The Emission Control catalyst (ECC) market is expected to witness high growth during the forecast period owing to the booming automobile industry and increasing pollution around the globe. ECC are very important among various applications such as mobile, and stationary sources. The ECC market size is estimated at USD 42.9 billion in 2021 and is projected to reach USD 59.8 billion by 2026, at a CAGR of 6.9% during the forecast period.
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Precious group metals (PGMs) such as platinum, palladium, rhodium, and other metal oxides are used as ECCs to limit emissions from vehicles, industrial processing units, marine, and locomotives. These metals oxidize pollutants and convert them into less harmful emissions such as nitrogen and hydrogen. The demand for precious metal grew over a period because of addition of palladium and platinum to manufacture ECCs.
Based on application, the ECC market is segmented into mobile and stationary sources. The mobile sources application segment is projected to dominate the ECC market in terms of value during the forecast period. The mobile sources emit Volatile Organic Compounds (VOC) emissions like alkanes, alkenes, and many more which are very harmful for environment. The governments have implemented strict emissions norms to tackle this situation which have boosted the demand for ECC across the globe. Moreover, the automotive industry is witnessing rising demand for ECC due to the increasing sales of on-road vehicles and the increasing production of passenger cars after the recovery of the automotive sector from the COVID-19 pandemic.
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Based on type, the ECC market is segmented into platinum, palladium, rhodium, and other metals. Palladium dominates the ECC market compared to other PGMs. Palladium-based catalytic converters are highly suitable to meet the stringent emission control regulations. However, platinum, rhodium and other PGMs are also used to manufacture ECC for automotive and industrial applications. Metals such as vanadium and tungsten (others) are used in industrial processing to maintain emission standards. For instance, a three-way catalyst (TWC) comprises palladium or platinum to catalyze oxidation reactions, and rhodium is used as a reduction catalyst for the reduction of NOx.
APAC is the largest market for ECC in 2020 owning to the increasingly stringent emission standards, automobile production, rapidly growing population, pollution, and industrialization. The high demand from the automotive industry in the region will help the ECC market to grow. Strict emission norms in the countries like China, India, and Japan are playing a crucial role in increasing the demand for ECC in APAC. For instance, in 2021, BASF announced the expansion of its mobile emissions catalyst’s facility at Chennai in India to meet domestic demand for automotive catalyst for heavy-duty vehicles in India.
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