Demand for Transparent Ceramics Expected to Skyrocket
Multiple high-tech applications are driving the huge demand for transparent ceramics.
A report available from Research and Markets predicts that the global transparent ceramics market will grow with a CAGR of 21.3% from 2018-2024. Rapidly growing optical and optoelectronics applications using transparent ceramics are driving the growth of the market worldwide. Transparent ceramics are reportedly the best suitable substitute for the glass, metal and the plastics, as they offer high strength, resistance, and other key properties.
Growing investment in advanced materials and technologies among the defense, aerospace and other sectors is likely to boost growth in the transparent ceramics market. Ongoing nanotechnology advancements are expected to contribute to market growth as well. However, the high cost of transparent ceramics is hampering the growth of transparent ceramics market.
Major companies are focusing on research and development in the transparent ceramics market, as the demand of advanced and high-performance materials is increasing from the aerospace sector. Rising investments in the transparent ceramic market from the aerospace sector is projected to create several opportunities in this market.
Asia-Pacific is the largest and the fastest-growing region for the transparent ceramics market. The growing uses of transparent ceramics in the military applications such as aircraft, transparent armors, IR windows, laser windows, military aircraft lenses and others are driving market growth in the region. Increasing defense and military expenditures in emerging countries are likely to boost the transparent ceramics market in Asia-Pacific region.
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