Emerging Demand for Electric Vehicles to offer an Opportunity for the Global Automotive Ceramics Market

The global automotive ceramics market is estimated to grow at a CAGR of nearly 5.5% during the forecast period. The emerging demand for electric vehicles is primarily contributing to the growth of the market. Increasing strict emission regulations is leading to an emerging adoption of electric vehicles that supports reducing fuel cost and lowers emission. Hydrogen is considered an alternative fuel and is entitled to alternative fuel vehicle tax credits, under the Energy Policy Act of 1992. This leads to the driving adoption of electric vehicles as greener alternatives. 

Browse the full report description of "Global 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" at https://www.omrglobal.com/industry-reports/automotive-ceramics-market

In 2018, the global stock of electric passenger cars exceeded 5 million in 2018, which shown an increase of 63% from 2017, as per the International Energy Agency (IEA). In 2018, 45% of the global electric cars on the road were reported in China, which is 2.3 million, and is followed by Europe and the US. Due to the stringent emission norms and rising demand for electric vehicles, the automobile manufacturers moved towards the development of electric vehicles as an area of growth opportunities. Toyota Motor Corp. and Honda Motor Co. Ltd. are engaged in the development of hydrogen fuel cell electric vehicles (FCEVs). 

Apart from these, Hyundai Motor Group is also focusing on electric vehicles driven by hydrogen fuel cells. Multilayer ceramic capacitors are commonly used in electric vehicle electronics and subsystems owing to their small size, extreme temperature ratings, and easy surface mount form factor. As with the battery management system (BMS), ceramic capacitors (rather than film capacitors) are recommended to withstand the high operating temperatures of the DC/DC converter. Therefore, the emerging production and sales of electric vehicles are supporting to boost the global automotive ceramics market.

Scope of the Global Automotive Ceramics Market

Market Coverage

• The market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Material and Application
• Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World. 
• Competitive Landscape- Kyocera Corp., CeramTec GmbH, CoorsTek, Inc., Morgan Advanced Materials plc, and NGK Spark Plug Co., Ltd.

Key Developments in the Global Automotive Ceramics Market

• In February 2019, Kyocera Corp. declared that Kyocera Fineceramics GmbH, its Germany-based European headquarters, completed an agreement to acquire H.C. Starck Ceramics GmbH, a manufacturer of advanced ceramics based in Selb, Germany. The acquisition of H.C. Starck Ceramics will support Kyocera to expand fine ceramic production assets in Europe, manufacturing lineup, and advanced technologies. In addition, this will enable Kyocera to further extend its fine ceramics business across the globe.
• 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. 

Key questions addressed by the report

• What is the market growth rate?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market?
• How COVID-19 impacted the market?

        ? Recovery Timeline

        ? Deviation from the pre-COVID forecast

        ? Most affected region/segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Automotive Ceramics Market-Segmentation

By Material

• Alumina Oxide Ceramics
• Zirconia Oxide Ceramics
• Others

By Application

• Automotive Engine Parts
• Automotive Electronics
• Automotive Exhaust Systems
• Others

Global Automotive Ceramics Market– Segment by Region 

North America           

• US
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East and Africa

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