The Optical Ceramics Market is projected to grow from USD 148 million in 2018 to USD 297 million by 2023, at a CAGR of 15%, between 2018 and 2023.

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Sapphire is expected to be the largest and fastest-growing segment of the market, by material, during the forecast period.

On the basis of material, the optical ceramics market has been categorized into sapphire, aluminum oxynitride, spinel, yttrium aluminum garnet (YAg), and others. Sapphire is projected to be the fastest-growing segment of the optical ceramics market during the forecast period, whereas yttrium aluminum garnet (YAG) is the second-fastest growing by material segment. Yttrium aluminum garnet is witnessing increasing demand in emerging applications including gas turbine engines, high intensity lamps, cathode ray tube, and manufacturing of lasers, which is expected to drive its growth in the optical ceramics market.

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 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.

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North America is projected to be the largest market during the forecast period.

On the basis of region, the optical ceramics market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. The growth of the optics & optoelectronics industry in the emerging economies is driving the market. APAC is projected to register the highest CAGR during the forecast period. This is attributed to the high economic growth rate, growing manufacturing sector, low-cost labor, and the global shift of the consumption and production capacities from the developed markets to the emerging markets in APAC.

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