- Catalytic converter toll refining is a specialized process in which third-party service providers extract valuable precious metals such as palladium, platinum, and rhodium, from used catalytic converters on behalf of clients, typically for reuse or resale
- The catalytic converter toll refining market is witnessing steady growth, driven by increasing vehicle scrappage rates, high demand for precious metals, and stringent emission regulations. In addition, rising environmental awareness, the economic benefits of metal recovery, and technological advancements in refining processes are further fueling market expansion
- North America is expected to dominate the catalytic converter toll refining market with a share of 35.5%, due to the high volume of end-of-life vehicles and stringent emission regulations in the region
- Asia-Pacific is expected to be the fastest growing region in the catalytic converter toll refining market during the forecast period with a share of 30.5%, due to rapid industrialization, expanding automotive production, and increasing demand for resource recovery in the region
- Passenger vehicles segment is expected to dominate the market due to high global production and sales volume of passenger cars, which results in a larger number of spent catalytic converters entering the recycling stream. In addition, strict emission regulations in regions such as the U.S. and Europe have increased the use of advanced catalytic converters in these vehicles, further boosting the demand for toll refining services to recover valuable metals such as palladium, platinum, and rhodium
