Transparent Ceramics Market to Reach USD 1.08 Billion by 2024
June 29, 2016
The market of global transparent ceramics is likely to reach USD 1.08 billion by 2024, according to industry reports. The growth in the demand for the product in various industries including electronics, aviation and healthcare as a substitute for existing glass technologies in numerous functions such as armors, optical fibers, domes & lasers are expected to drive demand of the product. The growth in these end use industries is predicted to boost the industry growth further over the next eight years.
The value of transparent ceramics at the global front was USD 178.5 million in 2015 and is likely to witness growth over the forecast period because of the growing manufacturing facilities in emerging markets of Asia Pacific such as India and China coupled with the rising expenditure on defense on improved & enhanced technology. Also, the surge in the demand from the end user industries like chemical & mechanical industries, instrumentation & sensor and optics would lead to the expansion of the sector.