by Synthetic sapphire, also known as lab-grown sapphire or cultured sapphire, is an artificially produced sapphire which is identical to natural sapphire in its optical and chemical properties. Synthetic sapphire finds application in various industries such as semiconductor, telecommunication, industrial, defense & security, medical, and automotive. Sapphire substrates are widely utilized in making blue LEDs, laser diodes, optical windows, and scratch-resistant cover glass for watches displays, smartphones, and other electronic devices. The increasing demand for sapphire substrates from the optoelectronics industry has fuelled the growth of the global synthetic sapphire market in the past few years.
The global synthetic sapphire Market is estimated to be valued at US$ 7.12 Bn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rising demand from the optoelectronics industry is one of the major drivers propelling the growth of the synthetic sapphire market. Synthetic sapphire is highly preferred for manufacturing blue LEDs and laser diodes due to its high thermal conductivity and damage resistance. Sapphire substrates provide enhanced structural reliability and emit high-brightness light compared to other alternatives. Another driver is the increasing penetration of synthetic sapphire in the consumer electronics industry. Cover glass made of synthetic sapphire offers unparalleled scratch resistance while also being highly transparent. This has led to a rise in the adoption of sapphire glass for protecting camera lenses and fingerprint sensors in premium smartphones. With surging smartphone sales globally, the demand for sapphire glass is expected to spike in the coming years.
Segment Analysis
The global synthetic sapphire market can be segmented based on product type and application. Products are segmented into substrates and wafers, windows, domes, and other custom shapes. Substrates and wafers dominate the market with over 50% share owing to higher use in manufacturing LEDs, optical devices and inspection systems. Sapphire wafers are extensively used as substrates in the semiconductor industry due to their excellent mechanical strength and chemical inertness properties.
PEST Analysis
Political: Governments across nations are promoting the semiconductor industry by providing subsidies and fiscal incentives. This is positively impacting the demand for synthetic sapphire used in manufacturing semiconductors.
Economic: Growth in disposable incomes coupled with rising electronics demand is driving the global economy. Synthetic sapphire finds widespread use as a cover glass in smartphones, consumer electronics and other optical applications which is propelling market revenues.
Social: Increasing urbanization and digitalization trends are widening the adoption of electronic devices. For every increase in electronics consumption, demand rises proportionately for cover glass materials like synthetic sapphire.
Technological: Advancements in LED technology have increased the energy efficiency of lighting solutions. Sapphire is the ideal substrate material for manufacturing high-powered blue and white LEDs due to its thermal conductivity and durability against heat. Its usage in specialty lighting is gaining traction.
Key Takeaways
The Global Synthetic Sapphire Market Trend is expected to witness high growth during the forecast period of 2023 to 2030. The Asia Pacific region currently dominates the market with a share of over 40% led by countries such as China, Taiwan and South Korea. This can be attributed to presence of leading semiconductor component manufacturers and a robust electronics industry in the region.
Key players operating in the synthetic sapphire market are The Coconut Company (UK) Ltd., Tirumala Food Industries, Enature Organic Products, Ayam Sarl, Nestlé S.A., Renuka Foods PLC, S & P Industries Sdn Bhd, Shriram Coconut Products Limited, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd.
In terms of applications, the demand for sapphire substrate and wafers is maximum accounting for over 50% share. This is because sapphire wafers are widely used as substrates in LED manufacturing as well as fabrication of other optoelectronic and photonic components. Sapphire demonstrates excellent mechanical strength and thermal conductivity properties for withstanding high temperatures.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
