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Global Market Study on Synthetic Sapphire:
Sapphire Substrates Application Segment
Estimated to Account for More than 30% Market
Value Share by 2016 End
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Report Media Releases
Global Synthetic Sapphire Market Revenue Expected to
Register a CAGR of 8.4% Between 2016 and 2024; Asia
Pacific Anticipated to Witness Highest Growth Between 2016
and 2024
According to the latest market report published by Persistence Market Research titled ‘Synthetic
Sapphire Market: Global Industry Analysis and Forecast 2016–2024’, the revenue generated
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from global sales of synthetic sapphire has been estimated to be valued at US$ 4,864.3 Mn by
2016 end and is expected to increase at a CAGR of 8.4% during the forecast period of 2016–
2024. By 2024, the global synthetic sapphire market is projected to be valued at US$ 9,255.7
Mn.
Synthetic Sapphire is aluminum oxide and is also known as Corundum or α- alumina. It is
chemically inert, hard, thermally stable till 1600 ο C and has a melting temperature of 2050 ο C.
Manufactured from high purity alumina (>99.99% purity) by one of the five methods namely
Verneuil, Czochralski (CZ), Heat Exchanger Method (HEM), Edge-Defined Film-Fed Growth
(EFG) and Kyropoulos, where EFG and Kyropoulos methods are most popular and are mostly
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modified in-house to increase the yield. Synthetic sapphire on hardness scale (Mohs) stands on
9 which is the next hardest material after diamond and possesses excellent physical and
chemical properties. The wear and scratch resistance of synthetic sapphire is considered to be
unique. The sapphire crystal boule undergoes series of processing steps such as drilling, slicing,
grinding, polishing and cleaning to get the final synthetic sapphire in required form.
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Demand of sapphire products is expected to grow beyond LED as its primary application since
sapphire growers are researching new applications which are under developing phase. This is
because sapphire being an anisotropic material, which makes its mechanical and thermal
properties to depend on the direction of crystal growth and its subsequent processing. Thus, the
exceptional mix of properties makes sapphire an ideal material for LED manufacturing and as a
semiconductor. Also, when compared to other optical materials, sapphire has superior level of
radiation stability and thus a demand from various industrial sectors is strong. Attributes such as
government policies and regulations for preferring LED lighting over incandescent and CFL, and
Global Synthetic Sapphire Market 2016-2024
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a high demand from semiconductor industries are the factors responsible for growing demand of
synthetic sapphires globally.
Display application segment is anticipated to register the fastest growth due to growing market
for smart watches, premium watches, smart phone covers, and camera lenses. The sapphire
substrates in LED is a matured market, wherein substrates of 6’’ and more diameter are at a
growth phase. Moreover, favourable taxation policies of governments across the world are also
anticipated to support the growth of overall synthetic sapphire demand during the forecast
period. The display segment is slated to register a CAGR of around 10.5% in terms of value over
the forecast period.
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Asia Pacific accounted for the largest value share of the global synthetic sapphire market in
2016, and is anticipated to increase at a CAGR of 8.6% over the forecast period in value terms.
Sales of synthetic sapphires in China is projected to increase by 1.8X between 2016 and 2024.
In terms of value and volume, Asia Pacific is anticipated to register highest growth followed by
Europe over the forecast period.
Rubicon Technology Inc., KYOCERA Corporation, Saint-Gobain, SCHOTT AG, Monocrystal,
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Rayotek Scientific Inc., CRYSTALWISE TECHNOLOGY INC., ILJIN Display CO., Ltd, Namiki
Precision Jewel Co., Ltd. and Juropol Sp. z o.o. are some of the leading players in the global
synthetic sapphire market.
Synthetic sapphire manufacturers and fabricators are working closely in fulfilling the end use
demand, especially sapphire for LED substrates is a key growth area. The processing plants are
mostly setup in Asia Pacific region with players in the market continuously improving the
sapphire growth methods in order to improve the sapphire yield.
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Global Synthetic Sapphire Market 2016-2024
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Global Synthetic Sapphire Market 2016-2024