Transparent Ceramics Market by Type, Material, End-User Industry, and Region - Global Forecast to 2022
LONDON, Sept. 4, 2017 /PRNewswire/ --
"The global transparent ceramics market is projected to grow at a CAGR of 21.3% from 2017 to 2022"
The transparent ceramics market was valued at USD 219.2 million in 2016 and is projected to reach USD 698.1 million by 2022, at a CAGR of 21.3% between 2017 and 2022.The market has witnessed high growth in recent years owing to the increasing applications of transparent ceramics, growing demand in the Asia-Pacific region, and technological advancements. Transparent ceramics are largely used in the optics & optoelectronics; aerospace, defense & security; and sensors & instrumentation end-user industries, owing to their superior mechanical properties and high mechanical strength as compared to conventional materials, such as glass, metal, and plastics. The rapid growth of the transparent ceramics market is largely driven by the growth in these end-use industries.
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However, the low availability and high cost of specialized raw materials required in the manufacturing process, along with the economic slowdown in Western Europe and the U.S. affecting the economy of other developed countries, can restrain the growth of this market.
"Polycrystalline transparent ceramics is the second-largest segment of the transparent ceramics market"
Polycrystalline transparent ceramics are being rapidly adopted due to their application-specific properties, including high thermal shock resistance, high temperature strength, chemical corrosion resistance, and erosion resistance and mechanical properties, such as high strength, fracture toughness, and impact & scratch resistance. High flexibility, ease in the production of larger shapes, and low cost are the other advantages that have led to the increasing adoption of polycrystalline transparent ceramics across various end-user industries.
"Yttrium aluminum garnet is the largest material segment global transparent ceramics market"
Yttrium aluminum garnet has high thermal and chemical stability and unique homogeneous optical properties. Hence, it is primarily used in high-temperature structural materials. The demand for YAG-based transparent ceramics is increasing across applications, such as lasers, medicine, manufacturing, aerospace, defense & security, laser materials, and so on. YAG is considered as an alternative to sapphire as an optical material, due to its high optical transmission, mechanical strength, high thermal conductivity, and uniform index of refraction. The YAG material doesn't show double refraction and hence is suitable for optical systems and durable materials for windows. The emerging applications of YAG include gas turbine engines, high intensity lamps, cathode ray tube, and lasers.
"Aerospace, defense & security is the second largest material segment global transparent ceramics market"
Aerospace, defense & security is the second largest segment consuming transparent ceramics. Owing to their lightweight, fracture toughness, damage tolerance, and high temperature tolerance, transparent ceramics are used widely in various aerospace, defense & security applications. These ceramics are used to manufacture body armor & helmets and vehicle & aircraft armor. The technological advancements in military & defense equipment in the U.S. and various countries in Asia-Pacific and Europe are expected to drive the growth of the transparent ceramics market in the aerospace, defense & security end-use industry.
"The Asia-Pacific was the fastest growing market for the global transparent ceramics market in 2016"
Asia-Pacific was the largest market of transparent ceramics in 2016, growth of this regional market is driven by the rising demand from electronics and defense industries in major economies such as China and India. Asia-Pacific is also estimated to be the fastest-growing transparent ceramics market. Asia-Pacific accounted for a share of 33.5% of the transparent ceramics market in 2016.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 35 %, Tier 2 – 30%, Tier 3 – 35%
• By Designation: C level – 25%, Director level – 30%, Others – 45%
• By Region: Asia-Pacific – 45%, Europe – 25%, North America – 25%, RoW – 5%
*Others includes sales, marketing, and product managers
Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as CoorsTek Inc. (U.S.), Surmet Corporation (U.S.), Schott AG (Germany), and II-VI Optical Systems (U.S.), CILAS (France), Brightcrystals Technology Inc. (China), and CeramTec-ETEC GmbH (Germany), among others.
Research Coverage:
The report defines, segments, and projects the global transparent ceramics market on the basis of type, end-use industry, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It also strategically profiles key players and comprehensively analyzes their market share and core competencies and tracks and analyzes competitive developments such as partnerships, contracts, and joint ventures; mergers & acquisitions; expansions; new product launches; and research & development activities in the market.
REASONS TO BUY THE REPORT:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall transparent ceramics market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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