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SAN FRANCISCO , April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Automotive Ceramics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
Edition: 9; Released: February 2022 Executive Pool: 1429 Companies: 67 - Players covered include 3M Company; CeramTec GmbH; CoorsTek, Inc.; Corning, Inc.; Dyson Technical Ceramic Ltd.; Elan Technology; IBIDEN CO., Ltd.; Kyocera Corporation; McDanel Advanced Ceramic Technologies LLC; Morgan Advanced Materials Plc; NGK Insulators Ltd.; Saint Gobain Performance Ceramics and Refractories and Others. Coverage: All major geographies and key segments Segments: Type (Functional Ceramics, and Structural Ceramics); Material (Alumina Oxide Ceramic, Titanate Oxide Ceramic, Zirconia Oxide Ceramic, and Other Materials); and Application (Automotive Engine Parts, Automotive Exhaust Systems, Automotive Electronics, and Other Applications) Geographies: World; United States ; Canada ; Japan ; China ; Europe (France ; Germany ; Italy ; United Kingdom ; Spain ; Russia ; and Rest of Europe ); Asia-Pacific (Australia ; India ; South Korea ; and Rest of Asia-Pacific ); Latin America (Argentina ; Brazil ; Mexico ; and Rest of Latin America ); Middle East (Iran ; Israel ; Saudi Arabia ; United Arab Emirates ; and Rest of Middle East ); and Africa .
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Global Automotive Ceramics Market to Reach $2 Billion by 2026 Automotive ceramics are fine ceramic materials that are extensively used in automobile components. Some of the typical applications of automotive ceramics are spark plug insulators, different types of sensors, and catalysts for emission control devices. In the recent years, automotive ceramics have become an indispensable part of motorized vehicle production that involves high level of automation along with strong focus on advanced technical equipment, design variants and high utility value. Motorized vehicle production relies on various technologies and industries such as ceramic, chemical, electrical, and electronics. The production also involves several component assemblies like engine, car body and power transmission, which are characterized with specific technical needs for materials used.
Ceramics are increasingly used in fuel injectors, sensors, high pressure pump, particulate filters, spark & glow plugs, and PTC heaters, among others. High-quality ceramic materials are the key constituents of several components incorporated in motorized vehicles. With their extensive spectrum of industrial applications due to desirable properties, ceramic materials are widely perceived as critical engineering materials. The superior physical, electrical and thermal properties have established ceramic materials as a reliable, cost-efficient and durable alternative to non-ceramic based options. Ceramic materials are recognized for their thermal insulation properties and hardness. Since traditional ceramic materials are intrinsically brittle, automotive component manufacturers are increasingly moving towards engineered and advances ceramics, representing integral components of automotive components. Global market for automotive ceramics continues to grow at a healthy rate led by the growing use of ceramics in automotive components and parts such as automotive engine parts, automotive electronics and exhaust systems, among others. The constantly growing application range of automotive ceramics and the growing production of automobiles globally are contributing to the market's growth. Strict government regulations to curb carbon dioxide emissions and adoption of fuel economy standards are driving demand for automotive ceramics. Advanced, thermal and technical ceramic materials are witnessing increasing traction in various applications in the automotive industry. Latest versions of these materials allow manufacturers to ensure high efficiency and component reliability.
Amid the COVID-19 crisis, the global market for Automotive Ceramics estimated at US$1.5 Billion in the year 2022, is projected to reach a revised size of US$2 Billion by 2026, registering a compounded annual growth rate (CAGR) of 5.6% over the analysis period. China represents the largest regional market for Automotive Ceramics, and is projected to reach US$596.3 Million by 2026, growing at a CAGR of 8% over the analysis period. China and Asia-Pacific countries are leading the global market for automotive ceramics. The regions are also expected to post the fastest growth through the analysis period, led by the stable increase in automobile production and the rising use of ceramics in the manufacture of various automotive components and parts. A growing number of automotive ceramic manufacturers are moving operations to Asia-Pacific countries, due to the growing manufacturing clout of developing economies and the rapid development of local markets. The emergence of Asian countries as low cost manufacturing hubs augurs well for the market. The positive economic outlook in Asian economies, rising consumer disposable incomes, and presence of several major suppliers of ceramic materials are contributing to the growing importance of Asia-Pacific in the automotive ceramics market. The presence of several leading automakers in the region also favors the automotive ceramics market. China spearheads growth in the global automotive ceramics market, with South Korea and India also ranking as prominent regional markets. More
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About Global Industry Analysts, Inc. & StrategyR™ Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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