Global Automotive Catalytic Converter Devices Market Accounts For A Valuation Of US$ 53.26 Billion By 2032

Sales of automotive catalytic converter devices across the world are predicted to surge at a CAGR of 7.8% between 2022 and 2032. Currently, the global automotive catalytic converter devices market accounts for a valuation of US$ 53.26 billion and is expected to reach US$ 112.86 billion by the end of 2032.

Catalysts used in converters are usually palladium, rhodium, platinum, and others. As palladium has a low cost and better selectivity & activity than other materials, it is the most widely used catalyst in automotive converters.

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Report Attributes Details
Automotive Catalytic Converter Devices Market Size (2022E) US$ 53.26 Billion
Forecasted Market Value (2032F) US$ 112.86 Billion
Global Market Growth Rate (2022-2032) 7.8% CAGR
North America Market Share (2022) 29.4%
Europe Market Share (2022) 23.6%
Key Companies Profiled
  • Benteler International AG
  • Tenneco Inc.
  • Faurecia SA
  • BASF Catalysts
  • Clean Diesel Technologies
  • Katcon
  • Marelli Holdings Co., Ltd.
  • Jetex Exhausts Ltd
  • Sango Co., Ltd.

Sales Analysis of Automotive Catalytic Converter Devices (2017-2021) Vs. Market Outlook (2022-2032)

“Rapid Expansion of Automobile Industry Driving Demand for Automotive Catalytic Converter Devices”

According to Fact.MR, a market research and competitive intelligence provider, global demand for automotive catalytic converter devices is expected to rise at a high-value CAGR of 7.8% from 2022 to 2032.

Exhaust gas from an internal combustion engine comprises toxic gas and pollutants; automotive catalytic converter devices are used in vehicles to convert these gases into less harmful emissions by catalyzing a redox reaction.

Due to the high costs of material, manufacturers of automotive catalytic converter devices are focusing on developing a structure that exposes a large surface area to the exhaust stream, while reducing the amount of catalyst required.

With an increasing number of vehicles, the amount of pollution that vehicles produce is creating big environmental problems. This had led to a surge in the demand for automotive catalytic converter devices in recent years. The large-scale production of automobiles in emerging economies is a key factor driving the consumption of automotive catalytic converter devices across these regions.

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