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The global market for autocatalysts is being driven by the rise in global pollution levels caused by the harmful emissions from diesel and gasoline-driven motor vehicles. These vehicles emit several harmful gases, namely carbon monoxide, nitrogen oxides, hydrocarbons, and particulates, among others which contribute to acid rain, low-level ozone, smog formation, and contain cancer-causing compounds. Furthermore, with the surging demand for light-duty vehicles from the commercial and residential sectors, the market for autocatalysts is expected to grow due to increasing populations and inflating disposable incomes. Furthermore, huge investments by key industry players on the improvement and development of advanced auto catalysts such as the development of a three-way catalyst to improve fuel efficiency and reduce carbon dioxide emissions at a lower temperature are further expected to invigorate the market growth of autocatalysts in the coming years.
BASF SE (ETR: BAS), a leading player in the global market for autocatalysts, recently launched a new tri-metal catalyst in March 2020. Developed in collaboration with and sponsored by Sibanye-Stillwater and Impala Platinum, the innovative technology enables partial substitution of palladium with platinum, enabling a reduction in catalytic converter costs and partially alleviating sustained palladium deficits. Furthermore, adopting the tri-metal catalyst can reduce catalytic converter costs for automakers given the increase in the palladium demand from countries like China, India, and Europe due to stringent government regulations. Such developments by leading market players are pushing the market growth of autocatalysts.
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The major players in the global auto catalyst market are Haldor Topsoe A/S, BASF SE, Umicore S.A., Cataler Corporation, and Johnson Matthey, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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