The Latest Catalytic Converter Value Statistics Explained
There are 163.60 million vehicles that were in use in the U.S. in 2019, all having catalytic converters.
The statistic states that in the United States in 2019, there were approximately 163.60 million vehicles actively in use, all of which were equipped with catalytic converters. Catalytic converters are emissions control devices installed on vehicles to convert toxic gases and pollutants produced by the engine into less harmful substances before they are released into the atmosphere. This statistic highlights the widespread adoption of catalytic converters across the entire vehicle fleet in the U.S., indicating a significant effort towards reducing vehicle emissions and improving air quality in the country.
Rising precious metal prices saw rhodium – a key material in catalytic converters – reach an average price of 21,800 U.S. dollars per ounce in December 2020.
The statistic indicates that the price of rhodium, a crucial component in catalytic converters, rose significantly due to increasing prices of precious metals in December 2020. Specifically, the average price of rhodium reached 21,800 U.S. dollars per ounce during this time period. This rise in price reflects the impact of various factors such as supply and demand dynamics, market speculation, economic conditions, and geopolitical events on the precious metals market. The surge in the price of rhodium is notable as it signifies the importance of the metal in catalytic converters, which are essential components in reducing harmful emissions from vehicles. This statistic underscores the importance of monitoring and understanding the dynamics of the precious metals market for various industries and economic activities.
Catalytic converters contain precious metals like palladium, which had an average price of 2,198.45 U.S. dollars per ounce in 2020.
This statistic highlights the fact that catalytic converters, which are essential components in vehicles for reducing harmful emissions, contain valuable precious metals such as palladium. The average price of palladium was $2,198.45 per ounce in 2020, indicating the significant economic value these metals contribute to the production of catalytic converters. This information underscores the importance of recycling and proper disposal of catalytic converters to recover these valuable metals and minimize environmental impact. Additionally, fluctuations in the price of precious metals like palladium can have implications for the cost and availability of catalytic converters in the automotive industry.
Between 2016 to 2020, theft of catalytic converters increased in London by 104 percent, likely because of their value.
The statistic indicates that between the years 2016 and 2020, the theft of catalytic converters in London rose sharply by 104 percent. This significant increase is likely attributed to the high value of these components, which contain precious metals such as platinum, rhodium, and palladium. Criminals target catalytic converters for their scrap value, leading to a surge in theft incidents over the specified time period. This statistic underscores the importance of addressing the issue of catalytic converter theft through increased awareness, preventative measures, and enforcement efforts to mitigate these crimes and protect vehicle owners from financial losses and inconvenience.
In 2020, the price of platinum, another metal used in catalytic converters, averaged 879 U.S. dollars per ounce.
The statistic provided indicates that in the year 2020, the average price of platinum, a metal commonly used in catalytic converters, was 879 U.S. dollars per ounce. This information gives insight into the market value of platinum during that time period, which is an important indicator for industries that rely on platinum as a key material in their manufacturing processes. The average price provides a snapshot of the overall cost of platinum over the course of the year and can be used to analyze trends, make comparisons with other metals, and assess the economic impact on industries that heavily rely on platinum, such as automotive manufacturers and jewelry makers.
At least 13,000 catalytic converter thefts were reported in the U.K. in 2019 due to the high price of the precious metals they contain.
The statistic that at least 13,000 catalytic converter thefts were reported in the U.K. in 2019 highlights a significant rise in criminal activity driven by the value of precious metals. Catalytic converters are targets for theft due to the platinum, palladium, and rhodium they contain, which can be sold for profit. The high prices of these precious metals have led to an increase in thefts across the country as criminals seek to capitalize on the lucrative trade. This statistic underscores the economic incentives behind these thefts and the need for heightened security measures to protect against such crimes in the future.
The global automotive catalytic converter market was valued at $111.00 billion in 2019.
The statistic that the global automotive catalytic converter market was valued at $111.00 billion in 2019 indicates the total monetary worth of the market for catalytic converters used in automotive vehicles worldwide during that year. This value reflects the amount of revenue generated by the sale of automotive catalytic converters across various regions and sectors of the industry. The significant market value highlights the demand for catalytic converters, which are essential components for reducing emissions and ensuring compliance with environmental regulations in the automotive sector. Factors such as increasing automobile production, stricter emission standards, and growing awareness of environmental issues likely contributed to the market’s substantial valuation in 2019.
The global automotive catalytic converter market size is expected to reach 141.04 billion U.S. dollars by 2027.
The statistic states that the global automotive catalytic converter market is projected to grow significantly and reach a market size of 141.04 billion U.S. dollars by the year 2027. This growth is likely driven by various factors such as increasing demand for vehicles, stringent emission regulations worldwide, and advancements in catalytic converter technology. The automotive industry’s focus on reducing emissions and improving air quality is expected to fuel the demand for catalytic converters, which play a crucial role in reducing harmful emissions from vehicle exhaust gases. The forecasted market size indicates a substantial opportunity for businesses operating in the automotive catalytic converter industry to capitalize on this growth trend.
References
0. – https://www.www.statista.com
1. – https://www.www.theguardian.com
2. – https://www.www.bbc.com
3. – https://www.www.fortunebusinessinsights.com
