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Sapphire Ingot Market
Sapphire ingot is a crystalline form of Al2O3. Sapphire ingot also known as corundum, as it is belongs to the ditrigonal-scalenohedral class of the trigonal symmetry. Sapphire ingot is produced from alumina. Sapphire ingot is considered to be a multifunctional material, as it possesses various properties such as high corrosion and radiation resistance, good thermal conductivity, high mechanical strength, high hardness, low thermal expansion coefficient and high biological compatibility. Sapphire ingot has been widely used in aerospace and defence field, such as laser window, wave-transmitting window, optoelectronic tracker, guard plate, durable bearing, pressure sensor, gyroscope, optronic masts, IR security system, etc.
The increasing spend on electronic devices across all demographics such as mobile phones, laptops and other is considered to be the major factor in positively influencing the market of the sapphire ingot. Sapphire ingot is widely consumed in the manufacturing of screens for mobile phone, laptop and other display-oriented gadgets. Sapphire ingot offer production yields and quality of the final product, both in LED’s and consumer electronics with high durability, heat and corrosion resistance owing to which demand for sapphire ingot is surging at a significant level from electronics industry. Furthermore, the automotive production is another sector which is propelling the demand for sapphire ingot as it is widely consumed for general lightening and LED back lightening purpose in automotive vehicles. Moreover, Sapphire ingot is also used in the fabrication of window films in for fighter jets and commercial planes which results in creating a positive impact on the sapphire ingot market. Sapphire ingot is widely consumed in the formation of braces, light pipes in the medical industry which further leads in boosting the demand for sapphire ingot.
The upcoming growth prospects for Sapphire Ingot is expected to obtain from the increasing demand for product penetration in the LED application. Sapphire Ingot is expected to have significant growth in the coming year on the account of mounting product demand for the lightening in infrastructural activities such commercial buildings, residential building and others which also create a noteworthy impact on the market of Sapphire Ingot. However, due to instability in the price of raw material for the production of Sapphire Ingot which may obstruct the market growth where the manufacturer may opt cheaper substitutes to fulfil their requirements.
The global Sapphire Ingot market is considered to be concentrated market due to the presence of mainly international players in the sapphire ingot market. Additionally, increasing inclination of the end-use industry toward sapphire ingot create a positive impact on the sapphire ingot market.
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East Asia and South Asia are expected to hold the significant market share of sapphire ingot due to increasing demand for electronic gadgets among consumers. Countries of Asia Pacific region such as India and China is expected to represent lucrative growth in sapphire ingot market owing to increasing demand for LED's in automotive and other end-use industry. whereas North America and Europe are anticipated to show moderate growth in the sapphire ingot market due to maturation in the market as well as strict government regulation regarding the mining of natural resources. While in Latin America and the Middle East & Africa embraces a slothful growth in the sapphire ingot market due to less of the presence of manufacturer along with slow growth in end-use industry.
Some of the key market participants in the market of Sapphire Ingot are as follows:-
The Sapphire Ingot Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with Sapphire Ingot market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.