At 6.2% CAGR, the Asia Pacific Sapphire Substrate Market is projected to be worth US$ 496.07 million by 2028, says Business Market Insights   

According to Business Market Insights’ research, the Asia Pacific sapphire substrate market was valued at US$ 329.47 million in 2021 and is expected to reach US$ 496.07 million by 2028, registering an annual growth rate of 6.2% from 2021 to 2028. Boosting trend of using large LEDs and upraising adoption of sapphire technology in various devices and applications across electronics industry.                

The growing demand for LEDs in various applications, such as display and lighting solutions, is fueling the need for sapphire substrates. Due to the growth in the usage of LED sapphire substrate, the upstream manufacturing process and the level of equipment will be improved in the near future. Technical issues and overcoming processes will result in rising costs. However, large crystals can develop scale effects and be in line simultaneously with the existing semiconductor production process, reducing the overall cost. The development of the large size LEDs will expand the sapphire application range and reduce the cost of production.  

On the contrary, fabrication of high resolution in sapphire nanostructures. 

Based on wafer diameter, the Asia Pacific sapphire substrate market is segmented into 2 inches, 4 inches, 6 inches, and others. The 4 inches segment held 40.8% market share in 2021, amassing US$ 134.31 million. It is projected to garner US$ 204.97 million by 2028 to expand at 6.4% CAGR during 2021–2028.

Based on application, the Asia Pacific sapphire substrate market is segmented into LED, RFIC application, laser diode, silicon on sapphire (SOS) IC, others. The LED segment held 79.4% market share in 2021, amassing US$ 261.74 million. It is projected to garner US$ 403.16 million by 2028 to expand at 6.6% CAGR during 2021–2028.

Based on country, the Asia Pacific sapphire substrate market has been segmented into Taiwan, China, India, Japan, South Korea, and Rest of APAC.  Our regional analysis states that China captured 27.8% market share in 2021. It was assessed at US$ 91.66 million in 2021 and is likely to hit US$ 154.67 million by 2028, exhibiting a CAGR of 8.0% during the forecast period.  

Key players dominating the Asia Pacific sapphire substrate market are Semiconductor Wafer Inc; ILJIN DISPLAY CO., LTD; CRYSCORE OPTOELECTRONIC LIMITED; CRYSTALWISE TECHNOLOGY INC.; SAINT GOBAIN S.A.; KYOCERA Corporation; and Monocrystal among others.

• In August 2020, Monocrystal, a global leader in synthetic sapphire growing and processing, announced that its project to manufacture extra-large diameter sapphire wafers for disruptive light-emitting diode (LED) applications is one of six Russian projects worth $20 billion approved by the Intergovernmental Russian-Chinese Commission on Investment Cooperation.
• December 2021, Iljin Display Co. stated it would sell stock to generate 30 billion won ($25.4 million). The profits from the stock sale will mostly be utilised to fund the company's activities.

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