Increasing use of automotive ceramics as an alternative to metals & plastics and stringent regulations for gas emissions worldwide to drive global automotive ceramics market through 2024
According to TechSci Research report, “Global Automotive Ceramics Market By Material, By Application, By Region, Competition, Forecast & Opportunities, 2024”, the global automotive ceramics market is expected to grow at a CAGR of around 5% during the forecast period. Automotive ceramics are witnessing adoption on account of their light weight, durability and resistance to corrosion. The stringent government policies regarding emission of greenhouse gases and other harmful pollutants along with the rising focus on electric and hybrid vehicles are further fueling growth in the market. However, higher costs of automotive ceramics are likely to hamper the growth of the market during forecast period.
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The global automotive ceramics market is segmented based on material, application, region and company. Based on material, the market can be fragmented into Alumina Oxide Ceramics, Titanate Oxide Ceramics, Zirconia Oxide Ceramics and Others. The alumina oxide ceramics holds a significant market share owing to their efficient functioning under high temperature, high pressure, radiation and corrosion. The zirconia oxide segment is anticipated to register the highest CAGR during the forecast period attributable to toughness, strength, chemical resistance and other properties. Based on application, the market can be categorized into Automotive Engine Parts & Accessories, Automotive Exhaust Systems, Automotive Electronics, Catalyst & Support and Others. The automotive engine parts & accessories segment dominates the market due to the light weight, insulation and resistance properties of automotive ceramics.
Kyocera Industrial Ceramics Corporation, Murata Manufacturing Co. Ltd., Momentive Performance Materials Inc., CeramTec GmbH, Oerlikon Surface Solutions AG, Saint-Gobain Ceramics Materials, McDanel Advanced Ceramic Technologies, Dyson Technical Ceramic Ltd., IBIDEN CO., Ltd., Blasch Automotive Ceramics, Inc. and others are some of the leading players operating in global automotive ceramics market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“Asia-Pacific is expected to be the fastest growing market for automotive ceramics during the forecast period, owing to the rapid economic expansion in the region. Moreover, automotive ceramics manufacturers are shifting to this region on account of developing local markets and greater manufacturing competitiveness of the developing economies. Additionally, increase in automotive manufacturing activities coupled with the region’s emergence as a cost-effective production hub is further expected to drive Asia-Pacific automotive ceramics market through 2024.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Automotive Ceramics Market By Material, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global automotive ceramics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global automotive ceramics market.
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