The Global report on “Optical Ceramics Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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“The optical ceramics market is projected to register a CAGR of 15%, in terms of value, between 2018 and 2023.”
The market size of optical ceramics is estimated at USD 148 million in 2018 and is projected to reach USD 297 million by 2023, at a CAGR of 15%, between 2018 and 2023.The market growth is attributed to the increasing defense expenditure on advanced materials and technologies; and replacement of glass, metals, and plastics in several optical applications. However, the high cost of optical ceramics is restraining the growth of the market. Also, optical ceramics cannot be recycled and repaired which is the major challenge for the market growth. This, in turn, has affected the growth of the market.
“The sapphire material segment is projected to register the highest CAGR during the forecast period.”
Sapphire is an important optical ceramic material for manufacturing highly reliable electronic components owing to its exceptional chemical, mechanical, and optical properties. Sapphire possesses excellent properties such as high-temperature resistance, flexural strength, optical clarity, hardness, and chemical resistance. It is the fastest-growing material for optical ceramics and finds use in an array of end-use industries such as opto electronics and aerospace and defense & security. Increasing use of sapphire in these industries is driving the optical ceramics market.
“Optics & upto electronics is projected to be the fastest-growing end-use industry of optical ceramics during the forecast period.”
Optics & opto electronics is the largest end-use industry of optical ceramics market. The development of smart technologies and its implementation in electronic component manufacturing is strengthening the use of optical ceramics in this industry. Optical ceramics are widely used in various opto electronics applications such as laser instrumentation, communications devices, sensors, and RF (Radio Frequency) communications. Increasing investments in the optics & opto electronics industry by manufacturers and growing demand for the optical components is fueling the market growth.
“APAC is projected to be the fastest-growing optical ceramics market during the forecast period.”
APAC is the fastest-growing market, in terms of both production and demand. It is evolving as the most developing region in the geographical landscape for the electronics market. Emerging economies such as India, China, and South Korea have been the major revenue pockets for the APAC electronics market. The consistent technological innovations are being made in the opto electronics industry in the region, which has resulted in the abundance of manufacturers establishing manufacturing facilities in previously unexplored niche and developing markets. These factors are fueling the optical ceramics market in the APAC region.
This study was validated through primary interviews conducted with various industry experts, worldwide. The primary sources were divided into three categories, namely, company type, designation, and region.
- By Company Type– Tier1: 57%, Tier2: 29%, and Tier3: 14%
- By Designation–C Level: 43%, Director Level: 35%, and Others: 22%
- By Region–North America: 19%, APAC: 40%Europe: 30%, Middle East & Africa: 6%,and South America: 5%
The report profiles several leading players of the optical ceramics market that include Surmet Corporation (US), CeramTec (Germany), II-VI Optical Systems (US), Schott AG (Germany), CeraNova (US), CoorsTek (US), Kyocera (Japan), Saint- Gobain (France), Konoshima Chemicals (Japan), and Murata Manufacturing (Japan). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the optical ceramics market.
The report offers insights on optical ceramics used in various end-use industries across regions. It aims at estimating the size of the optical ceramics market during the forecast period and projects future growth of the market across the material, end-use industry, and region segments. The report also includes an in-depth competitive analysis of the key players in the optical ceramics market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in the optical ceramics market by providing them with the closest approximations of the revenues for the overall market and its various sub segments. This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies. The report will also help stake holders understand the pulse of the market and help acquire information on key market drivers, restraints, challenges, and opportunities affecting the growth of the optical ceramics market.
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