Press release
Transparent Ceramics Market to register 20% CAGR over 2019-2025 | key players are Kyocera, Saint-Gobain, Coorstek Corporation, Surmet Corporation, CeraNova Corporation, Konoshima Chemicals, Schott AG
Transparent Ceramics Market
North America will majorly drive the growth of global optoelectronics market owing to the surge in demand for premium passenger cars and increasing automobile production. The upsurge witnessed in the Chinese optoelectronics market along with escalating demand of various optoelectronic products in developing economies such as India, South Korea, etc. will further prosper the growth of global optoelectronics industry. This trend will boost the growth of transparent ceramics market during the forecast timeframe.
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Another factor that will supplement the demand for transparent ceramics during the forecast timeframe is the superior mechanical characteristics of the product as compared to standard glass. These products are much stronger than conventional glass, which makes them scratch proof, enhances their life and makes them suitable in high-wear applications.
Additionally, these products have high thermal resistance which makes them suitable for the use in dental kiln, blasting cubicles, etc. However, the issue of recyclability associated with the transparent ceramic materials might hamper the market growth during the forecast timeframe.
Aluminum oxynitride will witness highest CAGR among the product types, during the forecast timeframe. This can be attributed to the extensive use of product based optical ceramics in defense sector such as transparent armor for aircrafts, helicopters, ground vehicles, etc. The product is also seen as the cost-effective replacement for sapphire which will also boost the growth of this product segment in near future
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Among the application segments, healthcare equipment will have a substantial market share throughout the forecast period. Higher thermal and mechanical stability coupled with higher optical transmission associated with transparent ceramics makes them suitable for this application segment. Transparent ceramics are used for medical imaging, laser treatments, radiation detection, etc.
In the regional segmentation, Europe is likely to occupy a significant market share throughout the forecast period due to growing regional optoelectronics industry coupled with rising government investment in defense sector.
Asia Pacific region will have the highest CAGR during the forecast timeframe. It can be attributed to the escalation in the regional optoelectronics industry. Rapidly increasing digitalization in the region, coupled with increasing population and rising disposable income will boost the demand of optoelectronic products, which in turn, will prosper the growth of transparent ceramic industry in the near future.
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Transparent ceramics industry share is extremely competitive, with numerous players. The main players include Kyocera, Saint-Gobain, Coorstek Corporation, Surmet Corporation, CeraNova Corporation, Konoshima Chemicals, Schott AG, Rubicon Technology, Hansol Technics, Crystalwise Technology, Almatis GmbH, CeramTech GmbH, etc.
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