COVID-19 market impact analysis anticipates
Negative and Inferior growth for the automotive catalyst market, while 60% of
the market’s growth will originate from APAC during the forecast period,
according to Technavio report Global automotive
catalyst market with COVID-19 analysis.
The rising demand for platinum group metals (PGMs) is one of the key
factors that will drive automotive catalyst market growth. PGMs such as
rhodium, platinum, and palladium are used as automotive catalysts. These metals
are extensively used in automotive components such as airbag initiators, spark
plugs, and antilock braking systems. They help in the reduction of emission of
various hazardous gases such as carbon dioxide, carbon monoxide, and oxides of
nitrogen from vehicles. The increasing stringency of regulations and the rising
production of fuel-efficient and environment-friendly vehicles will drive the
need for platinum group metals to build automotive catalysts owing to the
increasing vehicle production. Furthermore, this industry research report also
presents a competitive analysis of the market by product (palladium, platinum,
rhodium, and others), application (light-duty vehicle and heavy-duty vehicle),
and geography (APAC, Europe, North America, South America, and MEA).
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COVID-19 Impacts
Competitive vendor landscape
The global automotive catalyst market is highly competitive with
major vendors such as BASF SE, CDTi Advanced Materials Inc., Clariant
International Ltd., Corning Inc., Cummins Inc., Ibiden Co. Ltd., Johnson
Matthey Plc, Royal Dutch Shell Plc, Solvay SA, and Umicore., competing based on
price, quality, and market presence.
“Apart from the rising demand for
PGMs, the stringent government regulations is other major factor that will
boost market growth during the forecast period,” says a senior analyst at
Technavio.
Top Five Automotive Catalyst Market Vendors
BASF SE
BASF SE operates its business under various segments such as chemicals,
materials, industrial solutions, surface technologies, nutrition & care,
agricultural solutions, and other. The company offers automotive catalysts that
are also known as precious metals. These precious metals are platinum group
metals used in industrial applications.
CDTi Advanced Materials Inc.
CDTi Advanced Materials Inc. operates its business under a unified
segment. The company offers diesel catalysts and 3-way catalysts that are used
on- and off-road engine applications.
Clariant International Ltd.
Clariant International Ltd. has business operations under various
segments, namely care chemicals, catalysis, and natural resources. The company
offers automotive catalysts under the registered name ENVICAT for air and gas
purification.
Corning Inc.
Corning Inc. operates its business under six segments, which include
display technologies, optical communications, specialty materials,
environmental technologies, life sciences, and all others. The company offers
emission control catalysts for all fuel types as well as small ceramic
catalytic converters for use close to the engine, where it reduces cold-start
emissions.
Cummins Inc.
Cummins Inc. operates its businesses under segments: engine, distribution,
components, power systems, and new power. The company is one of the leaders in
emission control catalysts for light- and heavy-duty vehicles for all fuel
types.
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