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2022
Industrial Catalytic Converters Market

Industrial Catalytic Converters Market by Type (Two-way and Three-way) and End-User Industry (Oil & Gas, Chemical, Metal & Mining, Textile, and Automobile): Global Opportunity Analysis and Industry Forecast, 2021-2030

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Jul 2022 | 88 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Industrial catalytic converter is a device that utilizes a redox reaction to regulate the emission of poisonous and damaging pollutants from exhaust fumes. The redox reaction consists of oxidation reaction or reduction reaction. Industrial catalytic converters are used in a variety of sectors, including steel, refinery, and manufacturing, where harmful gas emissions are considerable. These devices are primarily used to transform dangerous exhaust gases like hydrocarbons (HC), carbon monoxide (CO), and nitrogen oxides (NO) into less toxic and harmful gases such as nitrogen and carbon dioxide. Industrial catalytic converter is made up of two columns, ceramic and metallic, each with a catalyst coating. Platinum, palladium, or rhodium are utilized as catalysts in this device, which are coated on a ceramic column and connected to the outlet. Ceramic columns provide protection against temperature and vibration shock, while metal columns are directly attached to the body. 

Market Scope and Structure Analysis

Description

Two-way catalytic converters and three-way catalytic converters are two of the most common forms of industrial catalytic converters prevailing in the market. Two-way industrial catalytic converters are primarily used in various engines, such as diesel and gasoline to reduce carbon monoxide, hydrogen cyanide, and nitrogen oxide emissions (hydrocarbons). Smog and acid rain are caused by highly hazardous and poisonous chemicals such as NO2 (nitrogen dioxide) and nitric oxide. These chemicals are controlled by three-way converters.

Report Metric

Details

Market Size Available for Years

  2020-2030

  Base Year Considered

  2021

  Forecast Period

  2021-2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Type, End-User Industry, and Region

  Companies Covered

Bosal, Katcon, Ningbo Kesen Exhaust Gas Cleaner Manufacturing Co. Ltd., Wuxi Weifu Lida Catalytic Converter Co. Ltd., Catalytic Products International, Dcl International Inc., Standard Teco. Limited, Teco Limited, and AP Exhaust Products.

 

COVID-19 Impact analysis

  • The COVID-19 pandemic halted the production of various products in the industrial catalytic converters industry, which is attributed to the global lockdown. This has hampered the growth of industrial catalytic converters market from the last few months and is likely to continue through 2022.
  • COVID-19 affected the sales of industrial catalytic converters in the first quarter of 2022 and is anticipated to have a negative impact on the market growth throughout the year.
  • The major demand for industrial catalytic converters was previously noticed from giant manufacturing countries, such as North America, Europe, Asia-Pacific, South America, which are negatively affected by the spread of the coronavirus, thereby declining the demand for converters.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Industrial catalytic converters manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
  • Industrial catalytic converters manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, and ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

The demand and use of catalytic converter in the automobile sector is steadily increasing. Governments all around the globe are establishing strict emission regulations to manage and decrease carbon emissions in response to rising environmental and health concerns. For instance, in April 2020, the U.S. Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) encouraged the manufacturing of environmentally friendly automobiles such as passenger and commercial vehicles to increase fuel efficiency and minimize carbon emissions. By 2025, the government curbs to cut CO2 emissions by 3,100 million metric tons and save 6 billion barrels of oil through these programs. An important trend recently recognized trend is the use of non-noble metals in the construction of industrial catalytic converters. Growth in vehicle production & sales and a rise in global industrialization, have the potential to create a significant opportunity for this market. 
Furthermore, global industrialization in industries such as chemicals and textiles, as well as increased manufacturing of electrical equipment and steel goods, are driving the demand for industrial catalytic converters. 

  • In March 2020, BASF discovered a Tri-metal Catalyst Technology that allows them to reduce the cost of the catalytic converter by replacing high-cost palladium with low-cost platinum while maintaining emission reduction capabilities. Tri-metal catalysts help automakers save on catalytic costs while balancing market demand for PGM and ensuring long-term viability of the industry.
  • In March 2020, Vitesco Technologies and Continental's Powertrain division were offered a contract by a European car manufacturer to deliver new electric heating components for diesel catalytic converters. Two of the manufacturer's 48-volt hybrid van versions feature this EMICAT brand e-catalytic converter technology. The multi-million deal is expected to begin production by the end of 2022.
  • In April 2021, Catalytic Products International completed the installation of a new regenerative thermal oxidizer for the elimination of volatile organic compound from the coating material of Class A composite vehicle body components. With a capacity of 15,000 SCFM, the TRITON 15.95 Regenerative Thermal Oxidizer (RTO) controls emissions from the spray booth, drying oven, and flash-off area of the new painting system. RTO removes VOC emissions with a 98 percent destruction rate and a 95 percent thermal efficiency.

Key Benefits of the Report

  • This study presents the analytical depiction of the industrial catalytic converters industry along with the current trends and future estimations to determine the future investment pockets.
  • The report presents detailed information related to key drivers, restraints, opportunities and market share of industrial catalytic converters share.
  • A quantitative analysis highlights the industrial catalytic converters growth scenario from 2020 to 2030.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed industrial catalytic converters analysis based on competitive intensity and how the competition will take shape in coming years.
 
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