Sapphire Substrate Market Revenue to Cross US$ 884.26 million by 2028: Latest Exclusive Research by The Insight Partners

According to our latest market study on "Sapphire Substrate Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Wafer Diameter and Application," the market is expected to grow from US$ 638.83 million in 2022 to US$ 884.26 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2022 to 2028.

In the sapphire substrate market, Sapphire substrates are prepared by sapphire with a unique combination of optical, chemical, and physical properties. It is highly resistive against high temperatures, thermal shocks, water, and sand erosion. The sapphire substrate has a very good thermal conductivity at low temperatures. It is suitable for use in place of glass substrates when the optical transmission is necessary for the ultraviolet range above 200 nm or infrared below 5µm.

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The discovery of allotropes, such as graphene, has led to a considerable rise in research and development activities around the world, wherein scientists emphasize the discovery of new two-dimensional (2D) materials. The quest to discover new materials largely depended on laboratory activities and was primarily met by several challenges, including the development of a scalable volume of high-quality crystalline 2D materials. The increasing adoption of a sapphire substrate in a crystal and the rising demand for LEDs, laser diodes, and other RFIC applications are expected to drive the global sapphire substrate market during the forecast period. Research and development activities are also expected to surge in the market in the coming years due to widening applications of the same. In addition, advancements in modern engineering coupled with technological developments are projected to remain the key driver for sapphire substrate market growth in the future.

Major stakeholders in the sapphire substrate market are component and raw material providers, sapphire substrate manufacturers, system integrators, and end-users. It also includes industry associations and regulatory bodies, which help regulate the adoption of sapphire wafers in various end-use cases. Components include various types of allotropes, such as graphene. Increased wafer demand is creating tensions in the raw material trade of the sapphire substrate market. The alumina-specific density, form factors (pellets, microbeads, or crackles), and high purity required for sapphire crystal growth are offered by a few companies. Raw material prices are increasing, and some sapphire substrate market manufacturers are paying cash in advance to secure raw material capacity.

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Consumer electronics brings huge growth opportunities for the sapphire substrate market. Manufacturers of smartphones and other electronics are interested in using sapphire substrates. With the rising demand for global consumer electronics, the manufacturers are focusing on producing the sapphire substrate, which can be used in consumer electronics. Sapphire substrate market players are also focusing on developing colorless sapphire wafers for LEDs as colored sapphire wafers have negative effects. For instance, in April 2022, Saudi Arabian researchers developed single-crystal graphene by insulating substrates on a wafer scale. The researchers find this development important as the field-effect that transistors produced from a sapphire-grown single-crystal graphene monolayer worked excellently.

The List of Companies - Sapphire Substrate Market
1. Iljin Display Co. Ltd.
2. Kyocera Corporation
3. Meller Optics, Inc.
4. Monocrystal
5. Rubicon Technology Inc.
6. Cryscore Optoelectronic Limited
7. Precision Micro-Optics Inc.
8. Saint Gobain S.A
9. Semiconductor Wafer Inc.
10. Crystalwise Technology Inc.

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