Expansions was the Key Strategy Adopted by the Leading Players to Strengthen their Positions in the Automotive Ceramics Market
The automotive ceramics market is expected to grow from USD 1.59 Billion in 2017 to USD 2.05 Billion by 2022, at a CAGR of 5.2% between 2017 and 2022. Expansions and acquisitions were the key strategies adopted by the major players to strengthen their position in the automotive ceramics market. The Asia Pacific region, followed by North America and Europe witnessed the maximum number of strategic developments undertaken by various players between 2012 and 2017.
Key players operating in the automotive ceramics market are Kyocera (Japan), CeramTec (Germany), NGK Spark Plug (Japan), CoorsTek (US), Morgan Advanced Materials (UK), Saint Gobain Ceramic Materials (US), IBIDEN (Japan), Ceradyne (US), and Corning (US)., among others.
Kyocera (Japan) is one of the leading manufacturers of automotive ceramics. In July 2017, the company and Toshiba Materials (Japan) signed an agreement for the development and production of nitride ceramic components for automotive applications. With this agreement, the company aims to establish a strong foothold in the automotive ceramics market. The company has a strong presence worldwide, especially, in APAC and Europe.
CeramTec (Germany) and NGK Spark Plug (Japan) are other major players in the automotive ceramics market. In February 2014, CeramTec expanded its existing Laurens County facility, US, and invested approximately USD 13.2 million. The expansion was carried out to strengthen the ceramic business of the facility.
In October 2017, NGK Spark Plug planned to establish a surplus production plant in India to reinforce its automotive components manufacturing capability. This expansion will help the company to gain a substantial share of the automotive ceramics market.
This report provides a detailed analysis of the automotive ceramics market and segments the market based on material, application, and region. Based on material, the automotive ceramics market has been segmented into alumina oxide ceramics, titanate oxide ceramics, zirconia oxide ceramics, and others. Based on application, the market has been segmented into automotive engine parts, automotive exhaust systems, automotive electronics, and others. The automotive ceramics market has been studied for APAC, North America, Western Europe, Central & Eastern Europe, South America, and the Middle East & Africa.
Related Reports:
Automotive Ceramics Market by Material (Alumina Oxide Ceramic, Titanate Oxide Ceramic, Zirconia Oxide Ceramic), Application (Automotive Engine Parts, Automotive Exhaust Systems, Automotive Electronics), and Region - Global Forecast to 2022
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