Magneto-Optic Crystals Market – Global Industry Analysis, Market Size Estimation and Growth Forecast By Types (Terbium Gallium Garnet Crystal, Cadmium Manganese Telluride Crystal, Cadmium Manganese Mercury Telluride Crystal & others), By Growth Method (CZ Technique, Bridgman Technique & others), By Application (Non-industrial, Manufacturing, Metal Processing, Semiconductor & electronics) & By Regions (North America, Europe, Asia Pacific, Middle East & Africa, Latin America), 2017 – 2025

Magneto-Optic Crystals Market - Introduction

The global magneto-optic crystals market is expected to grow at a higher rate during the forecast period 2017 to 2025. Magneto-optic crystals market is segmented in terms of types, growth method, application, and geography. Magneto-optical crystals are photonic crystals comprising of magnetic materials. These crystals exhibit different functions including faraday-effect, magnetically controllable photonic band structure and magnetic super-prism effect among others. Terbium gallium garnet (TGG) is an example of magneto-optic crystal offering significant benefits over terbium-doped glass such as greater thermal conductivity, greater verdet constant and low optical losses. Rising demand of magneto-optic crystals in optical isolator of laser system is expected to drive the growth of the market in coming years. Advancement in the field of cryogenic applications of laser systems has acted as a catalyst for product innovation related to magneto-optic crystals.

Report Overview
Aspect Details
Base Year of Estimation 2016
Value Estimation Year 2017
Forecast Period 2017 - 2025
Market Segmentations By types, growth method, application, and geography
Regional Scope North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Latin America
Report Coverage Technology Analysis, Market Dynamics, Market Trends, Segmentation Overview and Competitive Landscape of the market

 

Technology Analysis

Most of magneto-optic crystal structure has cubic orientation and their lattice orientation is garnet in nature. Most of the magneto-optic crystals are grown through Czochralski (CZ) and Bridgman technique. By deploying CZ technique, producers are able to grow crystals of high optical quality with higher size dimension. The entire production process for magneto-optic crystal includes growth, fabrication, and coating. As compared to other growth method, crystals produced through CZ technique offers greater laser damage threshold, uniform optical quality and durability. However, the major disadvantage with CZ technique is that it takes several weeks to produce magneto-optic crystals which affect the competitiveness of producers.

 

Market Dynamics

As of 2016, growth in demand for magneto-optic crystal is dependent on their applications in lasers, polarizers and isolator. Rising demand for terbium gallium garnet crystal in developing Faraday Rotator and Isolator for laser systems has fuelled the revenue as well as volume growth of the market. Growth in applications of magneto-optic crystal in optical component manufacturing, semiconductor & electronics, and metal processing have positively impacted the growth of the market. Apart from the industrial sector, terbium gallium garnet crystal has applications in defense and scientific research sector. Product innovation in terms magneto-optic ceramics is expected to create the future growth opportunity for the magneto-optic crystals market. However, a rise in the cost of coating materials for magneto-optic crystals is identified as a major restraint on the growth of the market.

 

Market Trends

In recent years, applications of terbium gallium garnet crystal and other magneto-optic crystals in laser technology has significantly increased. In optical component manufacturing, application of terbium-doped glass is getting replaced by different magneto optic crystals owing to high thermal conductivity, low optical loss, and durability. In terms of market structure, degree of fragmentation in magneto-optic crystal market has been decreased due to polarization of production facilities in specific countries. Major production bases for terbium gallium garnet crystal and other magneto-optic crystals are located in the U.S, China, and Russia. In order to retain market position and generate a new revenue stream, manufacturers are focusing on product innovation in terms of the size of the crystal, choice of doping material and scope of applications. In coming years, introduction of more non-optical component applications of magneto-optical crystal is expected.

 

Segmentation Overview

The market for magneto optic crystal has been segmented based on types, growth method, application, and geography. By types, the market has been segmented into terbium gallium garnet crystal, cadmium manganese telluride crystal, cadmium manganese mercury telluride crystal and others. As of 2016, terbium gallium garnet (TGG) crystal contributed to largest revenue as well as volume share for the market.

In terms of revenue and volume, magneto-optic crystal produced through Czochralski (CZ) technique had the largest share in 2016.

By growth method, the market has been segmented into Czochralski (CZ) technique, Bridgman technique, and others. In terms of revenue as well as volume, magneto optic crystal produced through Czochralski (CZ) technique had the largest share in 2016 and this trend is expected to continue throughout the forecast period. By applications, the market has been segmented into non-industrial and industrial applications. Industrial applications have been further divided into manufacturing, metal processing, semiconductor & electronics and others.

By geography, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Latin America. In terms of revenue and volume, North America held the largest share of the market owing to the high concentration of manufacturing base, rising demand for magneto-optic crystals in industrial sector and growth of non-industrial applications. In 2016, Asia Pacific held the second largest share of magneto-optic crystals market.

Market Segmentation Overview
By Term Segments
By Types Terbium gallium garnet crystal, cadmium manganese telluride crystal, cadmium manganese mercury telluride crystal and others
By Growth Method Czochralski (CZ) technique, Bridgman technique, and others
By Application Non-industrial and industrial applications such as manufacturing, metal processing, semiconductor & electronics and others
By Geography North America, Europe, Asia-Pacific Middle East & Africa (MEA) and Latin America

 

Competitive Landscape

Leading players operating in the magneto-optic crystals market are Northrop Grumman SYNOPTICS (The U.S.), CASTECH (China), Biotain Crystal Co., Ltd. (China), FEE GMBH (Germany), Oxide Corporation (Japan), Foctek Photonics, Inc. (China). In China, there are multiple local players that develop magneto-optic crystals and these companies held the significant share of Asian market as of 2016. Furthermore, companies such as Northrop Grumman SYNOPTICS and FEE focus heavily on research and developments to expand its product portfolio and open up new applications of magneto-optic crystals. As compared to Asia and North America, the concentration of terbium gallium garnet crystal and other magneto-optic crystals manufacturers is low in countries from Europe.

 

Conclusion

Considering the product innovation, growth in international trade activities related to terbium gallium garnet crystal and other magneto-optic crystals and growth of industrial applications, it has been estimated that the market for magneto-optic crystals is about to accelerate in coming years. Furthermore, replacement of similar crystal materials by different magneto-optic crystals in optical component manufacturing is acting as a long-term push factor for the growth of the magneto-optic market. Due to the conjoint impact of these factors, magneto-optic crystals market is estimated to experience significant growth during the forecast period.

Get Free Samples for Market Research Reports. The privacy and security of your shared information are very important to us. Our website is secure and your personal details are safe.
KEY QUESTIONS ANSWERED BY THE REPORT
What will be the nature of growth of the market till 2025?
What are the major push factors that will affect the growth of the market?
What are the growth possibilities in different segments of the market?
Who are the leading market players?
What are the key strategies implemented by the market leaders to sustain growth in the market?
What are the major restraining factors for the market?
What are the ways to generate new revenue streams?
In-depth analysis of the competitive landscape and competitor behavior in the market

ASK FOR CUSTOMISED REPORTS

In case the report listed above does not meet your requirements, we will customize the report for you. Our custom research will comprehensively cover the insights you require. Please contact us for report customization