Allied Market Research published a report, titled, “Transparent Aluminum Market by Material (Aluminum, Oxygen, and Nitrogen), and By End use Industry (Building and Construction, Healthcare, Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2031.” According to the report, the global transparent aluminum industry was valued at $5.2 million in 2021 and is estimated to generate $27.8 million by 2031, witnessing a CAGR of 10.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers, Restraints, and Opportunities:
Extensive usage of transparent aluminum in the steel industry to make refractory bricks, usage in thermal engineering and the production of high temperature-based crucibles, and usage in the defense industry for the production of bullet resistant glasses drive the global transparent aluminum market. However, transparent aluminum is more expensive than windshield glasses, which is likely to hinder market growth during the forecast period. On the other hand, major government efforts for localization and enormous revenue expansion and capitalizing on the synergies in defense & space industry will present new growth opportunities for the global market in the coming years.
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic negatively impacted the global transparent aluminum market, as it disturbed the supply chain and hampered the production and the demand of aluminum.
- Furthermore, COVID-19 affected the financial elements of transparent aluminum businesses. In 2020, prices of transparent aluminum were high across the globe, which was due to continued regional demand trends and tight product availability.
- However, the sales of transparent aluminum are expected to increase post pandemic, owing to increase in the demand from building & construction, healthcare manufacturing devices, and defense industry.
The oxygen segment to dominate the market during the forecast period
Based on material, the oxygen segment contributed to the largest share of more than half of the global transparent aluminum market in 2021 and is expected to maintain its dominance during the forecast period. Also, the same segment is projected to witness the fastest CAGR of 10.4% from 2022 to 2031. The growth of the segment is driven by a sudden rise in demand by the concentration of oxygen production plants in the industrial belt of eastern India. Oxygen plays an important role in the production process of transparent aluminum. Aluminum oxynitride is used for the production of infrared windows which are significant components in the atmospheric greenhouse effect. Infrared windows balances incoming solar radiation and outgoing IR to space, hence they are widely preferred in electric panels, residential and commercial sectors. The report also discusses aluminum and nitrogen segments.
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The defense segment to maintain its leadership during the forecast period
Based on end use, the defense segment grabbed the highest share of nearly three-fifths of the overall transparent aluminum market in 2021 and is expected to dominate the market during the forecast period. The same segment is projected to witness the fastest CAGR of 10.5% from 2022 to 2031. The growth is attributed to increasing investments in the transmission & distribution (T&D) industry for efficiently transporting electricity to various defense equipment at various stages. On the other hand, transparent aluminum is crystal clear, and it easily absorbs infrared radiation, which makes it ideal for heat-seeking missiles and other infrared technology. The report also analyzes building and construction, healthcare, and others segments.
North America to achieve the largest revenue by 2031
Based on region, the market in North America was the largest in 2021, accounting for 100% of the global transparent aluminum market and is likely to maintain its dominance during the forecast timeframe. The same region is likely to show the fastest CAGR of 11.5% during the forecast period. The growth is attributed to the ongoing building and construction activities, government support, and investment in the healthcare, defense, automotive, and semiconductor industry. The report also studies Europe, Asia-Pacific, and LAMEA regions.
Leading Market Players
- AMERICAN ELEMENTS,
- Ceranova
- INNOVACERA
- Murata Manufacturing Co., Ltd.
- Saint Gobain
- CoorsTek Inc,
- KYOCERA Fineceramics Europe GmbH
- POLYCRYSTAL design GmbH
- Surmet Corporation
- CeramTec GmbH
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