Glass Wafer Market Size, Trends and Growth Analysis by 2027

The global glass wafer market was valued at approximately US$ 295.48 million in 2020 and is anticipated to grow to US$ 575.17 million by 2028, reflecting a compound annual growth rate (CAGR) of 8.5% from 2020 to 2028.

A glass wafer is a thin disc utilized primarily as a substrate for the production of integrated circuits and for protective applications in consumer electronics. Typically composed of materials such as quartz, borosilicate glass, or fused silica, these wafers find extensive use across various industrial and technical sectors. Notably, borosilicate glass offers enhanced chemical stability, making it resistant to water and other chemicals. The increasing demand for compact and sophisticated consumer electronic devices is a significant factor driving the growth of the glass wafer market. Additionally, the rising need for automotive electronics, particularly in electric and hybrid vehicles, is expected to further boost the demand for glass wafers.

The glass wafer market is categorized by end-use applications, which include energy, information technology and telecommunications, consumer electronics, aerospace and defense, automotive, and healthcare and biotechnology. In 2020, the consumer electronics segment dominated the market share. Within this segment, glass wafers are employed in various applications such as mobile devices, wearables, augmented reality, imaging and projection technologies, as well as home and electrical appliances. In mobile devices and wearables, glass wafers serve multiple purposes, including acting as protective cover glass for displays, substrates for polymer lenses, and safeguarding the electronics and semiconductors within the devices, including integrated circuits.

In the imaging and projection sector, glass wafers are integral to high-end digital projectors and television displays, offering attributes like high transparency, heat resistance, and minimal thermal expansion. The proliferation of sensors in consumer electronic devices has also increased, with mobile devices now featuring numerous sensors that facilitate functionalities such as facial recognition for unlocking phones and applications in augmented reality.

Geographically, the glass wafer market is divided into regions including North America, Europe, Asia Pacific (APAC), South America (SAM), and the Middle East & Africa (MEA). As of 2019, the Asia Pacific region held the largest share of the global glass wafer market. The anticipated growth in demand for glass wafers in this region can be attributed to several factors, including rising consumer spending, improved living standards, and ongoing industrialization. Furthermore, the automotive sector's expansion, driven by increased demand for vehicles, is another key factor contributing to the growth of glass wafers in Asia Pacific. The rapid development of military and defense industries, along with heightened research and development activities by manufacturers, is also expected to significantly enhance the glass wafer market in this region. Asia Pacific is projected to experience the highest CAGR during the forecast period, largely due to increased governmental investments in its industrial sector.

The COVID-19 pandemic, which was first reported in Wuhan, China, in December 2020, has had a profound impact on global economies and industries. By January 2021, countries such as the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain were among the most affected in terms of confirmed cases and fatalities. According to the World Health Organization (WHO), there were approximately 83,322,449 confirmed cases and 1,831,412 total deaths worldwide as of January 2021. The pandemic has severely disrupted economies and industries due to lockdowns, travel restrictions, and business closures. The global chemicals and materials sector has been particularly hard hit, facing significant disruptions such as supply chain interruptions, cancellations of technology events, and office closures. Although China is a major manufacturing hub and a key supplier of raw materials, it has also been severely affected by the pandemic. The lockdown of various manufacturing plants in China has restricted global supply chains, disrupted manufacturing activities, and delayed product deliveries, leading to a decline in future sales for many companies. Additionally, international travel bans have hindered business collaborations and partnership opportunities, further impacting the chemicals and materials industry and posing challenges to the growth of related markets.

Key players in the global glass wafer market include SCHOTT AG, AGC Inc., Corning Incorporated, Plan Optik AG, Shin-Etsu Chemical Co., Ltd, Samtec, Inc., Bullen, Nippon Electric Glass, Swift Glass, and Coresix Precision Glass, Inc..

The overall size of the global glass wafer market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants in this research included industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the global glass wafer market.