The optical ceramics market is expected to grow at a CAGR 14.29% rate during the forecast period. Growth in niche applications consuming optical ceramics across the world, coupled with efficient and superior properties of optical ceramics, are expected to drive the market.
By material type, Sapphire material is projected to be the fastest-growing segment of the overall optical ceramics market during the forecast period, followed by yttrium aluminum garnet (YAG) is placed at the second position. Increasing demand in emerging applications including gas turbine engines, high intensity lamps, cathode ray tube, and manufacturing of lasers are expected to drive its growth in the optical ceramics market.
Optical ceramics’ end-use industries are optics & optoelectronics, aerospace and defense & security, energy, and others (medical imaging). Optical ceramics is witnessing increased usage in the optics & optoelectronics segment as alternatives such as glasses & halides, sulfides, and selenides, have limited scope in this segment. Therefore, the demand for polycrystalline ceramics is increasing owing to their superior mechanical and optical property.
On the basis of region, APAC is projected to register the highest CAGR during the forecast period due to growth in the emerging economies, attributed to the high economic growth in manufacturing sector, low-cost labor, and the global shift of the consumption and production capacities from the developed markets to the emerging markets in APAC.
Key players in the optical ceramics market are II-VI Optical Systems (US), CeraNova (US), CeramTec (Germany), Surmet Corporation (US), Schott AG (Germany), CoorsTek (US), Murata Manufacturing Co. Ltd. (Japan), Konoshima Chemicals Co. Ltd. (Japan), Kyocera (Japan), and Saint- Gobain (France).
Key Questions Addressed by the Report
· Are there any upcoming hot bets for the optical ceramics market?
· How are the market dynamics for different materials of optical ceramics?
· What are the upcoming opportunities for different materials of optical ceramics in emerging economies?
· What are the significant trends in end-use industries influencing the optical ceramics market?
· Who are the major manufacturers of optical ceramics?
What are the factors governing the optical ceramics market in each region?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1.Substitute to Glass, Metals, and Plastics
3.1.2.Increasing Defense Expenditure on Advanced Materials and Technologies
3.2.1.High Cost of Optical Ceramics
3.2.2.Optical Ceramics Cannot Be Recycled and Repaired
3.3.1.Increasing Demand in Niche Applications
4. Executive Summary
5. Optical Ceramics Market, By Type
5.1. Monocrystalline Optical Ceramics
5.2. Polycrystalline Optical Ceramics
6. Optical Ceramics Market, By Material, By Form
6.2. Aluminum Oxynitride
6.4. Yttrium Aluminum Garnet (YAG)
7. Optical Ceramics Market, By End-Use Industry
7.1. Optics & Optoelectronics
7.2. Aerospace and Defense & Security
8. Optical Ceramics Market, By Region
8.1. North America
8.2.7.Rest of Europe
8.3. Asia Pacific
8.3.6.Rest of APAC
8.4. South America
8.4.3.Rest of South America
8.5. Middle East &Africa
8.5.1. South Africa
8.5.3.Rest of MEA
9. Company Profiles
9.1. II-VI Optical Systems
9.4. Surmet Corporation
9.5. Schott AG
9.8. Konoshima Chemicals
*Company introduction, financial information, recent developments, SWOT analysis
10. Conclusion and Recommendations
11.2. Related Reports