Asia-Pacific Automotive Ceramics Market to Witness Growth until 2024
Increasing use of automotive
ceramics as an alternative to metals & plastics and stringent regulations
for gas emissions worldwide to drive global automotive ceramics market through
2024
According to
TechSci Research report, “Global Automotive
Ceramics Market By Material, By Application, By Region, Competition,
Forecast & Opportunities, 2024”, the global automotive
ceramics market is expected to grow at a CAGR of around 5% during the forecast
period. Automotive ceramics are witnessing adoption on account of their light
weight, durability and resistance to corrosion. The stringent government
policies regarding emission of greenhouse gases and other harmful pollutants
along with the rising focus on electric and hybrid vehicles are further fueling
growth in the market. However, higher costs of
automotive ceramics are likely to hamper the growth of the market during
forecast period.
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The global automotive
ceramics market is segmented based on material, application, region and
company. Based on material, the market can be fragmented into
Alumina Oxide Ceramics, Titanate Oxide Ceramics, Zirconia Oxide Ceramics and
Others. The alumina oxide ceramics holds a significant market share owing to
their efficient functioning under high temperature, high pressure, radiation
and corrosion. The zirconia oxide segment is anticipated to register the
highest CAGR during the forecast period attributable to toughness, strength,
chemical resistance and other properties. Based on application, the market can
be categorized into Automotive Engine Parts & Accessories, Automotive
Exhaust Systems, Automotive Electronics, Catalyst & Support and Others. The automotive engine parts &
accessories segment dominates the market due to the light weight, insulation
and resistance properties of automotive ceramics.
Kyocera Industrial Ceramics Corporation, Murata
Manufacturing Co. Ltd., Momentive Performance Materials Inc., CeramTec GmbH,
Oerlikon Surface Solutions AG, Saint-Gobain Ceramics Materials, McDanel
Advanced Ceramic Technologies, Dyson Technical Ceramic Ltd., IBIDEN CO., Ltd.,
Blasch Automotive Ceramics, Inc. and others are
some of the leading players operating in global automotive ceramics market. The
companies operating in the market are using organic strategies such as product
launches, mergers and collaborations to boost their share.
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“Asia-Pacific is expected
to be the fastest growing market for automotive ceramics during the forecast
period, owing to the rapid economic expansion in the region. Moreover, automotive
ceramics manufacturers are shifting to this region on account of developing
local markets and greater manufacturing competitiveness of the developing
economies. Additionally, increase in automotive manufacturing
activities coupled with the region's emergence as a cost-effective production
hub is further expected to drive Asia-Pacific automotive ceramics market
through 2024.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Automotive Ceramics Market By Material,
By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global
automotive ceramics market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global automotive
ceramics market.
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