New York, July 15, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Sapphire Substrate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Wafer Diameter (2 Inches, 4 Inches, 6 Inches, and Others) and Application [LED, RFIC Application, Laser Diode, and Silicon on Sapphire (SOS) IC, and Others]” The global sapphire substrate market growth is driven by rising uptake of silicon-on-sapphire microelectronic circuits and increasing demand for sapphire substrate in led applications.
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| Market Size Value in | US$ 638.83 million in 2022 |
| Market Size Value by | US$ 884.26 million by 2028 |
| Growth rate | CAGR of 5.6% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 150 |
| No. Tables | 56 |
| No. of Charts & Figures | 75 |
| Historical data available | Yes |
| Segments covered | Wafer Diameter and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
The increasing demand for silicon-on-sapphire circuits can be attributed to its various benefits, such as high speed, low power consumption, and radiation resistance. Additionally, silicon-on-sapphire microelectronics circuits are broadly utilized in developing high-frequency and high-speed radio communication, smartphones, desktop computers, small satellite, laptops, and aerospace industry applications. These factors and rising usage among various industries positively impact the sapphire substrate market.
The growing demand for LEDs in various applications, including display and lighting solutions, fuels the need for sapphire substrates. Due to the growth in the usage of LED sapphire substrate, the upstream manufacturing process and the equipment level will be improved in the future. However, technical issues and overcoming processes will increase costs. Also, large crystals can develop scale effects and align with the existing semiconductor production process, reducing the overall cost. The development of large LEDs will expand the sapphire application range and reduce the production cost.
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Sapphire Substrate Market: Competitive Landscape and Key Developments
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 global market size and its ecosystem.
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 2020, Monocrystal, a global leader in synthetic sapphire growing and processing, announced that its project will manufacture extra-large diameter sapphire wafers for disruptive light-emitting diode (LED) applications. The company stated that the project is one of six Russian projects worth US$ 20 billion approved by the Intergovernmental Russian Chinese Commission on Investment Cooperation.
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In recent times, the rich quality colorless sapphire demand has increased by LED manufacturers to manage cost and improve product quality. Thus, adopting colorless sapphire substrate is expected to bring new growth opportunities for the sapphire substrate market during the forecast period. Further, the rising mining activities of large crystals in various countries are expected to increase the production of sapphire, which will integrate with existing semiconductor manufacturing processes, resulting in the overall cost reduction for sapphire substrate. As the industry will keep on shifting towards mining of sapphire substrate at a larger scale, the production cost will reduce and expand the range of sapphire applications having lesser impact of gemstones and its parameters on overall sapphire substrate market size.
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Sapphire Substrate Market: COVID-19 Pandemic Impact
The COVID-19 pandemic has significantly negatively impacted Europe, indicating that the region’s semiconductor and electronics budget may take a sizeable hit while Europe’s economies recover from the outbreak. Since the COVID-19 outbreak severely impacted overall budgets, many European countries reduced their electronics and semiconductor expenditure. The positive impact on the procurement programs and research & development (R&D) activities is anticipated to significantly affect the sapphire substrate market in Europe in the coming years. The consumer electronics sector in the European Union is anticipated to see the sharpest drop in demand and a wider performance gap over time due to the shifting demand patterns, business shutdowns, unemployment, and unprecedented drops in gross domestic product (GDP) across many countries. The regional automotive & transportation sector is anticipated to grow as the governments will offer incentives to car buyers in the coming years.
The consumer electronics sector in the European Union is anticipated to see the sharpest drop in demand and a wider performance gap over time due to the shifting demand patterns, business shutdowns, unemployment, and unprecedented drops in gross domestic product (GDP) across many countries. Enterprises are delaying investments in PCs to control expenditures which is hampering the sapphire substrate market growth.
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Sapphire Substrate Market: Application Overview
Based on application, the sapphire substrate market size is segmented into light-emitting diode (LED), radio frequency integrated circuit (RFIC) application, laser diode, and silicon on sapphire (SOS) IC and Others. Sapphire substrates are used in the production of silicon-on-wafers to produce high-performance radio frequency integrated circuit (RFIC) applications. The use of sapphire substrates is high in LED as it has good electrical insulation and high-temperature resistance. The LED segment led the market in 2021.
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