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Increasing Global Demand Catalytic Converter Market

The catalytic converter market is projected to grow at a CAGR of 8.05% from 2016 to 2021, to reach a market size of USD 55.16 Billion by 2021.

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Increasing Global Demand Catalytic Converter Market

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  1. Catalytic Converter Market worth 55.16 Billion USD by 2021 www.MarketsandMarkets.com

  2. Catalytic Converter Market by Type (Three-way Catalytic Converter, Selective Catalytic Reduction, Diesel Oxidation Catalyst, and Lean NOx Trap), Material (Platinum, Palladium, Rhodium), Region, and Aftermarket by Region - Global Forecast to 2021 The catalytic converter market is projected to grow at a CAGR of 8.05% from 2016 to 2021, to reach a market size of USD 55.16 Billion by 2021. Stringent fuel efficiency norms, increasing vehicle demand, and production are the major drivers for the catalytic converter market. PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=128255548

  3. “Selective Catalytic Reduction (SCR) is projected to be the largest catalytic converter type” SCR is projected to dominate the catalytic converter market, in terms of value, by 2021. SCR is commonly used in diesel fueled vehicles. Asia-Oceania and Europe are the leading regions with the highest number of diesel powered vehicles, and hence, these regions are leading the global SCR market. Additionally, Europe has implemented the Euro 6 regulations, in which NOx emission limits have been reduced to 0.08 g/kWh (light-duty diesel vehicles) from 0.18 g/kWh in Euro 5. This is close to 97% reduction, as compared with the 1990 NOx limits.

  4. “The market for Palladium-based catalytic converters is estimated to witness the fastest growth in the catalytic converter materials market” Palladium is used as an oxidation catalyst in the Three-way Catalytic Converter (TWC) and Diesel Oxidation Catalyst (DOC). As palladium is cheaper as compared to platinum, most of the gasoline catalytic converters are now based on palladium. The additional advantages of palladium are that it is the strongest among the Platinum Group Metals (PGM), in terms of capturing the oxygen atoms, and it is more reactive at higher temperatures, thus, providing better oxidation. Also, as mentioned, palladium is used in TWC, which is the leading catalytic converter, in terms of volume. Owing to all these factors, the market for palladium-based catalytic converters is projected to grow at the fastest rate during the next five years. RequestSample@ https://www.marketsandmarkets.com/requestsample.asp?id=128255548

  5. “Asia-Oceania region is the leading market in terms of catalytic converter demand” Asia-Oceania is estimated to dominate the catalytic converter market for the automotive industry, as the region represents countries such as China, Japan, South Korea, and India with the world’s highest vehicle production. According to the Organisation Internationale des Constructeurs d Automobiles (OICA) publication, these countries together contributed ~48% to the global vehicle production in 2015. Additionally, Asia-Oceania has created promising opportunities for automobile manufacturers and automotive component suppliers.

  6. Browse >> 90marketdata tables 61figures 164 pagesand in-depth TOC on “Catalytic Converter Market – Global Forecast to 2021” Early buyers will receive 10% customization on this report. This is a Premium Report Priced at US $5650 for single user. Corporate User : US$8150 This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  7. Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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