Synthetic Sapphire Market Report 2024

The synthetic sapphire market size has grown strongly in recent years. It will grow from $5.69 billion in 2023 to $6.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to the increasing utilization of synthetic sapphire across various sectors such as electronic devices, optical applications, medical and healthcare uses, aerospace and defense industries, and consumer electronics.

The synthetic sapphire market size is expected to see strong growth in the next few years. It will grow to $8.23 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to several factors, expansion in optoelectronics applications, increasing integration into automotive applications, adherence to environmental regulations, economic growth, and the inherent material advantages of synthetic sapphire. Major trends expected during this period include advancements in manufacturing technologies, expansion in optics and photonics applications, improvements in sapphire material quality, geographical expansion of production facilities, and increased investment in research and development.

The synthetic sapphire market is poised for growth driven by the expanding electronics industry. This sector encompasses companies involved in designing, developing, manufacturing, and distributing electronic devices and components. Growth in the electronics industry is fueled by continuous advancements in technology, including automotive electronics, innovations in medical devices, and the increasing adoption of automation and robotics in manufacturing processes. Synthetic sapphire, valued for its durability and scratch resistance, finds extensive use in LED substrates and cover glasses for smartphones and other electronic devices. For example, in May 2023, the Japan Electronics and Information Technology Industries Association reported significant figures for electronic equipment production in Japan, highlighting substantial growth year-over-year. Consumer electronics production also saw notable increases, underscoring the robust demand driving the synthetic sapphire market.

Leading companies in the synthetic sapphire market are concentrating on developing innovative products to cater to diverse high-tech applications. Pure synthetic sapphire, a lab-grown crystalline form of aluminum oxide (Al₂O₃), is particularly notable for its hardness, transparency, and scratch resistance, making it indispensable in various industrial applications. For instance, Alpha HPA Limited, an Australia-based chemical company, launched Alpha Sapphire in August 2023, setting new industry standards with its ultra-high purity surpassing 99.995% (4N5), emphasizing sustainability and innovation in synthetic sapphire production.

In March 2024, McDanel Advanced Material Technologies strengthened its position in the market by acquiring Rayotek Scientific Inc., a prominent US-based manufacturer of synthetic sapphire. This acquisition enhances McDanel's portfolio and manufacturing capabilities, enabling the combined entity to better serve customer needs in industries such as aerospace, defense, space, and semiconductors.

Major companies operating in the synthetic sapphire market are Goodfellow Corp, Cooksongold, Alkor Technologies, Microlap Technologies Inc, Beach Gem & Jewelry Co. Ltd., Alpha HPA, Rayotek Scientific Inc, Meller Optics Inc, Specialty Glass Products, Gavish, Bird Precision, Mi-Net Technology, Crystal Systems, Luxium Solutions, Monocrystal, Preciball, Imetra Inc., Guild Optical Associates Inc., Swiss Jewel Company, Wuzhou Provence Jewelry Co. Ltd., Reade Advanced Materials, MicroSRC Technology Company Ltd, Guangxi Wuzhou Starsgem Co. Limited.

Asia-Pacific was the largest region in the synthetic sapphire market in 2023. The regions covered in the synthetic sapphire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the synthetic sapphire market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Synthetic sapphire is a laboratory-created material designed to replicate natural sapphire, possessing identical physical, chemical, and optical properties. It is prized for its hardness, transparency, and resistance to scratches and chemicals, making it highly valuable in diverse applications such as watch crystals, optical windows, LED substrates, and electronic wafers.

The main types of synthetic sapphires include monocrystalline sapphire and trigonal system sapphire. Monocrystalline sapphire is renowned for its exceptional hardness and clarity, manufactured from a single crystal structure. It finds widespread use in optical applications, sapphire substrates, displays, and various other technological and industrial uses.

The synthetic sapphire market research report is one of a series of new reports that provides synthetic sapphire market statistics, including synthetic sapphire industry global market size, regional shares, competitors with a synthetic sapphire market share, detailed synthetic sapphire market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic sapphire industry. This synthetic sapphire market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The synthetic sapphire market consists of sales of verneuil (flame fusion) sapphire, czochralski (crystal pulling) sapphire, and kyropoulos sapphire. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.