Global Transparent Ceramics Market - Segmented by Type, Material, Application, and Region - Growth, Trends, and Forecast (2018 - 2023)
The global transparent ceramics market is expected grow at a significant rate during the forecast period, majorly driven by the growing demand from the aerospace and defense sector. Transparent ceramics promise to greatly expand the availability of low-cost, high-quality components in much larger sizes than possible with traditional crystals.
Growing Demand from Aerospace and Defense Sector Driving the Market
The aerospace market is consistently developing and looking forward, with the deployment of new technologies, from advanced fighter jets to commercial jetliners and advanced next generation missile systems. For all the aforementioned aircrafts and systems, the usage of transparent ceramics plays a vital role as the primary material for numerous on-board components, thus majorly driving the market.
Sapphire the Fastest Growing Material
Sapphire is the fastest growing segment and is projected to grow rapidly during the forecast period. There is a high potential for sapphire across various industry verticals, such as optoelectronics, energy, aerospace & defense, and security, amongst others. Sapphire (single crystal aluminum oxide) is primarily used where standard glass and technical ceramics cannot meet the high transparency demand of the specific applications.
Asia-Pacific dominating the Transparent Ceramics Market
Asia-Pacific was the largest market for transparent ceramics in 2017. Growth in the regional market is driven by the rising demand from the electronics and defense industries in major economies such as China and India. Recently, Apple announced that it is going to start its manufacturing base in Bengaluru, Karnataka. In 2016, another major mobile manufacturing company, Xiaomi, said they are gearing up their assembly plants in India by starting a second assembly point. These projects are likely to further propel the demand for transparent ceramics for electronic assembling operations in India.
Major Players: Ceramatec, Philips, Coorstek, and Murata, amongst others.
Reason to Purchase the Report
To understand the impact of various product type on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type and end-user industry in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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