The global automotive ceramics market is expected to top US$ 2 Bn by 2031, expanding at a CAGR of 5% across the decade, concludes a recently published research study by Fact.MR – a market research and competitive intelligence provider. A surging global automotive market and its allied industries are catalyzing demand for automotive ceramics.
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High uptake in electronic component manufacturing majorly drove the market’s historical growth. From 2016 to 2020, a CAGR exceeding 4% was registered, growing from over US$ 1 Bn to reach nearly US$ 2 Bn, representing almost twofold growth. Recessionary impacts induced by COVID-19 temporarily stalled expansion, as compulsory lockdowns forced automotive manufacturers to cease production in the first half of the year.
Sales of automotive ceramics for electronics are especially likely to gather momentum amid the rising popularity of electric vehicles. With stricter emission norms being enforced, automotive companies are conforming to mandatory compliance requirements, prompting an increase in adoption of more sustainable alternatives.
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Key Takeaways from Market Study
- By type, functional automotive ceramics to top US$ 1 Bn by 2031, increasing at over 5% CAGR
- Sales of structural automotive ceramics accounted for over 40% of total revenue in 2020
- Alumina oxide automotive ceramics to generate more than 2 out of 5 sales by 2031
- By application, automotive ceramics for electronics to generate heightened sales, expanding at nearly 5% CAGR
- The U.S. topped US$ 450 Mn in 2020, accounting for nearly 3 out of 10 automotive ceramics sales
- Market in China to expand at over 8% CAGR, surpassing a valuation of US$ 500 Mn by 2031
- Japan and Canada markets to expand a CAGRs of approximately 7% across the forecast period
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Key Segments Covered in Market Study
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Type
- Functional Automotive Ceramics
- Structural Automotive Ceramics
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Material
- Alumina Oxide Automotive Ceramics
- Titanate Oxide Automotive Ceramics
- Zirconia Oxide Automotive Ceramics
- Other Material Automotive Ceramics
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Application
- Automotive Ceramics for Engine Parts
- Automotive Ceramics for Exhaust Systems
- Automotive Ceramics for Electronics
- Automotive Ceramics for Other Applications
Competitive Landscape
Prominent players are reliant on designing automotive ceramics aimed at reducing overall weight of vehicles. Additionally, extensive R&D activities are being undertaken for manufacturing ceramics for automotive electronics among other expansion strategies.
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- For instance, CeramTec GmbH offers a broad range of silicate ceramics for automotive engineering and lighting technology. These ceramics are widely deployed for producing halogen and xenon headlights, as they continuously emit high amounts of UV light.
- Likewise, Corning Inc. offers the MACOR® high-tech glass ceramics which are non-porous and virtually impervious to electricity and heat. These are especially deployed by NASA for over 200 distinctly shaped components in hinge points, windows and doors for the Space Shuttle orbiter series.
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For More Insights- https://www.einpresswire.com/article/556334942/demand-for-milk-homogenizers-is-surged-due-to-advent-of-electromechanical-technologies-in-the-dairy-equipment-industry
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