q 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 global optical ceramics market is driven by the increasing defence expenditure on advanced materials and technologies. Optical ceramics are used as a substitute for glass, metals, and plastics, which is boosting the market.
Browse 61
market data Tables and 33 Figures spread through 112 Pages and
in-depth TOC on "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"
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CeramTec is a portfolio company of Cinven, a
European private equity firm since 2013. It is a manufacturer and supplier of a
wide range of ceramics. It has an extensive portfolio of over 10,000 different
products of engineered ceramic materials. The advanced ceramic products offered
by the company are used across industries such as automotive, electronics,
mechanical, and medical.
The company aims at expanding into lucrative market
segments, such as lighting technology, sensor technology, and mobility, in
addition to its presence in the medical application segment. CeramTec makes
extensive use of its R&D activities to innovate safe and cost-effective
methods of manufacturing advanced ceramics. The company has a strong presence
in the European region and is increasing its presence in APAC. It has adopted
organic as well as inorganic growth strategies to maintain its foothold in the
global optical ceramics market. For instance, in 2017, CeramTec agreed on the
acquisition of the UK Electro-Ceramics business, including two of its
manufacturing sites at Ruabon and Southampton, from Morgan Advanced Materials
plc (UK). This acquisition helped the company explore new markets, new
application areas, and new developments in optical ceramics.
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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.
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.
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