Analysis of COVID-19 Crisis-driven Growth Opportunities in Synthetic Sapphire Market

Synthetic sapphire (Al2O3), also called as Corundum, is a single crystal with superior chemical stability, mechanical property, and light transmission. Synthetic sapphire is one of the toughest of all identified oxide crystals. It is second in hardness after diamond. Additionally, it retains its high strength at high temperatures. Synthetic sapphire crystals have superior electrical and dielectric thermal properties. Synthetic sapphire is used in aggressive environments where reliability, optical transmission, and strength are required, which include UV and IR optics, watch glasses, watch crystals, and gauge, electrical insulators, thin film deposition, and transparent electronic substrates.

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Synthetic Sapphire Market: Developments & Trends

Synthetic sapphire is a major industrial material due to its structural, optical, mechanical, thermal, and chemical properties. Easy availability of synthetic sapphire is driving its use in many industries such as electronics and medical. Demand for synthetic sapphire is increasing in the production of windows. Additionally, synthetic sapphire possesses good electrical insulating properties, as it is being widely used as a substrate for semiconducting circuits.

Consumer electronics industries are projected to create lucrative opportunity for synthetic sapphire manufacturers. Demand for synthetic sapphire is increasing from smartphone and other consumer electronics manufacturing industries. Manufacturers are focusing on developing synthetic sapphire that can be used in consumer electronic products due to the rise in production and demand for consumer electronics worldwide. Moreover, regulatory bodies such as the U.S. Federal Trade Commission have introduced specific guideline regarding sales of synthetic gems.

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Synthetic Sapphire Market: Segmentation

The synthetic sapphire market can be segmented based on application, end-use industry, and region. In terms of application, the synthetic sapphire market can be classified into optics, substrates, display, and others. The optical segment accounted for a large share of the synthetic sapphire market in 2018, as synthetic sapphire is largely used in optical applications due to its excellent optical properties such as high strength, wear resistance, temperature stability, and chemical inertness.

Based on end-use industry, the synthetic sapphire market can be segregated into LEDs, semiconductors, medical devices, consumer electronics, and others. The LEDs segment is projected to constitute a dominant share of the synthetic sapphire market during forecast period due to high consumption of synthetic sapphire as an effective solution for improving product quality and cost management.

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Synthetic Sapphire Market: Regional Outlook

In terms of region, the global synthetic sapphire market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a key region of the global synthetic sapphire market. The region accounted for a dominant share of the global market, followed by Europe and North America. In terms of volume and value, Asia Pacific accounted for a major share of the global synthetic sapphire market due to high sales of products such as LEDs, semiconductors, and medical devices. The synthetic sapphire market in India, China, and Thailand is anticipated to expand at a rapid pace during the forecast period due to the rise in number of new constructions and infrastructure activities in these countries. This is expected to drive the demand for optical windows, which in turn, is anticipated to drive the synthetic sapphire market during the forecast period. In terms of production and consumption, North America is a key region for the global synthetic sapphire market due to the growth in industries such as electronics, medical, and medical devices, especially in the U.S. This is expected to fuel the synthetic sapphire market in the region during the forecast period.

Synthetic Sapphire Market: Key Players

Key players operating in the global synthetic sapphire market include Rubicon Technology Inc., Kyocera Corporation, Saint Gobain, Schott AG, Monocrystal Inc., Crystalwise Technology Inc, Iljin Display Co Ltd, Namoki Group, Juropol sp. z.o.o., and Hansol Technics Co. Ltd.

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