Summary
Global Emission Control Catalysts Market-Segmented by Metal , Application , End-user Industry and Geography-Trends and Forecasts ( 2017-2022 ). The market has also been geographically segmented into Asia-Pacific , North America , Europe , South America and the Rest of the World . In terms of consumption in 2015 .
Description
The global emission control catalysts market was estimated to be worth USD XX . XX billion in 2015 ; this market is projected to reach USD XX . XX billion by 2020 , at an estimated CAGR of 10.46 % during the forecast period ( 2017 - 2022 ). Emission control catalysts are substances that aid in reducing particulate matter , hydrocarbons , nitrogen oxides and other emissions from the power plants , automobiles and other such sources . Precious metals such as platinum , palladium , rhodium and vanadium are used as catalysts for coating ceramic beads in catalytic converters ( used in automobiles and industrial processing units ).
The emission control catalysts market can be segmented by applications into mobile emission control and stationary emission control catalysts . Stationary emission control catalysts are used in stationary sources of emissions such as power plants , whereas , mobile emission control catalysts are used majorly in mobile applications such as automobiles , marine and aircrafts .
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This market is driven by a number of factors , such as the increasing penetration of diesel engine vehicles in the Asia-Pacific region , enactment of stringent emission norms to reduce or minimize harmful emissions and an increase in the average age of the vehicles . However , this market faces certain drawbacks , such as the increasing penetration of battery electric vehicles and limited reserves of precious metals such as platinum . The aforementioned factors may act as restraints to the growth of the market .
The global emission control catalysts market can be segmented by the type of metal used , into platinum , palladium , rhodium and others ( vanadium and tungsten ). In addition , by end-user industry , the market can be segmented into industrial , automotive and others . The market has also been geographically segmented into Asia-Pacific , North America , Europe , South America and the Rest of the World . In terms of consumption in 2015 , Asia-Pacific led the market with a share of XX . XX %. Consistent improvement in economic conditions in Asia-Pacific countries , particularly , in India and China , has led to an improvement in the financial status of consumers , which , in turn , has boosted the demand for and the production of automobiles . In addition , an increase in the average life span of the vehicles in operation and the increasing demand for and usage of light commercial vehicles ( diesel engine vehicles ) in China and India , are also expected to propel the growth of the emission control catalysts market in the Asia-Pacific region .
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