Canada Automotive Catalyst Market Outlook

the automotive catalyst market in canada has seen significant growth since its introduction to the market. as emissions standards have become increasingly stringent, the need for efficient and reliable catalytic converters has driven the uptake of this technology. while automotive catalysts typically make up a small fraction of the total cost of a vehicle, their performance is essential for meeting emissions standards. in the past, the automotive catalyst market in canada has largely been driven by the demand for gasoline powered engines. however, in recent years, the introduction of electric vehicles has created new opportunities for catalyst manufacturers. this has enabled an increase in the demand for automotive catalysts, which has been further bolstered by governments offering incentives for electric vehicles in canada. in 2018, the canadian government announced the ev incentive program which provides drivers of electric vehicles up to $5,000 in purchase incentives, as well as other incentives such as waived licensing and registration fees, and free charging outlets for home use. this program has helped foster an increase in the demand for electric vehicles, thereby increasing the demand for automotive catalysts in the country. in addition, advancements in catalyst technology have allowed for improved engine efficiency and lower emissions. this has been further bolstered by the rising fuel prices which has incentivized drivers to switch to alternative-fuel vehicles such as hybrids and electric vehicles. all these factors have resulted in an increased uptake of catalytic converters and further contributed to the growth of the automotive catalyst market in canada. looking forward, the demand for automotive catalysts in canada is expected to remain strong over the forecast period. government incentives and technological advancements are expected to drive the growth of this market. furthermore, the increasing focus on reducing vehicular emissions, coupled with the development of innovative catalytic converter designs, is expected to further bolster the growth of the automotive catalyst market in canada.