The global market for transparent ceramics increased from $165.8 million in 2015 to $194.1 million in 2016 and is estimated to reach $227.3 million by the end of 2017, corresponding to a robust compound annual growth rate (CAGR) of 17.1% during the two-year period.

Transparent ceramics find applications in various industry sectors, including aerospace and defense, consumer products, energy, healthcare, mechanical/chemical, optics and optoelectronics, and sensors and instrumentation. However, three of these sectors are major contributors to market demand: optics and optoelectronics, aerospace and defense, and sensors and instrumentation (Table 1).