The Global "Transparent Ceramics Market" is expected to grow at a CAGR of 21% during the forecasting period (2022-2029).
Metrics |
Details |
Market CAGR |
21% |
Segments Covered |
By Material, By Application and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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Transparent Ceramics are defined as inorganic, non-metallic polycrystalline materials that transmit light with wavelengths in the visible electromagnetic spectrum. These inorganic, non-metallic, polycrystalline materials are characterized by light transmission invisible as well as ultraviolet to an infrared range of the electromagnetic spectrum.
The global transparent ceramics market is primarily driven by its efficiency to work as a substitute for glass, metal, and plastics. Also, an increase in aerospace & defense expenditure on advanced materials and technologies are some of the factors driving the market growth. With the rising demand for commercial aircraft, some new production programs are emerging from outside the United States and Europe, especially from Russia and China.
China is the second-largest defense-spending nation after the US. In 2018, China’s defense budget grew 8.1 percent year over year to US$175 billion, which is the largest increase in the past three years. It is expected that the country’s defense expenditure will grow by more than ~9% shortly.
However, its non-recyclable and non-repairable nature may hamper the growth of the market during the forecast period.
By material, the global Transparent Ceramics market is segmented into Sapphire, Yttrium Aluminum Garnet, Aluminum Oxynitride, Spinel, and Others. Sapphire is the most commonly used ceramic material in the aerospace sector, including the advanced optical domes, transparent armor, and conformal optical windows, owing to its properties, such as abrasion resistance, high operating temperature, and high strength. Increasing demand and production of new aircraft in the sector is likely to drive the growth of this segment during the forecast period.
By application, the global transparent ceramics market is segmented into aerospace and defense & security, mechanical/chemical, healthcare, consumer goods, energy, and others. In 2018, Aerospace and Defense & Security segment accounted for the major share in the global market. They are largely used in the aerospace, military vehicles, and defense sector. Mainly because of high-strength, stiffness, resistance to chemical and heat, among others, make these ceramics ideal for application in the defense and security sector.
By geography, the global transparent ceramics market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, APAC accounted for the largest market share in the global transparent ceramics market. It is expected to witness significant growth, owing to high government spending on the infrastructure sector and rising opportunities for Foreign Direct Investment (FDI), especially in countries like China and India. Moreover, the demand for transparent ceramics in APAC is largely driven by the growing aviation sector. Transparent ceramics are widely used in helicopters and planes as sensors, armors, and ceramic guards. It is expected that India will become the “third largest” aviation market and supply ~478 million passengers by 2036. In 2018-2019, India’s defense budget was US$43.8 billion, a 7.7 percent increase from the 2017–2018 budget.
The defense and security industry is growing, owing to the need for security across the world. Besides, countries such as the United States, China, and Russia have increased their defense spending, which may accelerate the consumption of transparent ceramics over the forecast period.
Transparent Ceramics market is highly competitive, and thus, manufacturers continuously focus on developing new strategies to grab more customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Transparent Ceramics. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Transparent Ceramics. Merger, acquisition, and product development are key strategies adopted by leading players.
For instance, CoorsTek acquired the Philips ceramics operation in Uden, Netherlands.
The major players include CoorsTek Inc., Surmet Corporation, Schott AG, II-VI Optical Systems, and CILAS. Other prominent players in the market are Brightcrystals Technology Inc., CeramTec-ETEC GmbH, Morgan Advanced Materials PLC, Rauschert Steinbach GmbH, and Saint-Gobain Ceramics & Plastics, Inc.
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What is the Transparent Ceramics Market growth?
The market is growing at a CAGR of 8.3%.
What is Transparent Ceramics Market size in 2021
The Transparent Ceramics Market size was valued at USD YY million in 2021.
Who are the key players in Transparent Ceramics Market?
Major players are oorsTek Inc., Surmet Corporation, Schott AG, II-VI Optical Systems, and CILAS. Other prominent players in the market are Brightcrystals Technology Inc., CeramTec-ETEC GmbH, Morgan Advanced Materials PLC