SYNTHETIC SAPPHIRE MARKET ANALYSIS

Synthetic Sapphire MarketSize and Trends

Global synthetic sapphire market was valued at US$ 6.1 Billion in 2021 in terms of revenue, exhibiting a CAGR of 8% during the forecast period (2022 to 2030).

Growing demand from the semiconductor industry for synthetic sapphire is expected to foster the market growth of synthetic sapphire. According to the Coherent Market Insights, sapphire substrate accounts for approximately 95% of substrate material used for manufacturing LED. Sapphire is widely used in the production of chips and Fab materials. Moreover, the high demand for pattern sapphire substrate (larger diameter- 4’’’, 6’’’, 8’’’) is another major factor projected to augment growth of the global synthetic sapphire market.

Among region, Asia Pacific dominated the global synthetic sapphire market in 2021, reporting 50.3% market share in terms of revenue, followed by Europe and North America, respectively

Figure 1. Global Synthetic Sapphire Market Value Share (%), By Region, 2021

Market Trends

On the basis of application, in 2021, optical segment accounted for the largest market share of 32.6% in terms of value, followed by sapphire substrates and display respectively.

Figure 2. Global Synthetic Sapphire Market Value Share (%), By Application, 2021