Chicago, April 15, 2024 (GLOBE NEWSWIRE) -- The Global Automotive Ceramics Market is expected to grow at a CAGR of 5.7% during the forecast period, from an estimated USD 2.4 billion in 2023 to USD 3.2 billion by 2028, as per the recent study by MarketsandMarkets™.The demand for automotive ceramics is on the rise due to the industry's focus on lightweight, durable materials for enhanced fuel efficiency, emission control, and improved vehicle performance. With growing adoption of electric vehicles and stringent environmental regulations, ceramics play a pivotal role in critical components like exhaust systems, engine parts, and automotive electronics, driving the overall market expansion.
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Browse in-depth TOC on “Automotive Ceramics Market”.
217 - Market Data Tables
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List of Key Players in Automotive Ceramics Market:
- Kyocera Corporation (Japan)
- Ceramtec GmbH (Germany)
- Niterra (Japan)
- Coorstek Inc (US)
- Morgan Advanced Materials (UK)
- Saint-Gobain Ceramic. (US)
- Elan Technologies (US)
- 3M (US)
- Ibiden Co., Ltd. (Japan)
- Corning Incorporated. (US)
Drivers, Restraints, and Opportunities in Automotive Ceramics Market:
- Driver: Increased use as an alternative to metals and plastics
- Restrain: Higher cost than the metals and alloys
- Opportunity: Development of low-cost production technologies
- Challenge: Issues pertaining to recyclability and reparability
Key Findings of the Study:
- Zirconia Oxide, by material, are expected to be the most significant automotive ceramics market segment during the forecast period.
- Passenger vehicle is anticipated to be the most significant automotive ceramics market segment, by vehicle type, during the forecast period.
- Automotive ceramics is anticipated to be the fastest-growing automotive ceramics market segment, by application, during the forecast period.
- Asia Pacific is expected to be the fastest-growing region in the global automotive ceramics market, by region, during the forecast period.
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The automotive ceramics market, by material, is segmented into alumina oxide, titanate oxide, zirconia oxide, and others. Globally, “zirconia oxide" material segment commands the largest market share in the automotive ceramics market due to several compelling reasons. Zirconia oxide's pre-eminence is attributed to its exceptional properties, including high mechanical strength, thermal resistance, and low thermal conductivity. These characteristics make it a preferred choice for critical automotive components such as sensors, spark plugs, and exhaust systems. Zirconia oxide's resistance to corrosion and wear, coupled with its ability to withstand extreme temperatures, enhances the durability and performance of these components, aligning with the automotive industry's demand for high-quality materials. Moreover, the increasing adoption of electric vehicles, where zirconia oxide finds applications in battery systems, further propels its prominence.
Automotive ceramics market, by vehicle type is segmented into passenger vehicle, and commercial vehicle. Passenger vehicle holds a dominant position in the automotive ceramics market for several compelling reasons. The passenger vehicle segment experiences continuous growth globally, spurred by increasing consumer demand, rising disposable incomes, and urbanization. Automotive ceramics play a pivotal role in passenger vehicles, particularly in components like catalytic converters, sensors, and spark plugs, where the material's lightweight and durable characteristics are crucial. With a growing emphasis on fuel efficiency, emissions reduction, and compliance with stringent environmental regulations, automakers are increasingly integrating advanced ceramic materials. Additionally, the rising popularity of electric and hybrid passenger vehicles, which rely on ceramic components in battery systems, further propels the dominance of the passenger vehicle segment in the automotive ceramics market.
Automotive Ceramics market, by application, is segmented into engine parts, exhaust systems, automotive electronics, braking systems, and others. Engine parts claims the largest market share in the automotive ceramics market's application segment due to the critical role ceramics play in enhancing the efficiency, durability, and performance of various engine components. Ceramics, particularly materials like alumina oxide and silicon nitride, are utilized in components such as bearings, pistons, and valves due to their exceptional hardness, wear resistance, and thermal stability. These properties contribute to minimizing friction, reducing wear and tear, and improving overall engine efficiency. As the automotive industry faces increasing pressure to meet stringent emission standards and fuel efficiency requirements, manufacturers are prioritizing lightweight and durable materials for engine components. The demand for high-performance and electric vehicles further propels the use of ceramics in critical engine parts. This confluence of factors positions engine parts as a dominant application segment in the automotive ceramics market, as the industry continues to seek innovative solutions for enhanced engine performance and environmental sustainability.
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Asia Pacific dominates the automotive ceramics market due to a confluence of factors driving its robust growth. The automotive ceramics market is led by the Asia Pacific, fuelled by region's robust automotive industry, driven by significant manufacturing hubs in countries like China, Japan, and South Korea, fuels demand for advanced materials. Stringent emission regulations have intensified the need for lightweight and durable components, propelling the adoption of automotive ceramics. Moreover, the rising trend of electric vehicles (EVs) in Asia Pacific, supported by government initiatives and consumer preferences, further boosts the market. The region's technological prowess and continuous research and development activities contribute to innovations in ceramic materials, fostering their integration into various automotive applications. This dominance reflects the region's strategic positioning at the forefront of key industries, emphasizing its pivotal role in shaping the trajectory of automotive ceramics technology and applications.
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