Stringent Regulations for Curbing Greenhouse Gas Emissions Drives Demand for Emission Control Catalysts, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Emission Control Catalysts markets. Global market for Emission Control Catalysts is projected to reach US$8.0 billion by 2018, driven by growing concerns over environmental pollution and legislation of stringent regulatory riders for curbing industrial and vehicular emissions.
San Jose, California (PRWEB) November 18, 2013
Follow us on LinkedIn – Emission control catalysts, the largest segment in the catalysts market, are vital for automobiles and industrial machinery. Rapid industrialization and growing number of vehicle population worldwide are causing serious negative impact on air quality and human health. Emission control catalysts are becoming essential components of vehicles and industrial machinery given their ability to play a vital role in reducing harmful emissions. Introduction of new environmental and vehicular emission regulations across the globe is helping drive the indispensability of emission control catalysts. Stricter air quality standards and higher international commitment to climate control goals is helping drive demand in developing markets such as the United States and Europe. Also, introduction of new legislations in several developing countries to reduce particulate emissions is driving demand for automotive catalysts in Asia-Pacific and Latin America. In the industrial sector, rising demand for electricity and the ensuing establishment of new power plants is generating market opportunities for industrial emission control catalysts. Projected rise in demand for exploration, extraction and transport machinery in the oil & gas sector also bodes well for demand in this market.
Expanding vehicle fleet worldwide as a result of rise in vehicle ownership in developing markets such as China and India has brought a parallel rise in automotive emissions. Combustion of fossil fuel for transportation emits harmful pollutants, which contribute to global warming. With the automotive industry coming under the environmental scanner, automotive manufacturers are focusing on adopting technology solutions that help lower emissions and carbon footprint of their vehicle brands. As a result, most new vehicles manufactured now come with catalytic converters, located between the engine and the exhaust pipe, which cuts down vehicular pollution by converting nearly all of the emissions into less harmful gases through chemical reactions. This incorporation of catalytic converters by auto OEMs provides a continuous revenue stream for emission control catalysts. Especially poised to benefit are catalysts based on platinum group metals including platinum, palladium, and rhodium. The market is also expected to benefit from the growing demand for high-performance autocatalysts.
Dieselization of most automotive markets worldwide as a result of spiraling gasoline prices is helping spur demand for Diesel Oxidation Catalysts. Ever-changing emissions regulations that require diesel engine vehicles to be fitted with systems for reducing particulate matter and NOx and strong demand for commercial vehicles, especially heavy-duty trucks in Asia, will open up newer opportunities for growth.
As stated by the new market research report on Emission Control Catalysts, Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 7.8% over the analysis period. Strong automotive production base in the region is helping drive growth of motor vehicle emission control catalysts.
Key players covered in the report include AeriNox Inc., BASF Catalysts LLC, Clean Diesel Technologies Inc., Clariant International Ltd., Cormetech Inc., Corning Incorporated, DCL International Inc., Johnson Matthey Plc, Rhodia, Inc., Tenneco Inc., Walker Exhaust Systems, and Umicore SA, among others.
The research report titled “Emission Control Catalysts: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US dollars for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East, and Latin America (Brazil and Rest of Latin America). Product markets analyzed in the report include Motor Vehicle Emission Control Catalysts and Industrial Emission Control Catalysts. The global market for Motor Vehicle Emission Control Catalysts is further analyzed by Light Duty Vehicles and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Emission_Control_Catalysts_Market_Report.asp
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.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
For the original version on PRWeb visit: http://www.prweb.com/releases/emission_control_catalyst/autocatalysts_market/prweb11342846.htm