USD 7.14 billion
Sapphire Market Size, Share, Growth Analysis, By Type(Natural Sapphire, Synthetic Sapphire), By Application(Optical, Sapphire Substrates, Display, Other), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15M2012 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
63
|Figures:
68
Sapphire Market Insights
Sapphire Market Market size was valued at USD 7.14 billion in 2019 and is poised to grow from USD 7.61 billion in 2023 to USD 12.7 billion by 2031, at a CAGR of 6.61% during the forecast period (2024-2031).
The demand for sapphire has increased during the past couple years. High-end wristwatches, bangles, and jewellery are created with it. Sapphires come in two main varieties: natural sapphires and synthetic sapphires. Sapphires can be mined naturally or generated and cultivated in facilities. From the mines, natural sapphires are taken out. These sapphires are the most pricey and valuable varieties. The blue sapphires were either the earliest known sapphires or the most rudimentary sapphires.
Sapphire has many benefits, including hardness, optical transparency, strength, and chemical inertness. These crystals are exceptionally fine and perfect. As a result, they have been used in power IC, power semiconductors, opto-semiconductors, RF operations, and other fields in the power, electronic goods, aerospace, and defense industries. Improved sapphire technology will be possible thanks to advancements in the semiconductor sector.
US Sapphire Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Synthetic Sapphire
Fastest Growth
Synthetic Sapphire
Growth Rate
6.61% CAGR
Global Sapphire Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Sapphire Market Segmental Analysis
The global sapphire market segmentation is based on type, application, and region. Based on type the sapphire market is segmented into natural sapphire, and synthetic sapphire. Based on application the market is segmented into optical, sapphire substrates, display, and other. Based on region the global Sapphire market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Sapphire Market Analysis by Type
In 2021, synthetic sapphire held the biggest market share, and over the forecast period, it is expected to increase at the fastest rate. The discovery of synthetic corundum and the launch of synthetic rubies in the 1800s were supported by the development of synthetic sapphires. There are no pure red sapphires since corundum's variety gives rise to both rubies and sapphires. Synthetic sapphires have been created at a number of gem labs since they were initially used in the industrial sector as a less costly and much more readily replicable substitute for naturally produced sapphires.
Sapphire Market Analysis by Application
Optical accounted for the largest sapphire market share in 2021 and is projected to grow at the highest rate during the forecast period. Sapphire Optical Components are used in a variety of applications requiring high durability or broad spectral ranges, including semiconductors, FTIR spectroscopy, or FLIR imaging. Sapphire, which is the second hardest crystal, features a variety of attributes that are ideal for use in harsh environments, including extreme surface hardness, high thermal conductivity, high dielectric constant, as well as strong resistance to a variety of chemical acids or alkalis.
Global Sapphire Market By Type, 2021 (%)
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Sapphire Market Regional Insights
In 2021, the US dominates the North American sapphire market due to the significant need for Sapphire in a variety of industries, such as the production of LEDs, aircraft, and optical devices. During the upcoming Within new years, the Latin American market is estimated to grow more quickly than any other area, mostly as a result of increased requirements from street light suppliers and LED producers. The 2nd biggest market for sapphire is Europe, where demand has increased significantly. This trend is being driven by the robust performance of the industrial sector as well as helpful regulatory measures.
Over the next few years, the sapphire market in Asia-Pacific is expected to expand dramatically. In particular, rising demand from China, Japan, and India will be the driving force behind this. Prospects for sapphires have improved as a result of the expansion of the region's LED manufacturing sector. The industry is increasingly choosing to employ sapphires rather than less expensive substitutes.
Global Sapphire Market By Geography, 2021 - 2028
- Largest
- Fastest
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Sapphire Market Dynamics
Sapphire Market Driver
- The sapphire market growth is primarily being driven by the rise in utilization in sectors including IT and communications, power, aerospace, and defense. Due to its excellent qualities, it is about to become a successful substance in semiconductors. The rising use of sapphire in RF applications and power electronics is also estimated to spur additional growth in the sapphire industry.
- Numerous optical applications in the healthcare sector utilize sapphire. It is used for its robustness and optically clean hermetic characteristics. Applications for sapphire include tomography and co2 laser surgery equipment. Other uses include aiding in the production of orthopedic implants, scalpels, and optical probes. Because of its mechanical toughness, sapphire can tolerate blood as well as substances like chlorine and fluorine. Thus, the market expanded as a result of its many benefits, including hardness, optical transparency, strength, and chemical inertness.
Sapphire Market Restraint
- As technology advances, the price of synthetic sapphire will also decrease since it will become less expensive to produce. Natural stones, on the other hand, are uncommon, which will maintain their significant value. Hence, as technology develops, the cost of synthetic sapphire will go down, which is projected to slow sapphire market expansion.
- Several industrial sectors, including defense, have seen never-before-seen effects from the new coronavirus pandemic, primarily as a result of supply chain and manufacturing facility interruptions. Given the economic slump and falling stock prices, the crisis is also expected to have an influence the demand for defense-related products and services. The aforementioned problems could hinder the sapphire glass sector's consistent expansion.
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Sapphire Market Competitive Landscape
The global sapphire market is dominated by companies like Rubicon Technology, GT Advanced Technology, Monocrystal Inc., and others. To increase their position in the global market, these organizations have used a variety of techniques, including new products, alliances, collaborations, mergers & acquisitions, and joint ventures. To increase their position in the worldwide market, these companies are concentrating on initiatives like new product releases and corporate expansions. For instance, in March 2021, to protect the display and the cameras on the rear, Kyocera unveiled the DuraForce Ultra 5G UW, an ultra-rugged smartphone outfitted with its own scratch-resistant Sapphire Shield technology.
Top Players in the Sapphire Market
- Rubicon Technology (US)
- Sapphire Technology Company (China)
- Monocrystal (Taiwan)
- Thermal Technology (US)
- CrystalTech HK (China)
- Namiki Precision Jewel (Japan)
- IntElorg Pte (Singapore)
- Shanghai Daheng Optics and Fine Mechanics (China)
- SF Tech (US)
- Omega-crystals (US)
- GT Advanced Technologies (US)
- Kyocera (Japan)
- Advanced Renewable Energy Company ( US)
Sapphire Market Recent Development
- In April 2021, the largest Sapphire tube made of a single crystal is produced by Saint-Gobain. This will make it possible to visually see procedures and experiments carried out at high temperatures.
Sapphire Key Market Trends
- Considering component shortages and supply interruptions caused by the COVID-19 pandemic, increasing mobile purchases may contribute to a sector rebound in the near future. Global demand for sapphire materials will also be fueled by the advent of high-tech consumer products like smartwatches with durable screens and numerous health-focused features and oximeters, which are increasingly used to monitor health at home.
Sapphire Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in 2021, synthetic sapphire held the biggest market share, and over the forecast period, it is expected to increase at the fastest rate. Optical accounted for the largest market share in 2021 and is projected to grow at the highest rate during the forecast period. In 2021, the US dominates the North American Sapphire industry due to the significant need for Sapphire in a variety of industries, such as the production of LEDs, aircraft, and optical devices.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 7.14 billion |
| Market size value in 2031 | USD 12.7 billion |
| Growth Rate | 6.61% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sapphire Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sapphire Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sapphire Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sapphire Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sapphire Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sapphire Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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