Pune, India -- (SBWIRE) -- 03/23/2018 -- The Global Emission Control Catalyst Market is segmented into five regions based on geography, namely–North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Among the aforementioned regions, Europe accounted for around 40% market share in 2016 and is expected to grow with the healthy CAGR during the review period, 2017 to 2023. The major factor that is attributed to the regional growth is implementation of stringent emission control standards for all the major end use industries of Emission Control Catalyst. Growing concern over environmental pollution along with strict emission regulations are encouraging the vehicle manufacturers to use catalyst converter with precious metals as catalyst. Germany and France is expected to hold the largest market for Emission Control Catalyst due to their wide utilization in a large number of power projects and high economic growth. Moreover, European commission implemented the EU Emission Trading System (EU ETS) in 2005, whose purpose was and still is, to provide incentives for reducing carbon gas emissions in a vast number of power stations and production facilities across the region. This scheme is predicted to play a prominent role in increasing the application of Emission Control Catalyst over the forecast period.

North America Emission Control Catalyst Market is categorized into U.S and Canada. The U.S and Canada have accounted for the largest market share and are predicted to grow with moderate CAGR on account of consistent growth across the metal, fertilizer, chemicals, and power sector. Moreover, the presence of key market players and their efforts to enhance new technologies to reduce emissions is predicted to fuel the U.S. Emission Control Catalyst Market over the assessment period. In Latin America, Brazil is one of the major developing economies which has been observing growth in its mining and oil & gas exploration activates. With the above-mentioned reason, Brazil Emission Control Catalyst Market is predicted to grow tremendously with a healthy CAGR in the upcoming years.

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In Asia Pacific, the market is predicted to grow with the significant CAGR due to strong manufacturing base for automobile and expanding various end use industries. Rising automotive fleet due to rise in vehicle ownership in emerging economies such as India, China, and South Korea is resulting in massive increase in automobile emission, which in turn, has increased the demand for vehicle Emission Control Catalyst. Moreover, in countries such as China, Saudi Arabia, Kuwait, the United Arab Emirates (UAE) has observed tremendous growth in industries such as cement manufacturing, metal processing, oil & gas exploration, mining, and power generation, resulting in huge amount of pollutants through emission from industries. With these reasons, the Emission Control Catalyst Market is predicted to observe healthy growth over the forecast period.

Segmentation

The Global Emission Control Catalyst Market is categorized on the basis of product, application, and region. On the basis of product, the market is segmented into palladium, platinum, rhodium, and others. On the basis of application, Emission Control Catalyst Market is classified into transportation, industrial, and others. On the basis of regions, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players

Some of the key industry participants operating in the Global Emission Control Catalyst Market are BASF SE (Germany), Johnson Matthey (U.K.), Solvay (Belgium), Umicore SA (Belgium), Corning Incorporated (U.S.), Clariant (Switzerland), aerinox-inc (U.S.), CORMETECH, INC. (U.S.), Cataler Corporation (Japan), DCL International Inc (U.S.), and others.

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