According to Technavio’s latest market research study, the global sapphire glass market is expected to grow at a CAGR of close to 9% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global sapphire glass market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application type
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The top three revenue contributing application segments are discussed below:
Global sapphire glass market for LED manufacturing application: During 2016, LED manufacturing was the major application of sapphire glass because LEDs are built on sapphire substrate. The declining cost of the sapphire glass substrate in LED manufacturing resulting from an increase in production capacities is expected to lead to the saturation of the global sapphire glass market for LED manufacturing applications during the forecast period. Industry analysts at Technavio estimate the market to account for a revenue of around USD 3,595 million by 2021.
“In 2014 and 2015, the demand for sapphire glass exceeded its supply. To overcome this, many sapphire glass vendors vertically integrated the manufacturing process to increase the production capacity,” says Ajay Adikhari, a lead analyst at Technavio for research on glass and ceramics.
Global sapphire glass market for consumer electronics application: Sapphire glass is gaining prominence in consumer electronic products, such as smartphones, tablets, cameras, and smartwatches. The material is mainly used as a cover glass for high-end smartphones, lens covers of cameras, and in the displays of smartwatches and premium watches owing to its excellent touch capacity and display clarity. Sapphire glass is also used in the manufacture of luxury Swiss watches such as Rolex, Omega, Seiko, TagHeuer, Citizen, and other Swiss brands. Apart from the Apple Watch, a few other major smartwatch models of Huawei and Garmin also use sapphire glass.
Global sapphire glass market for semiconductors application: Sapphire glass is used as a substrate in semiconductor applications, especially in lenses, sensors, and power devices due to its high performance and cost advantages. In the optical segment, it is used as optical wafers owing to its transparency. It is used as a fingerprint reader in smartphones. For instance, Apple uses sapphire glass cover in fingerprint reader, and Meizu MX4 Pro’s fingerprint reader is covered with sapphire glass. The ongoing shift towards shifting toward silicon on sapphire (SOS) technology from silicon on insulator (SOI) technology is expected to reflect positively on the global sapphire glass market for semiconductor applications during the forecast period.
The top vendors operating in the global sapphire glass market are:
- KYOCERA
- Rayotek
- Rubicon Technology
- Saint-Gobain
Other prominent vendors in the market include Crystran, Crystalwise Technology, Monocrystal, SCHOTT, and Swiss Jewel.
A more detailed analysis is available in the Technavio report titled, ‘Global Sapphire Glass Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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