The global auto catalysts market has
come into its own in the last few decades due to growing environmental
awareness of the global population. Auto catalysts are substances used
in automotive exhaust systems to convert automotive exhaust gases into
less harmful substances. Automotive exhausts include various toxic
and/or greenhouse gases such as oxides of nitrogen and sulfur. Auto
catalysts react with these gases as they pass through the vehicle’s
exhaust system and convert them into non-toxic and environmentally
viable substances. The increasing public support for the protection of
the environment is expected to drive the global auto catalyst market at a
remarkable pace in the coming years.
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The report presents a thorough look at
the historical trajectory of the global auto catalyst market presenting a
reliable database. Solid forecasts regarding the market’s development
in the coming years are specified in the report. The global auto
catalyst market is segmented according to key criteria providing the
analysis of the segmentation of the market and its hierarchy therein.
Major companies operating in the global auto catalyst market are also
profiled in the report to provide detailed information of the market’s
competitive landscape.
Global Auto Catalyst Market: Drivers and Restraints
Increasing environmental awareness among
the population and governmental initiatives to reduce the impact of
human activities on the environment are driving the global auto catalyst
market. Reducing automobile emissions have long been considered
important to environment conservation, which has been the strong
undercurrent for use of auto catalysts in new-age automotive design.
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The booming global automotive industry is
another major driver for the auto catalysts market. The demand for
vehicles in emerging economies has been boosted by the increasing
purchasing power of consumers. Most modern cars have in-built exhaust
purification units, increasing the demand of the auto catalysts market.
Global Auto Catalyst Market: Regional Overview
Asia Pacific emerged as a major market
for auto catalysts due to the increasing demand for cars from dynamic
economies such as India, China, Thailand, Japan, Indonesia, and South
Korea. Apart from the growing consumer base, these countries are
becoming important manufacturers of vehicles in the last few years. This
has elevated the Asia Pacific automotive market to the ranks of the
established European and North American market, which has increased the
influence held by the APAC automotive industry over global norms and
regulations.
The China market for auto catalysts is
particularly important for the global market due to the high volume of
automobile production in China and the increasing demand for European
luxury cars. The strict 5/v emission regulations in China are expected
to be particularly beneficial for the APAC auto catalyst market in the coming years.
The North American market for auto
catalysts is expected to exhibit steady growth due to the increasingly
stringent environmental regulations being introduced in the U.S. and
Canada. The EU has also put in place several regulations aimed at
environmental conservation, which are expected to boost the regional
auto catalyst market.
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