High purity quartz, also known as spectroscopic quartz, is one of the purest forms of silica or silicon dioxide available commercially with low levels of iron and other mineral inclusions. It is used across various industries like electronics and semiconductor, lighting, aerospace and defense and construction due to its superior properties such as high melting point, UV stability, low thermal expansion, and durability.
The global high purity quartz market is estimated to be valued at US$ 950.96 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growth Accelerated by Increasing Demand from Semiconductor Industry
High purity quartz iswitnessing strong growth on account of rising demand from the semiconductor industry. Semiconductor-grade high purity quartz is used in production of various semiconductor components like photovoltaic cells, wafers, and ingots as it helps in achieving uniform crystal structure and preventing contamination. Rising adoption of consumer electronics coupled with proliferation of technologies like 5G, IoT and green energy is fueling the semiconductor industry worldwide. This in turn is boosting consumption of high purity quartz significantly. For instance, quartz crucibles which are used in Czochralski crystal growth process require extremely high purity levels of around 99.9995% SiO2. Thus, increasing demand for semiconductors especially from electronics and photovoltaics industry is a key growth driver for the high purity quartz market.
Segment Analysis
The global high purity quartz market is dominated by the electronics and semiconductor sub-segment. This is because high purity quartz having purity levels up to 99.99% or above is used as a key raw material in the production of silicon wafers which form the base of electronic chips and circuits. The increasing demand of electronic products like smartphones, laptops, and other gadgets is driving the demand of silicon wafers manufactured using high purity quartz.
Key Takeaways
The global High Purity Quartz Market Share is expected to witness high growth. The global high purity quartz market is estimated to be valued at US$ 950.96 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.
Regional analysis shows that Asia Pacific region currently dominates the market and is expected to continue its dominance over the forecast period. This is because countries like China, South Korea, Taiwan, Japan and India have established dominance in the production of electronic goods and semiconductor manufacturing which are key end use industries of high purity quartz. These countries dominate the world's production of electronic goods as well as semiconductor chips. The growing demand for electronics from burgeoning middle class populations in countries like India is also driving the growth of semiconductor manufacturing in the region and subsequent demand of high purity quartz.
Key players related content comprises
Key players operating in the high purity quartz market are Unimin Corp. /Sibelco, The Quartz Corp., Russian Quartz LLC – Kyshtym Mining – Sumitomo, Jiangsu Pacific Quartz Co., Nordic Mining, and High Purity Quartz Pty Ltd. Unimin Corp. /Sibelco leads the market with largest reserves and production capacity of high purity quartz worldwide. The Quartz Corp. caters to the demand from semiconductor and solar industries.
For more insights, read- https://www.ukwebwire.com/high-purity-quartz-market-trends-size-and-share-analysis/
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