The global transparent
ceramics market is expected to reach USD 1.08 billion by 2024,
according to a new report by Grand View Research, Inc. Increasing demand for
the product in various industries including electronics, aviation, and
healthcare as a substitute for existing glass technologies in numerous function
such as armors, optical fibers, domes(infrared) & lasers is expected to
drive demand. Expansion of these end-use industries is predicted to fuel the
industry growth further over the next eight years.
Rising focus on utilizing cutting & laser tools
across the world, on account of rapid industrialization and turnaround of the
manufacturing sector, is expected to propel growth. The increase of the
ceramics industry is also driving expansion over the next eight years.
The global market for transparent ceramics was valued
at USD 178.5 million in 2015 and is expected to witness growth over the
forecast period on account of rising manufacturing facilities in emerging
markets of Asia Pacific such as India and China coupled with increasing
expenditure on defense on improved & enhanced technology. Growing need from
end-user industries such as chemical & mechanical industries,
instrumentation & sensor and optics & optoelectronics is expected to
stimulate expansion.
Browse full research report on Global Transparent
Ceramics Market: http://www.grandviewresearch.com/industry-analysis/transparent-ceramics-market
Further
key findings from the report suggest:
- Transparent ceramics blankets are suitable for high-temperature
procedures. Lightweight, low thermal conductivity & heat storage,
soaring temperature stability, outstanding handling power & fire
protection, corrosion and thermal shock resistance and resistance are some
of the properties owing to which blankets are preferred. The market is
likely to witness growth at a CAGR of 21.8% from 2016 to 2024.
- The transparent ceramics demand in optic & optoelectronics was
USD 61.4 million in 2015. These products are used in medical &
healthcare industries. Advancements in the healthcare sector across the
globe is expected to drive industry development over the forecast period.
- Asia Pacific contributed to 47.1% of the global market in 2015 and
is projected to witness massive expansion in light of augmented government
expenditure on the industrial sector and increasing opportunities for FDI
in China and India. Rising demand for defense and iron & steel on
account of rapid industrialization is expected to drive growth.
- The Middle East & Africa is expected to observe considerable
gains at a CAGR of 20.9% from 2016 to 2024. Increasing expenditure on
aviation & defense by governments in the Middle East is expected to
propel growth.
- Key industry players include Surmet Corporation, CoorsTek, Murata
Manufacturing Co. Ltd., ETEC, and Koito Manufacturing. These companies
focus on research for product development to enhance their portfolio.
Also, numerous research institutes are also focusing on R&D for
increasing the application scope of transparent ceramics. For instance, in
April 2014, the U.S. Naval Research Laboratory (NRL) developed a method
that fabricates nanocrystalline spinel, which is 50% harder than the
existing spinel armor materials utilized in military vehicles.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/advanced-materials
Grand
View Research has segmented the global transparent ceramics market on the basis
of product, material, application and region:
Product
Outlook (Revenue, USD Million; 2016 - 2024)
- Sapphire
- Yttrium
Aluminum Garnet
- Aluminum
Oxynitride
- Spinel
- Others
Material
Outlook (Revenue, USD Million; 2016 - 2024)
- Monocrystalline
Transparent Ceramics
- Polycrystalline
Transparent Ceramics
- Others
Application
Outlook (Revenue, USD Million; 2016- 2024)
- Optics &
Optoelectronics
- Aerospace,
Defense & Security
- Mechanical/Chemical
- Sensors &
Instrumentation
- Healthcare
- Consumer
- Energy
- Others
Regional
Outlook (Revenue, USD Million; 2016 - 2024)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Chile
- MEA
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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