements aimed at lowering emissions, especially in emerging markets are expected to propel future growth for the emission control catalysts market.
San Jose, CA (PRWEB) - Follow us on LinkedIn – Environmental regulations are playing a key role in the development of the global emission control catalysts market. Automotive catalyst market is widely affected by regulations providing incentives for investments in developing and utilizing innovative technologies. The United States, the single largest global manufacturer of automobiles, marked itself with consistent emissions standards. The regulations which include The Clean Air Act, California’s ultra-LEV (Low-Emissions Vehicle) standard and others, favor the use of more catalysts per vehicle. Heavy-Duty Diesel (HDD) catalysts represent the next big opportunity for emission control catalyst manufacturers in the US. Western Europe followed suit with its own set of standards such as Euro 4 and the latest Euro 5. Euro standards for emission control represent the most popular set of standards and are followed by several countries in various parts of the world. Majority of the emerging economies are adopting latest set of Euro emission and fuel standards, while some smaller nations still comply with older set of regulations. The latest Euro 5 regulations are more likely to decrease the particulate emission by 80% from diesel automotives as compared to Euro 4 standards. Following the developments in west, Asia also sustained its emissions standards, thereby strengthening the same in several countries including Japan, South Korea and Taiwan. Manufacturers of automotive catalysts are finding growth prospects in markets of Asia-Pacific, Middle East and Latin America owing to the implementation of new stringent emission standards in these regions.
The production and consumption of emission control catalysts currently is in an unbalanced state with production and technology concentrated in the Western countries and consumption in the developing nations in Asia and Middle East. Owing to this imbalance high level consolidation is taking place in the global market currently. Number of joint ventures and acquisitions increased, over time, and this in turn is increasing the standards of local production and enhancing technological developments in the developing countries. Buoyed by the burgeoning automotive markets in Asian countries, particularly China, India and Thailand, environmental catalyst majors are shifting their focus to the lucrative Asian domains.
Emission control catalyst market in developed markets of Europe and United States has been registering robust growth over the past few years. Western Europe in particular, firmly positions itself as the largest market worldwide, as stated by the new market research report on Emission Control Catalysts. Several industries in Europe are increasingly using catalysts due to the legislative emphasis on emission control for the reduction of hydrocarbons, nitrogen oxides, and other harmful substances from industrial plants and automobile exhausts into the environment. Developing markets such as Asia-Pacific, trailed closely by Latin America are poised to demonstrate strong compounded annual growth rate (CAGR) between 8%-9% over the analysis period. These regions would experience robust growth in coming years in the midst of economic development and growing environmental concerns. Growth in these regions would also result from continued increase in the number of new motor vehicles registered. Another driving factor includes growing number of countries, which are following the developed countries’ lead in adopting increasingly more stringent motor vehicle emission control programs.
Automobile industry is one of the largest end-users of catalysts. Hence the growth of catalyst market is inextricably linked with fortunes of automobile industry. The Motor Vehicle Emission Control Catalysts category constitutes the largest product segment within emission control catalysts market. Manufacturers of automotive catalysts find growth opportunities in regions such as Asia-Pacific, Middle East and Latin America, owing to the implementation of new stringent emission standards. Increase in automobile production in emerging economies such as Latin America, China and South East Asia has favorably affected demand for global emission control catalysts. The Industrial Emission Control Catalysts category represents the fastest growing product market, spurred by increasing demand from industrial and power generation plants. Companies are increasingly expanding their focus on the reduction of NOx emissions from power generation plants. NOx emissions are a major environmental concern, particularly because of acid rain and global warming issues.
Major players profiled in the report include BASF Catalysts LLC, Catalytic Solutions, Inc., Corning Incorporated, DCL International, Inc., Johnson Matthey Plc, OM Group, Inc., Rhodia, Inc., Sud-Chemie AG, Tenneco Inc., and Umicore SA.
The research report titled “Emission Control Catalysts: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the industry, impact of recession on the markets, current market trends, competitive scenario, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche market participants. The report provides annual sales estimates and projections for the years 2009 through 2017 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key product segments analyzed include Motor Vehicle Emission Control Catalysts, and Industrial Emission Control Catalysts. The study also provides historic data for an insight into market evolution over the period 2003-2008.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.