According to a new report published by Allied Market
Research titled, "Transparent Ceramics Market by Type,
Material, and Application: Global
Opportunity Analysis and Industry Forecast, 2014-2022," the global
transparent ceramics market was valued at $246
million in 2015, and is expected to reach $729 million by 2022, growing at a CAGR of 17.4%
during the forecast period. Optics & optoelectronics segment was the
largest contributor to the global transparent ceramics market in 2015. Asia-Pacific held the leading position in 2015,
and is expected to grow at the highest rate during the study period.
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Transparent ceramics are scratch resistance for
lookdown windows in aircraft and can sustain more rigorous conditions than
glass, thereby increasing their demand in the coming years. The defense
industry is currently making high investments for innovations and development
of advanced ceramics to be utilized in various areas in the defense field. This
is expected to increase the demand for transparent ceramics in the near future.
According to Eswara
Prasad, Team Lead, Chemicals & Materials at Allied Market Research, "Rapid advancement
of nanotechnology for the enhancement of advantages offered by
transparent ceramic materials is expected to offer major opportunities to the global
transparent ceramics market."
Monocrystalline transparent ceramics was the largest
revenue generator in 2015, as these are crystal lattices that are free from
surface defects and internal pore irregularities. These advantages make it
suitable for applications such as radiation detection, particle detection,
X-ray devices used for security reasons, gas exploration, optics, and
electronics. This segment is also projected to grow at the highest CAGR during
the forecast period.
Increasing concern about safety of defense personals
and VIPs is expected to result in replacement of conventional glass with
sapphire glass, thus increasing the demand for sapphire. Sapphire is
extensively used in electronics industry as a substrate material due to its
insulating properties, thus driving the growth of this segment.
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Transparent Ceramics Market Key Findings of the
study
- The optics & optoelectronics
application segment occupied the highest share in 2015, and is expected to
grow at a CAGR of 18.2%, in terms of value, during the forecast period.
- Asia-Pacific is
the leading consumer of transparent ceramics, accounting for approximately
more than one-third share of the global market, followed by North America.
- The monocrystalline transparent
ceramics is expected to expand with the highest CAGR of 18.1%.
- Sapphire segment accounted for
approximately one-fourth of the global transparent ceramics market in
2015.
- U.S. is the leading market for
transparent ceramics in the North American region, growing at a CAGR
15.7%.
Asia-Pacific accounted
for the largest market share in 2015, and is projected to grow at the highest
CAGR. Attractive policies on foreign investment gain interest of transparent
ceramics manufacturers to invest in Asia-Pacific. China, Japan, Australia, Korea, and India are
the major revenue contributors in this region. The Asian market is currently
the largest contributor to the total production, with 60% share, thereby making
it a dominant industry in the global market.
The prominent players profiled in this report
include Ceranova Corporation, Surmet Corporation, Brightcrystals Technology
Inc., Konoshima Chemicals Co., Ltd., Ceramtec ETEC, Murata Manufacturing Co.
Ltd., Coorstek Inc., and Schott AG.
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accuracy in our market forecasting. Each and every data presented in the
reports published by us is extracted through primary interviews with top
officials from leading companies of domain concerned. Our secondary data
procurement methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the industry.
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