Auto Catalysts Market

Auto Catalysts Market Definition

The auto catalysts market refers to the catalytic converter, which regulates the emission of pollutants like carbon dioxide, hydrocarbons, and nitrogen oxide generated by vehicles. It is an essential part of a vehicle’s exhaust system. These types of catalysts play an important role in vehicles' exhaust systems by enhancing air quality and eliminating vehicle emissions. Surging automobile production demand, growth of electric-powered or hybrid vehicles worldwide, rising regulatory demands for cleaner vehicle emissions, etc., drive the growth of the auto catalysts market.

The risk factors of these catalysts include the adoption of alternative technologies, the high cost of automotive industries, changing prices of catalyst materials, regulatory changes, competition in key players, and increasing production costs, which can restrict the growth of the market. The future scope of these catalysts includes consumers' shift towards eco-friendly and sustainable products, increasing investment in technology, increasing investment in the development of infrastructure, improving product functionality, and increasing industrialization, which will help the growth of the auto catalysts market. Asia Pacific region dominates the growth of the market. In August 2024, a new RD&A lab for automotive emission solutions was launched by BASF Catalysts India Private Limited.