Worldwide Glass Wafer Industry to 2028 - Usage of Glass Wafer in Various Industries is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Glass Wafer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application, and End-Use" report has been added to ResearchAndMarkets.com's offering.

The global glass wafer market was valued at US$ 295.48 million in 2020 and is projected to reach US$ 575.17 million by 2028; it is expected to grow at a CAGR of 8.68% from 2020 to 2028.

A glass wafer is basically a very thin disc that is used as a base for manufacturing integrated circuits and also for protection in consumer electronics. The glass wafer is usually made up of quartz, borosilicate glass or fused silica. These wafers are used in a wide variety of industrial and technical applications. Glass wafer has various properties such as the borosilicate glass provides a higher chemical stability against water or any other type of chemical. The rise in demand for compact and advanced consumer electronic devices is going to drive the glass wafer market. The increase in the demand for automotive electronics because of electric and hybrid vehicles, will lead to an increase in demand for glass wafers.

Based on end-use, the glass wafer market is segmented into energy, it and telecommunication, consumer electronics, aerospace and defense, automotive, and healthcare and biotechnology. The consumer electronics segment held the largest share of the market in 2020. Glass wafer in the consumer electronics segment is used in sectors such as mobile devices and wearables, augmented reality, imaging and projection, and home and electrical appliances. The glass wafers in the mobile device and wearable sector are used for the protection of the cover glass for display purposes, substrate for polymer lenses, cover glasses for image sensors, used for protecting the electronics and semiconductors present inside the device as well as protecting the integrated circuit. The glass wafer in the imaging and projection segment is used in high end digital projectors as well as in TV and imaging display as it offers high transparency, heat resistance, and low thermal expansion. The use of sensors in the consumer electronic devices has increased. The number of sensors in mobile devices have increased and it also enables unlocking the phones with facial recognition, used in augmented reality and many more.

Geographically, the glass wafer market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). In 2019, Asia Pacific held the highest share of the global glass wafers market. The demand for glass wafers is expected to increase in the region due to various factors such as the increasing spending capacity of the consumers, better living standards, and expanding industrialization. The other factor propelling the adoption of glass wafers in the Asia Pacific region is the automotive industry's growth due to the rise in automobiles' demand. Besides these, rapid growth in the military and defense industries and rise in the manufacturers' R&D activities also significantly escalate the growth of the glass wafers market in Asia Pacific. Asia Pacific is also estimated to register the fastest CAGR in the market during the forecast period. The rapid growth of this region is primarily attributed to an increase in various governments' investments toward its industrial sector.

Market Dynamics

Drivers

• Rising Adoption of MEMs Technology
• Usage of Glass Wafer in Various Industries

Restraint

• High set-up cost

Opportunity

• Increase in demand from Asia Pacific

Future Trend

• Innovative Applications for Glass Wafer

Companies Mentioned

• SCHOTT
• AGC Inc.
• Corning Incorporated
• Plan Optik AG
• Bullen
• Nippon Electric Glass Co., Ltd.
• SAMTEC, Inc.
• Shin-Etsu Chemical Co., Ltd
• Coresix Precision Glass, Inc.
• Swift Glass

For more information about this report visit https://www.researchandmarkets.com/r/ioyor0

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