Chicago, July 24, 2023 (GLOBE NEWSWIRE) -- The Cordierite Market is projected to reach USD 3.2 billion by 2028, at a CAGR of 5.1% from USD 2.5 billion in 2023, as per the recent study by MarketsandMarkets™. Cordierite is a commonly used material in automotive parts due to its excellent thermal properties and low thermal expansion coefficient. It is predominantly used in catalytic converters and diesel particulate filters (DPF) in the automotive industry. Cordierite offers several advantages that contribute to its market growth. It has excellent thermal stability, a low thermal expansion coefficient, and high resistance to thermal shock. These properties make it ideal for applications requiring high-temperature resistance, such as catalytic converters and DPFs. In addition, cordierite is cost-effective compared to alternative materials, which further drives its adoption in the market.
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Browse in-depth TOC on "Cordierite Market”
234 - Market Data Tables
44 - Figures
242 - Pages
List of Key Players in Cordierite Market:
- DENSO Corporation (Japan)
- Kyocera Corporation (Japan)
- Corning Inc. (US)
- TOTO Ltd. (Japan)
- NGK Insulators (Japan)
- Vesuvius Plc (UK)
- Elementis Plc (UK)
- CoorsTek (US)
- Unifrax (US)
- CeramTec (Germany)
Drivers, Restraints, Opportunities and Challenges in Cordierite Market:
- Driver: Growing demand from automotive and industrial sectors
- Restraint: High manufacturing costs
- Opportunities: Expansion of energy sector
- Challenges: Complex manufacturing processes and quality control
Key Findings of the Study:
- Sintered cordierite segment is projected to grow at fastest CAGR, in terms of value, during the forecast period
- Deodorization, deoxidation smoke extraction is projected to be the fastest growing application in the cordierite market, in terms of value
- Europe is expected to be the third-largest market for cordierite during the forecast period, in terms of value
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The growing automotive industry, along with increased demand for energy-efficient solutions, has contributed significantly to the growth of the global cordierite market. In addition, increasing environmental concerns and stringent emission regulations imposed by governments worldwide are driving the demand for cordierite-based catalytic converters and DPFs. These regulations aim to reduce harmful emissions from vehicles, particularly nitrogen oxides (NOx) and particulate matter (PM). Cordierite's excellent thermal stability and filtration properties make it an ideal material for these emission control systems.
Based on type, sintered cordierite is the largest segment. Sintered cordierite exhibits high mechanical strength, providing excellent structural integrity and resistance to mechanical stress. This makes it suitable for demanding applications where durability and reliability are essential, including automotive parts, electrical insulators, and industrial components. Sintered cordierite is chemically inert and resistant to many corrosive substances, making it suitable for applications involving exposure to harsh chemicals or aggressive environments.
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Based on application, automotive parts is the largest segment of cordierite. The application of cordierite in automotive parts plays a vital role in reducing emissions, enhancing engine performance, and improving fuel efficiency. Cordierite, known for its exceptional thermal shock resistance and high-temperature stability, finds extensive use in various automotive components. This segment will focus on the detailed analysis of cordierite's application in automotive parts, including its role in exhaust systems, catalytic converters, heat insulation components, and other critical automotive applications.
North America is the second-largest market for cordierite. This regional analysis delves into the market dynamics of sintered and porous cordierite, highlighting their respective applications and the impact of economic recession on the industry. Additionally, it explores the global trends shaping the cordierite market, such as the growth of the automotive sector, environmental regulations, technological advancements, and the increasing emphasis on sustainable solutions.
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