The high growth of niche applications consuming optical ceramics across the world, coupled with efficient and superior properties of optical ceramics, is driving the market.
Adroit Market Research report on the global optical ceramics market gives the industry a holistic view of the forecast period from 2020 to 2028, including factors such as market dynamics, constraints, opportunities, challenges and regulatory overview. From 2018 to 2028, the demand was evaluated, with a base year forecast for 2019 and a prediction for 2020 to 2028. The study covers the current market status and future characteristics, both at the global and national level. In addition, with Porter's analysis of five strengths, the study also assesses market rivalry and positions leading players on the basis of their product range, regional presence, strategic initiatives and overall sales.
Due to the increasing demand for optical ceramics in medical applications and the need to minimize the cost of production by deploying optical ceramics in high-temperature applications, the optical ceramics market is experiencing considerable growth. The optical ceramics industry has been divided into sapphire, aluminum oxynitride, spinel, yttrium aluminum garnet (YAg) and others on the basis of materials. During the forecast period, Sapphire is expected to be the fastest growing segment of the optical ceramics industry, while yttrium aluminum garnet (YAG) is the second fastest growing segment in the material segment. In new applications such as gas turbine engines, high-intensity lamps, cathode ray tubes and laser processing, Yttrium aluminium garnet is seeing growing demand, which is expected to fuel its development in the optical ceramics industry.
The optical ceramics end-use industries include optics & optoelectronics, aerospace & defense & security, energy, and others (medical imaging). In the optics & optoelectronics segment, the use of optical ceramics is growing as glasses & halides, sulphides, and selenides are used as an alternative to ceramic products that have limited reach in this segment. Therefore, owing to their superior mechanical and optical properties, the market for polycrystalline ceramics is growing.
While the largest market share was accounted for by optics & optoelectronics in 2017 and is projected to be the fastest-growing segment during the forecast era, the aerospace, defense & security application segment is likely to have considerable growth opportunities. The technical developments and inventions in defense & protection equipment such as body armors & helmets and vehicles & aircraft are contributed to this development.
Key Segments of the Global Optical Ceramics Market
Material Overview, 2018-2028 (USD Million) (Kilo Tons)
- Aluminum Oxynitride
End-use Method, 2018-2028 (USD Million) (Kilo Tons)
- Optics & Optoelectronics
- Aerospace and Defense & Security
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America