Glass Wafer Market Size to Hit US$ 575.17 Mn by 2028

Glass wafer market to grow at a CAGR of 8.5% during 2020-2028. In 2020, Asia Pacific contributed to the largest share in the global market.

NEW YORK, UNITED STATES, November 18, 2021 /EINPresswire.com/ — According to our latest market study on “Glass Wafers Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Application and End-Use,” the market was valued at US$ 295.48 million in 2020 and is projected to reach US$ US$ 575.17 million by 2028.

Strategic Insights

Market Size Value in – US$ 295.48 Million in 2020
Market Size Value by – US$ 575.17 Million by 2028
Growth rate – CAGR of 8.5% from 2021-2028
Forecast Period – 2021-2028
Base Year – 2021
No. of Pages – 156
No. Tables – 79
No. of Charts & Figures – 56
Historical data available – Yes
Segments covered – Application Packaging and End-Use
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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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.

Rising Adoption of MEMS Technology is Going to Influence the Glass Wafer Market Globally

The demand for MEMs around the world has been on the rise due to its applications in communication systems, automotive sensors, as well as portable medical devices. The miniature design of these MEMs makes them a suitable choice in order to be used in all electronic devices, which has increased the application of MEMs, thereby boosting the demand for MEMs in the semiconductor market. The glass wafers are mostly utilized for wafer packaging of sensitive components which is because of their superior functionality as well as their reliability to overcome harsh environments. These glass wafers are also used as carrier substrates due to their chemical resistance and thermal stability. The demand for portable medical equipment, which includes patient monitoring devices, has been on the rise due to the pandemic owing to the increased usage and demand by health workers across the world. The increased awareness among the consumers in the pandemic has increased the demand for personal monitoring devices which has led to an increase in demand for MEMs, which in turn has led to an increase in demand for glass wafers.

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.

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Glass Wafers Market: End-Use

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 numbers of sensors in mobile devices have increased and it also enables unlocking the phones with facial recognition, used in augmented reality and many more.

Glass Wafers Market: Competitive Landscape and Key Developments

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

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Source: EIN Presswire