According to the latest report by IMARC Group, titled “Sapphire Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global sapphire glass market size is witnessing moderate growth. Sapphire glass is a transparent and durable material made up of aluminum oxide, alumina or alpha alumina, which is conditioned at high temperature and pressure. It is one of the hardest substances, after diamond, and has high durability, brilliance and resistance against abrasions and chemicals. As a result, sapphire substrates are used for manufacturing blue and white LEDs and window materials for products ranging from watches and smartphones to viewports in supercritical environments.
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Global Sapphire Glass Market Trends:
Sapphire glass offers good thermal conductivity, high tensile- and mechanical- strength and enhanced optical transparency to a wide wavelength range. Owing to these characteristics, sapphire glass is suitable for ballistic and defense applications. It is also utilized in the manufacturing of missile domes, bulletproof glass, electro-optic & FLIR windows, transparent armor, infrared windows, countermeasure systems and targeting system components. Other than this, it is employed in laser hair removal systems, endoscope lenses and surgical blades. As these devices are widely used in the medical and healthcare industry, it is having a positive impact on the market growth. Also, the booming electronics industry is witnessing a rise in the utilization of sapphire glass in the manufacturing of LED screens for televisions, mobile phones, laptops and computer sets. Furthermore, market players are focusing on research and development (R&D) for creating polished sapphire substrates to increase LED brightness, narrow wavelength distribution and energy-efficient production process. Looking forward, the market is projected to expand at a CAGR of 6% during 2019-2024.
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Key Market Segmentation:
Market Breakup by Product Type:
1. High Grade Transparency Sapphire Glass
2. General Transparency Sapphire Glass
Based on the product type, the market has been segmented as high grade and general transparency sapphire glass.
Market Breakup by Application:
3. Optical and Mechanical Instruments
4. Safety Establishments
5. Medical Devices
The market has been categorized on the basis of the application into smartphones, watches, optical and mechanical instruments, safety establishments, medical devices, and others.
Market Breakup by Region:
1. Asia Pacific
3. North America
4. Middle East and Africa
5. Latin America
Region-wise, the market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
The competitive landscape of the market is characterized by the presence of numerous key players operative in the industry. Some of the leading sapphire glass market competitors include Kyocera Corporation, Rayotek Scientific Inc., Rubicon Technology Inc., Compagnie de Saint-Gobain S.A., Crystran Ltd., Crystalwise Technology Inc., Monocrystal (Energomera Group), SCHOTT North America Inc., Swiss Jewel Company SA, GT Advanced Technologies Inc., Precision Sapphire Technologies Ltd., Sense-tech Innovation Company (STC), Namiki Precision Jewel Co., Ltd., DK AZTEC Co., Ltd. and Tera Xtal Technology Corporation.
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