Madhya Pradesh Online Journal

Umicore (Belgium) and BASF are leading players in the Automotive Catalyst Market

 Breaking News
  • No posts were found

Umicore (Belgium) and BASF are leading players in the Automotive Catalyst Market

September 21
11:45 2021
Umicore (Belgium) and BASF are leading players in the Automotive Catalyst Market
Browse 69 market data Tables and 35 Figures spread through 98 Pages and in-depth TOC on “Automotive Catalyst Market”
Automotive Catalyst Market by Type (Platinum, Palladium and Rhodium), Vehicle Type (Light-Duty Vehicles, Heavy-Duty Vehicles), and region (North America, APAC, Europe, South America, and Middle East & Africa)

The automotive catalyst market is estimated to be USD 12.35 billion in 2018 and is projected to reach USD 15.73 billion by 2023, at a CAGR of 5.0% from 2018 to 2023. Automotive catalysts are catalysts installed on vehicles to convert harmful exhaust gases, such as NOx, hydrocarbons, CO, and other particulate matter into relatively safe chemicals, such as nitrogen, carbon dioxide, and water. The demand for these catalysts is increasing because the emission standards implemented by governments across the globe are becoming increasingly stringent. This market intelligence report segments the automotive catalyst market on the basis of vehicle type and type, in terms of value and volume.

Stringent emission standards and the stress on fuel efficiency are key factors anticipated to drive the automotive catalyst market. Companies operating in this market are focused on the adoption of various strategies, such as new product launches, expansions, and acquisitions to cater to the rising demand for automotive catalysts in various regions worldwide. Key players in the automotive catalyst market include BASF (Germany), Johnson Matthey (UK), Umicore (Belgium), Cataler (Japan), Cummins (US), Heraeus (Germany), INTERKAT (Germany), CDTi Advanced Materials (US), Tenneco (US), and IBIDEN (Japan).

Besides new product launches, companies have adopted the expansions strategy to increase their market shares and distribution networks. These strategies accounted for a significant share of the total growth strategies adopted by key players in the automotive catalyst market between 2015 and 2017.

To know about the assumptions considered for the study download the pdf brochure

Active Players in the automotive catalyst Market

Umicore (Belgium), one of the key players in the automotive catalyst market, develops automotive emission systems for light-duty and heavy-duty vehicles. The catalysts are used in a wide range of powertrains, including gasoline and diesel engines, natural gas, and alternative fuels, and are increasingly critical in engines supporting mild and full hybrid vehicles. The company operates through the Energy & Surface Technologies, Recycling, and Catalysis divisions.  In June 2017, the company took over the heavy duty diesel businesses of Haldor Topsoe. This acquisition aided the company to tap into to the customer base in Europe and China as well as acquire the emission control technology for heavy duty diesel applications. In March 2017, the company acquired ORDEG based in South Korea, which was a joint venture between Samkwang Glass and OCI Company. This acquisition is expected to help meet the needs of Korean catalyst customers. In January 2017, the company opened a plant in Thailand for emission control catalysts in Thailand. The expansion aided the company to meet the unmet needs of the fast growing market of Southeast Asia.

BASF is one of the world’s largest chemical companies operating in business segments, namely, chemicals, functional materials & solutions, oil & gas, performance products, and agricultural solutions. The company also has other businesses, such as fertilizers, the sale of raw materials, engineering & other services, and rental income & leases. The company has a strong presence in the automotive catalyst market, with a diversified product portfolio and a vast consumer base. In December 2017, the company expanded its mobile emission catalyst production site in Ṥroda Ṥl¹ska, Poland. This expansion added 14,000 square meters to the manufacturing site and resulted in the addition of new production lines.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=96120211

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/automotive-catalyst-market-96120211.html