The Monocrystalline Transparent Ceramics Market size is forecast to reach around $500 million by 2025, after growing at a CAGR of 21% during 2020-2025. The demand for monocrystalline transparent ceramics is growing due to its superior mechanical properties across various applications as a substitute to the traditional glass. The Monocrystalline transparent ceramic offers various benefits such as reduced optical loss, better durability, and improved reliability, that makes it as an useful product across defense, automotive, and electric and electronics sectors. Besides, the growing investment by the defense sector for the development of advanced materials and equipment’s and associated technologies including ballistic-protecting armor and windows, face-shield, and night vision goggles further propels the growth of Monocrystalline Transparent Ceramics market size during the forecast period.
Material Type – Segment Analysis
The sapphire segment is projected to witness a highest CAGR of around 25% in the Monocrystalline Transparent Ceramics market during the forecast period due to widely used in the various application include optoelectronics, energy, aerospace, and defense security. Furthermore, due to high electrical resistance, high mechanical and dielectric strength, and high ultraviolet and infrared optical characteristics makes make sapphire the most widely used material in cutting tools and lasers applications.
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Application – Segment Analysis
The Optics & optoelectronics segment held the largest share of more than 22% in the global Monocrystalline Transparent Ceramics market in 2019. This is attributed to the growing uses of sapphire materials across various application of Optics & optoelectronics like photodiodes, phototransistors, lasers, laser diodes, LEDs, infrared homing for electromagnetic radiations, and optical fiber communications. Additionally, increasing use of high mechanical strength, high chemical and physical stability, and low absorption in the infrared range of Monocrystalline products for optics and optoelectronics is likely to drive the growth of this market during the forecast period.
Geography – Segment Analysis
Among the regions, the APAC holds the largest share of more than 35% in the global Monocrystalline Transparent Ceramics market followed by North America and Europe during the forecast period. The growing demand from electronics and aviation and defense industries across China and India is fuelling the growth of this market in the APAC region. Furthermore, the growing consumer and e-commerce sectors is also contributing for the growth of Monocrystalline Transparent Ceramics market share across the APAC region.
Drivers – Monocrystalline Transparent Ceramics Market
Growing medical sector worldwide
The properties of Monocrystalline Transparent Ceramics include resistance from thermal expansion, high resistant to humidity, flexibility, excellent high-temperature electrical resistivity, and weathering conditions, which makes it extensively useful for various medical applications such as surgical tools, posterior capsular opacification, dental restoration, thermographic imaging, and medical imaging machines. Furthermore, the use of Monocrystalline transparent ceramics material offers various benefits in terms of quality, safety, and visibility. Whereas, according to the Government of India (GoI), the Indian medical tourism market is growing at the rate of 18% and is expected to reach $ 9 billion by 2020. Furthermore, the Government of India (GoI) aims to invest 3% of the GDP in the healthcare sector by 2022 along with the country is also focusing on to open the number of medical colleges across the country. This growth in the medical sector is driving also contributing to the growth of the global Monocrystalline Transparent Ceramics market during the forecast period.
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Challenges – Monocrystalline Transparent Ceramics Market
Selection of a proper material composition and availability of other alternatives
The selection of a proper material composition is one of the most challenging factors to destroy the optical uniformity of ceramic body and cause the scattering of light. Furthermore, the presence of lack of skilled labor and training centers are also hampering the market growth. However, if there is a greater difference in material composition, then there should be a greater difference in refractive index that leads to lower the light transmittance of the whole ceramic. Hence, the highly skilled operator is required to select a proper material composition in order to maintain the quality of the end product like the crystal boundary region of Monocrystalline transparent ceramics should be thin, better light matching, no porosity and inclusion, and dislocation. However, the availability of polycrystalline transparent ceramics as an alternative material acts as a restraining factor for the growth of monocrystalline transparent ceramics market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Monocrystalline Transparent Ceramics market report. Major players in the Monocrystalline Transparent Ceramics industry outlook are Murata Manufacturing Co., Ltd., Ceranova Corporation, Ceramtec-Etec GmbH, Konoshima Chemicals Co., Ltd., Schott AG, Advanced Ceramic Manufacturing, LLC, Ceradyne Inc., CILAS, and Brightcrystals Technology Inc., Coorstek, Inc., Surmet Corporation, among others.
In 2018, CeraNova Corporation, completed the process for ISO 9001:2015 Certification and received its ISO Certificate from CIC Management, LLC. With this certificate, the products and services provided by CeraNova meet certified quality processes and standards along with meet customer requirements and enhance customer satisfaction.
In Asia-Pacific region, China and India are the major emerging market for the Monocrystalline Transparent Ceramics owing to growing industrialization and developing aviation sector.
In comparison with the resin optical materials, Monocrystalline transparent ceramics are stronger, harder, more resistant to corrosion, and high temperature can be used in extremely severe conditions. These properties are likely to aid in the growth of global Monocrystalline Transparent Ceramics market industry.
The high cost of the Monocrystalline Transparent Ceramics is hampering the growth of Monocrystalline Transparent Ceramics market share during the forecast period.
The outbreak of COVID-19 is also considered as the major restraining factor to the market growth over the forecast period. COVID-19 pandemic has badly impacted the global supply chain and world economy. Besides, Industries are being shuttered all around the globe due to lockdown. Hence, demand is declining from various industry verticals acts as a restraining factor to the market growth.
A. Transparent Ceramics Market
B. Glass Ceramics Market
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