Steady Growth Projected for Automotive Ceramics
The global automotive ceramic market is forecast to grow at a compound annual growth rate (CAGR) of 8.52% from 2017-2022.
According to a report available from Research and Markets, the global automotive ceramic market is forecast to grow at a compound annual growth rate (CAGR) of 8.52% from 2017-2022, due to rising worldwide environmental awareness. Increasing government regulations regarding greenhouse gas emissions and various other hazardous pollutants, along with the growing focus on electric, hybrid vehicles, may have led to the growth of the automotive ceramics market.
Ceramic engine accessories are expected to see strong growth among the segments. Ceramic sensors are also anticipated to witness ample growth, due to technological advancements leading to higher adoption rates.
While developed regions are predicted to continue to dominate the market in terms of revenue, emerging nations are expected to respond to the market optimistically as a result of rising vehicle production and increasing government norms concerning air pollution. North America region remains the major market. In the forecast period, the Asia-Pacific region will witness strong growth driven by countries such as Japan, India and China.
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