A lead analyst at AMR highlighted that the transparent ceramics market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
Allied Market Research published a research report on the transparent ceramics market. The findings of the report states that the global market for transparent ceramics generated $0.4 billion in 2020 and is projected to reach $2.0 billion by 2030, growing at a CAGR of 19.0% from 2021 to 2030.The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Increase in the use of transparent ceramics as a substitute to glass, metal, and plastics, rise in need for quality and superior products in the construction industry, and extensive use of transparent ceramics industrial, transportation, and commercial facilities are expected to drive the growth of the global transparent ceramics market. On the other hand, extortionate cost of transparent ceramics is expected to hinder the growth to some extent. However, wide application of transparent ceramics as a substitute for glass, metal, and plastics is expected to create ample opportunities for the industry.
“Increased expenditure by the defense sector on the development of advanced materials and associated technologies are expected to increase the market demand of transparent ceramics due to the numerous advantages it offers for the making of defense-oriented equipment such as ballistic protecting armor and windows, face-shields, and night-vision goggles. Technologies such as tactical high-energy lasers are thought to change the scenario of future battles. Transparent ceramics being thermally less expansive can eliminate the problem of periodic replacement of traditional materials. Cost-reduction by reducing size however enhancing properties of materials is the biggest advantage offered in nanotechnology, which is anticipated to influence the market,” says Eswara Prasad Manager, Chemicals & Materials at Allied Market Research.
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The report provides a detailed scenario of the impact of the Covid-19 pandemic on the transparent ceramics market globally. The outbreak of COVID-19 has had a negative impact on the growth of the global transparent ceramics market, owing to the presence of lockdowns in various countries across the globe. Lockdowns resulted in the large-scale closure of various industries including aerospace, instrumentation, and consumer goods industries, resulting in reduced usage of transparent ceramics in these industries. In addition, stringent import and export restrictions on transparent ceramics further aggravated the impact on the market.
The report offers a detailed segmentation on the global transparent ceramics market based on type, material, end-use industry and region.
Based on type, the monocrystalline transparent ceramics segment held the largest market share in 2020, garnering around two-fifths of the global market. The polycrystalline transparent ceramics segment, on the other hand, is expected to the cite the fastest CAGR of 20.8% during the forecast period. Other segments analyzed in the report include Aerospace, Defense &Security, Mechanical/Chemical, Sensors & Instrumentation, Healthcare, Consumer Goods, and Energy.
Based on end-use, the optics & optoelectronics segment held the majority market share in 2020, holding nearly one-third of the global market. In addition, the same segment is expected to cite the fastest CAGR of 21.9% during the forecast period.
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Based on region, the market across North America held the lion’s share in 2020, garnering nearly one-third of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 21.0% during the forecast period.
The key players analyzed in the global transparent ceramics market report include American Elements, Saint-Gobain, GmbH, CeraNova, CoorsTek Inc., Konoshima Chemical Co.Ltd, Kyocera Corporation, Schott AG, Surmet Corporation, General Electric, and CeramTec.
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