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Surmet Corporation (US) and CeramTec (Germany) are the Key Players in the Optical Ceramics Market

 

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.

Optical ceramics are an alternative to single-crystal technology and conventional glass technologies in various new applications, including infrared domes and high-energy radiation detection. The technological advancement in the production of optical ceramics has led to the usage of optical ceramics in niche applications such as inertial confinement nuclear fusion and automobiles. Thus, the increasing demand for optical ceramics in niche applications is providing excellent growth opportunities for the manufacturers.

Sapphire is the largest and fastest-growing material for optical ceramics owing to the presence of a large number of manufacturers producing this material. Also, sapphire finds use in an array of end-use industries such as optoelectronics and aerospace and defence & security, which is driving the market.


Optics & optoelectronics is expected to be the largest and fastest-growing end-use industry during the forecast period

The end-use industries of optical ceramics include optics & optoelectronics, aerospace and defence & security, energy, and others (medical imaging). The use of optical ceramics is increasing in the optics & optoelectronics segment as glasses & halides, sulfides, and selenides, which are used as an alternative to ceramics materials that have limited scope in this segment. Therefore, the demand for polycrystalline ceramics is increasing owing to their superior mechanical and optical properties.

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Although optics & optoelectronics accounted for the largest market share in 2017 and is expected to be the fastest-growing segment during the forecast period; aerospace, the defence & security application segment is likely to hold tremendous opportunities for growth. This growth is attributed to the technological advancements and innovations in the defence & security equipment such as body armors & helmets and vehicle & aircraft.

North America is projected to be the largest market during the forecast period.

On the basis of region, the optical ceramics market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. The growth of the optics & optoelectronics industry in the emerging economies is driving the market. APAC is projected to register the highest CAGR during the forecast period. This is attributed to the high economic growth rate, growing manufacturing sector, low-cost labour, and the global shift of the consumption and production capacities from the developed markets to the emerging markets in APAC.

Key Market Players

The key players profiled in this 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).

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