The report "Emission Control Catalyst Market by Type (Palladium, Platinum, Rhodium), Application (Automotive, Industrial and Others), Region - Global Trends & Forecast to 2021", The emission control catalyst (ECC) market is projected to reach USD 16.09 Billion by 2021, growing at a CAGR of 10.37% during the forecast period.

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Currently, Europe is estimated to be the largest market for ECC, accounting for more than half of the global market share, by value, in 2015. Germany dominated the European ECC market in 2015, followed by the U.K. Germany is also the fastest-growing market for ECCs. Europe has the largest market for diesel engines and due to constant fuel price fluctuations the market for gasoline-powered engines is lower than that of diesel engines.

Platinum is used as catalyst to control emissions in diesel engines since it is the only precious metal that can sustain its performance under high temperature conditions in car exhausts. The demand for palladium and rhodium is projected to grow at a slow rate in Europe, as the usage of gasoline is extremely less in the region. The other metals that are used as emission control catalysts in industrial activities are expected to grow largely due to rise in demand for marine and locomotives.

The automotive industry is the largest market for precious metal-based emission control catalysts and accounts for the largest part of the total emission control catalyst market size in terms of value. The demand for platinum group metals is projected to grow at a fast rate in the automotive industry as these resources are mainly used in catalytic converters for heavy duty and light duty vehicles and also in the marine and locomotive industry. The most popular and efficient catalytic technology used earlier for automobiles was oxidation catalysis which has now been replaced by much more efficient three-way catalytic converter technology.

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Major players such as BASF Catalysts LLC (U.S.), Johnson Matthey (U.K.), Solvay S.A. (Belgium), Umicore SA (Belgium), Corning Incorporated (U.S.), and Clariant Corporation (Switzerland) have adopted development strategies such as expansions, agreements & collaborations, and new product development to achieve growth in the global ECC market.

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