Global Automotive Catalyst Market Projected To Register CAGR Of 4.3% Between 2018-2022

Date: 2018-04-26

An Automotive Catalyst is used in catalytic converters in vehicles of circular or elliptical cross section made from ceramic or metal formed into a fine honeycomb and coated with a solution of chemicals and platinum group metals. It is mounted inside a stainless steel canister (the whole assembly is called a catalytic converter) and is installed in the exhaust line of the vehicle between the engine and the silencer (muffler).

The key drivers contributing to this market growth are the increasing global demand for automotive, and an increasing number of stringent regulations are coming into effect that fuel demand for the Automotive Catalyst, worldwide traditional automobile production exceed 93 million in 2017, and 95 million traditional automobiles expected be produced in 2018; according to research, the global Automotive Catalyst market is projected to register CAGR of 4.3% between 2018 and 2022.

Geographically, the Asia Pacific is expecting to grow at highest CAGR over the forecast period as their they are the largest production region and demand region in terms of volume by 2017, region followed by US, which is projected to register CAGR of 4.9% over 2018-2022.

Base on type, catalytic converters require temperature of 800 degrees Fahrenheit (426 °C) to efficiently convert harmful exhaust gases into inert gases, such as carbon dioxide and water vapor. Automotive Catalyst mainly can be split into Two-way, Three-way. Two-way of catalytic converter is widely used on diesel engines to reduce hydrocarbon and carbon monoxide emissions. Three-way catalytic converters (TWC) have the additional advantage of controlling the emission of nitric oxide (NO) and nitrogen dioxide (NO2) (both together abbreviated with NOx and not to be confused with nitrous oxide (N2O)), which are precursors to acid rain and smog

The global leading companies in Automotive Catalyst market are BASF SE, Johnson Matthey, Solvay, Umicore, Corning Incorporated, Cataler Corporation, DCL International, Heraeus Holding GmbH, Tenneco Inc, Faurecia S.A, Klarius Products Limited, and Taizhou Three-Way Vehicle Catalytic Converter Co., Ltd among others.

Global Automotive Catalyst market share by region as following:

Read Full Report: http://www.gosreports.com/global-automotive-catalyst-market-research-report-2017/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 510-400-8520
Web: www.gosreports.com
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