According to the report published by Allied Market Research, the Transparent Ceramics Market by Type (Monocrystalline Transparent Ceramics, Polycrystalline Transparent Ceramics, and Others), Material (Sapphire, Yttrium Aluminum Garnet, Spinel, Aluminum Oxynitride, and Others), and End-use Industry (Optics & Optoelectronics, Aerospace, Defense &Security, Mechanical/Chemical, Sensors & Instrumentation, Healthcare, Consumer Goods, and Energy): Global Opportunity Analysis and Industry Forecast 2021-2030. The global transparent ceramics market was estimated at $0.4 billion in 2020 and is expected to hit $2.0 billion by 2030, registering a CAGR of 19.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Increasing defense expenditure on advanced materials and technologies drives the growth of the global transparent ceramics market. On the other hand, high cost of transparent ceramics impedes the growth to some extent. However, advancements in nanotechnology and augmented demand in niche applications are projected to pave the way for lucrative opportunities in the industry.
The key market 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. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
Covid-19 scenario-
- The outbreak of the pandemic gave way to declined demand for transparent ceramics from the aerospace, instrumentation, and consumer goods industries, since operations in these sectors almost came to closure, due to several lockdown measures.
- However, with the mass inoculation drive on board, the global situation is getting better, and the market is anticipated to recoup soon.
The global transparent ceramics industry is analyzed across type, material, end-use, and region. Based on type, the monocrystalline transparent ceramics segment contributed to around two-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The polycrystalline transparent ceramics segment, however, would exhibit the fastest CAGR of 20.8% during the forecast period.
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Based on end-use, the optics & optoelectronics segment contributed to nearly one-third of the total market revenue each in 2020, and is projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 21.9% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering nearly one-third of the global market. Asia-Pacific, simultaneously, would manifest the fastest CAGR of 21.0% throughout the forecast period.
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