According to the report, the automotive ceramics market was estimated at USD 2.18 billion in 2022 and is likely to grow at a CAGR of 5.36% during 2023-2028 to reach USD 3 billion in 2028.
What are automotive ceramics?
Automotive Ceramics are ceramic materials that are further processed to be used in automobiles. Ceramic has higher ion conductivity and hence can be used for fuel cells for automotive.
Automotive Ceramics are available in different types such as alumina oxide, titanate oxide, zirconia oxide, and others. Some of the common places where the component is used are engine parts, exhaust systems, automotive electronics, and others.
Market Dynamics
The growth of the automotive ceramics market is primarily driven by-
- Growing Automobile fleet.
- Rising use of ceramic materials – Materials like glow plugs, electronic fuel pumps, sealing and insulation rings, spark plugs, valves, etc., are made of ceramic materials as these materials possess properties like high-temperature resistance, corrosion resistance, etc. This rise hence boosts the demand for the automotive ceramics market.
- Low-cost manufacturing needs – Several industries are focusing on the development of low-cost manufacturing technologies as there is a high demand for lightweight and affordable vehicles. Ceramics, owing to their high melting point, durability, and strength, stand out to be the best materials for manufacturing many components in any automobile, in low-cost, and high strength.
- Stringent Emission Regulations – Governments across the globe are implementing strict emission regulations to reduce greenhouse gas emissions. Ceramic materials, such as catalytic ceramic filters, etc. show up as the importance of diesel filters in vehicle emission control systems. The need for effective emission control systems is thus, driving the demand for automotive ceramics.
- Technological Advancements – Manufacturers are investing in advanced manufacturing processes such as 3D printing (additive manufacturing), to produce complex ceramic components with precise geometries. Additionally, innovations in ceramic materials and coatings are enhancing their properties, expanding their application areas, and driving the overall growth of the automotive ceramics market.
Leading players in the market -
To build a successful business, it is vital to understanding the market - both the customers and the competitors. The report published consists of a list of key players active in the Autonomous Farm Equipment Market, which is given below -
- Kyocera CorporationCeramTec
- NGK Spark Plug Co., Ltd.
- CoorsTek, Inc.
- Saint-Gobain Ceramics Materials
- Ceradyne Inc.
- Mcdanel Advanced Ceramic Technologies LLC
- Dyson Technical Ceramics Ltd.
- International Syalons (Newcastle) Limited
- Inmatec Technologies GmbH
- Blasch Precision Ceramics, Inc.
- Applied Ceramics, Inc.
- Ortech Advanced Ceramics
- Vinayak Techno Ceramics
Report Findings
Based on the material type, the market is segmented as alumina oxide ceramics, titanate oxide ceramics, zirconia oxide ceramics, and others. The alumina oxide ceramics segment held the largest market share of more than 40% in 2022 and is expected to register the highest growth during the forecast period.
In automotive applications where superior properties are required, there, zirconia oxide ceramics are considered as they bear very high resistance to crack propagation. Zirconia oxide ceramics are known for their properties such as high density, high fracture toughness, high flexural strength, and high chemical resistance owing to which they are extensively employed in automotive applications.
Based on the application type, the market is segmented as automotive engine parts, automotive exhaust systems, automotive electronics, and others. It is estimated that the automotive engine parts segment will lead the market during the forecast period. Extensive use of automotive ceramics in the manufacturing of spark plugs, glow plugs, high-pressure pumps, electronic fuel pumps, valves, sealing & insulation rings, and other automotive applications is the major factor behind the dominance of automotive engine parts.
In terms of regions, Asia-Pacific held the largest market share of more than 45% in 2022 and is also expected to witness the highest growth during the forecast period. Asia-Pacific is the largest automotive market owing to significant economic development in the region, a huge consumer base, increasing disposable income of consumers, and the presence of key automotive OEMs, tier players, and ceramic material suppliers. China, South Korea, and Japan are the growth engines of the automotive ceramics market in the region.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers the following questions:
· How big is the potential Autonomous Farm Equipment Market?
· Will this market grow or shrink in the future?
· Who are our top competitors or key players?
· What market share do the competitors own?
· How Covid19 has affected the market?
· How long will it take to recover from the Covid-impact?
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