Emission Control Catalyst for Marine Market Size, Share, Trends, Industry Analysis : Research During The Ongoing COVID-19 And Research Methodology By Forecast To 2031

The global emission control catalyst for marine market is anticipated to expand at a steady 5.5% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Growing marine fleet size, along with increasing demand for shipping transportation is expected to drive the market over the assessment period.

Catalytic converters remove hydrocarbons, nitrogen oxides and carbon monoxide from exhaust fumes in marine engines. The International Maritime Organization (IMO) has implemented strict regulations for harmful emissions from vessels based on their date of engine installation. New marine engines are equipped with selective catalytic reduction catalyst (SCR) to reduce NOx emissions which is fueling the demand for marine catalysts.

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Manufacturers of marine catalysts are offering a wide variety of emission control products and proprietary technologies for emission reductions in marine vessels. They are focusing on providing marine catalysts that comply with existing and anticipated emission regulations.

Driven by this, the global emission control catalyst for marine market is expected to surpass US$ 1,531.3 Mn by the end of 2031.

As per FMI, the market is predicted to be dominated by China, and the trend is projected to continue over the forecast period. Many manufacturers are designing catalysts to comply with China’s marine engine emission standard, which is expected to continue boosting sales in the market.

Key Takeaways:

By product type, demand for diesel-based emission catalysts is expected to surge at a 5.5% CAGR over the forecast period.
By application, sales in the fishing boat segment are projected to account for more than 54% of the total market share in 2021.
The OEM segment is anticipated to grow at a 4.3% CAGR during the assessment period.
Sales of emission control catalyst for marine in the U.S. are projected to increase at a 5.1% CAGR during the assessment period.
China is anticipated to emerge as a key market in the East Asia emission control catalysts for marine market over the forecast period.
In Southeast Asia, demand in the Indonesia market will grow at a 6.1% CAGR through 2031.
Japan and South Korea will collectively account for 29.3% of the total emission control catalyst for marine Market share through 2021.

Competitive Landscape

Key players for marine catalysts are aiming at upgrading their existing production facilities as well as expanding their manufacturing capabilities to create new opportunities. Companies are also focusing on collaborations and partnerships with other manufacturers to leverage new products and technologies to increase their profitability as well as their geographic presence. For instance:

In July 2021, Haldor Topsoe formed a joint venture with Yanchang Petroleum Co. Ltd with the aim of delivering locally produced catalysts to the Chinese market.
In Dec 2021, the American Bureau of Shipping granted Alfa Laval the first marine approval for operating boilers on methanol.

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Emission Control Catalyst for Marine Market By Category

By Product Type:

Diesel-Based Emission Catalyst
- Diesel Oxidation Catalyst (DOC)
- Selective Catalytic Reduction Catalyst (SCR)
- Catalyzed Soot Filter/Diesel Particulate Filter
- Ammonia Oxidation Catalyst (AMX)
- NOx Absorbers
Gasoline-Based Emission Catalyst
- Palladium based catalyst
- Rhodium based catalyst
- Platinum based catalyst