The automotive three-way catalytic converter (TWC) is an emission-controlling device fitted in the exhaust of a gasoline-powered vehicle. The automotive TWC converter is utilized to reduce nitrogen oxide, carbon monoxide, and hydrocarbons present in the exhaust of the vehicle. The automotive TWC converter is made of a honeycomb structure loaded with platinum group metals such as platinum, palladium, and rhodium.
Vehicle pollution is rising at an alarming rate, stringent pollution norms are being enacted by governments to curb pollution, thus driving the automotive TWC converter market. The penetration of gasoline-powered vehicles is increasing, as they emit lesser pollution than diesel-powered vehicles. The U.K. has levied 50% surcharge to park a diesel car in London in order to discourage the usage of diesel vehicles. Financial incentives to promote the sale of low emission vehicles such as hybrid and plug-in hybrid vehicles are also expected to boost the demand for automotive TWC converters. North America witnessed high penetration of gasoline-powered vehicles.
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Adoption of U.S. 2010 pollution norm compels all gasoline-powered vehicles to be fitted with TWC converters. Countries in Latin America such as Brazil and Mexico have proposed to adopt the Euro 6 equivalent standards. Rising awareness about pollution in developing countries is anticipated to boost the demand for TWC converter. China and India have proposed to adopt the China 6 and Bharat stage 6 emission norms, respectively, by 2020, which in turn is expected to fuel the demand for automotive TWC converters. Automotive TWC converters are expected to be used in unison with gasoline particulate filters in order to comply with Euro 6 emission norms. TWC converters are thus likely to witness a high demand even during advanced emission stages. Rising demand for hybrid and plug-in hybrid vehicles and usage of gasoline fuel in such vehicles is fueling the demand for automotive TWC converters.
Automotive TWC converters do not find application in diesel-powered and battery electric vehicles, which is a restraining factor for the market.
The global automotive TWC converter market can be segmented based on vehicle, catalyst material, sales channel, and region
Key players operating in the global automotive TWC converter market include Johnson Matthey Calsonic Kansei, Eberspacher GmbH, Katcon, and Friedrich Boysen GmbH & Co. KG.