Monocrystal Reports 50 Percent Market Share
55 million two inch equivalents delivered to the LED market in 2017
Monocrystal, a company that grows and processes synthetic sapphire, has announced results for 2017 and plans for 2018.
2017 was another year of sustainable growth for Monocrystal, according to the company. The company delivered 55 million two-inch equivalent (TIE) sapphire products to the LED market. According to Yole Developpement’s latest report, “Sapphire Market 2016 Substrates and Consumer Electronic Applications", sapphire for the LED market value reached 110 million TIE, which corresponds to Monocrystal’s share of 50 percent in this segment.
“2017 was a year of rapid growth for the LED industry, and most of our clients significantly expanded their production. Monocrystal successfully accomplished a challenging 70 percent capacity increase and provided all the requested volume to its customers. This contributes to a secure execution of our customers’ expansion plans, which is crucial for obtaining leading positions on the highly competitive LED market," Monocrystal’s CEO Oleg Kachalov commented.
“This year we will continue to build upon the momentum in the LED industry. For this purpose, we are planning to add 50 percent to our capacities. With the top-class products at our disposal, we are ready to help our customers meet their ambitious targets in 2018 in a smooth and efficient manner," Monocrystal’s VP sales Mikhail Berest added.
Monocrystal is a part of the industrial group of companies Energomera, supplying sapphire products for LED and metallisation pastes for solar industries. According to the company’s estimates, every second LED and every tenth solar module in the world is made with Monocrystal products.