- Growing demand for electrical and electronics is set to propel growth in the global transparent ceramics market over the forecast period
- Asia Pacific (APAC) is anticipated to account for a sizeable share of the market while North America is expected to grow at a stellar pace, offering novel growth opportunities
ALBANY, N.Y., Sept. 17, 2020 /PRNewswire/ -- The global transparent ceramics market is set to grow at a CAGR of about 22% from 2019 to 2027, improving upon the market valuation by a substantial worth. It is worth noting here that from about USD 275 million in 2018, market would grow up to about USD 1.6 billion by 2027.
As per Transparency Market Research, "Multiple drivers and trends are responsible for keeping the market buoyant over the forecast period. Some of these include increasing demand for electrical and electronics, and healthcare products. New growth opportunities will also mark the market landscape over the stated period."
Competitive Landscape of Global Transparent Ceramics Market:
The global transparent ceramics market is marked by presence of several prominent players. Some of the renowned names, profiled comprehensively by Transparency Market Research, are 3M, CeramTec, II-VI Optical Systems, Kyocera Corporation, Saint-Gobain Ceramic Materials, SCHOTT AG, Murata Manufacturing Co., Ltd, Surmet Corporation, Rauschert GmbH, McDanel Advanced Ceramic Technologie, CoorsTek Inc., and CeraNova.
Growth strategies such as mergers, collaborations, and expansions are being noted in the fragmented vendor landscape of the market. Additionally, it is worth noting here that proactive players in the market are directing efforts towards new-age transparent ceramics for laser and optical applications. Emerging technologies such as Transparent Amor are being incorporated to gain an edge over competitors.
Wollastonite Powder Market - The global wollastonite powder market was valued at US$ 361 Mn in 2019 and is anticipated to expand at a CAGR of ~8% during the forecast period, according to a new report published by Transparency Market Research (TMR). The global wollastonite powder market is driven by rise in demand for wollastonite powder in the building & construction industry, as wollastonite powder is popularly used in floor and wall tiles. In terms of volume, the wollastonite powder market in Asia Pacific is expected to expand at a CAGR of ~8% during the forecast period. The implementation of wollastonite powder as a replacement for asbestos is likely to propel the market in the region during the forecast period.
Nanosilica Market - The global nanosilica market is primarily driven by increasing use of nanosilica in paints and coatings and construction applications. The demand for nanocoatings in aviation, automobile, and medical applications is estimated to increase in the near future. This, in turn, is projected to fuel the demand for nanosilica during the forecast period. The application of nanomaterials in concrete helps enhance the properties of concrete. Nanosilica, owing to its small particle size, can positively affect properties of concrete by changing its microstructure.
Ceramic Tiles Market – Major raw materials employed during the processing of ceramic tiles include feldspar, kaolin, bentonite, and silica sand. After the economic crisis of 2008, prices of these raw materials have been increasing across the world. High consumption of these raw materials in other Application applications (especially glass, thermal and electric insulation, paints, refractories, and food packaging) has led to sharp increase in their prices after 2010. This is anticipated to affect the ceramic tiles market during the forecast period. The recent shift toward consumption of these raw materials in other industries (such as feldspar in the production of fiberglass) has led to shortage of raw material supply in the ceramic tiles market to a certain extent.
Advanced Materials Market - The fuel economy of cars is up 6-8 percent with the reduction of one-tenth of weight, according to Scientific American, an American science magazine. In light of this, the auto industry focuses more and more on developing vehicles that are both lightweight and energy-efficient. For example, Nissan automakers have decreased the mass of their cars such as Altima, Frontier and Juke to improve their fuel efficiency. Demand for lightweight vehicles is a key trend expected to influence the world's advanced materials market in the next several years.
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