The global automotiveceramics market size is expected to gain momentum by reaching USD 2.11billion till 2027 while exhibiting a CAGR of 5.2% between 2020 and 2027. Thisis attributable to the increasing focus on producing advanced ceramics by themanufacturers across the globe during the forecast period. Fortune BusinessInsights, in its latest report, titled “Automotive Ceramics Market Size, Share& COVID-19 Impact Analysis, Types (Zirconia Oxide Ceramics, Alumina OxideCeramics, Titanate Oxide Ceramics, Others), By Application (Automotive EngineParts, Automotive Electronics, Automotive Exhaust Systems, Others), andRegional Forecast, 2020-2027,” mentions that the market was worth USD 1.47billion in 2019.
The rising cases of people suffering from the novelcoronavirus have not only disrupted the healthcare services but have alsoaffected international trade and global supply chains. With major countriesunder lockdown imposed by the government across the globe, the movements ofpeople and trade activities have come to an immediate screeching halt. However,collective efforts fromhe government and the industries are expected to ensuregetting the economy back on track.
Automotive ceramics include components such as sensors,catalysts, and spark plug insulators, among others that are reliable androbust. They possess high thermal, mechanical, and electrical properties thatare being favored by automotive and vehicle manufacturers. In addition to this,they impart superior shock resistive property, high tensile strength, improvedstiffness, and good chemical resistance than metals across the varyingtemperature ranges. The increasing demand for fuel-efficient and light-weightautomotive is further driving the demand for ceramic products across the globe.
What does the ReportInclude?
The market report includes a detailed assessment of variousmarket drivers and restraints, opportunities, and challenges that the marketwill face during the projected horizon. Additionally, the report providescomprehensive research into the regional developments of the market, affectingits growth during the forecast period. It includes information sourced from theadvice of expert professionals from the industry by our research analysts usingseveral research methodologies. The competitive landscape offers furtherdetailed insights into strategies such as product launches, partnerships,merger and acquisition, and collaborations adopted by the companies to maintainmarket stronghold between 2020 and 2027.
REGIONAL INSIGHTS
Increasing Investmentby Major Companies in North America to Bolster Growth
Among all regions, North America was worth USD 243.8 millionin 2019 and is expected to showcase augmented growth in the global automotiveceramics market during the forecast period. This is attributable to theincreasing investment in the automotive sector to develop superior qualityceramics by major companies such as General Motors in the region. Owing to thepresence of a large urban population and higher living standards in thisregion, the market will exhibit an exponential growth in the forthcoming years.Europe is expected to experience significant market growth during the forecastperiod. This is ascribable to the increasing focus on implementing stringentenvironment regulations and the presence of a well-established automotiveindustry between 2020 and 2027.
COMPETITIVE LANDSCAPE
CoorsTek ShowcasingNew Technical Ceramics to Strengthen Product Portfolio
In September 2019, CoorsTek, a global technical ceramicsprovider, showcased several benefits of technical ceramics at the Electric& Hybrid Technology Expo 2019 (EVT19). The company supplemented detailedinsights on how the technical automotive ceramic components are bringing upondynamic changes in the hybrid and EV systems. According to the company, it willdisplay technical ceramic substrates that aim at improving the performance andsafety of the electronic systems even in a harsher environment. The globalautomotive ceramics market report mentions that the companies are adoptingstrategies such as the introduction of new products, merger and acquisition,and collaboration to strengthen their position in the fiercely competitiveglobal marketplace during the forecast period.
Browse Summary of this Research Report with TOC: https://www.fortunebusinessinsights.com/automotive-ceramics-market-103360
