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Selective Catalytic Reduction (SCR) Catalyst Market

Selective Catalytic Reduction (SCR) Catalyst Market

Selective Catalytic Reduction (SCR) Catalyst Market Global Industry Forecast Report By Type (DeNOx, DeSOx), By Application (SCR Catalysts for Automotive, SCR Catalysts for Power Plants, SCR Catalysts for Refinery Plants, SCR Catalysts for Steel Plants) - Regional Forecast 2021-2031

Selective Catalytic Reduction (SCR) Catalyst Market

Selective Catalytic Reduction Catalyst Market Outlook

Selective catalytic reduction (SCR) catalyst market value is anticipated to increase at a CAGR of 9% over the forecast period of 2021 to 2031. In 2020, SCR catalyst business valuation surpassed US$ 1.8 Bn, which is equivalent to 8% share of the global catalyst market. Selective catalyst reduction volume sales are anticipated to reach 1,150 KT by 2031-end.

Porous ceramic materials such as titanium oxide are used as a support to manufacture SCR catalysts. Unlike NO? storage catalysts (NSCs), SCR is more comfortable in terms of operation under excess oxygen with ammonia used as a reductant.

Shortfall in electricity generation through conventional resources such as natural gas, oil, and nuclear power is creating a lucrative growth scenario for coal-fired thermal power plants. Since most countries have strict emission limits for nitrogen oxide (Nox), Nox control (DeNOx) is significantly deployed.

Selective catalytic reduction catalyst technology is cost-effective as compared to other NOx removal technologies. Fact MR, a market research and competitive intelligence provider, analyzed that demand for SCR catalyst technologies in coal-fired thermal power plants is growing due to their economic benefits

Selective Catalytic Reduction (SCR) Catalyst Market Size (2020) US$ 1.8 Bn
Market Forecasted Value (2031) US$ 4.4 Bn
Global Market Growth Rate 9% CAGR
Market Share of Top 5 Companies 55%

SCR Catalyst Consumption Analysis (2016-2020) Vs Market Outlook (2021-2031)

The global selective catalytic reduction (SCR) catalyst market witnessed a strong growth rate of 9.4% over the historical period, with sales pegged at around US$ 1.8 Bn in 2020.

Over the past half-decade, several emission standard changes related to emission control for industries have been made, which has defined the need for energy emission control technology. Emission regulations for industries around the world have become more stringent, requiring continued catalyst activities, selectivity improvement, and durability.

Worldwide production of automotive is increasing due to speculating demand. Nowadays, automakers are facing challenges with respect to designing and manufacturing vehicles complying with dynamic emission standards. Thus, for improving vehicle performance, the transport sector is moving towards the use of emission control catalysts.

Catalysts are prominent materials being used in the exhaust systems of transport vehicles and off road equipment. With stringent government regulations towards emission control, demand for selective catalytic reduction (SCR) is also increasing.

Based on the aforementioned trends, the global selective catalytic reduction catalyst market is expected to expand at a CAGR of 9% through 2031.

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What are the Prominent Driving Factors of the SCR Catalyst Business?

Efficacy to reduce NOx emissions from power-generating equipment, including boilers & turbines, furnaces, heaters, and reciprocating engines has made SCR catalysts the ideal choice among end users, along with being a cost-effective technology. Attributed to this, power plants have been identified as the largest consumers of SCR catalysts, and are poised to maintain their reign throughout the forecast period, accounting for over 1/3 global market share.

Moreover, high dependability of Asian economies on coal-fired thermal power plants to fulfil their growing electricity demand is anticipated to boost the SCR catalyst market. Furthermore, increasing demand for de-nitrification in petroleum refineries across the world, owing to stringent emission control regulations, is poised to result in high demand for SCR catalysts over the forecast period.

SCR catalyst market regional analysis by Fact.MR

Country-wise Analysis

Why is China the Centre of Attraction for SCR Catalyst Suppliers?

China is considered the largest market for selective catalytic reduction (SCR) catalysts. In terms of value, the market is anticipated to progress at a CAGR of 8.7% over the forecast period of 2021-2031.

China accounted for over half of the additional new coal-fired thermal power plants in 2020, due to which, East Asia has driven consumption of SCR catalysts during the historical period, and is poised to maintain its dominance over other regions during the forecast period.

Market growth is attributed to China’s dominant position in the renewable sector, and its large investments in renewable energy each year, which is more than the United States and Europe combined.

What Makes Ireland a Prominent Destination for Selective Catalytic Reduction Catalyst Manufacturers in Europe?

Ireland is the largest contributor to total diesel passenger car sales in Europe. In 2020, Over 43% of overall passenger car sales in Ireland were diesel-based, whereas, in Germany it was only 29%. 

