The Cordierite Market is projected to reach from USD 2.5 billion in 2023 to USD 3.2 billion by 2028, at a CAGR of 5.1%. Cordierite is a commonly used material in automotive parts due to its excellent thermal properties and low thermal expansion coefficient. It is predominantly used in catalytic converters and diesel particulate filters (DPF) in the automotive industry. Cordierite offers several advantages that contribute to its market growth. It has excellent thermal stability, a low thermal expansion coefficient, and high resistance to thermal shock. These properties make it ideal for applications requiring high-temperature resistance, such as catalytic converters and DPFs. In addition, cordierite is cost-effective compared to alternative materials, which further drives its adoption in the market.
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The key players in the cordierite market include DENSO Corporation (Japan), Kyocera Corporation (Japan), Corning Inc. (US), TOTO Ltd. (Japan), NGK Insulators (Japan), Vesuvius Plc (UK), Elementis Plc (UK), CoorsTek (US), Unifrax (US), and CeramTec (Germany), among others. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through acquisitions, expansions, and partnerships.
Denso Corporation, headquartered in Kariya, Aichi, Japan, is a multinational automotive supplier with a strong global presence. The company was founded in 1949 as a division of Toyota Motor Corporation and became an independent company in 1949. Denso has since grown into one of the largest automotive component manufacturers worldwide. Denso offers a diverse range of automotive technology and components, including powertrain systems, thermal systems, electronic systems, and information and safety systems. Within these product categories, Denso incorporates cordierite-based components such as catalytic converters and diesel particulate filters (DPFs) that help reduce emissions in vehicles.
In May 2023, Denso Corporation, a prominent supplier in the mobility industry, and United Semiconductor Japan Co., Ltd., a subsidiary of global semiconductor foundry United Microelectronics Corporation recently entered a collaborative partnership. This collaboration aims to manufacture insulated gate bipolar transistors (IGBT). These IGBTs have commenced mass production at the 300mm fabrication facility of United Semiconductor Japan Co., Ltd.
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Kyocera Corporation is a Japanese multinational company headquartered in Kyoto, Japan. It was founded in 1959 and has since grown into a diversified technology company with a global presence. Kyocera operates through a wide range of business segments, including Fine Ceramic Components, Semiconductor Components, Applied Ceramic Products, Electronic Devices, Telecommunications Equipment, and Document Solutions. In July 1969, Kyocera International, Inc. was established as a sales company operating under Kyocera Corporation. In the field of advanced ceramics, Kyocera is known for its expertise and innovation. The company develops and manufactures a variety of advanced ceramic products, including cordierite ceramics. Cordierite ceramics, with their excellent thermal resistance, low thermal expansion, and good electrical insulation properties, find applications in various industries such as automotive, electronics, energy, and more. In March 2023, Kyocera Corporation acquired a prominent manufacturer specializing in inkjet print engines and systems. As part of this agreement, the acquired company will subsequently operate under the name Kyocera Nixka Inkjet Systems S.A.S., with Kyocera assuming full ownership.
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