Asia Pacific Glass Wafers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Application, Packaging, End Use

The glass wafers market in Asia Pacific is expected to grow from US$ 186.83 million in 2020 to US$ 384.27 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028. The exponential growth in the industrial sector, including automotive, medical, and others, has influenced the demand for glass wafers. Asia is one of the leading electrical and electronics manufacturing regions. China is mainly dominating the regional market, followed by other countries such as Japan, Taiwan, Vietnam, Korea, Thailand, Malaysia, and Indonesia. These countries are experiencing rising demand for semiconductors, electronics, and automobiles, among others. Likewise, the automotive sector's growth in the region will also provide lucrative opportunities for the glass wafers market. China has been a dominant region for glass wafers due to its rising electronics and semiconductor industry. According to the Semiconductor Industry Association, Asia Pacific has more than 80% of the world’s semiconductor production capacity. This subsequently increased commercial vehicle manufacturing in the region. The government of China supports the semiconductor industry and focuses on self-sufficiency of chip making, which will increase the demand for glass wafers in the region. Major players in the glass wafer market are highly focusing on innovations. Major companies are investing heavily in the R&D and are continuously striving to expand their presence to gain more operating margin.

Asia Pacific, especially India, witnessed an unprecedented rise in number of COVID-19 cases, which led to the discontinuation of glass wafers manufacturing activities; other glass components manufacturing sector has subsequently impacted the demand for glass wafers during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of glass equipment manufacturing projects, thereby reducing the demand for glass wafers. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China, Australia, and South Korea. However, the countries are likely to overcome the drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.

The consumer electronics segment led the glass wafers market based on end use in 2020. In the consumer electronics segment, glass wafer is basically used in sectors such as mobile devices and wearables, augmented reality, imaging and projection, and home and electrical appliances. In the mobile device and wearable sector, glass wafers have been used for the protection of the cover glass for display purposes. Glass wafers acts as a substrate for polymer lenses, cover glasses for image sensors, and is used for protecting the electronics and semiconductors present inside the device as well as protecting the integrated circuit. In imaging and projection glass wafers are used in high-end digital projectors, as well as in TV and imaging display as they offer high transparency, heat resistance, and low thermal expansion. The use of sensors in consumer electronic devices has increased. The number of sensors in mobile devices have increased. It is used in unlocking the phones with facial recognition, augmented reality, and many more. The glass wafers are used to in order to make sensing applications, which include refractive and diffractive optical elements and lightguides.

The overall Asia Pacific glass wafers market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Asia Pacific glass wafers market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific glass wafers market. Schott AG, AGC Inc., Corning Incorporated, Plan Optik AG, Bullen, Nippon Electric Glass, Samtec Inc., and Shin-Etsu Chemical Co., Ltd. are among the key players operating in the Asia Pacific glass wafers market.

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