North America Automotive Catalyst Market Outlook

north america automotive catalyst market is expected to be one of the major markets for the industry in the near future. the demand for automotive catalytic converters is estimated to remain mainly driven by increasing sales of vehicles in the us and canada. the requirement of automotive catalytic converters in these countries is also great, as the emissions from vehicles have been increasing. the mounting strict regulations on the environment and fuel efficiency is fueling the replacement of automotive catalytic converters with new ones, which has been helping the market to grow. in terms of material, the north american automotive catalyst market is mostly driven by platinum, rhodium and palladium, which are used mostly in the automotive applications. even though platinum has the highest market share, palladium has been emerging as the key material due to its cost competitiveness. similarly, there has been an increase in usage of palladium in place of other converter materials, especially in emissions systems of diesel vehicles. this is mainly due to its availability and cost. the catalyst market in this region also witnessed steady growth over the last few years due to the increased focus on fuel efficiency of vehicles, spurred by the emission control regulations. moreover, the growth in fuel efficiency standards in the us poses a major opportunity for the automotive catalyst market. technological advancement in engine technology has also positively characteristics of automotive catalytic converters, which opens up scope for new opportunities. the growing requirement of automotive catalytic converters is also expected to indicated the embrace of electric vehicles in north america in the near future. further, the increased presence of connected electric vehicles (evs) will create scope for connected trustworthy insights. on the other hand, the rising demand for alternate fuels in the automotive industry is also pushed for the growth of catalyst market in this region. to conclude, the north america automotive catalyst market is expected to witness robust growth, driven by factors like the increasing government efforts to regulate the emissions from vehicles, technological advancements in engine technology, and growing demand for connected evs. thus, the automotive catalyst market is expected to witness consistent growth during the forecast period of 2018 to 2032.