Synthetic Sapphire Market to Exceed US$ 9,255.7 Mn. by 2024 | Page 3

R e s e a r c h

a high demand from semiconductor industries are the factors responsible for growing demand of
synthetic sapphires globally.
Display application segment is anticipated to register the fastest growth due to growing market
for smart watches, premium watches, smart phone covers, and camera lenses. The sapphire
substrates in LED is a matured market, wherein substrates of 6’’ and more diameter are at a
growth phase. Moreover, favourable taxation policies of governments across the world are also
anticipated to support the growth of overall synthetic sapphire demand during the forecast
period. The display segment is slated to register a CAGR of around 10.5% in terms of value over
the forecast period.

M a r k e t

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Asia Pacific accounted for the largest value share of the global synthetic sapphire market in
2016, and is anticipated to increase at a CAGR of 8.6% over the forecast period in value terms.
Sales of synthetic sapphires in China is projected to increase by 1.8X between 2016 and 2024.
In terms of value and volume, Asia Pacific is anticipated to register highest growth followed by
Europe over the forecast period.
Rubicon Technology Inc., KYOCERA Corporation, Saint-Gobain, SCHOTT AG, Monocrystal,

P e r s i s t e n c e

Rayotek Scientific Inc., CRYSTALWISE TECHNOLOGY INC., ILJIN Display CO., Ltd, Namiki
Precision Jewel Co., Ltd. and Juropol Sp. z o.o. are some of the leading players in the global
synthetic sapphire market.
Synthetic sapphire manufacturers and fabricators are working closely in fulfilling the end use
demand, especially sapphire for LED substrates is a key growth area. The processing plants are
mostly setup in Asia Pacific region with players in the market continuously improving the
sapphire growth methods in order to improve the sapphire yield.
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Global Synthetic Sapphire Market 2016-2024