Glass Wafer Market Revenue to Surpass USD 575.17 Million by 2027 at 8.5% CAGR: Global Analysis by The Insight Partners

Glass Wafers Market to Experience Significant Growth during the COVID-19 Pandemic, According to Recent Study

NEW YORK, UNITED STATES, April 28, 2023 /EINPresswire.com/ -- The scope of our recent study on the “Glass Wafers Market to 2027 – COVID-19 Impact and Global Analysis– by Application ( CMOS image sensor, Integrated Circuit (IC) Packaging, LED, Microfluidics, FO-WLP, MEMs and RF ); End-Use ( Energy, IT and Telecommunication, Consumer Electronics, Aerospace and Defense, Automotive, Healthcare and Biotechnology ),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

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The Glass Wafers market was valued at US$ 278.07 million in 2019 and is projected to reach US$ 524.31 million by 2027; it is expected to grow at a CAGR of 8.5% from 2020 to 2027. A glass wafer is a thin disc that is used as a base for manufacturing integrated circuits and for protection in consumer electronics. The glass wafer is usually made up of quartz, borosilicate glass, or fused silica. These wafers are used in a wide variety of industrial and technical applications. Borosilicate glass wafers provide a higher chemical stability against water or any other type of chemical. The rise in demand for compact and advanced consumer electronic devices is going to drive the growth of the glass wafer market. The increase in the demand for automotive electronics because of electric and hybrid vehicles, will lead to an increase in demand for glass wafers.

Based on application, the glass wafers market is categorized into CMOS image sensor, Integrated circuit (IC) packaging, LED, Memory, Microfluidics, and MEMs and RF. In 2019, the microfluidics segment held the largest share of the global glass wafers market. Microfluidics basically refers to the behavior, manipulation as well as precise control of fluids, which is constrained to a small scale. Microfluidics glass are usually made from glass wafer and other materials such as silicon. The glass wafer is used in microfluidics as it provides excellent thermal and chemicals resistance. It helps in providing a transparent microfluidics channel, which will help in observing and measuring it from all directions. This glass wafer microfluidics are used in healthcare and biotechnology sector for analytical chips that are used in DNA analyzer, microreactors for biochemical reaction, bioreactors for chemical sensors, and industrial gas detection sensors. The borosilicate glass wafer is mostly used as a substrate for microfluidics as it is perfectly suited for DNA, protein, and cell applications.

The global glass wafers market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East &Africa (MEA), and South America. In 2019, Asia-Pacific continent comprises several developing economies such as Japan, China, India, and South Korea, among others. Europe has matured aerospace and medical sector. Asia Pacific continent comprises several developing economies such as India, China, Japan, South Korea, and Australia, among others. These emerging countries are witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the glass wafer market. The glass wafer market in the countries of Asia Pacific has experienced a considerable shift over the years. The massive growth of the Asia Pacific region is due to a manufacturing base in the emerging economies, such as India, Japan, China, South Korea, Singapore, Taiwan, and Indonesia.

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Impact of COVID-19 Pandemic on Glass Wafers Market

The COVID-19 outbreak was first reported in Wuhan (China) during December 2020. As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the worst affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures updated on January 2021, there are ~83,322,449 confirmed cases and 1,831,412 total deaths globally. The outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. Although, China is the global manufacturing hub and largest raw material supplier for various industries, it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and disrupting the manufacturing activities, delivery schedules, and various chemicals and materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the chemicals & materials industry, thus restraining the growth of various markets related to this industry.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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