Report Code: A16082 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Industrial Catalytic Converters Market
Request Now !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.Â
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.
COVID-19 Impact analysis
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.Â
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.Â
Key Benefits of the Report
Industrial Catalytic Converters Market Report Highlights
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