Glass Wafers Market Size, Share, Growth, and Industry Growth by Material (2 inch, 3 inch, 4 inch, 5 inch, 6 inch, 8 inch, 12 inch, and Others) By Application (Astronomy, Consumer Optics, Industrial Equipment, Lithography, Medical & Biotech, Energy, and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Glass Wafers Market REPORT OVERVIEW

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The global glass wafers market size was USD 1215.2 million in 2022 and market is projected to touch USD 6038.9 million by 2031, exhibiting a compound annual growth rate (CAGR) of 19.5% during the forecast period.

Glass wafer is a very thin disc which is used as a base for silicon-based photovoltaic cells and fabricating electronic integrated circuits (ICs). It is a thin piece of semiconductor material.

Glass wafers market is significantly increasing due to extensive usage of the product in industrial and technical applications. The product is made up of fused silica, quartz, and borosilicate glass which provides a higher chemical stability against any type of chemical or water. Growing need for automotive electronics because hybrid and electric vehicles are estimated to surge market growth. Increased demand for the product in IT, medical services, electronics, biotechnology, aviation, automotive, and broadcast communication. Such extensive demand for the product among end-user is predicted to fuel market growth. High demand for smaller and compact hardware coupled with growth in electronic sector is anticipated to accelerate market growth in the forthcoming years. On the contrary, high manufacturing cost of the product is anticipated to hamper market growth.

COVID-19 Impact: Increased Number of COVID-19 Cases Affected Manufacturing Activities

The COVID-19 outbreak affected economies and industries in numerous countries due to lockdown restrictions, business shutdown, and travel bans. Lockdown in various factories and plants disrupted manufacturing activities. These factors impacted glass wafers market growth.

However, increased demand for portable medical equipment during the pandemic period expanded market growth. rise in usage of the product in healthcare sector and high demand from health workers surge market growth. Further, increased demand for micro electromechanical systems helps to recover market steadily.

LATEST TRENDS

"Increased Demand for Micro-Electro-Mechanical Systems (MEMS) to Foster Market Growth"

Rise in demand for micro-electro-mechanical systems (MEMS) globally for its application in automotive sensors, communication system, and portable medical devices is estimated to surge market growth. MEMs is typically designed for suitable used in all electronic devices coupled with high demand for MEMs is anticipated to foster market progress. The product has several benefits such as reliability, superior functionality, and capacity to withstand harsh environment. Also, it is used as carrier substrates for its thermal stability and chemical resistance. Such features of the product are anticipated to accelerate glass wafers market performance in the coming years.

Glass Wafers Market SEGMENTATION

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• By Type

Based on type, the market is divided into 2 inch, 3 inch, 4 inch, 5 inch, 6 inch, 8 inch, 12 inch, and others.

5 inch is expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into astronomy, consumer optics, industrial equipment, lithography, medical & biotech, energy, and others.

Medical & biotech is expected to be the leading part of application segmentation.

DRIVING FACTORS

"High Need for the Product by Health Workers and Rapid Development in Healthcare Sector to Incite Market Growth "

Increased need for the product by health worker to monitor patients and rapid development in healthcare sector is anticipated to accelerate market growth. High demand for portable medical equipment and increased demand for biotechnology is anticipated to fuel market growth. The product is used in medical devices for its superior resistance to high levels of energy and heat. Also, it is used for radiation exposure in x-ray equipment. These factors are estimated to drive market growth in the forthcoming years. Increased R&D activities by prominent market players coupled with it used in the production of microfluidic chips and growth in biotechnology applications is predicted to drive market progress in the forthcoming years. Increased industrial activities and rapid adoption of advanced technology is projected to incite glass wafers market progress.

"Growing Need for Automotive Electronics to Surge Market Growth"

Increase in demand for automotive electronics because of hybrid and electric vehicles globally is estimated to drive market growth. The product is used as transporter substrate coupled with high production of semiconductor wafers is anticipated to surge market growth. Growth in electronic sectors and high demand for electronic product such as smartphones, wearable gadgets, and tablets are predicted to increase market growth. The product is made up of fused silica, quartz, and borosilicate glass which provides a higher chemical stability against any type of chemical or water. Such advantages of the product are forecast to drive market growth. The product is used as a carrier substrate in semiconductor wafers and it allows semiconductor wafers to handle safely. It also, helps in rescuing the product and reduce environmental impact. These factors are projected to drive glass wafers market growth in the upcoming years.

RESTRAINING FACTORS

"Increased Manufacturing Cost of Product to Hamper Market Growth   "

High manufacturing cost of the product is anticipated to hamper market growth.

Glass Wafers Market REGIONAL INSIGHTS

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"Rapid Growth in Electronic and Automotive Sectors in Asia Pacific to Drive Market Share "

Asia Pacific is estimated to contributed largest glass wafers market share owing to rapid growth in the electronic and automotive sectors. Further, Asia Pacific is one of the largest manufacturer of electrical and electronics products is predicted to surge market growth. Growing need for automotive electronics because hybrid and electric vehicles are estimated to surge market growth. Increased demand for the product in IT, medical services, electronics, biotechnology, aviation, automotive, and broadcast communication. Such extensive demand for the product among end-user is predicted to fuel market growth. High demand for smaller and compact hardware coupled with growth in electronic sector is anticipated to accelerate market growth in the forthcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• SCHOTT (Germany)
• Nippon Electric Glass (Japan)
• Asahi Glass Co. (Japan)
• Corning (U.S.)
• Tecnisco (Singapore)
• Plan Optik AG (Germany)
• Bullen (U.S.)
• Swift Glass (U.S.)
• Coresix Precision Glass (U.S.)
• Edmund Optics (U.S.)
• Hoya Corporation (Japan)
• Sydor Optics (U.S.)
• Prazisions Glas & Optik (Germany)
• Valley Design (U.S.)
• Zhejiang Lante Optics (China)
• Nikon (Japan)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.