- In September 2024, the growing demand for hybrid vehicles, alongside slower electric vehicle adoption, led to a surge in the need for platinum group metals, which are crucial for automotive catalysts
- In November 2024, the automotive catalyst market was estimated to grow at a 3.8% CAGR from 2024 to 2030, driven by expansion opportunities across North America, Europe, and Asia-Pacific
- In July 2023, BASF SE announced plans to expand its catalyst production facility in Ludwigshafen, Germany, aiming to double the output of eco-friendly automotive catalysts. This expansion aligns with BASF's strategy to strengthen its presence in the automotive sector and develop advanced emission control technologies. The initiative supports global efforts to meet stricter environmental regulations
- In August 2022, Denso Corporation revealed its work on innovative catalyst technologies to enhance hybrid vehicle efficiency. This initiative is part of the company’s strategy to develop emission-reducing solutions. The advancement aims to help automakers comply with tightening fuel economy and environmental regulations
- In April 2022, Tata Motors announced a USD 3.08 billion investment in its passenger vehicle segment over five years, which is expected to drive higher demand for automotive catalysts in India
