iCrowd Newswire – Jun 5, 2020
Abundant availability and wide range applications of quartz is expected to escalate the quartz market at a CAGR of 6.2%
Latest market study on “Global Quartz Market to 2027 – Analysis and Forecasts Product (Quartz Surface and Tile, High-Purity Quartz, Quartz Glass, Quartz Crystal, Quartz Sand, Others); End-User Industry (Electronics and Semiconductor, Solar, Buildings and Construction, Medical, Optics and Telecommunication, Others), and Geography”, The global quartz market was valued at US$ 8,037.0 Mn in 2018 and is projected to be worth US$ 13,762.6 Mn by 2027; it is expected to grow at a CAGR of 6.2% during the forecast period. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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Quartz is a mineral form of SiO2 stable at low temperatures and pressures. It is found in igneous, sedimentary, metamorphic, and hydrothermal mineral environments, mainly in continental regions. It is highly resistant to mechanical and chemical weathering, and the high durability makes it the dominant mineral of mountaintops and the primary constituent of river, beach, and desert sand. Based on the end-use industry, the quartz market has been segmented into electronics and semiconductors, solar, buildings and construction, medical, optics and telecommunication and others. In 2018, the electronics and semiconductor segment led the quartz market with a share of 27.5% and is expected to continue its dominance during the forecast period. The physical properties of quartz such as hardness, chemical purity, resistance to high temperatures and corrosion, and electrical insulation make it an ideal component in the manufacture of semiconductors. High purity quartz (HPQ) is widely used in consumer goods such as TVs, ACs, laptops, smartphones, and others. It is treated as an integral component in the solar and semiconductor industry. Thus the increasing utilization of quartz in these industries is anticipated to drive the market during the forecast period.
In 2018, APAC held the largest share of the global quartz market. The largest market share of this region is primarily attributed to the presence of major quartz manufacturers in the region. Increasing demand for quartz from the electronics industry in developed and developing countries in the APAC countries such as China, Japan, South Korea, and India is propelling the growth of the quartz market in APAC. Furthermore, the well-established building and construction sector in the Asian countries provides a huge market opportunity for the key players operating in the quartz market. The quartz and quartz products produced in Asian countries, such as China and India, are mainly exported to the US, Germany, and France. This further provides a huge customer base for quartz products manufactured in APAC.
The market for global quartz is concentrated with some very well-established players. Some of the key players in the global quartz market are Baba Quartz, Quality Quartz Engineering, Momentive, Quartz Corporation, Creswick Quartz, Saint Gobain S.A., Dupont, Sibelco NV, Thermofisher Scientific, and Caesarstone Ltd. among others.
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The report segments the global quartz market as follows:
Global Quartz Market – By Product
- Quartz Surface and Tile
- High-Purity Quartz
- Quartz Glass
- Quartz Crystal
- Quartz Sand
Global Quartz Market – By End-User Industry
- Electronics and Semiconductor
- Buildings and Construction
- Optics and Telecommunication
Rising Demand for Synthetic Quartz is expected to boost the quartz market globally
Synthetic quartz offers various beneficial properties such as resistance to acids, corrosion, high temperatures, impact, wear, compression, bending, and infiltration. Therefore, it is extensively used in the electronics and semiconductor industry. Synthetic quartz is most prominently used in optical components that are used in wavelength lasers of microlithography projection systems. The optical components made of synthetic quartz are used to transmit high-energy ultraviolet laser radiation for producing large-scale integrated circuits. Synthetic quartz components are highly resistant to laser, which makes them suitable for high-power or short-wavelength lasers. Synthetic quartz is also used to manufacture crucibles that pull single crystal silicon used to produce semiconductor devices and solar cells. High purity quartz is further used for single crystal ingots from silicon metal in the solar industry. Currently, most of the quartz crystals used in optical instruments and electronic components are produced in laboratories instead of extracting from mines. Therefore, the easy availability of synthetic quartz and its application in various industries, such as electronics & electrical, automotive, and construction, are among the factors boosting the demand for synthetic quartz and impacting the quartz market globally.
On the basis of product, the global quartz market has been segmented into quartz surface and tile, high-purity quartz, quartz glass, quartz crystal, quartz sand, and others. Under the products segment, the quartz surface and tile market led to the global quartz market. Moreover, the high-purity quartz segment is anticipated to register the fastest CAGR over the projected period. High purity quartz (HPQ) has a negligible amount of impurities and is produced with more than 99% silicon dioxide. HPQ is used in industries such as semiconductor, solar, fiber optics, and lighting. High purity fused quartz is made from high purity quartz and offers a wide range of optical, mechanical, and thermal properties that are essential for manufacturing various high-tech products. Growing demand for high purity quartz from the semiconductor industry is the primary factor driving its demand globally. In the semiconductor industry, HPQ is used for applications such as in the production of tubes, crucibles, and rods.
Contact Person: Sameer Joshi
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