North America 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 North American glass wafer market is expected to experience brisk growth during the forecast period growth due to the adoption of glass wafers in the consumer electronics industry. Glass wafers are mostly used in the consumer electronics industry for mobile devices and wearables, imaging and projection, home and electrical appliances. There has been an increased use of sensors in consumer electronic devices which has led to an increase usage of glass wafer because it is used to make sensing applications. Moreover, the enormous growth of the consumer electronics industry in North America along with huge production demand is anticipated to have a positive impact on the industry growth in the upcoming years in the region.
In case of COVID-19, in North America, especially the US, 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 North American countries, i.e., Canada and Mexico. 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 North America 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$ 55.88 Million |
| Market Size by 2028 | US$ 103.78 Million |
| Global CAGR (2021 - 2028) | 7.9% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America is expected to grow from US$ 55.88 million in 2020 to US$ 103.78 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028. There has been a rise in the demand for glass wafers from the North America 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 North America 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 North America glass wafers market in 2020. In terms of end user, 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 North America 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 Co. Ltd., Samtec Inc., Coresix Precision Glass Inc., Swift Glass and Shin-Etsu Chemical Co., Ltd.
The North America Glass Wafers Market is valued at US$ 55.88 Million in 2020, it is projected to reach US$ 103.78 Million by 2028.
As per our report North America Glass Wafers Market, the market size is valued at US$ 55.88 Million in 2020, projecting it to reach US$ 103.78 Million by 2028. This translates to a CAGR of approximately 7.9% during the forecast period.
The North America 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 North America Glass Wafers Market report:
The North America Glass Wafers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Glass Wafers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Glass Wafers Market value chain can benefit from the information contained in a comprehensive market report.
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