Catalytic Converter Market Is Expected To Grasp The Value Of USD 245.7 Billion By 2028: Upcoming Trends, Size, Share, Growth, Prominent Players And Revenue Outlook

Market Overview:
Global Catalytic Converter Market was valued at USD 142.4 billion in 2021 and is expected to reach USD 245.7 billion by the year 2028, at a CAGR of 8.10%.

The catalytic converter is a device embodied in the exhaust system of a motor vehicle, containing a catalyst for converting pollutant gases into less harmful ones. It reduces the number of harmful pollutants by taking these gases and converting them into water vapor. The petrol cars manufactured since 1993 must have a catalytic converter to the exhaust. The catalytic converter uses a redox reaction to reduce the pollution that car makes and it converts 98% of harmful gases to less harmful gases.

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Market Dynamics:
Driver:
The stringent emission and fuel efficiency regulations around the world fuel the demand for the catalytic converter. The exhausted harmful gasses from automobile becomes the major contributor to air pollution, which is also harmful to the environment. This can have a bad impact on human beings too. The increasing population has also resulted in increased production and the number of vehicles in the market. So, these factors are driving the growth of catalytic converters in the market. Catalytic Converters are more significant to reduce these harmful gases.

Opportunities:
The Rhodium-based catalytic converter will have a vast number of opportunities in the future. Rhodium is a very special metal. It is considered the rarest and most valuable precious metal in the world. Its main use is in catalytic converters of automobiles, where it reduces the number of nitrogen oxide (NOx) exhaust gases emitted into the atmosphere. The rhodium-based catalytic converter also improves the efficiency of the car, by directly affecting its overall health and performance. They have a longer lifespan and need less amount of rare materials to work. Hence, the Rhodium demand is expected to grow in the future.

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Market Segmentation
By Type
• Three-Way Oxidation-Reduction Catalytic Converter
• Two-Way Oxidation Catalytic Converter
• Diesel Oxidation Catalyst

By Material
• Palladium
• Rhodium
• Platinum
• Others

By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)

Others Regional Analysis of Catalytic Converter Market:
Asia-Pacific region is anticipated to dominate the region owing to the huge number of individuals purchasing automobiles in countries such as India, and China. The rising disposable income and the growth in the infrastructure development of roadways are promoting the growth of the Catalytic Converter Market in this region.

Europe region is forecasted to have the second-highest share in Catalytic Converter Market. The increasing number of automobile purchasers and supportive government policies is promoting the growth of the Catalytic Converter Market in this region. The growing research and development to enhance automotive development are further promoting market growth.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Catalytic Converter Market are:
• BASF SE (Germany)
• CDTi Advanced Materials Inc. (U. S)
• Continental AG (Germany)
• Eberspächer (Germany)
• Faurecia (France)
• BOSAL (Belgium)
• Yutaka Giken Company Limited (Japan)
• Sejong Industrial Co. Ltd (Korea)
• Marelli Europe S.p.A (Italy)
• Sango Co. Ltd (Japan)
• Tenneco Inc (U. S) and other major players.

Key Industry Development in Catalytic Converter Market
In September 2021, BASF has announced it has acquired expanded Zodiac Enterprises LLC in Caldwell, Texas. With this acquisition, BASF has expanded its chemical catalyst recycling capacity and capability. This acquisition will also enhance BASF's smelting capacity in North America. Moreover, this manufacturing plant will help in recycling precious metals which are used as chemical catalysts in the catalytic converter.

In February 2020, Walker Emissions Control, a leading global manufacturer from DRiV, declared new replacement catalytic converter and muffler product offerings for 16 million vehicles in function in North America. Each Ultra direct-fit converter aids in checking engine light off for emissions codes further, enhances engine performance with OE-style high-technology washcoat and optimal precious metal load, delivering the required decrease in tailpipe emissions to match vehicle utilization.

Key questions answered in the report include:
1. What should the entrance strategy, economic impact assessment, growth measures, and marketing channels be?
2. What are industry trends?
3. What are the difficulties and opportunities?
4. What is the present market situation?
5. What is the market competitiveness in this business, both business and country-wide?

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Table Of Content
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities By Segment
 3.1 By Type
 3.2 By Material
 3.3 By Vehicle Type

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Catalytic Converter Market by Type
 5.1 Catalytic Converter Market Overview Snapshot and Growth Engine
 5.2 Catalytic Converter Market Overview
 5.3 Three-Way Oxidation-Reduction Catalytic Converter
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Three-Way Oxidation-Reduction Catalytic Converter: Geographic Segmentation
 5.4 Two-Way Oxidation Catalytic Converter
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Two-Way Oxidation Catalytic Converter: Geographic Segmentation
 5.5 Diesel Oxidation Catalyst
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size (2016-2028F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Diesel Oxidation Catalyst: Geographic Segmentation

Chapter 6: Catalytic Converter Market by Material
 6.1 Catalytic Converter Market Overview Snapshot and Growth Engine
 6.2 Catalytic Converter Market Overview
 6.3 Palladium
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Palladium: Geographic Segmentation
 6.4 Rhodium
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Rhodium: Geographic Segmentation
 6.5 Platinum
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size (2016-2028F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Platinum: Geographic Segmentation
 6.6 Others
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size (2016-2028F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Others: Geographic Segmentation

Chapter 7: Catalytic Converter Market by Vehicle Type
 7.1 Catalytic Converter Market Overview Snapshot and Growth Engine
 7.2 Catalytic Converter Market Overview
 7.3 Passenger Cars
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Passenger Cars: Geographic Segmentation
 7.4 Light Commercial Vehicles (LCV)
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Light Commercial Vehicles (LCV): Geographic Segmentation
 7.5 Heavy Commercial Vehicles (HCV)
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size (2016-2028F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Heavy Commercial Vehicles (HCV): Geographic Segmentation
 7.6 Others
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size (2016-2028F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Others: Geographic Segmentation

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