Automotive Catalyst Market Value and Growth:
The Global Automotive Catalyst Market size was around USD 12.37 Billion by revenue, at the end of 2020. It is anticipated to grow at a CAGR of 5.18 % to reach close to USD 15.92 Billion by the end of 2025.
Automotive Catalyst Market Overview:
The Automotive Catalyst market is a fast-growing global market that is calculated to reach a total of USD 15.92 billion by the end of the forecast period. The rapid growth in the automotive industry is the main cause for the growth and survival of the automotive catalyst market. This ensures the long term stable, possibly escalating growth of the automotive catalyst market.
Automotive Catalyst Market Recent Developments:
Umicore, a leading participant of the global automobile catalyst market has reportedly achieved its target for 2020 already in 2018. The company has reported having an upward slope in the coming two years to advance in the leading global markets.
Automotive Catalyst Market Drivers and Restraints:
The global automotive catalyst market is, in a way, an important subsidiary market to the automotive market. The growth of the automotive industry automatically drives the global automotive catalyst market in the aforementioned forecast period. The increase in the concern for fuel economy has resulted in the developments of light-duty vehicles with higher mileage, which has extensive use of the catalyst such as palladium in them. However, the global concentration of the automotive catalyst market is considered a major restraint to the global expansion of the market. Also, the cost consideration of the catalyst, although used in small quantities is a concern to the growth of the global automotive catalyst market. And the competition from the emerging electric vehicle industry poses a serious and possibly the worst restraint to the global market for automotive catalysts.
Automotive Catalyst Market Segmentation Analysis:
Based on the type of catalyst the Global Automotive Catalyst market is segmented into Platinum, Palladium, Rhodium, and Others. Among the mentioned types of catalysts, the palladium segment is calculated to have the largest percentage of the global automotive catalysts market value in the forecast period. The increase in the automotive industry sales fueled by the regulations over the emissions from these vehicles is another reason for the growth of the palladium segments of the global market in the automotive catalyst.
By Vehicle Type
Based on the type of vehicle the global market for automobile catalysts is segmented into Light-Duty vehicles and Heavy-Duty Vehicles. The light-duty vehicle is going to witness the fastest growth in the automotive catalyst market. The considerable hike in the fuel economy standards implemented on the light-duty vehicles is the major reason for the increase in the production of light-duty vehicles over heavy-duty vehicles, hence the increased use of automotive catalysts in this segment. The emerging middle-class economy is another reason for the increase in demand for light-duty vehicles.
Automotive Catalyst Market Geographical Analysis:
By geography, the Automotive Catalyst Market is segmented as Latin America, Europe, Asia Pacific, Middle-East & Africa, and North America. The Asia Pacific region had the largest market size in the global market for Automotive Catalyst in the year 2018 due to the advantage of the large customer base in this region. The Asia Pacific region is expected to be the fast-growing region with the highest CAGR, over other regions, in the global market for Automotive Catalyst during 2018 to 2023, due to the increasing demand from growing industries and scope of future opportunities, mainly in developing countries like Japan, China, and India. Europe was next in the lead in the global market for Automotive Catalyst in 2019 followed by North America and is anticipated to maintain the same pace in market growth by 2024.
The low CAGR in the North American and European regions is mainly due to the regional dominance of Asia Pacific attributed to its cheap labor and resource availability, which results in the concentration of global in the Asia Pacific. The Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the Automotive Catalyst Market in these regions is slow-growing in nature.
Automotive Catalyst Market Key Market Players:
By the end of 2018 Symrise (Germany), BASF (Germany), Eberspacher (Germany), Johnson Matthey (UK), Umicore (Belgium), Cataler (Japan), Klarius Products Ltd. (UK), Cummins (US), Heraeus (Germany), Clariant (Switzerland), INTERKAT (Germany), Sinocat (China), N.E. Chemcat (Japan), CDTi Advanced Materials (US), Tenneco (US), Ecocat India Pvt. Ltd. (India), and IBIDEN (Japan) are the leading shareholders of the Global Automotive Catalyst Market. There is a constant competition between these companies based on the pricing and quality of the product. The companies are currently focused on expand into new markets to increase their customer base and strengthen their market position.
Automotive Catalyst Market Research Report Key Highlights:
The evaluation of the current product and services market and the future implications of the market.
Address the matter by better understanding the market through size estimates and CAGR analysis to forecast the future market.
Wider segmentation to better understand the dynamics of the market at a very small level by dividing the market into smaller segments.
Address the key market challenges, drivers and restraints with the goal of providing insights for gaining market share.
Porter’s Five Forces are used to analyze the factors responsible for the shaping of the industry as it is as a result of the competitive environment.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.6 Y-o-Y Growth Analysis, By Type
5.1.7 Market Attractiveness Analysis, By Type
5.1.8 Market Share Analysis, By Type
5.2 Vehicle Type
5.2.2 Light-Duty Vehicles
5.2.3 Heavy-Duty Vehicles
5.2.4 Y-o-Y Growth Analysis, By Vehicle Type
5.2.5 Market Attractiveness Analysis, By Vehicle Type
5.2.6 Market Share Analysis, By Vehicle Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Vehicle Type
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Vehicle Type
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Vehicle Type
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.4 Johnson Matthey
8.7 Klarius Products Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, Collaborations, and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures