Sapphire Ingot Market - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2025
Sapphire ingot is used as raw material for further fabrication. It is a base material for growing epitaxial layers and etching blue and white LED chips. Manufactures of sapphire ingot offer optical grade sapphire ingot that including UV grade and IR grade. Standard sizes and orientations along with orientation offsets and orientation flats of the sapphire ingot are available in the market. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2178 Market Dynamics Increasing demand for sapphire ingot from smart watches and mobile covers are major factors driving growth of the global sapphire ingot market. Sapphire ingot is manufactured in bulk quantities with commercially acceptable purity levels. Therefore, it is preferred in the luxury watches industry for producing high strength and hardness of watch windows. However, high manufacturing cost of sapphire ingot is major factor restraining the growth of the global sapphire ingot market. Market Outlook Among application, smart phones segment held a significant share in the global sapphire ingot market in 2017, owing to the high demand for sapphire ingot in front cover of smartphones. Further, rising number of smart phone users around the world is anticipated to fuel this segment growth, during the forecast period. For instance, according to the Australian Communications and Media Authority, in May 2012, number of smartphone owners in Australia was 8.67 million, an increase by 104% from the previous year. Asia Pacific is expected to be the fastest growing region in the global sapphire ingot market over the forecast period. This is owing to increasing demand for LED screens in emerging economies such as China and India for application in various electronic products. For instance, according to India Brand Equity Foundation (IBEF), in India,