Global Selective Catalytic Reduction Catalyst Market: Overview
The growing relevance of nitrogen compounds has created humongous opportunities for growth within the global selective catalytic reduction catalyst market. Chemical research has traced a route of progressive development, and this trend has resonated with several manufactures within the chemical industry. The growing use of catalysts to facilitate chemical reactions during commercial applications and experiments has paved way for market growth and maturity. In the contemporary times, there is little contention with regard to the importance of converting nitrogen oxides to other compounds for chemical tests. Use of selective catalytic reduction catalysts to facilitate the aforementioned conversion shall aid market growth. In addition to this, the importance of studying the properties of nitrogen oxides also supports market growth.
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In this review by Transparency Market Research, a host of trends pertaining to the growth of the global selective catalytic reduction catalyst market have been explained. The importance of meeting diesel emission standards specified under EURO6 has created ripples across the market. Manufacturers of trucks, cars, and commercial vehicles have understood the importance of catalytic reduction of nitrogen oxides. In this scenario, it is safe to project that the global selective catalytic reduction catalyst market would grow by a dramatic chase.
Global Selective Catalytic Reduction Catalyst Market: Notable Developments
Some of the notable trends and developments pertaining to the global selective catalytic reduction catalyst market are enunciated herein.
- The automobile industry has caused formidable disruptions in the global selective catalytic reduction catalyst market. Use of selective catalytic reduction (SCR) technology has helped in reducing emissions of particulate matter (PM) and nitrogen oxides (NOX) by 90% in automobiles. Comparison of contemporary-day automobiles with the vehicles that existed in 1900s reveals drastic improvements in emission levels. It is legit to expect that new-age automobile manufacturers have been swift to adopt selective catalytic reduction catalyst across their manufacturing operations.
- The US stipulated strict regulations with regard to manufacturing of diesel engines. Post 1st of January 2010, all diesel engines were mandatorily required to meet specified NOX emission standards. Several heavy-duty engine manufacturers have changed their manufacturing strategies to meet the aforementioned requirements. Caterpillar and Navistar International have been exceptions in this case.
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Key Market Players:
- Envirotherm GmbH
- Johnson Matthey
- Haldor Topsoe
Global Selective Catalytic Reduction Catalyst Market: Growth Drivers
- Importance of Reducing Diesel Emissions
The importance of selective catalytic reduction systems across industrial boilers, utility boilers, and municipality solid waste boilers has played an integral role in market growth. These boilers help in reducing nitrogen oxides by a margin of 70% to 90%. This is an important consideration for research units looking to deploy these boilers to use. The growing relevance of waste management, coupled with the stellar investments made in this domain, has played a crucial role in market growth. Moreover, the seriousness of state authorities to dispose solid waste has also enabled the inflow of fresh revenues into the global selective catalytic reduction catalyst market.
- Use of Catalysis in Gas Turbines
In recent times, selective catalytic reduction catalysts have come to play an important role in smooth functioning of diesel engines. The ability to reduce nitrogen oxides to more useful substances has helped in popularising these catalysts across the automobile industry. Several research lines pertaining to the importance of selective catalytic reduction catalyst in the automobile industry have come to the fore in recent times. Gas turbines have become an component of the energy infrastructure of regions, and this trend shall play a vital role in market growth. The quest of multiple research entities to develop new technologies for manufacturing diesel locomotives shall drive sales across the selective catalytic reduction catalyst market.