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CHEMICALS AND ADVANCED MATERIALS

Automotive Ceramics Market Analysis by Material (Alumina Oxide, Titanate Oxide, Zirconia Oxide, and Others); by Application (Engine Parts, Exhaust Systems, Electronics, and Others); and by Vehicle Type (Passenger Cars, Commercial Vehicles, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • KYOCERA Corporation has proceeded to acquire the advanced ceramics operations of Friatec, a manufacturer of ceramic and plastic components based in Mannheim, Germany.

  • CeramTec GmbH has launched ROCAR 3D, a new technical ceramics material. The silicon carbide (SiSiC) material for Additive Manufacturing is suitable for the development and production of single or multiple prototypes or components.

Global Automotive Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2033)

~ USD 3 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global automotive ceramics market is estimated to garner a revenue of ~USD 3 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2 Billion in the year 2022. generated a revenue of USD 50 Billion in the year 2022. The primary factor attributed to the growth of the automotive ceramics is attributed to the rapid growth in the automotive industry during the past years. The recent statistics reveal that the global automotive industry is expected to reach approximately USD 9 trillion by 2030.

ceramic market overview

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Automotive ceramics are being heavily utilized in varied processes in car manufacturing processes owing to their unique properties. As comparative to the conventional materials such as plastic and metal, automotive ceramics are lighter in weight, durable, corrosion-resistant, and other advantages. Owing to this trend, key players are increasing the employment rate in automotive sector that is expected to raise the adoption rate of automotive ceramics in varied purposes. A latest report found that in fiscal year 2018, the Indian automotive industry employed approximately 2 million people.

Global Automotive Ceramics Market: Growth Drivers and Challenges

Growth Drivers

  • Growth in Population Across the World - The rapid multiplication of population along with recent modernization is generating the need of vehicles worldwide. Thus, an increase in demand of vehicles is expected to escalate the need of automotive ceramics for increasing the durability, upgrading the looks and enhancing on-road performance. Thus, the rapid growth in the population is expected to fuel the market growth in the assessment period. As per World Bank, it is estimated that the world population stood at 7.84 billion in 2021, an increase from 7.09 billion in 2021. This number is anticipated to rise to 9.8 billion in 2050 and 11.2 billion in 2100, as per United Nations, Department of Economic and Social Affairs.

  • High Number of Vehicles on the Roads – The recent urbanization has led the number of vehicles on the roads to increase. As a result, the utilization of automotive ceramics is expected to also surge considerably. As per the calculations, it was forecasted that were approximately 2 billion vehicles on roads across the globe by the end of first quarter of 2022.

  • Rapid Production Rate of Vehicles - International Organization of Motor Vehicle Manufacturers (OICA), released the global sales of vehicles statistics which revealed that it rose to 56 million in 2021 from 53 million in 2020. Whereas, the global production of vehicles calculated to be 57 million in 2021.

  • • Growing Electric Vehicle Sales and Production - In 2021, one out of every ten new cars sold was an electric vehicle. The rate has increased from one in forty in 2019 and is currently higher. There are 15.9 million electric cars on the road right now.

  • Increasing Need of Luxury Cars - A latest report suggested that the global sales of luxury cars are anticipated to stand at 200K vehicles in 2026, a rise from 190K vehicles in 2022. 

Challenges

  • Increased Concerns Regarding Capital Intensive Development

  • High Final Costs of the Product

  • Strict Government Limits Regarding Carbon Dioxide Emission - In December 2021, the Environmental Protection Agency of the United States (EPA) established new national greenhouse gas (GHG) emissions regulations for model years 2023–2026 of passenger cars and light trucks. GHG emissions and other criteria pollutants would be significantly reduced as a result of the final recommendations.

The automotive ceramics market is segmented and analyzed for demand and supply by vehicle type into passenger cars, commercial vehicles and others. Out of these, the passenger cars segment is attributed to garner the highest market share by 2033, owing to the high demand of personal vehicles by the burgeoning population. International Organization of Motor Vehicle Manufacturers (OICA) stated that the global passenger vehicles sales rose from 53,917,153 units in 2020 to 56,398,471 units in 2021, whereas, the production rose from 55,908,989 in 2020 to 57,054,295 in 2021.

Global Automotive Ceramics Market Regional Synopsis

The Asia Pacific automotive ceramics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to the increased demand of vehicles by the growing population. The total production of vehicles in the region was 46 million in 2021, whereas, the total sales in the region was 42 million in 2021 as per statistics released by International Organization of Motor Vehicles. Another factors that are attributed to the increase the utilization of automotive ceramics is the presence of major key players and leading exporters and importers of vehicles in the region. In 2021, China exported around 402,000 commercial vehicles and around 2 million passenger vehicles. Also, the growing Gross Domestic Product (GDP) level along with the rising employment rate and rising income levels are another factors for increased adoption rate of automotive ceramics in the assessment period.

Market Segmentation

Our in-depth analysis of the global automotive ceramics market includes the following segments:

      By Material

  • Alumina Oxide
  • Titanate Oxide
  • Zirconia Oxide
  • Others

      By Application

  • Engine Parts
  • Exhaust Systems
  • Electronics
  • Others

      By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles
  • Others

Top Featured Companies Dominating the Global Automotive Ceramics Market

  • KYOCERA Corporation

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • CeramTec GmbH
  • NGK Spark Plug Co., Ltd
  • CoorsTek, Inc.
  • Morgan Advanced Materials plc
  • Saint-Gobain Ceramics & Plastics, Inc.
  • Ibiden Co., Ltd.
  • Corning Incorporated
  • Murata Electronics North America, Inc.
  • Aearo Technologies LLC.

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