Northbrook, IL 60062 -- (SBWire) -- 08/08/2023 --The report "Optical Ceramics Market by Material (Sapphire, Aluminum Oxynitride, Spinel), End-use (Optics & Optoelectronics, Aerospace and Defense & Security, Energy), Region (North America, Europe, APAC, South America, Middle East & Africa) - Global Forecast to 2023" The optical ceramics market is projected to grow from USD 148 million in 2018 to USD 297 million by 2023, at a CAGR of 15%, between 2018 and 2023. The global optical ceramics market is driven by the increasing defense expenditure on advanced materials and technologies. Optical ceramics are used as a substitute for glass, metals, and plastics, which is boosting the market.
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61 market data Tables
33 Figures
112 Pages
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On the basis of material, the sapphire segment is estimated to lead the optical ceramics market during the forecast period.
Sapphire is the fastest-growing material for optical ceramics owing to the presence of a large number of manufacturers producing this material. Sapphire (single crystal aluminum oxide) is primarily used where standard glass and technical ceramics cannot meet the high transparency demand of specific applications. It possesses exceptional optical properties such as high ultraviolet and infrared optical characteristics, high wear & scratch resistance, and high thermal conductivity & co-efficiency of linear expansion, among others. Sapphire is most widely preferred optical ceramics material owing to its easy availability, ease of manufacturing, and suitability for a wide range of optical applications. Demand for synthetic sapphire is gaining significant momentum for production of optical windows due to its excellent scratch-resistant properties and exceptional transparency to the wavelength of light. Innumerable properties of sapphire contribute to its wide use in the optical ceramics market.
High demand in the optics & optoelectronics industry owing to excellent properties, including its high ultraviolet and infrared optical characteristics, of optical ceramics is projected to lead the market during the forecast period.
Optics & optoelectronics is the fastest-growing end-use industry of optical ceramics. Optical ceramics are used in lamps (primarily LEDs), CMOS (complementary metal–oxide–semiconductor) image sensors, laser pick-ups, CCD (charge-coupled devices) image sensors, displays, couplers, infrared, and laser transmitters. Consumption of these optical components is increasing as optoelectronics sales are getting a remarkable enhancement due to the growing demand for light sensors, which are used in smart watches and smartphones for proximity detection, heart rate monitoring, and color sensing. The increasing usage of optical ceramics in these products has led to the growth of the market in the optics & optoelectronics segment.
High economic growth rate and growing optoelectronics industry in China, Japan, and India are projected to lead the optical ceramics market in APAC during the forecast period.
APAC is the fastest-growing market, in terms of both production and demand. Higher domestic demand, easy availability of raw materials, and low-cost labor make APAC the most preferred destination for the manufacturers of optical ceramics. Increasing manufacturing of optoelectronic devices with touchscreen displays using materials such as sapphire and Yttrium aluminium garnet in Japan, China, and India is anticipated to deliver impetus to the market growth.
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The key players in the optical ceramics market include CeramTec (Germany), Schott AG (Germany), Surmet Corporation (US), II-VI Optical Systems (US), CeraNova (US), Kyocera (Japan), CoorsTek (US), Konoshima Chemicals (Japan), Saint- Gobain (France), and Murata Manufacturing (Japan). These players have established a strong foothold in the market by adopting strategies such as expansion, new product launch, and merger & acquisition.
Optical Ceramics Market – Analysis, Industry Size and Market Growth Factors : Top Key Players
The global optical ceramics market is driven by the increasing defense expenditure on advanced materials and technologies.