Optical Ceramics Market Growth Offers Room to Grow to Existing & Emerging Players
OCT 20, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Optical Ceramics Market.
Optical Ceramics Market is likely to witness an impressive CAGR of 14.8% during the forecast period. The key factor that is contributing to the demand for optical ceramics is mainly attributed to its increasing usage in various industrial applications, such as aerospace & defense, medical, and optics & optoelectronics.
Optical ceramics are advanced ceramics which are optically transparent. They are the transparent polycrystalline materials which can be used in place of single crystals. In order to make ceramic transparent, there is a need to eliminate the inner pore and impurity along with the birefringence effect.
Optical ceramics possess various properties, such as high thermal resistance, strength, hardness, and scratch resistance; and are also, electrically resistant.
Based on the material type, the market is segmented as sapphire, aluminum oxynitride, spinel, yttrium aluminum garnet (YAG), and others. The sapphire segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The widespread usage of sapphire as optical windows in military sensor systems to super market checkout windows, and as transparent armor to as sheets, tubes & rods in various industrial applications is driving the growth of this segment.
Based on the end-use industry type, the optical ceramics market is segmented as optics and optoelectronics, aerospace and defense & security, energy, and others. The optics & optoelectronics segment dominates the market as optical ceramics are the advanced industrial materials developed mainly for their usage in various optics & optoelectronic applications, such as windows, domes, lenses, lamp envelopes, lasers, etc.
In terms of regions, North America is estimated to be the largest market and is expected to remain the dominant region, fueled by the high demand for optical ceramics in the USA. The dominance of the region is attributed to the high demand from the USA’s defense department for transparent armor for personnel protection in both, air and ground vehicles and infrared windows for air reconnaissance applications. Asia-Pacific is expected to be the fastest-growing market for optical ceramics during the forecast period. China, Japan, and India are the major growth engines of the Asia-Pacific’s optical ceramics market during the forecast period.
Key Players
- II-VI Optical Systems
- CeraNova Corporation
- CeramTec GmbH
- Surmet Corporation
- Schott AG
- CoorsTek Corporation
- Murata Manufacturing Co. Ltd.
- Konoshima Chemicals Co. Ltd.
- Kyocera Corporation
- Saint-Gobain S.A.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Optical Ceramics Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Customization of the Report:
This report can be customized to meet the client’s requirements. In order to provide more accurate market forecast, all the reports are updated before delivery.
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