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Automotive Ceramics Market

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The global automotive

ceramics market


 size is expected to gain momentum by

reaching USD 2.11 billion till 2027 


while exhibiting a CAGR

of 5.2%


 between 2020 and 2027. This is attributable to the increasing

focus on producing advanced ceramics by the manufacturers across the globe

during the forecast period. Fortune Business Insights, in its latest report,

titled “Automotive Ceramics Market Size, Share & COVID-19 Impact

Analysis, Types (Zirconia Oxide Ceramics, Alumina Oxide Ceramics, Titanate

Oxide Ceramics, Others), By Application (Automotive Engine Parts, Automotive

Electronics, Automotive Exhaust Systems, Others), and Regional Forecast,

2020-2027,”

 

mentions that the market was worth USD 1.47

billion in 2019

.




The rising cases of people suffering from the novel coronavirus have not only

disrupted the healthcare services but have also affected international trade

and global supply chains. With major countries under lockdown imposed by the

government across the globe, the movements of people and trade activities have

come to an immediate screeching halt. However, collective efforts from the

government and the industries are expected to ensure getting the economy back

on track.



We are taking continuous efforts to help your business sustain and

grow during the COVID-19 pandemic. Based on our experience and expertise, we

will offer you an impact analysis of the coronavirus outbreak across industries

to help you prepare for the future.




Automotive ceramics include components such as sensors, catalysts, and spark

plug insulators, among others that are reliable and robust. They possess high

thermal, mechanical, and electrical properties that are being favored by

automotive and vehicle manufacturers. In addition to this, they impart superior

shock resistive property, high tensile strength, improved stiffness, and good

chemical resistance than metals across the varying temperature ranges. The

increasing demand for fuel-efficient and light-weight automotive is further

driving the demand for ceramic products across the globe.



What does the Report Include?




The market report includes a detailed assessment of various market

drivers and restraints, opportunities, and challenges that the market will face

during the projected horizon. Additionally, the report provides comprehensive

research into the regional developments of the market, affecting its growth

during the forecast period. It includes information sourced from the advice of

expert professionals from the industry by our research analysts using several

research methodologies. The competitive landscape offers further detailed

insights into strategies such as product launches, partnerships, merger and

acquisition, and collaborations adopted by the companies to maintain market

stronghold between 2020 and 2027. 



DRIVING FACTORS




Increasing Adoption of Advanced Automotive Ceramics to Foster

Growth




These ceramics are highly durable and cost-efficient than plastic

and thereby, are increasingly adopted in the automotive industry. The recent

advancements in automotive manufacturing have resulted in the high complexity

amongst automotive components. Therefore, advanced automotive ceramic materials

are adopted into vehicle designs, wherein, the testing conditions demand a

reliable and robust material.



The electrical and thermal properties of advanced ceramics enable

them to be adopted in the automotive applications such as mechanical seals,

sensors, valves, and ceramic bearings. Furthermore, owing to their high

chemical and heat resistance properties, they are in huge demand to improve

component life span and engine performance. Therefore, the increasing need for

advanced ceramics in the automotive industry is expected to boost the global

automotive ceramics market growth during the forecast period.



SEGMENTATION




Increasing Demand for Alumina Oxide Ceramics in Automotive to

Promote Growth




The alumina oxide ceramics segment based on the by type, held

about 8.85% share in 2019 and is expected to witness growth during the forecast

period. This is attributable to increasing demand for these ceramics for the

production of vehicles owing to its superior qualities such as excellent

corrosion resistance, good electrical insulation, and low dielectric constant

properties.




REGIONAL INSIGHTS



Increasing Investment by Major Companies in North America to

Bolster Growth




Among all regions, North America was worth USD 243.8 million in

2019 and is expected to showcase augmented growth in the global automotive

ceramics market during the forecast period. This is attributable to the

increasing investment in the automotive sector to develop superior quality ceramics

by major companies such as General Motors in the region. Owing to the presence

of a large urban population and higher living standards in this region, the

market will exhibit an exponential growth in the forthcoming years. Europe is

expected to experience significant market growth during the forecast period.

This is ascribable to the increasing focus on implementing stringent

environment regulations and the presence of a well-established automotive

industry between 2020 and 2027.



COMPETITIVE LANDSCAPE




CoorsTek Showcasing New Technical Ceramics to Strengthen Product

Portfolio




In September 2019, CoorsTek, a global technical ceramics provider,

showcased several benefits of technical ceramics at the Electric & Hybrid

Technology Expo 2019 (EVT19). The company supplemented detailed insights on how

the technical automotive ceramic components are bringing upon dynamic changes

in the hybrid and EV systems. According to the company, it will display

technical ceramic substrates that aim at improving the performance and safety

of the electronic systems even in a harsher environment. The global automotive

ceramics market report mentions that the companies are adopting strategies such

as the introduction of new products, merger and acquisition, and collaboration

to strengthen their position in the fiercely competitive global marketplace

during the forecast period.



Browse Summary of this Research Report with TOC: 



https://www.fortunebusinessinsights.com/automotive-ceramics-market-103360