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Global Automotive Catalytic Converter Market is expected to foresee significant growth. Asia-Pacific to witness highest growth!

Global Automotive Catalytic Converter Market is expected to grow at a CAGR of around 6.1% during the forecast period 2021-2027. The Automotive Catalytic Converter Market generated revenue of US$ 11.9 million in 2020. The COVID-19 epidemic had a significant impact on the market, resulting in fewer new passenger and commercial cars being sold around the world. Even aftermarket sales of catalytic converters did not make for excellent business in 2020 due to various constraints. The market, on the other hand, anticipates a return to normal economic conditions following the pandemic, given the expected increase in preference for individual mobility. Growth of the global automotive market, changing government regulations, increasing population awareness of the environment, strategic developments by market players such as partnerships and agreements, favorable catalytic converter research funding scenario, and technology development pressure on manufacturers are all driving factors in the global market.

Governments and regulatory agencies, such as the United States Environmental Protection Agency, are enacting stringent emission norms to control and reduce carbon emissions, particularly in the automotive industry, in response to consistently rising global emission levels and growing health concerns. A catalytic converter aids in the reduction of emissions and allows manufacturers to adhere to international requirements. Because the demand for automobiles is likely to continue to rise in the next years, the need for car catalytic converters is expected to rise as well.

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Based on type, the market is segmented into two-way catalytic, three-way catalytic and others. The three-way catalytic are mainly used in vehicle emission control system across the world. The three-way catalytic is expected to dominate the market over the forecasted period. It has been used in emission control system in North America and other countries since 1981. Based on material type, the market is segmented into platinum, palladium, and rhodium. Rhodium is a popular material for recycling vehicle catalytic converters because it is more effective at removing dangerous exhaust emissions by breaking down nitrogen oxides in exhaust gases and releasing harmless oxygen and nitrogen gases. Based on vehicle type the market is segmented into passenger car and commercial vehicle. Because of the higher number of sales and manufacturing of passenger automobiles around the world, the passenger car category has the biggest market share.

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For a better understanding of the market adoption of Automotive Catalytic Converter, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. Asia Pacific dominated the market in 2020. In March 2020, Vitesco Technologies, a branch of Continental’s Powertrain business, announced a contract with a large European manufacturer to deliver electric heating components for diesel catalytic converters. With a 40% reduction in NOX emissions and a 3% reduction in CO2 emissions, the company proved great efficiency with its solutions for diesel engine vehicles. Some of the major players operating in the market includes Faurecia SA, BASF Catalysts LLC, Magneti Marelli S.P.A Tofurky, Tenneco Inc., Eberspaecher GmbH Holding & Co., Benteler International AG, Calsonic Kansei Corporation, Futaba Industrial Co. Ltd, BOSAL GROUP, Standard Motor Products Europe Ltd. etc.

Global Automotive Catalytic Converter Market Segmentation

Market Insight, by Type

  • Two-way Catalytic Converter
  • Three-way Catalytic Converter
  • Other Types

Market Insight, by Material

  • Platinum
  • Palladium
  • Rhodium

Market Insight, by Vehicle

  • Passenger Cars
  • Commercial Vehicles

Market Insight, by Region

  • North America Plant-based Meat Market
    • United States
    • Canada
    • Rest of North America
  • Europe Plant-based Meat Market
    • Germany
    • France
    • United Kingdom
    • Spain
    • Rest of Europe
  • Asia Pacific Plant-based Meat Market
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World Plant-based Meat Market

Top Company Profiles

  • Faurecia SA
  • BASF Catalysts LLC
  • Magneti Marelli S.P.A Tofurky
  • Tenneco Inc.
  • Eberspaecher GmbH Holding & Co.
  • Benteler International AG
  • Calsonic Kansei Corporation
  • Futaba Industrial Co. Ltd
  • BOSAL GROUP
  • Standard Motor Products Europe Ltd.

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