The auto catalyst market is facing a profound transformation

The autocatalyst market is slowly recovering

Autocatalyst market is slowly recovering

Market participants said that the auto catalyst market is slowly recovering with the auto market

"Demand for autocatalysts has fallen sharply over the past two years due to semiconductor shortages," said Christian Juz, senior vice president of BASF's Automotive Emissions Catalysts business

Johnson Matthey is a supplier of catalysts for new vehicles

Sebastian Merrick, Solvay's vice president of technology solutions, said that despite clearly unmet demand, the automotive industry is likely to be the only industrial/consumer market that has not fully recovered to pre-COVID-19 levels

Another challenge that has emerged recently is the rise in fuel prices triggered by higher oil prices

The rise of new energy vehicles brings fundamental changes

Goodwin believes that many global challenges are currently affecting the demand for auto catalysts, such as environmental protection

Alternate fuels are slowly replacing traditional fuels, and they may eventually replace gasoline, Jowz said

Merrick said Solvay would be ready for a market where emissions from a hydrogen-fueled or electronic-fueled combustion engine would need to be equipped with an exhaust aftertreatment system as usual

Andy Walker, director of technical marketing at Johnson Matthey, said that the penetration of pure electric vehicles is increasing, and it will continue to increase in the passenger car market in the future, and it will also start to increase in the truck market

Tighter regulatory policies drive industry innovation

Regulation is another factor driving innovation in the autocatalyst industry, market players said, as tougher fuel and emissions rules are reshaping the future of the industry

Merrick said: "Future exhaust emission regulations will require longer lasting performance under real driving conditions

Goodwin said the clean air business remained Johnson Matthey's largest business and the company would continue to invest in innovation to meet tougher regulatory requirements to be introduced in the European Union, the United States and China and India