Asia Pacific Glass Wafers Market
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 rising demand in the end use industries for glass wafer is driving the Asia Pacific glass wafer market. the increase in the consumer electronics industry as well as the automobile industry is going to drive the glass wafer market in this region. The benefits of glass wafer market such as corrosion and weather resistant are going to increase the demand for glass wafer products in this region. The growth of the glass wafer market is due to the increasing growth in automobile, and consumer electronics industry. The glass wafer has many applications in the automotive sector such as it is used for exterior lightings, packaging of electronics and sensors, packaging of MEMs and integrated circuit and many more. Thus, a rise in the automotive industry will lead to an increase in demand of glass wafers. The increase in the disposable income of people has led to an increase in the demand for consumer electronics such as mobile phones and wearables which will drive the glass wafer market in Asia Pacific.
In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of glass wafers manufacturing activities; other glass components manufacturing sector has subsequently impacted the demand for glass wafers during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of glass equipment manufacturing projects, thereby reducing the demand for glass wafers. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China, Australia and South Korea. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
Strategic insights for the Asia Pacific Glass Wafers provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 186.83 Million |
| Market Size by 2028 | US$ 384.27 Million |
| Global CAGR (2021 - 2028) | 9.3 % |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Glass Wafers refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The glass wafers market in Asia Pacific is expected to grow from US$ 186.83 million in 2020 to US$ 384.27 million by 2028; it is estimated to grow at a CAGR of 9.3 % from 2021 to 2028. There has been a rise in the demand for glass wafers from the Asia Pacific region due to the rise in the automotive industry. The demand for electrification of vehicles, along with increased connectivity, will lead to increased research and development in the industry. New technologies such as Advanced Driver – Assistance System as well as autonomous driving will lead to increase demand for glass wafers in the automotive industry. The light detection and ranging (LiDAR) technology which is an integral part of the autonomous driving revolution, involves micro-optics which are needed in order to detect the nature and proximity of surrounding objects. The glass wafer substrates help in maximizing the reliability and performance of sensitive LiDAR MEMS mirrors and high-power lasers by protecting them from heat and harsh environments and keeping out moisture, dust, and gases. The glass wafers are used as a packaging solution for the integrated circuit as it provides enhanced technical performance. Thus, an increase in demand from Asia Pacific will become an opportunity for the glass wafer market.
In terms of application, the CMOS image sensor segment accounted for the largest share of the Asia Pacific glass wafers market in 2020. In terms of end use, the consumer electronics segment held a larger market share of the glass wafers market in 2020.
A few major primary and secondary sources referred to for preparing this report on the glass wafers market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Schott AG, AGC Inc., Corning Incorporated, Plan Optik AG, Bullen, Nippon Electric Glass, Samtec Inc. and Shin-Etsu Chemical Co., Ltd.
The Asia Pacific Glass Wafers Market is valued at US$ 186.83 Million in 2020, it is projected to reach US$ 384.27 Million by 2028.
As per our report Asia Pacific Glass Wafers Market, the market size is valued at US$ 186.83 Million in 2020, projecting it to reach US$ 384.27 Million by 2028. This translates to a CAGR of approximately 9.3 % during the forecast period.
The Asia Pacific Glass Wafers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Glass Wafers Market report:
The Asia Pacific Glass Wafers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Glass Wafers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Glass Wafers Market value chain can benefit from the information contained in a comprehensive market report.
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