Diesel engines emit relatively large amounts of NOx and diesel particulate matter as compared to gasoline engines. One of the reasons behind growing penetration of diesel engines in European countries, especially heavy-duty and light-duty vehicles, is their fuel efficiency.

Owing to growing adoption of diesel engines in the automobile industry across Ireland, demand for SCR catalysts is anticipated to expand at a CAGR 7.3% over the forecast period.

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Category-wise Analysis

Why is the DeNOx Type Showing Highest Potential in the Global Market?

Globally, DeNOx segment value share contribution to overall market revenue is higher as compared to DeSOx. This is attributed to strong demand for DeNOx across power plants due to its high performance, high emission reduction capability, and highly temperature corrosion properties.

However, DeNOx is expected to lose 200 BPS by 2031 as compared to that in 2021, but still account for over 81% value share.

In terms of market value, revenue from DeNOx is projected to expand at a CAGR of 8.3% from 2021 to 2031; whereas, demand for DeSOx is anticipated to expand at a CAGR of 9.4% in value terms, due to increasing demand and awareness for emission control, clean air, and environmental friendly solutions across the globe

Why are SCR Catalysts Used Substantially in Power Plants?

Demand for SCR catalysts in power generation plants is growing on the back of rising need for emission control of effluents. The catalyst used in power plants holds over 40% of overall market share, and is anticipated to create an absolute $ opportunity of over US$ 1 Bn by 2031.

In terms of market value, revenue from power plants is projected to expand at a CAGR of 11.1%, whereas, the steel plant and cement plant segments are anticipated to expand at CAGRs of 7.4% and 8.9%, respectively, through 2031.

SCR catalyst market value share and opportunity analysis by application analysis by application from Fact.MR

Competitive Landscape

In order to sustain existing market competition, majorly from European players, manufacturers have strategically located their production plants in the Asia Pacific region to reduce raw material procurement costs and additionally-imposed custom duties. In sync with this, major partnerships and long-term supply agreements have been observed in the market. New production plants are being set up, and the production capacities of existing plants are being ramped up.

  • For instance, in June 2018, BASF and Citrine Informatics collaborated to use artificial intelligence (AI) to accelerate the development of new environmental catalyst technologies.
  • Similarly, in Feb 2020, Haldor Topsoe launched the TITAN steam reforming catalyst series with boosted reliability and efficiency.

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SCR Catalyst Industry Report Scope

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis Value in US$ Mn, Volume in Kilo Tons
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East Africa
Key Countries Covered
  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • France
  • Italy
  • U.K.
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • South Africa
Key Market Segments Covered
  • By Type
  • By Application
  • Region
Key Companies Profiled
  • BASF
  • Ceram-Ibiden
  • Cormetech
  • Envirotherm GmbH
  • Fengye Group
  • Hailiang
  • Haldor Topsoe
  • Hitachi Zosen
  • JGC C&C
  • Johnson Matthey
  • Seshin Electronics
  • Tuna Corporation
Pricing Available upon Request

Selective Catalytic Reduction Catalyst Market Key Segments

  • SCR Catalyst Market by Type

    • DeNOx
    • DeSOx
    • Others
  • SCR Catalyst Market by Application

    • SCR Catalysts for Automotive
    • SCR Catalysts for Power Plants
    • SCR Catalysts for Cement Plants
    • SCR Catalysts for Refinery Plants
    • SCR Catalysts for Steel Plants
    • Others
  • SCR Catalyst Market by Region

    • North America SCR Catalyst Market
    • Latin America SCR Catalyst Market
    • Europe SCR Catalyst Market
    • East Asia SCR Catalyst Market
    • South Asia SCR Catalyst Market
    • Oceania SCR Catalyst Market
    • Middle East & Africa SCR Catalyst Market

- FAQs -

In 2020, the global selective catalytic reduction catalyst market surpassed a valuation of 1.8 Bn.
Sales of SCR catalysts are projected to increase at a CAGR of over 9% during 2021 – 2031.
Sales of SCR catalysts increased at a CAGR of 9.4% during 2016 – 2020.
High technological developments in the automotive industry are compelling automotive component manufacturers to cope with the trends and requirements of modern vehicles.
Increased infiltration of diesel engine vehicles is driving overall market demand.
Tier-1 manufacturers of selective catalytic reduction catalysts account for over 65% share in the market.
Top 5 countries driving demand for SCR catalysts are China, Japan, the U.S., India and Germany.
North America accounted for nearly 18% of global selective catalytic reduction catalyst demand in 2020.
The European market for selective catalytic reduction catalysts is projected to expand at a CAGR of 8.7% during 2021 – 2031.

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