Reports And Data

Automotive Ceramics Market Size – USD 2,010.3 Million in 2020, Market Growth – at a CAGR of 5.8%, Market Trends – Introduction of advanced technologies

NEW YORK, NY, UNITED STATES, September 9, 2022 /EINPresswire.com/ -- Increasing demand for fuel-efficient and light-weight automotive is a key factor driving market revenue growth

The global Automotive Ceramics Market size is expected to reach USD 3,160.4 Million in 2028 and register a revenue CAGR of 5.8% over the forecast period, according to the latest report by Reports and Data. Stringent regulations for fuel emissions by governments worldwide are driving market revenue growth. Air pollution is becoming a growing concern and vehicles are a major contributor to rising air pollution levels. The United Nations Economic Commission for Europe (UNECE) adopted a new, stringent vehicle emissions standard in January 2020. The new regulation that includes the Worldwide Harmonized Light Vehicles Test Procedure (WLTP) has made it easier for governments around the world to implement advanced emissions test to determine the levels of pollutants, carbon dioxide emissions, and fuel consumption. Automotive OEMs are focused on using innovative materials, such as ceramics that help to curb vehicle emissions. Use of ceramics in exhaust systems provides a highly promising method for purifying vehicle emissions and lowering carbon footprint.

Each automobile component has its own set of technical necessities. The materials used to produce them are chosen are based on cost-effectiveness, energy efficiency, and adequate reliability. Ceramic materials' excellent thermal and dielectric properties make them ideal for mechanical seals, valves, a range of sensors, and bearings. Ceramics are less expensive than metals and more durable than plastics. Components produced from ceramics possess qualities, such as excellent mechanical strength, high-edge stability, abrasion resistance, dimensional stability, and good chemical corrosion resistance, which in turn, fuels demand for ceramics in automotive for emission control devices, spark plug insulators, and heat sensors, among other applications.

Major companies profiled in the market report are Kyocera Corporation, CeramTec, NGK Spark Plug Co., Ltd., CoorsTek, Inc., Morgan Advanced Materials, Saint-Gobain Ceramics & Plastics, Inc., Ceradyne, Corning Inc., Elan Technology, and Venator Materials Plc.

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Some Key Highlights From the Report

• Passenger vehicles segment accounted for the largest revenue share in 2020. Passenger vehicle sales have risen due to growing population and rising disposable income. Ceramic components and parts are lightweight, can withstand high temperatures, and have excellent wear and corrosion resistance properties. Growing demand for improving fuel efficiency of passenger cars is driving segment revenue growth.
• Zirconia segment is expected to expand at significant revenue CAGR in the global automotive ceramics market over the forecast period. Demand for zirconia in production of automotive exhaust and engine systems is increasing due to its high resistance to crack propagation. Excellent oxide ion conduction property of zirconia at high temperatures, allow it to be used as an electrolyte in oxygen sensing applications.
• Automotive engine parts segment is expected to register a rapid revenue growth rate over forecast period. This is due to the growing use of ceramics in manufacturing of glow plugs, electronic fuel pumps, high-pressure pumps, spark plugs, sealing & insulation rings, valves, and other components.
• Market in North America is expected to register a considerable revenue growth rate in the global automotive ceramics market over the forecast period, owing to growing demand for automotive, especially passenger cars and stringent regulations to control vehicular emissions. Presence of automotive manufacturers like General Motors and Ford support market revenue growth in the region.

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 For the purpose of this report, Reports and Data has segmented the global automotive ceramics market based on type, vehicle type, material, application, and region:

Type Outlook (Revenue, USD Million; 2018-2028)

Functional Ceramics
Structural Ceramics

Vehicle Type Outlook (Revenue, USD Million; 2018-2028)

Passenger Vehicles
Commercial Vehicles

Material Outlook (Revenue, USD Million; 2018-2028)

Alumina Oxide
Titanate Oxide
Zirconia Oxide
Others

Application Outlook (Revenue, USD Million; 2018-2028)

Automotive Electronics
Automotive Engine Parts
Automotive Exhaust Systems
Others

Regional Outlook (Revenue, USD Million; 2018-2028)

North America
Europe
Asia Pacific
Latin America
MEA

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Key Advantages of Automotive Ceramics Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Automotive Ceramics industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Automotive Ceramics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

Nikhil Morankar
Reports and Data
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