Synthetic sapphire is a high-performance material used in a range of applications including cover glass for smartphones, smartwatches, and laptops due to its superior hardness, thermal conductivity, and resistance to corrosion. Thanks to its scratch-resistant properties and durability compared to ordinary glass, synthetic sapphire is increasingly being utilized as a replacement for glass screen covers in premium smartphones and smartwatches. The global Synthetic Sapphire Market is estimated to be valued at US$ 7.12 Bn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising demand for synthetic sapphire from the growing smart devices industry has been a key factor accelerating market growth. Synthetic sapphire is highly preferred as the cover glass material for premium smartphones and smartwatches due to its scratch resistance and durability. Manufacturers are also increasingly incorporating synthetic sapphire glass covers on devices to provide enhanced protection against accidental drops and scratches. As advanced features and functionalities in smart devices drive replacement demand for durable materials like synthetic sapphire, its market is expected to expand steadily over the forecast period.
 

Segment Analysis
The global synthetic sapphire market is dominated by the cover glass sub-segment. This sub-segment held around 60% market share in 2023 owing to increasing demand for sapphire cover glass in smartphones, watches, and other consumer electronic devices. Sapphire cover glass provides excellent scratch resistance and is highly durable compared to traditional gorilla glass. Thus, it is highly preferred for use as a protective cover material in premium smartphones and smartwatches.

Key Takeaways
The Global Synthetic Sapphire Market Trend is expected to witness high growth. The Asia Pacific region is currently the fastest growing as well as the dominating region in the synthetic sapphire market. Countries like China, Taiwan, South Korea and Japan are major producers and consumers of synthetic sapphire. Strong presence of consumer electronics manufacturers and lower production costs make Asia Pacific an attractive market for synthetic sapphire.

Regional analysis
The Asia Pacific region is currently dominating the global synthetic sapphire market with a share of over 50% in 2023. Growing demand for smartphones and smartwatches from countries like China, India, Japan and South Korea is driving the growth of the synthetic sapphire market in the region. In addition, presence of leading consumer electronics manufacturers and favorable government policies promoting the electronics industry further boost the market growth. China accounted for over one-third of the global synthetic sapphire demand owing to strong electronics manufacturing base and import of sapphire from Taiwan for domestic consumption.

Key players
Key players operating in the synthetic sapphire market are The Coconut Company (UK) Ltd., Tirumala Food Industries, Enature Organic Products, Ayam Sarl, Nestlé S.A., Renuka Foods PLC, S & P Industries Sdn Bhd, Shriram Coconut Products Limited, Star Heritage Products, and Pulau Sambu Singapore Pte Ltd.

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