Wilmington, Delaware, United States, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global quartz market is estimated to flourish at a CAGR of 6.6% from 2021 to 2031. Transparency Market Research projects that the overall sales revenue for quartz is estimated to reach US$ 12.9 billion by the end of 2031. Growing concerns regarding hygiene and safety propel the demand for non-porous quartz surfaces, particularly in healthcare and food service sectors. The inherent antimicrobial properties of quartz attract attention for surfaces requiring stringent sanitation standards.
Increased consumer desire for personalized interiors and unique designs fuels the demand for customizable quartz surfaces. Manufacturers catering to this trend offer a wide range of colors, patterns, and finishes, meeting diverse aesthetic preferences. Rapid urbanization, especially in emerging economies across Asia Pacific and Latin America, drives the need for durable and aesthetically appealing surfaces in compact living spaces, boosting quartz demand in urban residential developments.
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Evolving lifestyles and a preference for luxurious yet practical surfaces influence the uptake of quartz in interior design. The material's versatility, resilience, and elegant appearance align with evolving consumer tastes, driving market growth. Quartz surfaces find new applications beyond traditional use in kitchens and bathrooms. Their utilization in furniture, decorative panels, and exterior cladding expands market potential, tapping into diverse industries and niches, thus fueling growth.
Quartz Market: Competitive Landscape
The quartz market boasts a competitive landscape defined by key players such as Caesarstone, Cosentino, and Cambria, renowned for their engineered quartz surfaces. These industry giants continually innovate, offering premium quality, durability, and diverse designs.
Emerging players like HanStone Quartz and LG Hausys also contribute, leveraging technological advancements for superior products. Additionally, regional manufacturers in Asia-Pacific, including Pokarna Limited and Asian Granito India Limited, augment market competition with cost-effective solutions.
With a focus on R&D, product differentiation, and global expansion, the quartz market witnesses intense rivalry, fostering innovation, and delivering an array of high-performance quartz surfaces catering to diverse consumer preferences worldwide. Some prominent manufacturers are as follows:
- The Quartz Corporation
- Quality Quartz Engineering
- Saint Gobain Group
- Murata Manufacturing Co. Ltd.
- Kyocera Corporation
- TXC Corporation
- Abrisa Technologies
- Swift Glass Co. Inc.
- Industrial Quartz Corporation
- Caesarstone Ltd.
Key Findings of the Market Report
- Engineered quartz stones lead the quartz market due to their versatile applications, durability, and aesthetic appeal in various construction and design projects.
- The building & construction segment leads the quartz market, driven by increased demand for durable and aesthetically pleasing surfaces.
- North America emerges as the leading region in the quartz market, driven by strong demand for high quality and innovative surfaces.
Quartz Market Growth Drivers & Trends
- Increased remodeling activities in residential spaces globally drive demand for durable and aesthetically pleasing quartz surfaces, boosting market growth.
- Growing infrastructural projects, especially in commercial spaces, fuel demand for resilient and stylish quartz surfaces, propelling market growth.
- Consumer inclination towards low-maintenance surfaces in kitchens and bathrooms fuels the popularity of quartz due to its durability and easy-care nature.
- Ongoing innovations in quartz manufacturing processes lead to enhanced designs, textures, and sustainability, driving market expansion and consumer adoption.
- Rising awareness regarding sustainable materials encourages the adoption of eco-friendly quartz surfaces, with companies emphasizing green practices to meet evolving consumer preferences.
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Global Quartz Market: Regional Profile
- North America, led by the United States, stands as a significant market for quartz surfaces. Industry leaders like Caesarstone and Cambria dominate, emphasizing premium quality, innovative designs, and sustainable practices to cater to discerning consumers seeking durable, aesthetically pleasing surfaces.
- Europe shows a robust quartz market, particularly in countries like Italy and Spain. Companies such as Cosentino and Compac lead innovation, offering diverse designs and superior-quality quartz surfaces, aligning with the region's architectural and interior design preferences.
- The Asia Pacific region demonstrates rapid growth potential, led by emerging markets in China, India, and Southeast Asia. Local manufacturers like Pokarna Limited and Asian Granito India Limited focus on cost-effective yet high-quality quartz solutions, capturing market share by addressing varied consumer demands and expanding infrastructure projects.
Product Portfolio
- TXC Corporation offers an extensive product portfolio encompassing high-quality electronic components and precision frequency control devices. Their range includes crystal oscillators, filters, and resonators, catering to diverse industries, ensuring reliability, and fostering technological advancements in the realm of frequency control solutions.
- Abrisa Technologies specializes in providing precision glass solutions. Their product portfolio comprises custom glass fabrication, thin film coatings, and display enhancement solutions. With a focus on innovation, they cater to industries requiring advanced glass technologies for optimal performance and functionality in various applications.
- Swift Glass Co., Inc. is a prominent provider of custom glass fabrication solutions. Their diverse product portfolio includes precision-cut glass, specialty glass, and intricate glass components, meeting stringent quality standards. With expertise spanning various industries, they ensure precision and excellence in glass manufacturing for diverse applications.
Quartz Market: Key Segments
By Type
- Engineered Quartz Stones
- Quartz Sand
- Quartz Pebbles
- Quartz Crystals
- Others (Quartz Glass and Fused Quartz Crucibles)
By End-Use Industry
- Building & Construction
- Medical
- Semiconductor
- Solar
- Optical Fiber & Telecommunication
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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