Malaysia Automotive Catalyst Market Outlook

malaysia is undoubtedly one of the world’s largest automotive hubs and has emerged as the centre of the global automotive industry in recent years. automotive catalysts market in malaysia has grown significantly over the last decade due to the tremendous increase in the production of vehicles and heavy trucks. the resulting surge in demand for these automotive catalysts has increased the need for more effective products to reduce engine emissions, thereby driving the market growth in the country. malaysian automotive catalyst market was valued at around usd 50 million in 2018 and is estimated to grow at a healthy cagr of around 8-10% during the forecast period of 2018-2032. major drivers for the growth of the malaysian automotive catalyst market include rising sales of vehicle production, government’s focus on green transportation and stringent emission regulations. growing consumer awareness and adoption of cutting-edge automotive technology is also expected to bolster the market further. major market players are focusing on integrating advanced technologies such as selective catalytic reduction (scr), three-way catalysis (twc) etc. in their automotive catalysts, thus helping to reduce harmful emissions and improving engine performance. manufacturers are also researching on automotive catalysts with reduced cost and enhanced features. malaysia’s vehicle stock in 2016 was estimated around 24 million, a figure which is expected to reach 66 million by 2032. this will eventually increase the demand and the market size of automotive catalysts in malaysia. furthermore, the rise of electric vehicles and products compliant with euro 6 norms, necessitate the enhancement of emission control technologies that can support the deployment of advanced mobility solutions. to conclude, with the increasing demand for higher efficiency, quality and environmental friendliness products, the automotive catalyst market in malaysia is expected to present lucrative opportunities in the near future. market players are poised to benefit significantly from this wave of technological paradigm shift towards clean and green transportation.