Monocrystalline Transparent Ceramics Market Expected to Reach $327 Million, Globally, by 2022
PORTLAND, Oregon and PUNE, India, April 19, 2017 /PRNewswire/ --
Monocrystalline Transparent Ceramics Market Report, published by Allied Market Research, forecasts that the global market was valued at $106 million in 2015, and is expected to reach $327 million by 2022, supported by a CAGR of 18.1% during the forecast period 2014 to 2022. Optics & optoelectronics was the highest contributor to the global monocrystalline transparent ceramics market in 2015. In the same year, Asia-Pacific held the leading position, and is expected to lead in the near future.
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Monocrystalline transparent ceramics are used as a substitute to traditional glass, due to their superior mechanical properties with transparency similar to that of the glass. Improved and better durability, hardness, reduced optical losses, and improved reliability make it a more accepted alternative. Uniformity of the crystal structure is a critical component, which can be easily controlled while synthesizing monocrystalline ceramics as opposed to polycrystalline ceramics.
Rise in expenditure by the defense sector on development of advanced materials and associated technologies is expected to increase the market demand for monocrystalline transparent ceramics, owing to the numerous advantages it offers for the making defense oriented equipment's like ballistic-protecting armor and windows, face-shields, night-vision goggles. Technologies like tactical high-energy laser are thought to change the scenario of future battles. Monocrystalline transparent ceramics being thermally less expansive can eliminate the problem of periodic replacement of traditional materials.
According to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, "Increased application of monocrystalline transparent ceramics in optics & optoelectronics industries is expected to offer major opportunities to the global market. The Asia-Pacific region shows promising opportunity, due to the high volume of population, strong manufacturing base, and governmental policies favoring foreign investment, resulting in the development of the market in the emerging countries."
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High-cost associated with its manufacturing may slow down the overall growth. Non-recyclability leads to the loss of precious raw materials. However, the cost-reduction by reducing size but enhancing properties of materials is the biggest advantage offered in nanotechnology which is expected to positively influence the monocrystalline transparent ceramics market.
Sapphire material was the highest revenue generator in 2015, as the production techniques are analyzed and is a well-known material in various applications. It's exceptional mechanical strength and superior transparency makes it suitable to be used in optoelectronics. Sapphire is the first choice as a substrate or a base material in electronics & semiconductor industry. Its scratch-resistance properties are being harnessed in developing transparent armor and increasing protection of ballistic vehicles.
Optics & optoelectronics application generated highest revenue in 2015, since electronics industry has grown rapidly and lasers are being researched for various uses. Optoelectronic components utilize transparent ceramic materials as substrate for various electronic components. Use of lasers for cutting, packaging, inspection, surgical treatments, printers, and weaponry systems is increasing, which is expected to fuel the demand for monocrystalline transparent ceramics during the forecast period.
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Key findings of Monocrystalline Transparent Ceramics Market:
- The optics & optoelectronics application occupied the highest share in 2015, and is expected to grow at the highest CAGR, in terms of value, during the forecast period
- Asia-Pacific is the leading consumer of monocrystalline transparent ceramics, accounting for approximately one-third share of the global market, followed by North America in 2015
- Sapphire is expected to witness the highest CAGR during the forecast period
- China is the leading market in the Asia-Pacific region, accounted for three-fifths of the Asia-Pacific market in 2015
- Germany and UK collectively accounted for half of the Europe market in 2015
Asia-Pacific accounted for the largest market share in 2015, and is projected to grow at the highest CAGR during the forecast period. Monocrystalline ceramics can be used as substitutes to glass, metals, and plastics, and thus is an excellent choice for transparency-depending applications. Rise in defense expenditure on advanced material and technologies is expected to increase the market demand for monocrystalline transparent ceramics during the forecast period.
The key players profiled in this report include Brightcrystals Technology Inc., Ceramtec ETEC, Ceranova Corporation, CILAS, Coorstek Inc., II-VI Incorporated, Konoshima Chemicals Co., Ltd., Murata Manufacturing Co. Ltd., Schott AG, and Surmet Corporation.
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