Market Research Report
Asia-Pacific Automotive Ceramics Market 2020-2026
|Asia-Pacific Automotive Ceramics Market 2020-2026|
Published: August 9, 2020
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Full-title:Asia-Pacific Automotive Ceramics Market Size, Share & Trends Analysis Report, by Material (Alumina Oxide Ceramics, Zirconia Oxide Ceramics, and Others), by Application (Automotive Engine Parts, Automotive Electronics, Automotive Exhaust Systems, and Others) and Forecast, 2020-2026.
Asia-Pacific automotive ceramics market is estimated to grow at a CAGR of 6.8% during the forecast period. Significant automotive parts manufacturing is the major factor contributing to the growth of the market. As per the Observatory of Economic Complexity (OEC), in 2018, vehicle parts were the 6th most traded product across the globe, with a total trade of $396 billion. In 2018, the top exporters of vehicle parts were Germany ($68.1 billion), Japan ($36.3 billion), China ($34.2 billion), Mexico ($30.1 billion), and the US ($ 27 billion). This represents that Japan and China have a potential share in the trade of vehicle parts. This, in turn, is leading to the adoption of automotive ceramics that are incorporated into automotive designs while challenging conditions need a material that is reliable and robust.
Advanced ceramic materials offer excellent dimensional stability, chemical resistance, strength, shock resistance, and stiffness across a comprehensive range of temperatures. As a result, automotive component and vehicle manufacturers are significantly adopting ceramic as an option to metal, owing to its thermal and electrical properties and mechanical strength. The market is segmented based on material and application. Based on material, the market is classified into alumina oxide ceramics, zirconia oxide ceramics, and others. Alumina oxide ceramics accounts for a potential share in the market. Alumina ceramic substrate is an essential material in the automobile industry as it offers superior comprehensive performance. It is extensively used in automobiles to improve automobile performance, exhaust pollution, and reduce fuel consumption. Additionally, the material is extremely resistant to corrosion and wear.
Based on the application, the market is classified into automotive engine parts, automotive electronics, automotive exhaust systems, and others. Stringent regulations on vehicle exhaust emission have led the adoption of ceramic materials for applications in automotive exhaust systems to filter out pollutants, particularly in diesel particulate filters. Ceramic filters are cost-effective, robust and long-lasting, and easily produced, which makes it ideal for use in road vehicles.
Geographically, the market is classified into China, Japan, India, and the Rest of Asia-Pacific. India is estimated to witness significant growth during the forecast period, owing to the increasing automobile production in the country. As per the Invest India, the country's annual production has been 29.08 million vehicles in 2018, compared to 25.33 million in 2017, which is registering a healthy growth of 14.8%. During the period, April-March 2019, the whole automobile exports increased by 14.5%. Additionally, during the period, April- March 2019, the entire commercial vehicle segment registered a growth of 17.5%.
The emerging automobile manufacturing is attributing to the increasing production of automotive components in the country. Automotive component manufacturing is relatively easy in India compared to Europe and Latin America, as India is the second-largest steel manufacturer of steel globally. This supports to keep costs of automotive parts low in the country. This, in turn, is resulting in the adoption of ceramic materials for the manufacturing of automotive parts, including the production of brake discs owing to their high wear strength and hardness.
Some key players in the market include Kyocera Corp., Morgan Advanced Materials plc, Murugappa Morgan Thermal Ceramics Ltd., NGK Spark Plug Co., Ltd., and CeramTec GmbH. The market players are adopting some key strategies, including partnerships and collaboration, geographical expansion, and product launches, to expand their market share. For instance, in September 2018, NGK Insulators, Ltd. Declared the plan to install a new powder manufacturing facility that will make raw materials at the Ishikawa Plant in Nomi City, Ishikawa Prefecture, Japan. It is a manufacturing base for ceramics to purify automotive exhaust. This facility will enable NGK to build a raw materials supply system that will enable to meet the increasing demand focused in Asia.
The market study of the Asia-Pacific automotive ceramics market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.
Secondary Sources Include:
The report is intended for manufacturers, suppliers, and distributors of automotive components, for overall market analysis and competitive analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: