Vehicles are projected to fuel the growth of the global Catalytic Converter market at a CAGR of 7.5% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published a cooked research report on the “global catalytic converter market” that contains the information from 2023 to 2032. The Catalytic Converter market is estimated to register a CAGR of 7.5% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Catalytic Converter market—  Faurecia SA (France), Benteler International AG (Germany), Eberspächer Group (Germany), Calsonic Kansei Corporation (Japan), Yutaka Giken Company Limited (Japan), Tenneco, Inc. (U.S.), Futaba Industrial Co., Ltd. (Japan), Sango Co., Ltd (Japan), Magneti Marelli S.p.A (Italy), Bosal International N.V. (Belgium)

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Catalytic converter market Research Report

Catalytic converter Highlights

The global catalytic converter market is accounted for to register a CAGR of 7.5% during the forecast period and is estimated to reach USD 21756.47 Million by 2032.

A significant shift in the catalytic converter market involves the utilization of advanced materials and technologies to enhance the efficiency and resilience of these devices. To illustrate, manufacturers are investigating the potential use of new substances, such as nanomaterials, to boost catalytic activity and minimize the size and weight of converters. Additionally, there is a growing inclination towards developing modular catalytic converters that can be conveniently substituted, thereby decreasing maintenance expenses, and enhancing convenience for vehicle owners. Another trend is the heightened attention towards recycling and reusing materials during catalytic converter production to minimize waste and environmental impact. Furthermore, the expansion of the electric vehicle market is also stimulating innovation in the catalytic converter market, with manufacturers exploring the incorporation of catalytic converters in hybrid and plug-in electric vehicles to decrease emissions from combustion engine components.  The demand for catalytic converters as a crucial component in reducing harmful emissions from vehicles is expected to continue to rise due to increasingly stringent global emissions regulations. In addition to their use in gasoline-powered vehicles, catalytic converters are becoming more common in diesel engines and hybrid vehicles, driven by a growing awareness of the harmful effects of diesel emissions and the need to reduce greenhouse gas emissions. Overall, the catalytic converter market is expected to continue to innovate and adopt new technologies as a critical component in reducing harmful emissions from all types of vehicles.

Segment Analysis

The global Catalytic Converter market has been segmented based on product, material, and application.

Based on product, the market is segmented into Two-Way Catalytic Converter, Three-Way Catalytic Converter, Diesel Oxidation Catalyst, Others. Three-way catalytic converters are expected to experience significant growth during the forecast period. While two-way catalytic converters provide limited benefits, three-way converters can reduce emissions of carbon monoxide, hydrocarbons, and nitrogen oxides. As the number of internal combustion engine vehicles continues to rise, the three-way catalytic converter segment is poised for continued dominance in the coming years. In addition, replacement of heavy-duty commercial diesel engines in trucks and tractors with electric power is projected to lag, sustaining demand for three-way catalytic converters in those applications. The demand for three-way catalytic converters is surging due to intensifying emissions regulations across many countries and automakers' efforts to produce fewer polluting vehicles. In addition, growth in the auto industry and rising vehicle numbers are further propelling demand for catalytic converters. While diesel oxidation catalysts are also gaining traction with more diesel vehicles on the road, this segment is expanding at a slower pace than three-way catalytic converters. This is because diesel engines emit different harmful pollutants such as particulate matter and nitrogen oxides, requiring different after-treatment technologies to reduce them. Currently, the three-way catalytic converter segment is experiencing the strongest demand due to the growing need for cleaner and more fuel-efficient gasoline vehicles, fueled by tighter emissions mandates and increasing awareness of vehicle emissions' impacts on health and the environment. In summary, three-way catalytic converters are benefitting from a combination of regulatory, industry, and environmental influences cementing their role in purifying vehicle exhaust and enabling sustainable mobility. Overall demand for these converters is poised for substantial growth.

Based on material, the global Catalytic Converter market has been segmented into Platinum, Palladium, Rhodium, Others. The platinum-based catalytic converters held the largest market share for catalytic converters in 2022.

Further, based on the application, the market is segmented into Entry-Level Segment, Mid-Size Segment, Full-Size Segment. full-size segment probably retained a disproportionately large share of the catalytic converter market due to factors like vehicle characteristics, economic dynamics, and the challenges of transitioning from gas to electric power in large vehicles. The entry-level and mid-size segments grew their converter business as well, but likely at a slower pace than full-size vehicles.

Regional Analysis

The global Catalytic Converter market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Catalytic Converter market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Catalytic Converter market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Catalytic Converter market comprises of Middle East, Africa, and Latin America.

North America has been imposing stricter emissions standards that call for significant reductions in harmful pollutants such as hydrocarbons, nitrogen oxides, carbon monoxide, and particulate matter. Compliance with these more rigorous regulations necessitates the application of advanced catalytic converters and diesel after-treatment technologies, which in turn, have driven up the demand for these products.

Moreover, the demand for catalytic converters in the European market is being driven by the implementation of strict emission regulations by the European Commission, aimed at reducing vehicular emissions and improving air quality. Policies such as Euro 6d TEMP and the upcoming Euro 7 are compelling vehicle manufacturers to equip their vehicles with efficient catalytic converter systems to comply with these emission standards. Furthermore, the expanding automotive industry in Europe and the rising sales of vehicles, particularly in countries like Germany, France, Spain, and the UK, are contributing to the growth of the catalytic converter market in the region.

Additionally, Rising Concerns over Air Quality and Stringent Emission Regulations Drive the Catalytic Converter Market in Asia Pacific, Growing Automotive Industry and Increasing Sales of Vehicles Propel the Catalytic Converter Market in Asia Pacific are driving the Asia-Pacific region’s growth.

Furthermore, the rest of the world's market is divided into the Middle East, Africa, and Latin America. The market factors such as rapid urbanization and vehicle growth associated to the benefits of catalytic converter are positively contributing.

Key Findings of the Study

• The global Catalytic Converter market is expected to reach USD 21756.47 Million by 2032, at a CAGR of 7.5% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market, expanding urbanization, rising GDP, and industrialization, among other factors, China, India, and Japan are the major car manufacturing centers.


• Based on application, the full-size segment was attributed to holding the largest market in 2023, with an approximate market share of 7.5%.


• Faurecia SA (France), Benteler International AG (Germany), Eberspächer Group (Germany), Calsonic Kansei Corporation (Japan), Yutaka Giken Company Limited (Japan), Tenneco, Inc. (U.S.), Futaba Industrial Co., Ltd. (Japan), Sango Co., Ltd (Japan), Magneti Marelli S.p.A (Italy), Bosal International N.V. (Belgium), are the key market players.