Market World Emission Control Catalyst Market | Page 2

High dependence on temperature fluctuation for the product performance is expected to pose a challenge to
the market growth over the forecast period.
Volatility in platinum based catalyst prices owing to unavailability of noble metals is anticipated to hinder
industry expansion over the upcoming years. Increasing investments in platinum-rhodium-palladium based
manufacturing facilities by key players including BASF and Johnson Matthey will open new market avenues over
the upcoming years.
Application Insights
Automotive was the dominant segment and accounted for 83.5% of the total volume in 2015. National Ambient
Air Quality Standard in the U.S. and Bharat Stage Emission standard in India regarding emission control will
increase demand for automotive and industrial emission control catalytic converter in the near future.
Industrial application is expected to show high gains at a CAGR of 4.7% in terms of volume from 2016 to
2024.Increasing industrial investment in manufacturing sector in various countries including India, China,
Mexico and Thailand will augment industry size over the forecast period.
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Product Insights
Rhodium based catalyst demand was 828.2 kilo tons in 2015. Demand for the product is expected to spur over
the upcoming coming eight years owing to its ability to remove nitrous oxide from exhaust emission by three
way catalytic converters in automotive engines. High cost of Rhodium as compared to other emission control
catalyst is expected to lower its growth over the next eight years.
Palladium is expected to show tremendous rise at a CAGR of 4.7%from 2016 to 2024. Palladium based products
are growing significantly on account of its availability at low price and easy blending characteristics with
platinum and rhodium.
Platinum based catalyst accounted for 32.2% of total overall volume in 2015 and is anticipated to witness growth
on account of its high usage in catalytic converter of gasoline engines. Platinum is prominently used in diesel
vehicle as it is having duel characteristic of oxidation and reducing agent which in turn lowers Sulphur emission.
High price of platinum and its sensitivity towards high temperature is expected to have adverse impact on its
market demand.