Los Angeles, United States -- (SBWIRE) -- 10/18/2022 -- QY Research recently published a research report titled, "Global YAG Transparent Ceramics Market Insights, Forecast to 2028". The research report attempts to give a holistic overview of the YAG Transparent Ceramic market by keeping the information simple, relevant, accurate, and to the point. The researchers have explained each aspect of the market thorough meticulous research and undivided attention to every topic. They have also provided data in statistical data to help readers understand the whole market. The YAG Transparent Ceramic Market report further provides historic and forecast data generated through primary and secondary research of the region and their respective manufacturers.
Due to the COVID-19 pandemic, the global YAG Transparent Ceramics market size is estimated to be worth US$ 58 million in 2022 and is forecast to a readjusted size of US$ 175 million by 2028 with a CAGR of 20.1% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Rare Earth Doping accounting for % of the YAG Transparent Ceramics global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Transparent Armor segment is altered to an % CAGR throughout this forecast period.
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Global key players of YAG transparent ceramics include CoorsTek Corporation, II-VI Incorporated, Konoshima Chemicals, etc. Global top three manufacturers hold a share over 90%. North America is the largest producer of YAG transparent ceramics, holds a share over 55%, followed by Asia-Pacific and Europe.In terms of product, rare earth doping is the largest segment, with a share about 70%. And in terms of application, the largest application is lasers application, with a share over 55%, followed by domes and windows.
The consumer electronics industry has been growing significantly since the last few years. Consumer electronics is a vital market for transparent ceramics. Demand for electrical and electronics equipment is expected to increase at a significant pace in the near future, due to the rise in demand for smartphones, laptops, tablets, and portable electrical appliances. Use of transparent ceramics has been increasing in the electronics industry, owing to their exceptional transparency properties that allow them to be employed in light emitting diodes (LEDS), indicators, lamps, bulbs, reflectors, light guides, LCDs, OLEDs, plasma and similar displays, and opto-isolators. Demand for transparent ceramics in the consumer electronics industry is anticipated to rise steadily during the forecast period.
Key Players Mentioned in the Global YAG Transparent Ceramic Market Research Report:
3M Company
Schott AG
Surmet Corporation
CeramTec
II-IV Optical Systems
Kyocera Corporation
Saint-Gobain Ceramic Materials
Murata Manufacturing Co., Ltd
Rauschert GmbH
McDanel Advanced Ceramic Technologies
CoorsTek Inc.
CeraNova
Global YAG Transparent Ceramic Market Segmentation by Product:
Rare Earth Doping
Undoping
Global YAG Transparent Ceramic Market Segmentation by Application:
Transparent Armor
Domes and Windows
Lasers Application
Others
The global transparent ceramics market is highly consolidated, with a small number of large-scale vendors controlling majority of the share. Most companies are investing significantly in comprehensive research and development activities, primarily to create innovative products. Expansion of product portfolios and mergers and acquisitions are the key strategies adopted by prominent players. The 3M Company, Schott AG, Surmet Corporation, CeramTec, II-IV Optical Systems are the key entities operating in the market.
In terms of value, Asia Pacific dominated the global transparent ceramics market with 42.2% share in 2021. The region is expected to remain highly lucrative during the forecast period, due to rapid industrialization and growth in electronics and aerospace industries. China is a key country of the transparent ceramics market in Asia Pacific, owing to the growth of industries such as electronics and energy. China is a major hub for electronics products that employs transparent ceramics due to the latter's superior properties over metals and alloys.
Key questions answered in the report:
(1) What is the growth potential of the YAG Transparent Ceramic market?
(2) Which product segment will grab a lion's share?
(3) Which regional market will emerge as a frontrunner in coming years?
(4) Which application segment will grow at a robust rate?
(5) What are the growth opportunities that may emerge in YAG Transparent Ceramic industry in the years to come?
(6) What are the key challenges that the global YAG Transparent Ceramic market may face in future?
(7) Which are the leading companies in the global YAG Transparent Ceramic market?
(8) Which are the key trends positively impacting the market growth?
(9) Which are the growth strategies considered by the players to sustain hold in the global YAG Transparent Ceramic market?
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