Covina, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Quartz are mineral in Earth’s crust and refers to a specific chemical compound such as silicon dioxide or silica. Quartz are physically and chemically resistant to weathering and are found in all forms of rock: igneous, metamorphic and sedimentary.
Increasing demand for production of solar PV cells has provided lucrative opportunities in target market growth. Additionally, the growth in demand for high-purity quartz in the semiconductor industry is growing rapidly such factor boost the target market growth. Furthermore, the developing technologies in the advance of quartz crystal are likely to act as an opportunity in the near future.
Quartz Market accounted for US$ 9.4 billion in 2020 and is estimated to be US$ 17.50 billion by 2030 and is anticipated to register a CAGR of 6.5%. The Global Quartz Market is segmented based on Type, End-user and Region.
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Key Highlights:
- In June 2022, Tata Consultancy Services (TCS) announced that its new launched “Quartz” was named as the ‘Best New Post Trade Solution’ at 2022 FTF News Technology Innovation Awards. The Quartz offering includes, end-to-end services around tokenized securities to MIIs (Market Infrastructure Institutions).
The key factors driving the growth of the quartz market include:
- Increasing demand from the electronics and semiconductor industry: Quartz is used in a wide range of electronic and semiconductor products, such as oscillators, filters, and resonators. The growing demand for these products is driving the demand for quartz.
- Rising demand from the construction industry: Quartz is used in a variety of construction applications, such as countertops, tiles, and flooring. The growing construction activity around the world is driving the demand for quartz in the construction industry.
- Growing awareness of the benefits of quartz: Quartz is a durable, low-maintenance, and aesthetically pleasing material. It is also resistant to heat, stains, and scratches. These benefits are making quartz increasingly popular among consumers and businesses alike.
Analyst View:
Growing demand from end-user industries, as well as electronics, building and construction, and the medical sector. Presence of major players and growing market consolidation activities across globe to strengthen its position in market is expected to boost the demand for Quartz market growth.
Competitive Landscape & their strategies of Global Quartz Market:
The prominent players operating in the Global Quartz Market includes, Beijing Kaide Quartz Co. Ltd., Sibelco (Unimin Corporation), Donghai Shihu Quartz, Alicante Surfaces Pvt. Ltd, The QUARTZ corp., Technostone, HanStone Quartz, Essem Metachem, High Purity Quartz Pty Ltd, HPQ Silicon, Jiangsu Pacific Quartz Co. Ltd, Nordic Mining ASA, Pokarna Limited, Russian Quartz (RUSNANO), Mitsubishi Corporation.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Key Market Insights from the report:
- Based on Type, Global Quartz Market is segmented into Quartz Surface & Tile, High Purity Quartz, Fused Quartz Crucible, Quartz Glass, Quartz Crystal, Quartz Sand, Plastic Foam & Other Types.
- Based on End-user, Global Quartz Market is segmented into Electronics & Semiconductor, Solar Industry, Buildings & Construction, Medical Industry, Optics & Telecommunication & Others.
- By Region, the Global Quartz Market is segmented into North America, Europe, Asian Pacific, Latin America, Middle East & Africa.
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