Sapphire Substrate Market to hit $884.26 million, Globally, by 2028 at 5.6% CAGR: The Insight Partners

According to the new research report published by The Insight Partners, titled "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 is 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.

The sapphire substrate market is segmented on the basis of wafer diameter, application, and geography. Based on wafer diameter, the market is segmented into 2 inches, 4 inches, 6 inches, and others. By application, the market is segmented into LED, RFIC application, laser diode, silicon on sapphire (SOS) IC, and others. Based on geography, the sapphire substrate market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

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The sapphire substrate market was dominated by APAC, followed by North America, Europe, Middle East & Africa, and South & Central America. The "Big Four" semiconductor areas-South Korea, Japan, China, and Taiwan-have played a key role in the semiconductor industry's upstream, midstream, and downstream growth, even globally. To compete and flourish in such a highly competitive environment, Asia Pacific nations will accelerate the speed of R&D and innovation in the semiconductor business as demand for semiconductors grows and diversity standards rise. As a result, Asia Pacific will become the global semiconductor industry's backbone. For instance, in August 2020, Monocrystal-a key player in synthetic sapphire growing and processing-started a project aiming to manufacture extra-large diameter sapphire wafers for disruptive light-emitting diode (LED) applications. The Intergovernmental Russian Chinese Commission has approved it on Investment Cooperation. These factors will promote tremendous growth in the region and make Asia Pacific a major region for the sapphire substrate market size during the forecast period.

The List of Companies - Sapphire Substrate Market

Saint-Gobain Group; KYOCERA Corporation; Semiconductor Wafer, Inc.; Precision Micro-Optics, Inc.; and Crystalwise Technology, Inc. are a few key sapphire substrate market players. In addition, several other important sapphire substrate market players were studied and analyzed during the course of this study to get a holistic view of the sapphire substrate market growth and its ecosystem.

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In 2022, Meller Optics, Inc. introduced a complete range of small high-precision sapphire and ruby balls to use in instruments, metering equipment, and other precision mechanisms requiring low friction bearings, extended life, and dimensional accuracy.

In 2021, Meller Optics, Inc. released custom-made sapphire windows and domes suitable for shielding cameras, detectors, and sensors on military and commercial drones built for usage in severe environments.

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Contact Person: Sameer Joshi

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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