PORTLAND, Oregon and PUNE, India, March 8, 2017 /PRNewswire/ --
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.
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.
Summary of the Transparent Ceramics Market can be accessed on the website at: https://www.alliedmarketresearch.com/transparent-ceramics-market
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.
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.
Read similar market research reports on Advanced Materials at: https://www.alliedmarketresearch.com/materials-&-chemicals/advanced-materials-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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SOURCE Allied Market Research