The automotive catalytic converter is a system utilized in the exhaust system of vehicle to eradicate the unwanted harmful gases likewise carbon monoxide, nitrogen oxide, and hydrocarbons from it. There are several types of catalytic converters, likewise two-way oxidation, three-way oxidation-deduction converter, and diesel oxidation catalyst. Such devices control the emission by catalysing the toxic gases into less damaging gases by the redox reaction. They adapt the nitrogen oxide, hydrocarbons, and carbon monoxide into oxygen, nitrogen, carbon dioxide and water by the procedure of the chemical reaction through the oxidation and deduction.
According to the report analysis, ‘Automotive Catalytic Converter Market: Current
Analysis and Forecast (2021-2027)’ states that the global requirement
for automotive catalytic converters has grown progressively over the past few
years owing to technical advances. The foremost growth of the market depends
upon the worldwide automotive production and therefore the requirement for
catalytic converters is on a verge to develop due to increasing demand of automotive.
Further the increasing governments attention towards emission standards and
stringent rules would play a foremost role for the requirement of more
environmentally friendly catalytic converters. On March 2020, BASF launched new
Tri-Metal Catalyst, allowing partial substitution of palladium with platinum in
catalytic converters.
Based on type, the market is classified into two-way catalytic,
three-way catalytic and others. The three-way catalytic are majorly used in
vehicle emission control system around the world. The three-way catalytic is predicted
to register the market over the forecasted duration. It has been utilized in
emission control system across North America and other countries since 1981.
Based on material type, the market is classified into platinum,
palladium, and rhodium. Rhodium is a popular material for recycling vehicle
catalytic converters because it is more operative at removing dangerous exhaust
emissions by breaking down nitrogen oxides in exhaust gases and discharging
harmless oxygen and nitrogen gases. The majority of the requirement for rhodium
catalyst comes from the automobile industry, and this sector is estimated to
remain foremost for a long time.
Based on vehicle type the market is classified into passenger car
and commercial vehicle. Because of the greater number of sales and
manufacturing of passenger automobiles across the world, the passenger car
category has the biggest market share. The speedy growth in the number of
passenger automobiles is owing to augmented urbanization, an upgrading in the
standard of living, the construction of road infrastructure, and an increment
in disposable money, specifically in countries such as India, China, Japan, and
portions of Europe. Therefore, it is predicted that during the forthcoming
years the market of automotive catalytic converter will increase around the
globe more actively over the near future.
For More Information, refer to below link:-
Global
Automotive Catalytic Converter Market
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