The automotive ceramics market is projected to register CAGR of 4.4% in terms of value, from 2019 to reach USD 2.29 Billion by 2026
NEW YORK, NY, UNITED STATES, December 21, 2021 /EINPresswire.com/ — The global automotive ceramics market is expected to reach USD 2.29 Billion by 2026, according to a new report by Reports and Data. This is owing to the increasing use of ceramics as a substitute to metals and plastics by vehicle producers and automotive component manufacturers, for its mechanical strength and thermal and electrical properties.
The growth of the automotive market is expected to stimulate market demand in the forecast period. In 2018, motor vehicles and their parts generated a revenue USD 518.10 billion of the USD 18.566 trillion or 28.0% in total GDP of the U.S. According to the Organization International des Constructers automobiles (OICA), the U.S. is the second-largest producer of automobiles, after China, in the number of automotive produced annually. In 2017, the U.S. had a total yearly production of 11.2 million passenger and commercial vehicles, whereas China’s annual production was 29.0 million.
Key participants include CoorsTek Inc., Kyocera Corporation, Morgan Advanced Materials PLC, Saint-Gobain Ceramic Materials, Ibiden Co. Ltd., Ceradyne, Momentive Performance Materials Inc., CeramTec GmbH, Oerlikon Surface Solutions AG, and Elan Technology, among others.
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The product demand is growing at a steady rate owing to stringent government regulations about emission control coupled with fuel economy standards. Increasing instances of respiratory and lung diseases in both adult and aged population, due to air pollution caused by vehicular emissions, which are expected to boost the market growth in the forecast period.
Additionally, the ability of the product to withstand extreme conditions, including high temperature, pressure, corrosion, and radiation is anticipated to fuel the growth of the market in the upcoming years.
Further key findings from the report suggest
By type, functional ceramics held a larger market share in 2018 and is expected to grow at a rate of 4.7% in the forecast period. This is due to the increasing use of the ceramics in sparks and glow plug, knocking sensors, PTC heaters, parking distance control, oxygen sensors, and fuel injection systems, among others.
By material, alumina oxide contributed to the largest market share in 2018 and is expected to grow at a rate of 4.2% in the forecast period. This material is the most widely used ceramics material, due to its superb material characteristics such as high mechanical strength, high electrical insulation, high wear, and chemical resistance.
The Asia Pacific Region held the largest market share in 2018 and is expected to grow at a rate of 4.8% in the forecast period. Increasing demand for automotive ceramics in automotive components from automobile manufacturers, especially in developing countries, such as China and India, is forecasted to drive the product demand in the future.
In July 2018, CoorsTek, a leading market player, announced the commencement of a new research and development (R&D) center in Uden, The Netherlands. This new R&D center is closely associated with CoorsTek R&D teams in the U.S. and Japan and is committed to developing technical ceramics capabilities to support CoorsTek customers across the globe.
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For the purpose of this report, Reports and Data have segmented the global automotive ceramics market on the basis of type, material, application, and region:
Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Material Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Automotive Engine Parts
Automotive Exhaust Systems
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
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