Growing Adoption of MEMs Technology to Escalate Glass Wafers Market Growth
According to our latest market study on “Glass Wafers Market Forecast to 2027 – COVID-19 Impact and Global Analysis – Application ( CMOS image sensor, Integrated Circuit (IC) Packaging, LED, Microfluidics, FO-WLP, and MEMs and RF ); End-Use ( Energy, IT and Telecommunication, Consumer Electronics, Aerospace and Defense, Automotive, and Healthcare and Biotechnology ),” the market was valued at US$ 295.48 million in 2020 and is projected to reach US$ 575.17 million by 2028; it is expected to grow at a CAGR of 8.5% from 2020 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
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.
The demand for MEMs around the world has been on the rise due to its applications in communication systems, automotive sensors, as well as portable medical devices. The miniature design of these MEMs makes them a suitable choice to be used in all electronic devices, which has increased the application of MEMs, thereby boosting the demand for MEMs in the semiconductor market. The glass wafers are mostly utilized for wafer packaging of sensitive components which is because of their superior functionality as well as their reliability to overcome harsh environments. These glass wafers are also used as carrier substrates due to their chemical resistance and thermal stability. The demand for portable medical equipment, which includes patient monitoring devices, has been on the rise due to the pandemic owing to the increased usage and demand by health workers across the world. The increased awareness among the consumers in the pandemic has increased the demand for personal monitoring devices which has led to an increase in demand for MEMs, which in turn has led to an increase in demand for glass wafers.
SCHOTT AG, AGC Inc., Corning Incorporated, Plan Optik AG, Shin-Etsu Chemical Co., Ltd, Samtec, Inc., Bullen, Nippon Electric Glass, Swift glass, Coresix Precision Glass, Inc are among the well-established players in the global glass wafers market.
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.
Report : Glass Wafer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (CMOS image sensor, Integrated Circuit (IC) Packaging, LED, Microfluidics, FO-WLP, and MEMs and RF) and End-Use (Energy, IT and Telecommunication, Consumer Electronics, Aerospace and Defense, Automotive, and Healthcare and Biotechnology)
The report includes the segmentation of the global Glass Wafers market as follows:Global Glass Wafers Market, by Application