Transparent Ceramics Market Explores New Growth Opportunities By 2024
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.
Full
Research Report On Global Transparent Ceramics Market By Grand View
Research:
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:
www.grandviewresearch.com/industry/advanced-materials
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
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-transparent-ceramics-market
www.grandviewresearch.com/press-release/global-transparent-ceramics-market
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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Information: www.grandviewresearch.com
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