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European precious metal catalysts market accounted for the largest share till 2022

 

The Precious Metal Catalysts Market size is estimated to grow from USD 14.37 billion in 2017 to USD 19.41 billion by 2022, at a CAGR of 6.19%. 

Browse 133 Market Data Tables and 30 Figures spread through 178 Pages and in-depth TOC on "Precious Metal Catalysts Market “.

 “The automobile sector is projected to grow at the highest rate during the forecast period”

The automobile sector dominated the market in 2016, and is projected to be the fastest-growing end-use sector over the next five years, as a result of the rising stringent emission standards and the growing automotive, refinery, and pharmaceutical industries. The newly developed emission standards demand additional improvements in catalyst technologies to successfully remove toxic substances from car exhausts, which will, in turn, drive the precious metal catalysts market growth through the automobile sector.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=166753795

“The automobile sector is projected to grow at the highest rate during the forecast period”

The automobile sector dominated the market in 2016, and is projected to be the fastest-growing end-use sector over the next five years, as a result of the rising stringent emission standards and the growing automotive, refinery, and pharmaceutical industries. The newly developed emission standards demand additional improvements in catalyst technologies to successfully remove toxic substances from car exhausts, which will, in turn, drive the precious metal catalysts market growth through the automobile sector.


“European precious metal catalysts market accounted for the largest share in 2016”

The European region accounted for the largest share of the precious metal catalysts market in 2016, wherein Germany accounted for the largest country-level market. The government’s stringent emission norms and the growth in end-use sectors such as automobile, refinery, pharmaceutical, and petrochemical are some of the factors driving the precious metal catalysts market in Europe. The market in this region is growing rapidly due to the presence of numerous leading players. Its significant hold on industries such as automotive, pharmaceutical, refinery, and mass transport has played a crucial role in the growth of the market for precious metal catalysts in the European region.

Market Dynamics

Drivers

  • Growing demand from end-use sectors
  • Environmental concern and their legal implications

Restraints

  • Performance dependency on temperature & loss of activity through poising and thermal deactivation
  • Emergence of nano-particle catalysts

Opportunities

  • R&d activities to reduce costs and to improve the quality of catalysts
  • Increasing investment in automobile sectors

Challenges

  • Precious metals price volatility
  • Rising demand of electronic vehicles (EVs) will reduce the usage of precious metals in automobile
  • Less stringent emission regulation in APAC region

Read More Insights at https://www.marketsandmarkets.com/Market-Reports/precious-metal-catalysts-market-166753795.html

 

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