China Automotive Ceramics Market Outlook (2018 to 2032)
Synopsis
The above chart is China Automotive Ceramics Market Outlook (2018 to 2032)
Market Dynamics
the chinese automotive ceramics market is projected to witness significant growth across the 2018-2032 period, driven largely by increased end-user demand for high-performance, durable automotive components.
the automotive sector in china is the world’s largest by both production and sale of automobiles, having achieved around 30 million passenger vehicle sales in 2017. with the implementation of strict emission regulations, regulations towards enhancing fuel efficiency, and increasing demand for luxury cars, automotive ceramics have come as a preferred choice to reduce weight of vehicles, enhance durability and reliability, and improve performance. this is projected to drive the chinese automotive ceramics market over the 2018-2032 period.
in the recent years, private car ownership has increased significantly in china, a trend continuing to drive the automotive industry. moreover, the chinese government’s measures to encourage domestic production and sales of new energy vehicles (nev) is likely to benefit the automotive ceramics market. this is because nev vehicles are expected to be equipped with advanced parts, thereby boosting automotive ceramics demand.
in order to meet the quality requirements in the automotive sector, manufacturers are focusing on improving the quality of automotive ceramics and their production capabilities. they are making constant investments in research and development in order to introduce new technologies related car parts, penetrating into untapped markets, and expanding requirements for a wider range of automotive ceramics components. additionally, manufacturers are also collaborating with leading suppliers to introduce new products into the market.
finally, new product launches are further expected to fuel the chinese automotive ceramics market. increasing demand for efficient and lightweight parts, such as air intake manifolds, oil pans, catalytic converters, and exhaust systems, which can be molded using ceramics, are projected to further drive the chinese market over the 2018-2032 period.