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SAN FRANCISCO , June 30, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Transparent Ceramics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE Edition: 6; Released: January 2021 Executive Engagements: 4796 Companies: 26 - Players covered include CeramTec GmbH; CeraNova Corporation; CoorsTek, Inc.; II-VI Optical Systems; Konoshima Chemical Co., Ltd.; Kyocera Corporation; Saint-Gobain Ceramics & Plastics, Inc; SCHOTT AG ; Surmet Corporation and Others. Coverage: All major geographies and key segments Segments: End-Use (Optics & Optoelectronics, Aerospace, Defense & Security, Mechanical/Chemical, Sensors & Instrumentation, Healthcare, Consumer Goods/Electronics, Energy, Other End-Uses); Material (Sapphire, Yttrium Aluminum Garnet (YAG), Aluminum Oxynitride, Spinel, Other Materials); Type (Monocrystalline Transparent Ceramics, Polycrystalline Transparent Ceramics, Other Types) Geographies: World; USA ; Canada ; Japan ; China ; Europe ; France ; Germany ; Italy ; UK; Spain ; Russia ; Rest of Europe ; Asia-Pacific ; Australia ; India ; South Korea ; Rest of Asia-Pacific ; Latin America ; Argentina ; Brazil ; Mexico ; Rest of Latin America ; Middle East ; Iran ; Israel ; Saudi Arabia ; UAE; Rest of Middle East ; Africa .
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Global Transparent Ceramics Market to Reach $716.9 Million by 2026
Transparent ceramics are inorganic, non-metallic solid materials, which allow desired wavelengths to be transmitted through them. Derived from silica based via a crystalline process, the crystalline and glassy transparent ceramics find use as optically transparent materials in varied forms including coatings, thin films and fibers. Transparent ceramics are increasingly emerging as substitutes to conventional glass technologies as well as single crystal technologies in applications such as infrared domes, lasers, armors, optical fibers and high energy radiation detection. Amid the COVID-19 crisis, the global market for Transparent Ceramics estimated at US$293.6 Million in the year 2020, is projected to reach a revised size of US$716.9 Million by 2026, growing at a CAGR of 16.4% over the analysis period. Monocrystalline Transparent Ceramics, one of the segments analyzed in the report, is projected to grow at a 18.5% CAGR to reach US$419.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polycrystalline Transparent Ceramics segment is readjusted to a revised 15.7% CAGR for the next 7-year period. This segment currently accounts for a 37.6% share of the global Transparent Ceramics market.
The U.S. Market is Estimated at $67.4 Million in 2021, While China is Forecast to Reach $156.7 Million by 2026
The Transparent Ceramics market in the U.S. is estimated at US$67.4 Million in the year 2021. The country currently accounts for a 21.38% share in the global market. China , the world second largest economy, is forecast to reach an estimated market size of US$156.7 Million in the year 2026 trailing a CAGR of 20.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 13.3% and 15% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 13.9% CAGR while Rest of European market (as defined in the study) will reach US$192.1 Million by the close of the analysis period.
Growing demand for lightweight and high performance materials exhibiting wear resistance and energy saving properties is favoring growth in the market. Due to superior properties such as high mechanical strength in comparison to conventional materials such as metal, glass or plastics along with improved visibility, lighter weight and high durability, the use of transparent ceramics continues to grow in aerospace & defense, optics & optoelectronics, and sensors & instrumentation sectors. Specifically the growing needs of the aerospace, defense and security sectors constitute a key factor fueling market growth. Also, with increasing focus on miniaturization of electronic devices, components, and equipment, there is growing demand for transparent ceramics. Potential growth opportunities emerge from the rising application of transparent ceramics in medical and housing sectors. Optics and optoelectronics constitute the major application category in transparent ceramics market. In the fabrication of solid state lasers, transparent ceramics find use as optical windows for host materials, gas lasers
By Material Type, Sapphire Segment to Reach $331.4 Million by 2026
In the aerospace sector, sapphire is the most widely used ceramic material. Due to its properties such as high operating temperature, high strength and abrasion resistance, sapphire is used in applications such as conformal optical windows, advanced optical domes and transparent armor. Also with defense spending growing in various nations, there is positive outlook for transparent ceramics to be used in various defense and security applications. Global market for Sapphire (Material) segment is estimated at US$116.3 Million in 2020, and is projected to reach US$331.4 Million by 2026 reflecting a compounded annual growth rate of 19.5% over the analysis period 2020-2027. United States constitutes the largest regional market for Sapphire segment, accounting for 22.5% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 23.3% over the analysis period, to reach US$91 Million by the end of the analysis period. More
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