SAPPHIRE COMPOUND SUBSTRATE MARKET ANALYSIS

Sapphire Compound Substrate MarketSize and Trends

Increasing demand for sapphire compound substrate in LED and mobile device application is expected to fuel growth of the sapphire compound substrate market. According to Coherent Market Insights’ analysis, the global LED lighting market is projected to reach over US$ 120 billion by 2025, exhibiting a CAGR of 16.61% over the forecast period.

Market Trends

Among application, the LED sapphire substrate segment is expected to witness significant growth in the global sapphire compound substrate market and is expected to retain dominant position over the forecast period. Key market players are focused on expanding their LED sapphire substrate capacities, owing to increasing demand for LED tubes and bulbs. For instance, in August 2017, Lanjing Technology, a China-based LED chip supplier, signed an agreement with People’s Government of Hongta District, to ramp up the capacity for LED sapphire substrate manufacturing.

Furthermore, according to the Internet World Stats, in China, number of internet users in 2015 was 705.9 million and it increased to 721.4 million in 2016.