Global Optical Ceramics Market was valued at US$ 170.3 Mn in 2019 and is expected to reach US$ 485.6 Mn by 2027, at a CAGR of 16.79 % during the forecast period.
Global Optical Ceramics Market
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Global Optical Ceramics Market Dynamics:
Optical Ceramic is a long-lasting crystalline advanced industrial material with great optical transparency in the near ultraviolet, visible & infrared up to approximately 5 m wavelengths. Optical Ceramic is fabricated using a proprietary powder processing technique. The driving factor of global optical ceramics market is the possibility of production of reasonably priced and large-sized materials for large area detection. Applications of transparent ceramics include glass, tubes, high-energy radiation detection, lasers, optical fibers, automobile windshields, electronic gadget displays, armors & missile domes.
Global Optical Ceramics Market Segment Analysis:
Based on the material segment, Sapphire is estimated to be the fastest-growing segment of the global optical ceramics market during the forecast period, whereas yttrium aluminium garnet (YAG) is the second-fastest growing by material segment. Yttrium aluminium garnet is witnessing growing requests in emerging applications including gas turbine engines, high-intensity lamps, cathode ray tubes, and manufacturing of lasers, which is estimated to drive its growth of the global optical ceramics market.
Based on end-use industries of optical ceramics market & optoelectronics is expected to be fastest-growing industry during the forecast period. Increasing use of optical ceramics in the optics & optoelectronics segment as glasses & halides, sulfides, & selenides which are alternatives for ceramics material causes a high demand for polycrystalline ceramics.
Therefore, the demand for polycrystalline ceramics is increasing owing to their superior mechanical and optical properties. Although optics & optoelectronics accounted for the largest market share in 2019 and is expected to be the fastest-growing segment during the forecast period aerospace, the defense & security application segment is likely to hold tremendous opportunities for growth. This growth is attributed to the technological advancements and innovations in the defense & security equipment such as body armors & helmets and vehicle & aircraft.
Global Optical Ceramics Market Regional Insights:
In terms of region, APAC is the fastest-growing market, in terms of both production and demand. Higher domestic requests, easy availability of raw materials, and low-cost labor make APAC the most preferred destination for the manufacturers of optical ceramics. Increasing manufacturing of optoelectronic devices with touchscreen displays using materials such as sapphire and Yttrium aluminium garnet in Japan, China, and India is anticipated to deliver impetus to the market growth.
The report offers a complete assessment of the market via detailed qualitative insights, historical data, and verifiable projections about market size. The estimates featured in the report have been derived using proven research methodologies and expectations. The examination report serves as a source of study and information for every surface of the market, including but not incomplete to regional markets, technology, types, and applications.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding Optical Ceramics market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence.
Global Optical Ceramics Market, Key Highlights:
• Global Optical Ceramics Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Optical Ceramics Market
• Global Optical Ceramics Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Optical Ceramics Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Optical Ceramics Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Optical Ceramics Market are also profiled.
Scope of the Global Optical Ceramics Market Report: Inquire before buying
Global Optical Ceramics Market, by Type
• Monocrystalline Optical Ceramics
• Polycrystalline Optical Ceramics
Global Optical Ceramics Market, by Material
• Aluminum Oxynitride
• Yttrium Aluminum Garnet (YAG)
Global Optical Ceramics Market, by End-Use Industry
• Optics & Optoelectronics
• Aerospace and Defense & Security
Global Optical Ceramics Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in the Global Optical Ceramics Market:
• II-VI Optical Systems
• Surmet Corporation
• Schott AG
• Konoshima Chemicals
• Advanced Ceramic Manufacturing
• Blasch Precision Ceramics
• Ceradyne, Inc.
• Mcdanel Advanced Ceramic Technologies
• Rauschert GmbH
• Ird Glass
• Applied Ceramics
• Rayotek Scientific Inc.
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