PORTLAND, Ore., Feb. 24, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global quartz market accounted for $8.23 billion in 2018 and is expected to garner $13.61 billion by 2026, growing at a CAGR of 6.4% from 2019 to 2026.
Increase in use of quartz for pounding glass, sandblasting and cutting delicate stones and technological advancements have boosted the growth of the global quartz market. However, its expensive nature hampers the market. On the contrary, surge in usage as oscillators in watches & radios and increase in R&D activities are expected to create lucrative opportunities in the near future.
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The global quartz market is divided on the basis of products, end-user industry, and geography. Based on product, the market is segmented into quartz surface & tile, high-purity quartz, quartz glass, quartz crystal, quartz sand, and other. The high-purity quartz segment is expected to manifest the fastest CAGR of 7.9% from 2019 to 2026. However, the quartz surface and tilt segment held the largest share in 2018, accounting for nearly two-fifths of the market, due to surge in use in semiconductors, fiber optics, and solar applications.
On the basis of end-user industry, the market is categorized into electronics & semiconductor, solar, buildings & construction, medical, optics & telecommunication, and other. The electronics and semiconductor segment dominated the market in 2018, contributing more than one-fourth of the market. However, the building and construction segment is anticipated to portray the fastest CAGR of 7.9% from 2019 to 2026. This is due to increase in construction activities and use of quartz in stonework dividers.
The global quartz market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to register the highest CAGR of 7.1% from 2019 to 2026. However, the market across North America held the largest share in 2018, accounting for nearly two-fifths of the market. This is due to increase in demand for electronics and surge in installation of PV solar cells.
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The global quartz market report includes an in-depth analysis of the major market players such as Baba Quartz, Momentive, QQE, Creswick Quartz, Saint-Gobain, High Purity Quartz Pty Ltd., Quartz Corporation, Caeserstone, and DuPont.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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