Environmental legislation will drive increasing growth in sales of platinum group metals (pgms) emissions-control catalysts and a slowing in demand in European markets for chemical processing catalysts, it has been claimed.

According to figures from Frost & Sullivan's European Markets for Catalysts report, the market for emissions control catalysts across Europe will grow from its 2006 level of $2,500 million to $3,484.2 million by 2013.

The chemical processing catalyst market will show more moderate growth, the financial analysis firm predicts, reaching $1,277.3 million from last year's figure of $1,020 million.

Sowmya Ramaswami, Research Analyst with Frost & Sullivan, told tradingmarkets.com: "Legislative emphasis on the reduction of nitrogen oxides, hydrocarbons and other particulate matters from automobile exhausts and industrial plants are set to influence the European emission-control catalyst market in a big way.

"As a result of legislative directions, it is becoming essential for industries to use catalysts to minimise the volumes of contaminants discharged."

Legislation deemed to be driving demand for pgm emissions-control catalysts includes the Clean Air for Europe programme and the Euro IV and Euro V standards.

Source:

Legislative Influences Catalyse Growth in European Catalysts Market, 16/10/07
http://www.tradingmarkets.com/.site/news/Stock%20News/699332/

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