Exploring the Growth Potential of the Global Optical Ceramics Market

According to a study, the global optical ceramics market is expected to reach around $20.6 billion by 2030, driven by increasing demand for these materials in the automotive, aerospace, and healthcare sectors. Advances in optical components, such as lasers and nonlinear optics, are opening up new avenues for growth. The growing application of laser-based technologies in the medical sector is expected to be a major factor driving the optical ceramics market. Additionally, the emergence of advanced materials such as ultra-high temperature ceramics and zeolite ceramics is likely to create lucrative opportunities over the projected period.

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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"

The optical ceramics market is expected to benefit from the increasing deployment of 3D printing and high-precision machining technologies in the production of optical components. This helps manufacturers improve their output, creating cost savings and boosting efficiency. Moreover, the emergence of multi-functional smart glasses is expected to create a variety of opportunities for optical ceramics. Advances in ultraviolet laser technology is also likely to fuel the growth of the market. Furthermore, the growing popularity of voice-controlled semiconductor devices is expected to provide further growth opportunities in the near future.

The market size of optical ceramics is estimated at USD 148 million in 2018 and projected to reach USD 297 million by 2023, at a CAGR of 15%. The global optical ceramics market is driven by the increasing defense expenditure on advanced materials and technologies. Optical ceramics are used as a substitute for glass, metals, and plastics, which is boosting the growth of the market.

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Optical ceramics are defined as transparent or translucent polycrystalline ceramics that are used in optical applications. They derive their effectiveness from their reaction to infrared, optical, and ultraviolet light. The use of optical ceramics, as an essential material in the production of optical components, in optoelectronics, and aerospace and defense & security industries is increasing significantly. ??????

The key players in the optical ceramics market include Surmet Corporation (US), CeramTec (Germany), II-VI Optical Systems (US), Schott AG (Germany), CeraNova (US), CoorsTek (US), Kyocera (Japan), Saint- Gobain (France), Konoshima Chemicals (Japan), and Murata Manufacturing (Japan). The optical ceramics market report analyzes the key growth strategies adopted by the leading market players between 2013 and 2019, which include expansion, new product launch, and merger & acquisition.

Surmet Corporation is a provider of advanced material solutions and emphasizes on next-generation machines, systems, and applications. The company is a major supplier of transparent armor and optical ceramic components to the defense & aerospace industry. The transparent ceramics manufactured by the company are used across various applications such as missile domes, reconnaissance windows, and laser windows. The company has managed to gain a niche in the advanced ceramics market by providing various transparent ceramic materials. Surmet Corporation was awarded Corporate Technical Achievement Award (CTAA) by The American Ceramic Society’s (ACerS) for the development and commercialization of ALON Transparent Optical Ceramics in June 2013. The company successfully demonstrated that large, transparent, and non-oxide polycrystalline ceramics could be produced for high-performance multi-functional applications.

CeramTec – The Ceramic Experts 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.

Increasing defense expenditure on advanced materials and technologies expected to drive the market during the forecast period

The market size of optical ceramics is estimated to be USD 148 million in 2018 and is projected to reach USD 297 million by 2023, at a CAGR of 15%. The global optical ceramics market is driven by the increasing investments on advanced materials and technologies in the defense and optoelectronics industries. Several newer applications of optical ceramics including transparent armors, infrared optics are expected to lead the market in the near future. Optical ceramics are used as a substitute for glass, metals, and plastics, which is anticipated to further boost the market.

Optical ceramics are widely used in the defense sector in reconnaissance & sensor windows, night vision systems, and windows for laser communications among other applications. These ceramics are also used in electromagnetic (EM) radomes, IR domes, sensor protection, and multi-spectral windows due to their abrasion resistance and excellent thermal stability.

Optical ceramic materials, including sapphire, are used in high-speed infrared-guided missile domes. Increasing demand for optical ceramics in these industries is fueling the optical ceramics market. Optical ceramics are used as 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 their usage 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 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 defense & security, which is driving the market. Sapphire can be manufactured in complex geometries and large sizes in high volume, which makes it ideal for use in several optical applications. It exhibits optical properties and is transparent from near-ultraviolet through mid-wave infrared frequencies, which is boosting the demand for sapphire in precision optical components.

Optics & optoelectronics is the largest and fastest-growing end-use industry of optical ceramics market. This industry is engaged in the production of optical systems, including optical measurement and laser technology. Optical ceramics find use in a wide range of applications such as CMOS (complementary metal–oxide–semiconductor) image sensors, displays, couplers, laser pick-ups, lamps (primarily LEDs), infrared, CCD (charge-coupled devices) image sensors, and laser transmitters. Increasing investments in optoelectronics manufacturing and the usage of optical ceramics in these products have led to the growth of the market in the optics & optoelectronics end-use industry.

APAC is the fastest-growing market, in terms of both production and demand. China is the leading consumer of optical ceramics in the region owing to the presence of a developed electronics sector, high domestic demand, and easy availability of raw materials. APAC is the strategic location for manufacturing optoelectronic components due to the availability of low-cost labor and growing demand from end-use industries.

Other than China, Japan and India are the major markets for optical ceramics in the region owing to the growth of optoelectronics applications in these countries. Increasing opportunities from the optoelectronics industry in China, Japan, and India, along with the rise in demand from other countries, including Taiwan and South Korea, are expected to support the APAC optical ceramics market in gaining significant momentum.