Transparent Ceramics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for transparent ceramics is expected to expand at a CAGR of more than 11% during the forecast period. Increasing demand in the aerospace and defense sector is one of the major factors driving the market studied.

Key Highlights

• The high cost of transparent ceramics is likely to hinder the growth of the market.
• Increasing demand in the medical sector is likely to act as an opportunity in the future.
• Asia-Pacific dominated the market across the globe with the largest consumption from countries, such as China and India.

Key Market Trends

Increasing Demand from the Aerospace and Defense Sector

• Currently, transparent ceramics are largely used in the aerospace, military vehicles, and defense sector.
• Properties, such as high-strength, stiffness, resistance to chemical and heat, etc., make these ceramics ideal for application in the defense and security sector.
• Transparent ceramics are lighter than most metals and stable at temperatures substantially above high-grade technical plastics. As a result of these and other properties, structural ceramic applications include thermal protection systems in rocket exhaust cones, insulating tiles for the space shuttle, missile nose cones, and engine components.
• Sapphire is the most commonly used ceramic material in the aerospace sector, including the advanced optical domes, transparent armor, and conformal optical windows, owing to its properties, such as abrasion resistance, high operating temperature, and high strength.
• Increasing demand and production of new aircraft in the sector is likely to drive the growth of the market.
• The defense and security industry are growing, owing to the need for security across the world.
• Moreover, countries such as the United States, China, Russia, and India have increased their defense spending, which may accelerate the consumption of transparent ceramics over the forecast period.

Asia-Pacific to Dominate the Market

• In terms of defense spending, the Asia-Pacific region consists of four of the top 10 countries. The spending has been increasing in recent years, owing to the rise in terrorism and an urge to dominate the region.
• In terms of defense spending, China falls behind the United States. Rising security threats are expected to increase the national spending on defense, which may, in turn, directly affect the market, positively, during the forecast period.
• Additionally, the Indian government announced an increase of over INR 3 lakh crore, for the fiscal year 2019-2020, in its interim budget. Additionally, with an aim to boost India's defense production, the country has planned to manufacture 200 helicopters with Russian collaboration, for the intensification and diversification of their strategic ties.
• Therefore, with the increasing demand and government initiative in various sectors in the region, the demand for transparent ceramics will surge during the forecast period.

Competitive Landscape

The transparent ceramics market is fragmented. Some of the key players operating in the market studied include CeramTec, Koninklijke Philips NV, CoorsTek KK, and General Electric, Saint-Gobain Group, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support