New York, United States , July 09, 2024 (GLOBE NEWSWIRE) -- The Global Automotive Ceramics Market Size is to Grow from USD 2.39 Billion in 2023 to USD 4.13 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.62% during the projected period.
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Automotive ceramics are advanced structural materials that are widely used in various auto parts manufacturing processes. The chosen material for producing lightweight parts which are crucial for automotive applications is ceramics since they are brittle, porous, and rigid. The technical requirements of each component of an automobile are distinct, and while choosing materials, factors such as acceptable reliability, energy efficiency, and cost-effectiveness are taken into consideration. To fulfill the high criteria set by the reliable and strong material; these are included in car designs. The increasing popularity of electric vehicles and stringent environmental regulations underscore the critical function of ceramics in automotive electronics, exhaust systems, and engine components. The growing automotive industry, which is driven by a rise in the demand for passenger and commercial cars worldwide, is the primary reason for the growing need for automotive ceramics. Automotive ceramics provide higher strength, wear resistance, and chemical stability at high temperatures compared to metals. Furthermore, the cost of ceramic materials is higher than that of metal and other materials. It could limit the amount of ceramics used in automobile production.
Browse key industry insights spread across 245 pages with 110 Market data tables and figures & charts from the report on the "Global Automotive Ceramics Market Size, Share, and COVID-19 Impact Analysis, By Material (Alumina Oxide, Titanate Oxide, Zirconia Oxide, and Others), By Vehicle Type (Passenger Vehicle and Commercial Vehicle), By Application (Engine Parts, Exhaust Systems, Automotive Electronics, Braking Systems, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The zirconia oxide segment accounted for the largest revenue share of the automotive ceramics market during the projected timeframe.
Based on the material, the automotive ceramics market is divided into alumina oxide, titanate oxide, zirconia oxide, and others. Among these, the zirconia oxide segment accounted for the largest revenue share of the automotive ceramics market during the projected timeframe. Zirconia oxide's exceptional mechanical properties are high strength, toughness, and wear resistance. Such features make it suitable for demanding automotive applications including as engine components, sensors, and bearings. It endures high temperatures without deforming or deteriorating because of its remarkable thermal stability.
The commercial vehicle segment is expected to grow at the highest CAGR in the automotive ceramics market during the projected timeframe.
The automotive ceramics market is classified by vehicle type into passenger vehicle and commercial vehicle. Among these, the commercial vehicle segment is expected to grow at the highest CAGR in the automotive ceramics market during the projected timeframe. Commercial vehicles require high-performance and durable materials for essential components including engine parts, exhaust systems, and brake systems, such as ceramics. While commercial vehicles are subjected to continual and severe use, the industry places a high value on materials that can withstand severe conditions, reduce deterioration, and increase reliability.
The exhaust systems segment dominated the market with the highest market share of the automotive ceramics market during the projected timeframe.
Based on the application, the automotive ceramics market is divided into engine parts, exhaust systems, automotive electronics, braking systems, and others. Among these, the exhaust systems segment dominated the market with the highest market share of the automotive ceramics market during the projected timeframe. They are required to maximize engine performance and adhere to strict pollution regulations. Automotive ceramics, specifically zirconia oxide, are used extensively in diesel particle filters and exhaust system catalytic converters.
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Asia Pacific is expected to hold the largest share of the automotive ceramics market over the forecast period.
Asia Pacific is expected to hold the largest share of the automotive ceramics market over the forecast period. The Asia Pacific region has witnessed a rise in the number of automobiles possessed as a result of improved living circumstances, urbanization, and higher earnings. More people are purchasing cars for both personal and professional usage, which has raised the need for automotive ceramics, which are essential components used in the manufacture of automobiles. The Asia Pacific region is setting the standard for technological innovation in the fast-expanding integration of electronic components in autos. Because automotive ceramics are essential to electronic systems including circuit boards, LED substrates, and sensors, there is a need for them in the region.
North America is predicted to grow at the fastest pace in the automotive ceramics market during the projected timeframe. The use of electric vehicles (EVs) is increasing quickly in North America for several reasons, including government incentives, environmental consciousness, and advancements in EV technology. Automotive ceramics are essential components for manufacturers of electric cars since they are utilized in power electronics, batteries, and electric motors. Ceramic materials are expected to see an increase in demand as the North American market for electric vehicles (EVs) expands. Ceramic materials are preferred in applications where weight reduction is crucial since they are significantly lighter than conventional metals.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the automotive ceramics market include IBIDEN, Elan Technology, 3M, Ceramtec GmbH, Ferrotec Corporation, Applied Ceramics Inc., Kyocera Corporation, Coorstek Inc., Almatis GmbH, SaintGobain Ceramic, Ceradyne, Inc., Corning Incorporated, Morgan Advanced Materials, Niterra, and Others.
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Recent Developments
- In July 2023, Niterra accumulated the Spark Plug business and the Exhaust Gas Oxygen Sensor business from DENSO CORPORATION. The company's product portfolio for the automotive market has been improved as an outcome of this acquisition.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the automotive ceramics market based on the below-mentioned segments:
Global Automotive Ceramics Market, By Material
- Alumina Oxide
- Titanate Oxide
- Zirconia Oxide
- Others
Global Automotive Ceramics Market, By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Global Automotive Ceramics Market, By Application
- Engine Parts
- Exhaust Systems
- Automotive Electronics
- Braking Systems
- Others
Global Automotive Ceramics Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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