Industry News
The ternary catalyst market will face new challenges and opportunities in the future
Market size of ternary catalysts
In recent years, with the increase in global automobile production and the increasingly strict environmental policies, the demand for automotive three-way catalytic converters has shown a significant growth trend. According to the analysis of the market size of three-way catalysts, the global automotive three-way catalyst market has grown from $10 billion in 2017 to $15 billion in 2025, with a compound annual growth rate of 5%. Meanwhile, the analysis of the market size of ternary catalysts indicates that from 2019 to 2025, the global automotive ternary catalyst market is expected to grow at a compound annual growth rate of over 7%.
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. In 2022, the market size of China's ternary catalyst industry reached 4.58 billion yuan, a year-on-year increase of 11.2%.
The analysis of the market size of three-way catalysts mentioned that in terms of market competition, several large manufacturers such as Manford, Bosch, Cummins, as well as Johnson Matthey, BASF, Umicore and other companies, with their advantages in manufacturing technology and market share, dominate the global competition pattern of the automotive three-way catalyst market. These companies have strong R&D capabilities and market penetration capabilities, and are able to respond to market changes and customer demands.
Market situation of ternary catalysts
The price of precious metals: The cost of ternary catalysts largely depends on the market prices of platinum, palladium, and rhodium. These precious metals have significant price fluctuations and are influenced by global supply and demand, mineral resource exploitation, political and economic factors, and other factors. For example, in recent years, palladium prices have experienced significant increases due to tight supply and increased demand.
Automobile production: Global automobile production directly affects the demand for ternary catalysts. With the increasing demand for automobiles in emerging markets and the demand for updated vehicles in developed countries, the increase in automobile production can promote the growth of the ternary catalyst market. However, factors such as global economic fluctuations and cyclical changes in the automotive industry can also have an impact on automobile production.
Environmental regulations: Analysis of the market size of ternary catalysts mentions that governments around the world are raising their standards for automotive exhaust emissions, which requires car manufacturers to use more effective exhaust purification technologies, thereby increasing the demand for ternary catalysts. For example, Euro 6 standards in Europe and Tier 3 standards in the United States all have strict restrictions on exhaust emissions.
Technological progress: The development of technology can improve the efficiency and lifespan of ternary catalysts, and reduce dependence on precious metals. Researchers and companies continuously explore new materials and technologies to improve catalyst performance and reduce costs. These technological advancements may affect market conditions and promote market competition.
Overall, the market situation of ternary catalysts is dynamic and requires close attention to relevant market information and industry trends. At present (as of 2023), with the increasing global attention to environmental standards and the rapid development of electric vehicles, the ternary catalyst market will face new challenges and opportunities. Automobile manufacturers and supply chain enterprises need to adapt to market changes and invest in new technology research and development to maintain competitiveness.
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