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Optical Ceramics Market | Key players operating in the market include CeramTec, Schott AG, Surmet Corp, CeraNova, Kyocera

12-07-2021 09:52 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Optical Ceramics Market, Glass Ceramics Market

Optical Ceramics Market, Glass Ceramics Market

According to recent market research "Optical Ceramics Market by Material (Sapphire, Aluminum Oxynitride, Spinel), End-use (Optics & Optoelectronics, Aerospace and Defense & Security, Energy), Region (North America, Europe, APAC, South America, Middle East & Africa) - Global Forecast to 2023", The optical ceramics market is projected to grow from USD 148 million in 2018 to USD 297 million by 2023, at a CAGR of 15%, between 2018 and 2023. The global optical ceramics market is driven by the increasing defense expenditure on advanced materials and technologies. Optical ceramics are used as a substitute for glass, metals, and plastics, which is boosting the market.

Browse 61 market data Tables and 33 Figures spread through 112 Pages and in-depth TOC on "Optical Ceramics Market - Global Forecast to 2023"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/optical-ceramics-market-189287328.html

Sapphire is the fastest-growing material for optical ceramics owing to the presence of a large number of manufacturers producing this material. Sapphire (single crystal aluminum oxide) is primarily used where standard glass and technical ceramics cannot meet the high transparency demand of specific applications. It possesses exceptional optical properties such as high ultraviolet and infrared optical characteristics, high wear & scratch resistance, and high thermal conductivity & co-efficiency of linear expansion, among others. Sapphire is most widely preferred optical ceramics material owing to its easy availability, ease of manufacturing, and suitability for a wide range of optical applications. Demand for synthetic sapphire is gaining significant momentum for production of optical windows due to its excellent scratch-resistant properties and exceptional transparency to the wavelength of light. Innumerable properties of sapphire contribute to its wide use in the optical ceramics market.

Optics & optoelectronics is the fastest-growing end-use industry of optical ceramics. Optical ceramics are used in lamps (primarily LEDs), CMOS (complementary metal–oxide–semiconductor) image sensors, laser pick-ups, CCD (charge-coupled devices) image sensors, displays, couplers, infrared, and laser transmitters. Consumption of these optical components is increasing as optoelectronics sales are getting a remarkable enhancement due to the growing demand for light sensors, which are used in smart watches and smartphones for proximity detection, heart rate monitoring, and color sensing. The increasing usage of optical ceramics in these products has led to the growth of the market in the optics & optoelectronics segment.

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The market size of optical ceramics is estimated at USD 148 million in 2018 and is projected to reach USD 297 million by 2023, at a CAGR of 15%, between 2018 and 2023. The global optical ceramics market is driven by the increasing defense expenditure on advanced materials and technologies. Optical ceramics are used as a substitute for glass, metals, and plastics, which is boosting the market.

Optical ceramics are defined as transparent or translucent polycrystalline ceramics that are used in optical applications. They derive their effectiveness from their reaction to infrared, optical, and ultraviolet light. The use of optical ceramics, as an essential material in the production of optical components, in optoelectronics, and aerospace and defense & security industries is increasing significantly.
The key players in the optical ceramics market include Surmet Corporation (US), CeramTec (Germany), II-VI Optical Systems (US), Schott AG (Germany), CeraNova (US), CoorsTek (US), Kyocera (Japan), Saint- Gobain (France), Konoshima Chemicals (Japan), and Murata Manufacturing (Japan). The optical ceramics market report analyzes the key growth strategies adopted by the leading market players between 2013 and 2019, which include expansion, new product launch, and merger & acquisition.

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Surmet Corporation is a provider of advanced material solutions and emphasizes on next-generation machines, systems, and applications. The company is a major supplier of transparent armor and optical ceramic components to the defense & aerospace industry. The transparent ceramics manufactured by the company are used across various applications such as missile domes, reconnaissance windows, and laser windows. The company has managed to gain a niche in the advanced ceramics market by providing various transparent ceramic materials. Surmet Corporation was awarded Corporate Technical Achievement Award (CTAA) by The American Ceramic Society’s (ACerS) for the development and commercialization of ALON Transparent Optical Ceramics in June 2013. The company successfully demonstrated that large, transparent, and non-oxide polycrystalline ceramics could be produced for high-performance multi-functional applications.

CeramTec is a portfolio company of Cinven, a European private equity firm since 2013. It is a manufacturer and supplier of a wide range of ceramics. It has an extensive portfolio of over 10,000 different products of engineered ceramic materials. The advanced ceramic products offered by the company are used across industries such as automotive, electronics, mechanical, and medical. The company aims at expanding into lucrative market segments, such as lighting technology, sensor technology, and mobility, in addition to its presence in the medical application segment. CeramTec makes extensive use of its R&D activities to innovate safe and cost-effective methods of manufacturing advanced ceramics. The company has a strong presence in the European region and is increasing its presence in APAC. It has adopted organic as well as inorganic growth strategies to maintain its foothold in the global optical ceramics market. For instance, in 2017, CeramTec agreed on the acquisition of the UK Electro-Ceramics business, including two of its manufacturing sites at Ruabon and Southampton, from Morgan Advanced Materials plc (UK). This acquisition helped the company explore new markets, new application areas, and new developments in optical ceramics.

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