Transparent Ceramics Market Analysis

Transparent Ceramics Market Analysis

The global transparent ceramics market size is segmented, based on product, as sapphire, magnesium aluminate spinel, yttria alumina garnet (YAG), aluminum oxynitride, and other niche products such as yttrium oxide, nanocomposites etc. Sapphire glass, or simply sapphire, occupied the largest share in the market by generating more than USD 150 million in 2018 with several major players involved in the market. It is one of the hardest products in the world, second only to diamond. Its various characteristic like scratch resistance, transparency, and resistance to harsh environment makes  it an ideal fit for military and optoelectronic applications.
 

Aluminum oxynitride is another important product in the transparent ceramics market share which is likely to exhibit the fastest growth rate with CAGR more than 25% from 2019 to 2025. It has a polycrystalline form with a cubic spinel crystal structure. This product is only manufactured by Surmet Corporation as a low cost replacement of sapphire. This product has high optical transmission which lies between near-UV to mid-IR wavelengths. It is majorly used in the defense applications followed by aerospace, semiconductor, mining, energy etc.
 

The major applications in the global transparent ceramics market share are optoelectronics, defense & security, aerospace & aviation, healthcare equipment, and others. Defense & security is a largest application section accounting for more than 30% of the market in 2018. Increasing government expenditure on development of defense capacity in nations across the world is likely to drive this segment’s growth in the forecast timeframe.
 

Healthcare equipment application segment is likely to grow at the highest rate over the study period. This is due to extensive product usage in applications such as radiation detection, laser treatments, medical imaging, etc. The high optical transmission along with specific functional features such as mechanical and thermal stability of polycrystalline transparent ceramics make it a suitable alternative for these applications. Rising developments in the medical industry would augment the transparent ceramics market demand in the future.
 

North America held a majority share in the global market owing to the region’s large spending in the defense sector. As the product is extensively used in the defense sector, a majority demand for the product comes from this region. Another reason is the presence of large number of manufacturers in this region like Surmet corporation, Coorstek Corporation etc. U.S. accounted for the largest share in the North America transparent ceramics market in 2018 driven by the mature optoelectronics and defense sector.
 

Another significant region in the market is Asia Pacific which is likely to grow at in the fastest pace over the study period. This is due to growing demand from its optoelectronics industry. The product is extensively used in production of optically active devices, such as scintillators, laser systems, amplifiers, etc. Improving consumer income, rising population and digitalization in this region would increase the demand for such electronic equipment, which would in turn increase the transparent ceramics market demand in the study period.