Innovative technology research and development drives the development of the ternary catalyst market
2023/11/23
Market growth of ternary catalysts in 2023
With the increasing awareness of environmental protection, stricter restrictions on exhaust emissions, and the promotion of clean energy vehicles, the demand for ternary catalysts is increasing. The main function of a ternary catalyst is to convert carbon monoxide, nitrogen oxides, and combustible hydrocarbons in harmful exhaust gases into harmless carbon dioxide, nitrogen, and water vapor. Its efficient catalytic conversion performance and sustainability have helped automakers meet stricter emission standards, making it the preferred material for modern automotive exhaust treatment.
The Chinese ternary catalyst market is growing by 10% annually, with the global ternary catalyst market reaching 10 billion US dollars in 2023. Currently, the scale of the Chinese ternary catalyst market will further expand. Compared with traditional single metal catalysts, ternary catalysts have higher catalytic activity, better stability, and a wider range of applications. Their research and application are of great significance for promoting the development of environmentally friendly and efficient catalytic technologies. The market demand and investment consulting report of China's automotive ternary catalyst industry from 2020 to 2025 pointed out that the market size of China's ternary catalyst industry increased by 11.2% year-on-year in 2022.
Analysis of the scale of the ternary catalyst market in 2023: China's ternary catalyst market grows by 10% annually
Governments around the world have strengthened their supervision of automobile exhaust emissions and implemented a series of strict emission standards. In this context, automobile manufacturers have to take measures to reduce exhaust emissions, and ternary catalysts are one of the most important solutions. Therefore, the increasing awareness of environmental protection has brought greater demand to the ternary catalyst market.
The market scale of ternary catalysts continues to expand
With the progress of technology and the increase in research and development investment, new efficient and low-cost ternary catalyst materials are constantly emerging. While the market competition is fierce, enterprises in the industry are constantly striving to improve the performance and reliability of their products to meet market demand. In addition, the formulation of regulations on higher emission standards and technological innovation is expected to continue to drive the development of the ternary catalyst market.
On a global scale, the market size of ternary catalysts has exceeded billions of dollars. This is mainly due to the increasing pressure from governments around the world on environmental pollution control, and the increasingly strict emission standards for automotive exhaust, which has driven the growth of demand for ternary catalysts.
In summary, with the intensification of global environmental pollution issues, the market size of ternary catalysts is constantly expanding. Especially the huge demand in the Chinese market has driven the development of the industry. In the coming years, with the improvement of environmental awareness and the popularization of new energy vehicles, the market size of ternary catalysts is expected to continue to grow. All relevant enterprises should seize opportunities, improve research and development and production capabilities, and meet market demand.
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