Transparent Ceramics Market Product Driving Factors, Capacity and Growth Rate Analysis to 2024

Posted on 2021-01-15 by researchinsights in Chemicals // 0 Comments

Felton, California , USA, Jan 15, 2021 — /EPR Network/ —

The global Transparent Ceramics Market size is anticipated to reach USD 1.1 billion by 2024. It is projected to expand at a CAGR of 22.4% over the forecast period on account of its increasing demand from various application sectors as an alternative for traditional glass technologies in numerous functions for instance armors, optical fibers, lasers and infrared domes.

The increasing emphasis on deployment cutting and laser tools is enhancing the transparent ceramics market globally. In addition, growing penetration of transparent ceramics on account of its excellent properties as compared with conventional ceramics is presumed to fuel the expansion over the forecast period.

The product consists of materials which are transparent under the electromagnetic wave as well as UV and IR light. Some of its materials provide multipurpose and special properties which are appropriate for lasers and scintillators.

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Transparent Ceramics Material Outlook (Revenue, USD Million, 2013 – 2024)

Sapphire
Yttrium Aluminum Garnet
Aluminum Oxynitride
Spinel
Others

Transparent Ceramics Product Outlook (Revenue, USD Million, 2013 – 2024)

Monocrystalline
Polycrystalline
Others

Transparent Ceramics Application Outlook (Revenue, USD Million, 2013 – 2024)

Optics & Optoelectronics
Aerospace, Defense & Security
Mechanical/Chemical
Sensors & Instrumentation
Healthcare
Consumer
Energy
Others

The major players are continuously engaged in R&D activities for new product development and innovations with an aim of strengthening their foothold in the market and achieve a competitive edge over the competitors.

The major participants include Coorstek, Schott AG., Surmet Corporation, IBD Deisenroth Engineering, Murata Manufacturing Co. Ltd., CeramTec, Koito Manufacturing and Ceranova. The increase in the applications for transparent ceramics is anticipated to provide a competitive advantage to the market participants.

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Asia Pacific accounted for approximately 45.0% of the total market share in the year 2015. The demand in this region is fueled by the increasing application of the product on account of its excellent properties. In addition, the rising demand for iron & steel and defense sectors owing to rapid industrialization is presumed to boost the overall growth.

The availability of raw materials at cheaper rates along with large number of manufacturers and suppliers is a crucial factor for the market growth in this region. China is expected to lead the growth of Asia Pacific during the analysis period.

The U.S. market was estimated at USD 20.90 million in the year 2015 and occupied more than 60.0% of the total revenue share in the North America. In addition, increasing expenditure of the country in defense sector is projected to fuel the demand over the forecast period.

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