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Transparent Ceramics Market Overview
Transparent ceramics are polycrystalline materials with certain light transmittance, which are stronger, harder, and more corrosion-resistant in comparison to optical resin and glass materials.
On the basis of end use, the global transparent ceramics market has been categorized into aerospace & defense, electrical & electronics, energy, medical, and others. A significant market demand is expected to arise from the aerospace & defense application, during the forecast period (2020–2030), owing to the high-volume usage of transparent ceramics in advanced optical domes, windows, and transparent armor for aircraft. With the increasing aircraft production in countries such as the U.S. and Brazil, the demand for transparent ceramics is expected to surge.
Geographically, the transparent ceramics market has been categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). The market in APAC is expected to account for a significant share throughout the forecast period. This can be ascribed to the high government spending on the defense sector, owing to a rise in security threats. For instance, in February 2020, the Indian government allocated $66.9 billion (INR 4,71,378 crore) to the defense sector, for the fiscal year 2020–2021, which is a significant hike from the allocation of $44.5 billion (INR 3,18,000 crore) for the fiscal year 2019–2020. In addition, as per Stockholm International Peace Research Institute (SIPRI), the U.S. defense spending stood at $649 billion, which was more than the next seven countries combined (China, Saudi Arabia, India, France, Russia, U.K., and Germany).
Transparent Ceramics Market Dynamics
Several countries are investing heavily on defense aircraft procurement, owing to the concerns regarding national security, which is driving the transparent ceramics market growth. In addition, with the increasing passenger footfall in Southeast Asian as well as European countries, the overall aircraft production is likely to increase, thereby creating a high demand for transparent ceramics. For instance, in January 2019, The Boeing Company won new orders for 893 airplanes, which was a rise from the order received in 2018 for 806 airplanes. Owing to such factors, transparent ceramics are expected to witness a high demand from the aerospace & defense sector, during the forecast period.
The market for transparent ceramics holds immense opportunities of growth, with their ability to serve as an alternative to current glass and single-crystal technologies, for a wide range of end products, such as optical fibers, lasers, and armors. With the increasing awareness about transparent ceramics and their advantages, along with the rising investments in research and development of transparent ceramics, the market would offer lucrative growth opportunities to the players, during the forecast period.
Transparent Ceramics Market Competitive Landscape
Some of the players in the global transparent ceramics market are American Elements, CeramTec GmbH, CeraNova Corporation, Saint-Gobain Crystals, and Surmet Corporation.
Segmentation of the Global Transparent Ceramics Market
The report offers the size of the global transparent Ceramics market for the period 2014–2030.
The report will also provide a country-wise analysis. Some of the major countries that are covered in the report are the U.S., Canada, France, Germany, the U.K., Italy, China, Japan, India, South Korea, Brazil, Argentina, Saudi Arabia, and South Africa.
Market Segmentation by Material
Market Segmentation by End Use
Market Segmentation by Geography