The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Sapphire glass is the synthetic form of naturally available Sapphire gemstone. In industries, Sapphire Glass is made by alumina or aluminum oxide or alpha alumina, which is approximately 99.99% pure, where raw material is fused and processed to produce hard polycrystalline product. It is chemically inert, thermally stable and hard till 2,912°F having melting temperature of 3,722°F.
Sapphire Glass is next to Diamond in terms of hardness and is extremely scratch resistant. The commercial use of sapphire glass is majorly in the manufacture of watchmaking, smartphone displays and production of mechanical, medical and optical equipment and ballistic material in safety establishments and as a bulletproof.
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Sapphire glass is widely used in semiconductors, LED manufacturing, industrial applications, consumer electronics and so on.
Sapphire Glass Market: Market Dynamics
Due to wide scope of application of Sapphire Glass in aerospace, medical, safety equipment and defense segment, it is expected that Sapphire Glass Market will grow during the forecast period.
In Defense and Aerospace sectors, Sapphire glass is widely used for safety purpose. Many companies manufacture products for infrared windows and electro-optical windows, transparent armour solutions, vision systems and countermeasure systems. Thus, it is expected that the consumption of Sapphire glass in above stated applications will fuel the Sapphire glass Market.
Due to high resistance to heat, laser transmission and non-thrombogenic properties, Sapphire glass is widely used in medical surgical systems. Though the use of Sapphire Glass is very less in above stated applications, the revenue generated is significant due to the high cost of Sapphire Glass.
Intense competition faced by Sapphire glass from the Corning Gorilla glass is expected to hamper the growth of Sapphire glass Market.
High cost of fabrication coupled with low production and continuously decreasing prices of mobile phones (as they use Sapphire Glass on display screen) might hamper the growth of Sapphire Glass Market.
Sapphire Glass Market: Market Segmentation
The Sapphire Glass Market can be segmented on the basis of Product type-
The Sapphire Glass Market can be segmented on the basis of Application-
Sapphire Glass Market: Regional Outlook
In Asia Pacific region, especially in India and China, the demand for branded watches has risen significantly due to increase in disposable incomes and high standard of living. Sapphire Glass is used over normal glass because Sapphire Glass can withstand shattering or scratching, and it is expected that as the demand for these branded watches increases, the consumption of Sapphire Glass will also increase, thereby fuelling the growth of Sapphire Glass Market.
Sapphire Glass is widely used in Semiconductor manufacturing and as a substrate in LED. For Blue LED crystals, majorly Sapphire Glass is used. High quality, long life, greater brightness and reduced energy consumption are some of the key benefits of using sapphire glass in LEDs. In China and Japan, it is expected that, the semiconductor and electronics industry will grow and as a result, the consumption of Sapphire Glass will increase, thereby bolstering the growth of Sapphire Glass Market.
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It is expected that production of Sapphire Glass will rise during the forecasted period in the U.S. and China, as many small companies are setting up their plant and expanding their production capacities, thereby contributing to growth of the Sapphire Glass Market. Middle East is expected to exhibit sluggish growth in Sapphire Glass Market.
Sapphire Glass Market: Market Participants
Examples of some of the market participants in the Sapphire Glass Market are-