Platter Substrate Materials Market to Garner $687.3 Thousand, Globally, By 2030 at 7.8% CAGR, Says Allied Market Research

Allied Market Research published a report, titled, "Platter Substrate Materials Market by Type (Aluminum Disk and Glass Disk) and Application (Electronics, Aerospace, National Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global platter substrate materials industry was estimated at $327.0 thousand in 2020, and is anticipated to hit $687.3 thousand by 2030, registering a CAGR of 7.8% from 2021 to 2030.

Drivers, restraints, and opportunities-
Developments in the consumer electronic industry and rise in demand for platter substrate materials due of its properties drive the growth of the global platter substrate materials market. On the other hand, the issue of material differentiation restrains the growth to some extent. However, growing investment in high-end technology from major hard disk drive players is anticipated to create lucrative opportunities in the industry.

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COVID-19 scenario-
Shutdown of manufacturing units in the majority of countries gave way to steep decline in production of hard disk drives, especially during the initial phase. Accordingly, the demand for platter substrates also experienced an abrupt fall, thereby impacting the global platter substrate materials negatively.
However, as the global situation gets better, the market is anticipated get back on trail soon.
The glass disk segment to dominate by 2030-

Based on type, the glass disk segment dominated with the largest share in 2020, holding around three-fifths of the global platter substrate materials market. The same segment is also expected to cite the fastest CAGR of 8.3% throughout the forecast period, due to rise in production of laptops in the majority of countries.

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The electronics segment to maintain the dominant share-
Based on application, the electronics segment held the highest market share in terms of revenue, accounting for nearly three-fifths of the global platter substrate materials market. The same segment is also estimated to cite the fastest CAGR of 8.2% during the forecast period. This is attributed to growing demand for consumer electronics products such as laptop and hard disk drive recorders across the globe.

Asia-Pacific, followed by North America, garnered the major share in 2020-
Based on region, the market across Asia-Pacific, followed by North America, dominated the market with the major share in 2020, accounting for around two-fifths of the global platter substrate materials market. The same region is also expected to witness the fastest CAGR of 8.3% from 2021 to 2030. This is due to growing production of hard disk drives in countries such as China, Japan, and Thailand.

Key players in the industry-
ASE Technology Holding Co., Ltd.
SCHOTT AG
IBIDEN Co. Ltd.
Seagate Technology Holdings plc.
Denka Company Limited
Hoya Corporation
ALPS Electric Co., Ltd.
Showa Denko K.K.
FUJIFILM Holdings Corporation

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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