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The Important Growth Strategies Adopted by the Market Players in the Transparent Ceramics Market
The transparent ceramics market has witnessed significant growth in the recent years, owing to the rising defense expenditure on advanced material and technologies. Presently, the transparent ceramics market is dominated by key players, such as Bright Crystals Technology (China), CeramTec ETEC (Germany), CoorsTek (U.S.), Konoshima Chemicals (Japan), Surmet Corporation (U.S.), Schott AG (Germany), Murata Manufacturing Co. Ltd. (Japan).
Substantial investments have been made in the past few years by companies, such as CeraNova Corporation (U.S.), Cilas (France), II-VI Optical Systems (U.S.), Philips Uden (Netherlands), Optocity (U.S.) to address the increasing demand of transparent ceramics from various end-user industries. Key players in the market are focused on research and development for product innovation and mergers & acquisitions to address the increasing demand of the transparent ceramics.
Leading companies in this market have adopted various growth strategies to expand their global presence and increase their market shares. The important growth strategies adopted by the market players in the transparent ceramics market between 2011 and 2015 have been new product launches, expansions, new technology and acquisitions.
The key strategies adopted by the key players in the transparent ceramics market are new product development and acquisition. These strategies accounted for a share of 66.6% of all growth strategies adopted by market players. The key players operational in this market are focusing on investing in both developed as well as emerging markets.
In September 2015, Schott AG developed AF 32 eco for use in the semiconductor and electronics industry, due to its high transparency and strength. Through this launch, the company increased its product offering of ultra-thin ceramics for the electronic industry.
II-VI Optical Systems is another major player in the market. In January 2015, the company acquired VLOC, a world-class laser material manufacturer. This acquisition helped the company in offering custom laser and nonlinear optical solutions for the defense, space, medical, and commercial industries.
In February 2014, CoorsTek established a new plant in Colorado (U.S.) for the production of premium lightweight ceramic proppants that will keep induced hydraulic fractures open for oil and gas to flow. This helped the company to increase the production of these ceramics to meet the increasing demand in the U.S.
Transparent Ceramics Market by Type (Monocrystalline Transparent Ceramics, Polycrystalline Transparent Ceramics, Others), Material (Sapphire, Spinel), End-User Industry (Optics & Optoelectronics, Mechanical/Chemical), and Region - Global Forecasts to 2021
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