The global sapphire glass market is expected to grow at a CAGR of around 6% during 2019-2024. Sapphire glass is a synthetic crystal that is produced by applying massive pressure and heat to aluminum and oxygen in cylindrical sticks called boules. After diamond, it is the second hardest substance and offers high strength, optical transparency and resistance from scratches, shattering or any other kind of damage. It is used in the manufacturing of bullet-proof glass, armored vehicles, screens, visors and military bodysuits. It further finds applications in scientific experiments that need optical windows under harsh environments. In addition to this, it also forms an integral part of numerous consumer electronic products.
The extensive utilization of sapphire glass in the medical, aerospace and defense sectors is the key factor driving the market growth. In the defense and military sector, it offers solutions for transparent armor, infrared windows and various countermeasure systems. In the medical industry, it is widely used in endoscope lenses, laser hair removal systems, insulators and surgical blades as well as for laser transmission. Sapphire glass is also utilized in the consumer electronics segment in the manufacturing of LED screens used in devices such as television (TV) sets, laptops, and mobile phones. Rapid urbanization along with rising disposable incomes of consumers have inclined them toward high-end consumer goods such as smartphones and tablets with advanced features. This is consequently leading to the demand for sapphire glass in the consumer electronics segment. Furthermore, owing to their energy-saving characteristic, efforts are being undertaken by governments across the globe for the widespread incorporation of LED lights, which is further boosting the market growth.
IMARC Group’s latest report provides a deep insight into the global sapphire glass market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global sapphire glass market in any manner.
The report has also analysed the competitive landscape of the market with some of the key players being KYOCERA Corporation, Rayotek Scientific Inc., Rubicon Technology Inc., Saint-Gobain, Crystran Ltd., Crystalwise Technology Inc., Monocrystal, SCHOTT North America Inc., Swiss Jewel Company, GT Advanced Technologies, Precision Sapphire Technologies,Ltd, STC, Namiki Precision Jewel Co., Ltd., DK AZTEC Co., Ltd., Tera Xtal Technology Corporation, etc.
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