Regulations are the major drivers of emission control catalysts. A series of international agreements on reducing emissions, and national initiatives for reducing emissions are driving the global market of emission control catalysts. The global market for emission control catalysts is projected to exceed $7.4 billion by the year 2012.
San Jose, CA (PRWEB) April 16, 2008 -- Industries and automobiles are the major sources of emissions worldwide. While developed regions such as United States, Western Europe, and Japan have achieved considerable success in reducing emissions through various regulations, emerging economies in Asia and Latin America are also increasing efforts to control emissions. As such these regions offer higher growth opportunities when compared to other markets around the world. Asia-Pacific region is projected to offer the highest growth opportunity for emission control catalysts, recording a CAGR of about 7.75%, as stated by Global industry analysts, Inc. Europe represents the largest emission control catalysts market in the world, projected to be worth $2.8 billion by 2010.
Industrial emission control catalysts offer higher growth opportunities than motor vehicle emission control catalysts. Industrial emission control catalysts market is expected to be fastest growing segment of the total emission control catalysts market. Regional variations in regulation for automotive and industrial emissions affect growth opportunities for emission control catalysts. Asia-Pacific, Middle East and Latin America offer the highest growth opportunities for motor vehicle emission control catalysts. Global motor vehicle emission control catalysts market is projected to record a CAGR of 3.4% over the period 2001-2010.
Vendors of emission control catalysts are increasing spending on R&D to adhere to evolving emission norms. With regulatory authorities increasing the scope of coverage for emission norms to include new classes of vehicles and industries, manufacturers of emission control catalysts are expected to derive higher profits. Alliances between local companies and global majors are increasing. Higher growth opportunities in emerging markets are also leading to consolidation in the industry.
The report titled "Emission Control Catalysts: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends and issues, competitive scenario, product overview, product introductions/innovations and recent industry activity. The study also analyzes market data and analytics in value sales for the period 1991-2015 by the following segments - Motor Vehicle Emission Control Catalysts and Industrial Emission Control Catalysts. Regions analyzed include United States, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America.
Key players dominating the global emission control catalysts market include BASF Catalysts, Catalytic Solutions, Corning Incorporated, DCL International, Johnson Matthey, OM Group, Rhodia, Sud-Chemie AG, Tenneco and Umicore SA.
For more details about this research report, please visit
http://www.strategyr.com/Emission_Control_Catalysts_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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