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.
Browse 69 market data Tables and 35 Figures spread through 98 Pages and in-depth TOC on "Automotive Catalyst Market”.

Active Players in the automotive catalyst Market
Umicore (Belgium), one of the key players in the automotive catalyst market, develops automotive emission systems for light-duty and heavy-duty vehicles. The catalysts are used in a wide range of powertrains, including gasoline and diesel engines, natural gas, and alternative fuels, and are increasingly critical in engines supporting mild and full hybrid vehicles. The company operates through the Energy & Surface Technologies, Recycling, and Catalysis divisions. In June 2017, the company took over the heavy-duty diesel businesses of Haldor Topsoe.

This acquisition aided the company to tap into to the customer base in Europe and China as well as acquire the emission control technology for heavy duty diesel applications. In March 2017, the company acquired ORDEG based in South Korea, which was a joint venture between Samkwang Glass and OCI Company. This acquisition is expected to help meet the needs of Korean catalyst customers. In January 2017, the company opened a plant in Thailand for emission control catalysts in Thailand. The expansion aided the company to meet the unmet needs of the fast-growing market of Southeast Asia.

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BASF is one of the world’s largest chemical companies operating in business segments, namely, chemicals, functional materials & solutions, oil & gas, performance products, and agricultural solutions. The company also has other businesses, such as fertilizers, the sale of raw materials, engineering & other services, and rental income & leases. The company has a strong presence in the automotive catalyst market, with a diversified product portfolio and a vast consumer base. In December 2017, the company expanded its mobile emission catalyst production site in Ṥroda Ṥl¹ska, Poland. This expansion added 14,000 square meters to the manufacturing site and resulted in the addition of new production lines.

The light-duty vehicle segment is projected to grow at the highest CAGR in the automotive catalyst market
Based on vehicle type, the light-duty vehicle segment of the automotive catalyst market is projected to grow at the highest CAGR during the forecast period. Passenger cars lead automotive production across the globe. The increasing use of automotive catalysts in passenger cars is expected to result in higher demand during the forecast period. In recent years, automotive manufacturers have been focusing on enhancing the overall fuel efficiency of vehicles, which, in turn, has created the high demand for automotive catalysts.

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Palladium segment is estimated to account for the largest share of the automotive catalyst market in 2018
Based on type, the palladium segment is estimated to account for the largest share of the automotive catalyst market in 2018. Palladium is used as an oxidation catalyst. Palladium’s use as a catalyst has grown in importance in recent years driven by factors, such as increase in automotive sales and growing regulations on emissions. It is more widely used in gasoline-based engines than in diesel engines. As palladium is less expensive than platinum, its usage is projected to increase gradually in the automotive catalyst market during the forecast period.

APAC is the largest market for automotive catalysts
The APAC region is estimated to be the largest market for automotive catalysts, in terms of volume, in 2018. China is a key consumer of automotive catalysts in the APAC region. The increasing use of automotive catalysts in passenger vehicles in the region is contributing to the growth of the automotive catalyst market. New product launches & developments and expansions are the key growth strategies adopted by the leading manufacturers of automotive catalysts in the APAC region.

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