According to the new market research report “Transparent Ceramics Market by Type (Monocrystalline Transparent Ceramics, Polycrystalline Transparent Ceramics, Others), Material (Sapphire, Spinel), End-User Industry (Optics & Optoelectronics, Mechanical/Chemical), and Region – Global Forecast to 2022″, The transparent ceramics market was valued at USD 219.2 Million in 2016 and is projected to reach USD 698.1 Million by 2022, at a CAGR of 21.3% between 2017 and 2022.
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The growth of the transparent ceramics market is primarily triggered by the increasing use of transparent ceramics in the optics & optoelectronics; aerospace, defense & security; and sensors & instrumentation end-user industries, owing to their superior mechanical properties and high mechanical strength as compared to conventional materials, such as glass, metal, and plastics. The increased miniaturization of electronic devices, equipment, and components and the rise in the need for modernization in environmental engineering are also some of the factors driving the growth of the transparent ceramics market.
Monocrystalline transparent ceramics is the largest and the fastest growing segment of the transparent ceramics market, in 2016. Monocrystalline transparent ceramics are ideally suitable for applications that require high optical transparency and mechanical strength. Therefore, these are widely used optoelectronics and aerospace, defense & security applications. Monocrystalline transparent ceramics are increasingly being used in cutting tools and lasers applications, due to their high mechanical strength, high chemical and physical stability, and low absorption in the infrared range.
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The transparent ceramics market was valued at USD 219.2 Million in 2016 and is projected to reach USD 698.1 Million by 2022, at a CAGR of 21.3% between 2017 and 2022. Transparent ceramics are used in several applications such as thermography, laser interferometers, temperature (IR) sensors, optical fiber communications, cutting tools, and so on. They are increasingly replacing metals and plastics in applications where resistance to high temperatures and harsh chemical conditions is required, owing to their superior mechanical properties and high mechanical strength.CoorsTek Inc. (U.S.), Surmet Corporation (U.S.), Schott AG (Germany), and II-VI Optical Systems (U.S.), CILAS (France), Brightcrystals Technology Inc. (China), and CeramTec-ETEC GmbH (Germany) are some of the leading players in this market.
The key players operational in the mining lubricants markets are focusing on new product launches and acquisitions to cater the demand across various applications. CoorsTek, Inc. (U.S.) and Surmet Corporation (U.S.) have reported the highest number of developments in the global transparent ceramics market in recent years.
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In June 2016, CoorsTek acquired the Philips Ceramics operation in Uden, Netherlands. With this acquisition, CoorsTek expanded its ongoing strategic partnership with Philips, and would further increase its hold on the advanced ceramics market.
In March 2016, CoorsTek is investing USD 120 million to create a new Center for Advanced Materials in Golden, Colorado (U.S.). With this development, CoorsTek can develop next generation of engineered ceramics.
In June 2012, Surmet developed cost-effective ALON Transparent Armor Windows. This allows the ALON windows to be made in bigger size with increased strength that are required in ballistic applications. This helped the company increase the scope of transparent ceramics in ballistic applications.
In May 2012, Surmet increased the production of ALON Transparent Armor. The expansion strategy was undertaken in response to the increasing demand for ALON Transparent Armor in the defense and consumer application due to its excellent properties and applicability in high performance applications.
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