New $2.6 billion market for platinum and palladium

According to a new report by GIA the global market for heavy-duty diesel (HDD) catalysts is forecast to reach $2.6 billion by the year 2017, spurred by rigorous emission control regulations for heavy-duty on-road and off-road vehicles across the world.

Catalysts with a high palladium content are fast replacing platinum catalysts in gasoline exhaust systems, while demand for platinum increased due to its increasing usage in catalysts for diesel exhaust systems.

GIA says in its report technological advancements, improvement in diesel engine quality, drive towards fuel efficiency, durability and reduction of toxic environmental pollutants will have a positive bearing on the long-term growth of HDD catalysts.

Spiraling automobile registrations, hectic industrialization and shift in focus from developed, western countries to developing markets worldwide will provide a huge fillip to the market for emission control catalysts.