May 11, 2017
Wellesley, Mass., May 11, 2017 – New proprietary research by BCC Research reveals that rising demand for solid-state lighting, solar cells, and other devices requiring advanced optical properties are driving huge growth in the global market for transparent ceramics.
BCC Research's Transparent Ceramics anticipates the global market to reach $227.million and $548.7 million in 2017 and 2022, respectively, demonstrating a 19.3% CAGR.
"Transparent ceramics are gaining increasing interest compared to other more traditional transparent 0pmaterials such as glass and polymers because they are characterized by unique properties such as high hardness and strength, stability when exposed to chemicals and radiation, and resistance to high temperatures," says Kevin Fitzgerald, BCC Research editorial director.
Variety of Factors Driving Big Demand
Demand for transparent ceramics is expected to grow rapidly due to drivers such as increased penetration in different sectors, the healthy growth of certain industry segments such as light-emitting diode lighting and solar cells, and the availability of advanced raw materials and improved processing methods.
"Transparent ceramics for optical and optoelectronic applications represent the largest share of the market with an estimated 89.9% of the total in 2017, corresponding to $204.4 million in sales," Fitzgerald notes. "Within this segment, transparent ceramics are primarily used for fabrication of lighting devices, lasers, and optical components. By 2022, BCC Research expects this segment to reach $510.7 million, easily doubling its 2017 market value."
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Transparent Ceramics: Technologies and Global Markets( AVM115B )
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