The global automotive ceramics market is expected to reach USD 2.29 Billion by 2026, according to a new report by Reports and Data. This is owing to the increasing use of ceramics as a substitute to metals and plastics by vehicle producers and automotive component manufacturers, for its mechanical strength and thermal and electrical properties.
The growth of the automotive market is expected to stimulate market demand in the forecast period. In 2018, motor vehicles and their parts generated a revenue USD 518.10 billion of the USD 18.566 trillion or 28.0% in total GDP of the U.S. According to the Organization International des Constructers automobiles (OICA), the U.S. is the second-largest producer of automobiles, after China, in the number of automotive produced annually. In 2017, the U.S. had a total yearly production of 11.2 million passenger and commercial vehicles, whereas China’s annual production was 29.0 million.
The product demand is growing at a steady rate owing to stringent government regulations about emission control coupled with fuel economy standards. Increasing instances of respiratory and lung diseases in both adult and aged population, due to air pollution caused by vehicular emissions, which are expected to boost the market growth in the forecast period.
Additionally, the ability of the product to withstand extreme conditions, including high temperature, pressure, corrosion, and radiation is anticipated to fuel the growth of the market in the upcoming years.
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Further key findings from the report suggest
Browse In-depth Market Research Report : https://www.reportsanddata.com/report-detail/automotive-ceramics-market
For the purpose of this report, Reports and Data have segmented the global automotive ceramics market on the basis of type, material, application, and region:
Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Material Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
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