Market Research Report
North American Automotive Ceramics Market 2020-2026
|North American Automotive Ceramics Market 2020-2026|
Published: August 9, 2020
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Full-title:North American 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.
North American automotive ceramics market is estimated to grow at a CAGR of 5.2% during the forecast period. The trend towards electric vehicles is one of the major factors that will drive the growth of the market. As per the International Council on Clean Transportation (ICCT), in 2018, Canada was the 8th largest electric vehicle (EV) market, with more than 40,000 sales. The annual sales growth rate of EV for Canada over 2014-2018 has risen annually. Additionally, the US accounted for 22% of the global electric cars on the road. As a result, North American automotive manufacturers are focusing on expanding electric vehicle production to meet domestic and global demands.
For instance, in January 2020 General Motors declared that it would invest $2.2 billion in constructing a new electric vehicle plant in Detroit. Further, in November 2019, Volkswagen AG declared to invest an additional $800 million in the Chattanooga plant for EV manufacturing. Such kinds of investment in EV production will provide significant growth opportunities for the ceramic materials in electric vehicle components. Multilayer ceramic capacitors (MLCCs) are generally utilized in EV electronics and subsystems owing to their easy surface mount form, tiny size, and high-temperature rating factor.
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 ceramic substrate contains superior comprehensive performance and is an essential material in the automobile industry. It is being widely used in the production of vehicles to improve the performance of vehicles, decrease fuel consumption, and exhaust pollution. Based on the application, the market is classified into automotive engine parts, automotive electronics, automotive exhaust systems, and others.
Some key players in the market include Kyocera Corp., 3M Co., Morgan Advanced Materials plc, CoorsTek, Inc., and Elan Technology, Inc. (ET). The strategies adopted by the market players include mergers and acquisitions, partnerships and collaborations, and product launches, to expand market share. For instance, in November 2019, 3M introduced the new Automotive Window Film Ceramic IR Series. Nano-ceramic technology was used to develop this series that offers an extreme level of infrared heat rejection and restrict interference with electronics. It is designed to offer style and comfort with an attractive neutral color. Apart from comfort and visibility benefits, the series blocks up to 99.9% of ultraviolet (UV) light and offers a total sun protection factor (SPF) up to 1000+. The Ceramic IR Series is developed with a metal-free design to eliminate the risk of interference with electronics, including satellite radio, GPS, or mobile devices, including 5G.
The market study of the North American 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 authenticity in our reports.
Secondary Sources Include:
The report provides 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: