The market size of ternary catalysts shows a steady growth trend
2024/4/26
The market size of ternary catalysts has shown a steady growth trend in the past few years. According to the analysis data of the three-way catalytic converter industry, the global automotive three-way catalytic converter market has grown from $10 billion in 2017 to $15 billion in 2025, with a compound annual growth rate of 5%. This indicates that the three-way catalytic converter market is maintaining a good development momentum globally.
The industry chain of ternary catalytic converters
The analysis of the three-way catalytic converter industry mentions that in terms of supply chain, the core raw materials of three-way catalytic converters include active materials, carriers, structural materials, etc. Among them, active materials are the key, and their technical level directly determines the performance and lifespan of catalytic converters. However, currently China lags behind in the production technology of active materials, which to some extent restricts the development of the ternary catalytic converter industry. With the continuous strengthening of environmental policies and technological progress, every link in the supply chain needs to undergo technological upgrades and optimizations to meet the growth of market demand.
In terms of technology chain, the manufacturing technology requirements for three-way catalytic converters are high, and there are significant differences in the technical level, research and development capabilities, production processes, equipment, costs, and other aspects among different manufacturers. This also poses certain challenges for the scale development of enterprises, but it also has strong advantages for industry leading enterprises. In addition, the application of new materials and technological adjustments are also important directions for technological innovation in the ternary catalytic converter industry. For example, the use of certain precious metal materials can effectively improve the efficiency of catalysts, reduce costs, and end the excessive use of rare metals.
The prospects of the ternary catalytic converter industry
The promotion of environmental regulations: Governments around the world are increasingly strict with automobile emission standards, requiring vehicles to reduce exhaust emissions, which will drive the growth of demand for three-way catalytic converters. For example, the Euro standards in Europe and the EPA standards in the United States are constantly being upgraded, placing higher demands on vehicle emission levels.
Automobile production growth: Analysis of the three-way catalytic converter industry shows that with the growth of global automobile production, especially in the rapid development of emerging markets, the demand for three-way catalytic converters will also increase. Automobile manufacturers must equip efficient emission control equipment in order to comply with emission regulations.
Development of new energy vehicles: Although new energy vehicles do not generate traditional exhaust emissions, three-way catalytic converters are still needed in hybrid vehicles and fuel cell vehicles to control the emissions of internal combustion engines.
Technological innovation: The three-way catalytic converter industry continues to innovate in catalytic materials, structural design, and production processes to improve catalytic efficiency, reduce costs, and extend service life, which will promote the development of the industry.
Market competition: Due to the great potential of the three-way catalytic converter market, it has attracted multiple enterprises to enter the competition. Market competition will promote the improvement of product quality and the reduction of costs, promoting the healthy development of the industry.
In summary, the three-way catalytic converter industry has good development prospects, benefiting from the combined effects of environmental regulations, increased automobile production, development of new energy vehicles, and technological innovation, and is expected to maintain steady growth.
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