Transparent Ceramics Market: Key Highlights
· Theglobal transparent ceramics market was valuedat ~ US$ 275 Mn in 2018, and is anticipated to expand at aCAGR of ~ 22% during the forecast period.
· Theglobal transparent ceramics market is driven by the rise in the demand forelectrical & electronics (E&E) and sensors & instrumentationapplications.
· AsiaPacific accounts for a prominent share of the global transparent ceramicsmarket, led by an increase in the demand for electric, electronic, andhealthcare products in the region.
Key Drivers of the Global Transparent CeramicsMarket
· Transparentceramics are used as optically transparent materials in different forms. Theglobal transparent ceramics market is anticipated to expand rapidly during theforecast period, owing to the increase in the adoption of energy-efficientmaterials across the world.
· Transparentceramics are widely employed in the production of components of eco-friendlyoptical fibers and humidity sensors. This is likely to drive the globaltransparent ceramics market during the forecast period.
· Growth ofthe medical industry, led by the rise in population, is projected to drive theglobal transparent ceramics market during the forecast period. Energy-savingpotential, cost-saving potential, and durability of transparent ceramics arekey factors likely to augment the global market during the forecast period.
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Sapphire Material to Offer Attractive Opportunities
· Thesapphire segment accounted for a major share of the global transparent ceramicsmarket in 2018. It is estimated to be a highly attractivesegment during the forecast period. Sapphire-based transparent ceramics areused in a broad range of end-use industries such as optoelectronics, aerospace& defense, and security.
· Sapphireis a single-crystal aluminum oxide (Al2O3), which is primarily used when standard glass andtechnical ceramics cannot meet the demand of certain applications in terms ofhigh transparency. It possesses exceptional optical properties such as highultraviolet and infrared optical characteristics, high resistance to wear andscratches, high thermal conductivity, and high co-efficiency of linearexpansion.
· Single-crystalaluminum oxide is an excellent ceramic oxide with a wide range of applications,including adsorbents, catalysts, microelectronics, chemicals, etc. It isapplied in aerospace and other high-technology fields also.
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High Cost of Transparent Ceramics Likely to HamperMarket
· Transparentceramics require machining to obtain components with a specific shape and size,before they are employed in end-use industries, which entails high capitalcosts. This factor is hampering the global transparent ceramics market.Transparent ceramics are generally used in all major applications such asoptics, aerospace, spacecraft, chemical, mechanical, and consumer products.
· The highcost of transparent ceramics is likely to restrain the market in the nearfuture. Furthermore, the high prices of raw materials raise the cost of theseceramics, thereby increasing the prices of end products. Thus, end-useindustries are compelled to seek low-cost substitutes for these raw materials.
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Asia Pacific a Prominent Transparent CeramicsMarket
· AsiaPacific accounted for a prominent share of the global transparent ceramicsmarket. The region is expected to offer immense growth opportunities to thetransparent ceramics market during the forecast period. Strong industrialgrowth is projected to fuel the demand for transparent ceramics in differentapplications in electrical & electronics (E&E) and healthcareindustries during the forecast period. Additionally, growth of the military& defense sector in Asia Pacific led by the rise in government investmentsin the sector fuels the transparent ceramics market in the region.
· Chinaaccounts for a substantial share of the transparent ceramics market in AsiaPacific, owing to the increased demand for defense equipment in the countryover the last few years. The Government in China supports advances in thecountry's technological production capabilities. China’s National Developmentand Reform Commission is in process of supervising a multi-trillion-dollarnationwide project to industrialize the underdeveloped Western provinces of thecountry. This project would support the continuation of high growth rates ofautomotive and electronics industries in the country. This, in turn, isprojected to drive the transparent ceramics market in China during the forecastperiod.
· Countriesof ASEAN are investing highly and making significant advances in research onand commercialization of ceramic products. According to the U.S.–ASEAN BusinessCouncil, the sub-region is expected to become the fourth-largest economy in theworld after China, India, and the U.S. by 2050, surpassing theEuropean Union and Japan.
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Top Five Players Accounted for ~ 40% of MarketShare in 2018
The global transparent ceramics market is dominated by a few large andmedium players that operate across the globe. The top five players, i.e. 3M,II-VI Optical Systems, SCHOTT AG, Surmet Corporation, and CeramTec, accountedfor ~ 40% of the market share in 2018. The globaltransparent ceramics market is dominated by II-VI Optical Systems, which is thelargest manufacturer of transparent ceramics across the world.
II-VI Optical Systems designs, develops, and produces integrated opticalcomponents, optical assemblies, and optical systems for use in advancedapplications. It also designs, manufactures, assembles, and tests precisionoptical systems and components such as visible, infrared, and laser-basedsystems and subassemblies. The company invests in mergers and acquisitions inorder to maintain its leading position in the transparent ceramics market.
· In August2017, II-VIOptical Systems acquired Kaiam Laser Limited, Inc., a privately-held companybased in Newton Aycliffe, the U.K. The latter currently operates as II-VICompound Semiconductor Ltd. within the former’s II-VI Laser Solutions operatingsegment.
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