Europe is estimated
to dominate the emission
control catalyst (ECC) market, in terms of value and this trend is expected
to continue till 2021. Countries in the region, such as Germany, France, UK,
and Italy, are witnessing a gradual increase in the adoption of ECC in the
automotive and industrial applications.
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The global ECC
market is primarily driven by the increase in the penetration of automotive
diesel engines set to increase the demand for diesel oxidation catalysts. The
rise in gasoline (petrol) engines is providing a boost to the diesel engines
especially in the developed markets such as Europe.
The fluctuation
in petrol prices has caused several drivers to switch to diesel, which is a
low-octane, liquid fuel that offers better efficiency than petrol. This trend of
increasing preference for diesel in a majority of the automotive markets is
expected to drive the demand for diesel oxidation catalysts. For instance,
diesel cars represent 52% of all new cars that are sold in Europe, which now
require complex emission systems to meet the new emission standards for such
type of vehicles.
China is the largest
producer as well as consumer of ECCs. It is estimated to lead the Asia-Pacific ECC
market, owing to the increasing number of international companies setting up
production plants and offices in the country. Most major players are expanding
in the Asia-Pacific region to compete with domestic manufacturers in China, which
provide ECCs at comparatively low prices.
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ECCs are used in
applications, such as automotive, industrial and others. The automotive industry
is projected to be the fastest-growing application segment of the Asia-Pacific ECC
market.
The most popular and efficient catalytic technology used earlier for
automobiles was oxidation catalyst which has now been replaced by much more
efficient three-way catalytic converter technology. This new catalytic conversion
technology converts carbon monoxide and hydrocarbons into carbon dioxide and
water and also helps in reducing nitrogen oxides to nitrogen and oxygen.
Asia-Pacific and
Europe were the most active regions, in terms of strategic initiatives
undertaken from 2011 to 2015. Expansion was the most favored strategy in the Asia-Pacific;
the region accounted for 60% of all the expansions that took place from 2011 to
2015.
Companies such
as BASF Catalysts LLC (U.S.), Johnson Matthey
(U.K.), Solvay S.A. (Belgium), Umicore SA (Belgium), Corning Incorporated (U.S.)
made several expansions to serve customers more efficiently and increase their market
share.
Major
manufacturers, including the BASF Catalysts LLC (U.S.),
Johnson Matthey (U.K.), Solvay S.A. (Belgium), Umicore SA (Belgium), Corning
Incorporated (U.S.), and Clariant Corporation (Switzerland), have been profiled
in this report. These companies have adopted both, organic and inorganic growth
strategies such as expansion, mergers & acquisitions, and new product
launches to strengthen their foothold in the ECC market.
BASF Catalysts LLC (U.S.) is one
of the leading players in the ECC market. It accounted for 25% of the total
development share, followed by Johnson Matthey (U.K.) and Umicore S.A. (Belgium),
which held shares of 21% and 15%, respectively from 2011 to 2015.
Reference:
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