Wafer Glass Market is Expected to Grow at a Consistent CAGR of 18.5%, Reaching US$ 1.6 Billion by 2032 - Transparency Market Research, Inc.

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Dec 12, 2022, 10:30 ET

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Usage of image sensors in ADAS systems in automobiles is becoming more prevalent, which is likely to drive the image sensors segment

WILMINGTON, DEL., Dec. 12, 2022 /PRNewswire/ -- The global wafer glass market was valued at US$ 312.6 Mn in 2021. Market forecast estimate industry growth at a CAGR of 18.5% during the forecast period. The global industry is expected to reach US$ 1.6 Bn by 2031. The global wafer glass market is expected to be driven by increase in demand in image sensors and microelectronic mechanical systems (MEMS). Introduction and advancement of Internet of Things, is anticipated to present considerable opportunities for players in the semiconductor glass wafers industry.

Wafer-level packaging is displacing standard individual-piece packaging, and has gained popularity in the past few years. Consequently, the need for glass as a carrier substrate in packaging has increased, which in turn is expected to fuel market development in the next few years. Major wafer glass producers are concentrating on making products with diameters ranging from 25 mm to 300 mm in order to capitalize on the attractive growth potential. This is ascribed to increasing usage of MEMS and image sensors in applications that require glass wafers of these physical dimensions.

Glass wafers are superior to silicon wafers in a number of ways, including improved warp management, minimal electrical loss, and promising process optimization. Wafer glass is utilized in wafer packing, TGV interposers, and substrate carriers. Rise in demand for glass wafer fabrication to meet the increasing usage of substrate carriers and wafer packaging in consumer electronics and microelectronic mechanical systems (MEMS) is anticipated to fuel market demand in the near future.

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Key Findings of Market Report

In terms of wafer type, the borosilicate segment commanded 46.7% market share in 2021. The trend is expected to continue throughout the forecast period. The strength and durability of borosilicate glass makes it suitable for usage in various applications. Compared to other types of wafer glass, it is more affordable, which is expected to drive industry growth.
In terms of end use, the image sensors segment led the global market, with 38.2% share in 2021. Rise in usage of image sensors in smartphones, TVs, tablets, surveillance cameras, and computers is likely to propel the segment in the next few years.

Global Wafer Glass Market: Growth Opportunities

Growth of the automotive and consumer electronics industries has led to breakthroughs in glass wafer production that is increasingly helping to enhance MEMS technology. Hence, glass wafer are frequently employed as substrate carriers in various consumer electronic products and wafer packaging for MEMS. Wafer glass usage is projected to increase throughout the forecast period due to expansion in consumer electronics.
MEMS sensors have a wide range of applications in the automobile industry, such as in navigation systems, tire pressure monitoring systems, rollover detection, pedestrian protection, and exhaust gas recirculation. Sales of electric vehicles, including plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs), grew in 2020 despite a struggling automobile industry. Sales steadily increased to 6.6 million in 2021. Hence, growth of the automotive industry has increased the need for MEMS devices, which in turn is likely to accelerate business growth.

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Global Wafer Glass Market: Regional Landscape

Asia Pacific led the global market, with 70.1% share in 2021. The region's growth is attributed to the presence of large number of end users of glass wafers, high expertise of local players, and high wafer production capabilities. Japan and China are expected to account for a sizeable share of the market in Asia Pacific during the forecast period. The market in the region is anticipated to be driven by rise in usage in computing devices and smartphones as well as increase in adoption of autonomous vehicles.
North America accounted for 15.3% share of the global market in 2021. The market in the region is anticipated to grow rapidly during the forecast period due to increasing R&D activities in the U.S. and government initiatives to expand the semiconductor industry.

Global Wafer Glass Market: Key Players

Plan Optik AG
Shin-Etsu Chemical Co., Ltd
Coresix Precision Glass, Inc.
SCHOTT AG
Nippon Electric Glass
Swift Glass

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Global Wafer Glass Market: Segmentation

Wafer Type

Quartz
Silica
Borosilicate
Others

Wafer Diameter

Up to 100 mm
125 mm
150 mm
200 mm
300 mm
Above 300 mm

Application

Wafer Packaging
Substrate Carrier
TGV Interposer

End Use

MEMS
Image Sensors
Semiconductors
Others

Industry Vertical

Automotive
Consumer Electronics
IT & Telecommunication
Others

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