Seattle, WA -- (SBWire) -- 11/07/2019 --Sapphire substrates are produced for IR application to offer thermal resistance, sand and water erosion, high temperature, small dielectric loss, and excellent electrical insulation property.

Drivers and Restraints

Growing demand for sapphire compound substrate across LED and mobile device applications is projected to fuel the market growth of the sapphire compound substrate market. According to Coherent Market Insights' analysis, the global LED lighting market is projected to reach over US$ 120 billion by 2025, exhibiting a CAGR of 16.61% over the forecast period.

Furthermore, according to the Internet World Stats, in China, a number of internet users in 2015 were 705.9 million and it increased to 721.4 million in 2016.

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Market Dynamic

Out of application, the LED sapphire substrate segment is projected to experience significant growth in the global sapphire compound substrate market and is projected to maintain its dominance over the forecast timeline. Moreover, major players are focusing on expanding their LED sapphire substrate capacities, owing to rising their demand from LED tubes and bulbs. For instance, in August 2017, Lanjing Technology, a China-based LED chip supplier, signed an agreement with the People's Government of Hongta District, to ramp up the capacity for LED sapphire substrate manufacturing.

Market Outlook

The market in the Asia Pacific is expected to witness significant growth in terms of value and is projected to maintain its dominant position over the forecast period, owing to the booming electronics industry in emerging economies such as India and China. According to the India Brand Equity Foundation (IBEF), the electronics market is anticipated to increase with a CAGR of 24.4% to US$ 400 billion by 2020.

Key Trends

Major players are focused on adopting various inorganic growth strategies such as mergers and acquisitions, joint ventures, partnerships, marketing, and new product launches to strengthen their foothold in the global sapphire compound substrate market. For instance, in April 2012, LED sapphire substrate unit of Sino-American Silicon Products Inc. (SAS), merged with Crystalwide Technology Inc., to improve operating performance and to enhance overall competitiveness.

Market Players

Key players operating in the global sapphire compound substrate market include Rubicon Technology, Inc., Meller Optics, Inc., Kyocera Corporation, Crystalwise Technology Inc., Compagnie de Saint-Gobain S.A., and Monocrystal PLC

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Market Segmentation

By Application

- A light-emitting diode (LED)

- Laser Diodes

- Infrared (IR)

- Silicon on Sapphire Integrated Circuit (SOS)

- Radio Frequency Integrated Circuit (RFIC)

- Others (Window Films and others)

By Region

- North America

- South America

- Europe

- Asia Pacific

- Middle East & Africa

About Coherent Market Insights
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.