Glass Wafer Market to Reap Over US$ 575.17 million in Revenues By End of 2028

April 22 21:11 2021
Growing Adoption of MEMs Technology to Escalate Glass Wafers Market Growth

According to our latest market study on “Glass Wafers Market Forecast to 2027 – COVID-19 Impact and Global Analysis – Application ( CMOS image sensor, Integrated Circuit (IC) Packaging, LED, Microfluidics, FO-WLP, and MEMs and RF ); End-Use ( Energy, IT and Telecommunication, Consumer Electronics, Aerospace and Defense, Automotive, and Healthcare and Biotechnology ),” the market was valued at US$  278.07 million in 2019 and is projected to reach US$  524.31 million by 2027; it is expected to grow at a CAGR of 8.5% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

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A glass wafer is a thin disc that is used as a base for manufacturing integrated circuits and 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. Borosilicate glass wafers provide 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 growth of 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.

SCHOTT AG, AGC Inc., Corning Incorporated, Plan Optik AG, Shin-Etsu Chemical Co., Ltd, Samtec, Inc., Bullen, Nippon Electric Glass, Swift glass, Coresix Precision Glass, Inc are among the well-established players in the global glass wafers market.

Impact of COVID-19 Pandemic on Glass Wafers Market

The COVID-19 outbreak was first reported in Wuhan (China) during December 2020. As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the worst affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures updated on January 2021, there are ~83,322,449 confirmed cases and 1,831,412 total deaths globally. The outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. Although, China is the global manufacturing hub and largest raw material supplier for various industries, it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and disrupting the manufacturing activities, delivery schedules, and various chemicals and materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the chemicals & materials industry, thus restraining the growth of various markets related to this industry.

The global glass wafers market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East &Africa (MEA), and South America. In 2019, Asia-Pacific continent comprises several developing economies such as Japan, China, India, and South Korea, among others. Europe has matured aerospace and medical sector. Asia Pacific continent comprises several developing economies such as India, China, Japan, South Korea, and Australia, among others. These emerging countries are witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the glass wafer market. The glass wafer market in the countries of Asia Pacific has experienced a considerable shift over the years. The massive growth of the Asia Pacific region is due to a manufacturing base in the emerging economies, such as India, Japan, China, South Korea, Singapore, Taiwan, and Indonesia.

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The report includes the segmentation of the global Glass Wafers market as follows:

Global Glass Wafers Market, by Application

  • CMOS image sensor
  • Integrated Circuit (IC) Packaging
  • LED
  • Microfluidics
  • FO-WLP
  • MEMs and RF

Global Glass Wafers Market, by End-Use

  • Energy
  • IT and Telecommunication
  • Consumer Electronics
  • Aerospace and Defense
  • Automotive
  • Healthcare and Biotechnology

 

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