Newark, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 800 million in 2023 global sapphire glass market will reach USD 1727.14 million in 2033. The raw material for sapphire glass is aluminium oxide (Al2O3). It has a reputation for being incredibly durable. It is second only to diamonds in terms of hardness. It is renowned for its optical clarity in addition to its exceptional durability. It provides transparency from visible light to ultraviolet light. It also has a high level of chemical and scratch resistance. It is known to provide thermal stability as well. It is also resistant to high pressures. Its strong pressure resistance and temperature stability make it perfect for usage in harsh environments. The Verneuil technique is used to create sapphire glass.
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Essentially, it is the powdered aluminium oxide crystallisation. The resulting sapphire glass is larger, more transparent, and has fewer flaws. Accessories and consumer gadgets are made of sapphire glass. Sapphire glass is perfect for watch faces, camera lenses, phone cameras, smartphone screens, and other optical instruments because of its scratch resistance and optical clarity. The aerospace, military, and medical industries also employ it. Because sapphire glass is so durable, more can be produced, extending the life of the product.
Key Insight of the Global Sapphire glass Market
Asia Pacific will dominate the market during the forecast period.
The need for sapphire glass is increased by the region's robust and highly developed consumer electronics, IT, and telecommunications industries, which are led by China, Japan, and South Korea. These nations are also at the forefront of invention and developments in sapphire glass and its uses. The increasing population and improving standard of living fuel the need for consumer electronics, which in turn fuels the demand for sapphire glass. The digital landscape is being embraced by many sectors of the region's fast evolving economies. Along with becoming internet-savvy, the populace owns a growing number of smart, linked products. The market for sapphire glass will see growth in demand due to the emergence of the digital economy.
In 2023, the high-grade transparency sapphire glass segment dominated the market with the largest market share of 57% and revenue of 456 million.
The product type segment is divided into high grade transparency sapphire glass and general transparency sapphire glass. In 2023, the high-grade transparency sapphire glass segment dominated the market with the largest market share of 57% and revenue of 456 million.
In 2023, the smartphones segment dominated the market with the largest market share of 40% and revenue of 320 million.
The application segment is divided into smartphones, watches, optical and mechanical instruments, safety establishments, medical devices, and others. In 2023, the smartphones segment dominated the market with the largest market share of 40% and revenue of 320 million.
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Advancement in market
A more advanced model of Mobvoi's well-liked TicWatch Pro 5 wristwatch was unveiled: the TicWatch Pro 5 Enduro. Although the new model's durability and functionality have significantly improved, it still has many of the same key functions as its predecessor. The 1.43-inch AMOLED display of the TicWatch Pro 5 Enduro is still there, but sapphire crystal has been upgraded for increased scratch resistance. It is powered by Wear OS 3.5 and has a Snapdragon W5 Plus Gen 1 CPU that offers 32GB of storage and 2GB of RAM. The smartwatch weighs a little bit more at 44.8 grammes, although it is somewhat thinner at 11.95mm. A side button, an upgraded rotating crown, a strengthened bezel, and a 24mm Fluororubber band that improves overall durability are some notable physical upgrades.
Market Dynamics
Driver: the rising demand for consumer electronics.
The growing population, quick urbanisation, rising disposable income, and abundance of options in the market are all contributing to the rising demand for consumer electronics. Higher discretionary money allows customers to treat themselves to more indulgences. High-end electronics are becoming more and more necessary as cities become more urbanised. Customers have options and excellent discounts because there are many competitors selling competing products in the market. Consumer spending increases as a result of the quick launch of new products and the shorter product life. Sapphire glass is used in these electronics because it provides superior optical clarity, transparency, scratch resistance, and durability. It is an essential part of the market for consumer electronics. Consequently, the growing desire for consumer gadgets will propel the worldwide sapphire Consequently, the expansion of the worldwide sapphire glass market will be driven by the rising demand for consumer electronics.
Restraints: The expensive price of sapphire glass.
The procurement, processing, cutting, polishing, and refining of aluminium oxide powder are all costly procedures. Aluminium oxide is costly, and its energy-intensive manufacturing raises the price even further. Before the final product is produced, it must pass through a few more phases as a result. The cost of the technology, tools, and man hours needed to finish the complete process are all high. Because it is a premium product utilised in high-end businesses, the finished product is expensive. The growth of the market will be hampered by the high cost of sapphire glass.
Opportunities: developments in technology.
Fewer items and increased downtime are caused by the sluggish processing times. More products and less downtime have resulted from improvements in production efficiency brought forth by innovations and breakthroughs. Similar developments have also increased product quality, resulting in more complex and lucid end products. Technological developments have made it possible to achieve economies of scale, lower production costs, and less downtime, which has led to better products that are more accessible to market participants. Thus, during the course of the projected period, technological improvements will support the expansion of the worldwide sapphire glass market.
Challenges: Manufacturing complexities.
The processed used for converting powdered aluminium oxide to crystallized sapphire glass are highly sophisticated processes as they require very precise temperature, pressure and other relevant parameters. It also requires high-end equipment with controls. The whole process needs to monitored and controlled at all times to ensure a clear, durable and defect free sapphire glass. therefore, the manufacturing complexities of processing sapphire glass will challenge the market’s growth.
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Some of the major players operating in the global sapphire glass market are:
• Crystalwise Technology Inc.
• Crystran Ltd.
• GTAT Corporation
• KYOCERA Corporation
• Monocrystal PLC
• Rayotek Scientific Inc.
• Rubicon Technology, Inc.
• Saint-Gobain Group,
• SCHOTT North America Inc. (SCHOTT AG)
• Swiss Jewel Company
Key Segments covered in the market:
By Product Type
• High Grade Transparency Sapphire Glass
• General Transparency Sapphire Glass
By Application
• Smartphones
• Watches
• Optical and Mechanical Instruments
• Safety Establishments
• Medical Devices
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Million). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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