Global DeNOX Catalyst Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global DeNOX Catalyst Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

NOx is a term collectively used for nitrogen oxides, i.e., NO (nitric oxide) and NO2. (Nitrogen dioxide). DeNOx is the term used to indicate removal of nitrogen oxides. Various types of nitrogen oxides are produced as by-products in industries, refineries or from vehicles, and cause pollution. This NOx can be removed via Selective Catalytic Reduction (SCR) systems. DeNOx catalysts used in SCR systems convert the hazardous NOx into nitrogen and water. DeNOx catalyst is a chemical substance that can prompt reductant to react with NOx selectively at a certain temperature. DeNOx catalyst has wide application in SCR (selective catalytic reduction) of a power plant, cement plant, Refinery/Chemical Plant, steel plant, and transportation vehicle. SCR is a technology for the removal of nitrogen oxides. DeNOx catalyst is installed in a NOx removal system called SCR (Selective Catalytic Reduction), which reduces NOx from waste gas to N2 with reducing agents such as NH3 or urea.

Market Overview:

The latest research study on the global DeNOX Catalyst market finds that the global DeNOX Catalyst market reached a value of USD 3600.44 million in 2022. It’s expected that the market will achieve USD 4253.38 million by 2028, exhibiting a CAGR of 2.82% during the forecast period.

DeNOx Catalyst Market Drivers

In terms of region, the DeNOx Catalyst market is segmented into North America, Asia-Pacific, Europe, Latin America and Middle East & Africa. The growth of the market in the developed regions of North America and Europe can be contributed to the stringent norms imposed by the government to reduce the emission of NOx. With regulations in place, the huge coal-fired power generation sector in these countries will bethe biggest buyer in the industrial DeNOx systems and market. Most of the plants in the U.K. control NOx emissions by installing primary control systems such as low NOx burners. The Industrial Emission Directive (ICD) of the European Union may mandate installation of secondary NO-x -control systems such as SCR or SNCR in the plants in U.K. after 2016 to control the NOx emissions below 200 mg/Nm3. The stringent norms in North America and Europe imposed by governments and regulatory bodies have led to the minimization of the total permissible emission of NOx, which in turn is anticipated to propel the denox catalysts market. All these factors are expected to drive the growth of the North America and Europe market in the forecast period.

Market Opportunities

Innovation in the denitrification technologies, in past few years, has been a crucial factor in increasing the demand for DeNOx catalysts. Many companies have developed new techniques that can simultaneously reduce NOx, oxidizes CO and minimizes other pollutants too. These techniques are anticipated to boost the growth of the market. For instance, Cormetech, a leader in manufacturing high-quality SCR and environmental catalysts, in 2020 announced the success of its DustBuster SCR catalyst which has witnessed a rising demand as utilities worldwide recognize the benefits of DustBuster and are seeking improvement of their coal-fired generation SCR performance to meet new environmental emission standards in a cost effective manner. All in all, the development of the technology will drive consumption, which is beneficial to the development of the industry

Market Challenges

With major manufacturers and suppliers in the DeNOx Catalyst industry competing at globally, the intensity of competition within the DeNOx Catalyst industry has increased. The vendors adopt strategies like price premiums to stay competitive in the market. Meanwhile, the local vendors in developing nations are providing tough competition to the global players based on product pricing. The fierce competition is not conducive to the sustainable development of the industry. At the same time, small companies or small retailers enter the business consequently as venturing into a DeNOx Catalyst business does not require immense capital or investment. However, this leads to the proliferation of sub-standard or duplicate products which then hampers the competitive scenario in the market as established DeNOx Catalyst manufacturers are compelled to lower the price of their products, which ultimately impacts their profit margins and sales volumes. The fierce competition is not conducive to the sustainable development of the industry.

Region Overview:

Asia Pacific had the highest growth rate of all regions

Company Overview:

The top three companies are Johnson Matthey, Hitachi Zosen, BASF with the revenue market share of 10.58%, 8.34%, 7.04% in 2020.

Segmentation Overview:

Among different product types, Honeycomb Type segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Power Plant segment occupied the biggest share from 2017 to 2022.

Key Companies in the global DeNOX Catalyst market covered in Chapter 3:

CRI
Envirotherm GmbH
Tianhe (Baoding)
Hitachi Zosen
Chongqing Yuanda
Cormetech
GUODIAN TECH
Jiangsu Wonder
BASF
China Huadian Group
Beijing Denox Environment & Technology
JGC C&C
Tuna
Datang Environmental Industry Group
Johnson Matthey
Fengye Group
Dongfang KWH
Hailiang
Haldor Topsoe
Ceram-Ibiden
Shandong Gem Sky
Seshin Electronics

In Chapter 4 and Chapter 14.2, on the basis of types, the DeNOX Catalyst market from 2018 to 2029 is primarily split into:

Honeycomb Type
Flat Type

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the DeNOX Catalyst market from 2018 to 2029 covers:

Power Plant
Cement Plant
Refinery Plant
Steel Plant
Transportation Vehicle
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)