PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182879
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182879
Global Automotive Ceramic Market size was valued at USD 1,904.1 Million in 2021, expanding at a CAGR of 6.3% from 2022 to 2028.
The global automotive ceramics market has significant types of material used for production within the landscape including alumina oxide, and zirconia oxide. Additionally, in terms of demand, the zirconia oxide ceramic recorded a significant revenue share. Moreover, automotive ceramics are used to produce various automotive components including knock sensors, actuators, valve systems, superchargers, fuel level sensors, oxygen, and fluid level.
Furthermore, owing to the unique properties of advanced ceramics, they are being majorly utilized in the car manufacturing process. Furthermore, automotive ceramics are lighter in weight, corrosion-resistant, and durable, as compared to conventional materials such as plastic and metal. In the automotive sector, key players are increasing the employment rate which is expected to raise the adoption rate of automotive ceramics for different purposes due to this trend. Additionally, the key drivers of the global automobile ceramics market are changing vehicle emission control regulations, increasing consumer demand for fuel-efficient vehicles, and growing electric vehicles propelling the growth of the global automotive ceramic market.
The key drivers of the global automobile ceramics market are changing vehicle emission control regulations, increasing consumer demand for fuel-efficient vehicles, and growing electric vehicles propelling the growth of the global automotive ceramic market. Moreover, the latest technologies used by many car dealers such as augmented reality which enhance the buying experience of customers and further stimulate the market growth for automotive ceramics. Furthermore, due to the air pollution caused by diesel and gasoline vehicles, major car manufacturers are shifting to automotive ceramic which has opened new opportunities to build their position in the market.
Furthermore, the production of low-cost manufacturing technologies to manufacture ceramic-based components leads to offer advantageous opportunities for the automotive ceramic market. However, the cost of ceramic is higher than metal and alloys can restrain the growth of the automotive ceramic market during the forecast period.
The impact of the global pandemic disrupted the supply chain globally and negatively impacted the manufacturing delivery schedule, and sales of products starting from material sourcing to the end-use consumers. However, the pandemic with increasing car sales in countries such as China has exhibited signs of recovery.
The global automotive ceramic market is segmented on the basis of material, application, end-user, and region.
The market is divided into three categories based on Material: alumina oxide, titanate oxide, and zirconia oxide. The zirconia oxide ceramic material captured the maximum share. This material exhibits high resistance to crack propagation. Additionally, automotive components manufactured from zirconia oxide ceramic are expensive compared to other ceramics.
The market is divided into three categories based on application: engine parts, exhaust systems, and electronics. The increasing use of automotive ceramics in glow plugs, high-pressure pumps, spark plugs, valves, sealing & insulation rings can lead to market growth in this segment.
The market is divided into two categories based on end-use: passenger vehicles, and commercial vehicles. Passenger vehicles held the biggest market share due to the higher proportion of passenger vehicles in total vehicle manufacturing further stimulating the market growth.
New product development is the main focus for vendors in the market, which is aimed at the lightweight design of vehicles. For the development of new products for automotive electronics applications players are also investing in R&D. Owing to the presence of various leading players in the industry the overall automotive ceramics market experiences intense competition. Additionally, in order to retain their consumer bases, the players within the worldwide automotive ceramics industry are adopting and focusing on numerous growth strategies such as determining and assessing competitive pricing techniques, enhancing the product quality, enhancing their current product inventory, offering the best after-sales services, and providing customized solutions.
In April 2021, NGK SparkPlug, a manufacturer of the automotive spark plug, made an announcement of USD 100 million in funds to invest in startups and find prospective mergers.
The scope of this report covers the market by its major segments, which include as follows: