Sapphire Market Size, Share, Growth, and Industry Analysis, By Type (High Grade Transparency Sapphire, General Transparency Sapphire), By Application (LED, Optical Window, Others), Regional Insights, and Forecast To 2032

Updated On: 08 July 2024

Sapphire Market Report Overview

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The global sapphire market size was USD 739 million in 2023 and market size is projected to touch USD 1642.88 million by 2032, exhibiting at a CAGR of 9.80% during the forecast period.

Sapphire glass is kind of sapphire materials which is not only with hardest, most durable and scratch-resistant advantages but also offers a broad transmission range from UV to mid-infrared wavelengths. These products are mainly used for consumer electronics, military products and other fields. Sapphire glass offers good thermal conductivity, high tensile strength, and enhanced optical transparency to a wide range of wavelengths. Sapphire glass has applications in various end-use industries such as ballistic and defence applications. Sapphire is chemically resistant and has a high melting point. There are numerous benefits of using sapphire such as hardness, optically transparency, strongest and chemically inertness. Innovations in the semiconductor industry will pave the way for better sapphire technologies. Sapphire glass is stronger than a normal glass and alike to the hardness of a diamond.  Due to the scratch resistance property of sapphire glass, several high-end smartphone manufacturers are progressively using sapphire glass in camera cover lenses, touch sensors of smartphones, and in making scratchproof watches. Technological advancement in sapphire production and processing techniques are expected to enhance the sapphire market growth. Continuous developments in business techniques, such as the arrival of advanced crystal growth procedures and precision machining, are providing a enhancement to the market. Sapphire glass is highly hard-wearing in nature. It has high sturdiness, intelligence, and resistance against abrasions and chemicals. High quality, long life, and reduced energy consumption are some of the key benefits.  It is also used in the production of watches, invulnerable glass, windows of shatterproof vehicles, and blinds or screens in armed body shield suits. The flourishing electronics industry is further observing an enlarged utilisation of sapphire glass for the manufacturing of LED screens in numerous devices such as televisions, mobile phones, laptops, and computer sets. The product is being extensively adopted in unpredictable industrial environments that experience severe conditions, which is encouraging the industry players to manufacture more multipurpose products, such as sapphire glass windows. The growth of visual sapphire windows for aerospace radar systems is due to their capability to maintain truthfulness in demanding physical environments, will compel business growth from this division.

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COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in the sector

The global COVID-19 pandemic has been unprecedented and staggering, with sapphire market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 pandemic has tremendously affected the whole world. The pandemic has led to significant changes in consumer behaviour, with more individuals spending online and selecting health and safety. Pandemic had negative impact on the industry, consumer demand has also consequently reduced as individuals are now more intense on eradicating non-essential expenses from their respective budgets as the general economic status of most individuals have been severely affected by this outbreak.

Latest Trends

"Technological advancement to boost the market growth "

High execution of advanced technology and the survival of large players in county are likely to create generous growth opportunities for the market. Technological innovation and advancement will further enhance the performance of the product. Developments in technology have led to the expansion of new and better-quality materials contributing to the sapphire market growth. Team up with other firms can lead to the enlargement of new products, services, technologies that can help to motivate growth and income. Some players focus on product improvement to meet consumer requirements and likings. 

Sapphire Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into high grade transparency sapphire, general transparency sapphire

High grade transparency sapphire the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into LED, optical window, others

Sapphire market players cover segment as optical window will dominate the market share during forecast period.

Driving Factors

"Rise in demand of smartphone to upsurge the market growth"

Sapphire glasses in smartphone is likely to motivate market growth over the estimate period. Increasing demand of tablets in industrial uses is anticipated to motivate the market. Introduction of new technologies and products along with improved durability of the product will increase the demand of the product in the smartphones and tablets sector. Design improvement in the smartphone manufacturing will be the dedicated area along with growing sales of smartphones.

"Rise in disposable income to boost the market."

Rising disposable incomes along with growing population and changing lifestyles are likely to enhance the consumer electronics industries, martial products and other fields which is likely to enhance product demand over the forecast period. Growing implementation of advanced technology boosts the sapphire market growth.

Restraining Factors

"High cost to hamper the market growth"

High cost with slow rate of production will further restrict the growth of sapphire market. High Rising competition in the market will hinder the growth. Many charges have been imposed by the government, which in turn has appeared as a key factor hindering the growth of the market as these measures will scale up the cost of such products considerably.

Sapphire Market Regional Insights

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"Asia Pacific to dominate the region due to rise in disposable income"

Asia Pacific is further expected to witness growth in the Sapphire market share. The region is anticipated to witness major growth over the forecast period due to a high awareness on developments gained from Research and Development. Rise in disposable income along with rising inhabitants are prospective to enhance the consumer electronics industries which is likely to enhance products demand during the forecast period.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are enthusiastically contributing in strategic events that are aimed at upholding strong market position and growing market share by merger, partnerships and others. Key players are driven to introduce new novel products. They outlay rigorously on research and development in order to ascend with additional innovative technology so that they can preserve and progress their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Rubicon Technology (U.S.)
• Monocrystal (Taiwan)
• Adamant Namiki Precision Jewel (Japan)
• Kyocera (Japan)
• Saint-Gobain (France)

Report Coverage

The report provides examination and information according to market segments. Business summary, financial summary, product portfolio, new project launch, recent development analysis are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers nationwide and regional level market size and forecast. The report gives businesses the ability to research new outlook in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.