Wilmington, Delaware, United States, July 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global high-purity quartz market is projected to flourish at a CAGR of 6.3% from 2021 to 2031. As per the report published by TMR, a valuation of US$ 1.5 billion is anticipated for the market in 2031. In 2022, the market for high-purity quartz was valued at US$ 894.6 million.
With the increasing demand for advanced electronics and the growth of technologies like 5G, the demand for high-purity quartz in the semiconductor industry is expected to rise. The growing adoption of solar energy as a renewable energy source drives the demand for high-purity quartz in the solar industry. As the solar energy market expands, the demand for high-quality and low-impurity quartz for solar panels is expected to increase.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 894.6 Mn | |
| Estimated Value | US$ 1.5 Bn | |
| Growth Rate - CAGR | 6.3% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 342 Pages | |
| Market Segmentation | Form, Purity, Application | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | The Quartz Corporation, Sibelco, Jiangsu Pacific Quartz Co., Ltd., Creswick Quartz, Nordic Mining ASA, Momentive Performance Materials Inc., Australian Silica Quartz Group Ltd., Fineton Development Limited, Solar Quartz Technologies, Covia Holdings Corporation, Russian Quartz LLC, and I-Minerals Inc | |
Rising demand for high purity quartz in the electronics industry, such as optical fibers, quartz resonators, and high-temperature lamps. The continuous advancement of electronics and telecommunications industries, including the demand for optical communication networks and advanced electronic devices, fuels the demand for high purity quartz.
Technological advancements in processing techniques have enabled the production of high purity quartz with even lower levels of impurities. Improved purification methods, such as acid leaching and thermal treatment, contribute to the availability of higher purity quartz and expand its potential applications.
Competitive Landscape
The leading players in the high-purity quartz market are investing in research & development activities to increase their market share. Transparency Market Research has profiled the following players in its global high-purity quartz market report:
The Quartz Corporation, Sibelco, Jiangsu Pacific Quartz Co., Ltd., Creswick Quartz, Nordic Mining ASA, Momentive Performance Materials Inc., Australian Silica Quartz Group Ltd., Fineton Development Limited, Solar Quartz Technologies, Covia Holdings Corporation, Russian Quartz LLC, and I-Minerals Inc.
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Key Takeaways from the Market Report
- As of 2023, the high-purity quartz market is forecast to reach US$ 943.5 million
- By form, the powder segment is expected to remain high during the forecast period.
- Based on purity, the high purity (SIO2- 99.99%) segment is expected to account for a significant market share
- By Application, the Semiconductor segment is expected to generate high revenue during the forecast period.
High Purity Quartz Market: Prominent Drivers and Trends
- Increased usage of high-purity quartz in the manufacturing of crucible and quartz glass products and increasing application in the semiconductor sector are creating opportunities for bitumen market growth.
- An Increased number of photovoltaic installations and surging solar installations the demand for high-purity quartz increases.
- Rapid infrastructure development and urbanization in emerging economies drive the demand for high-purity quartz.
- Manufacturers are focusing on developing advanced processing technology to improve the quality and consistency of the product
High Purity Quartz Market – Regional Analysis
- Asia Pacific is a prominent market for high-purity quartz, driven by factors such as rapid industrialization, infrastructure development, and the presence of major electronics and semiconductor manufacturing hubs. The region's expanding electronics, semiconductor, and solar industries drive the demand for high-purity quartz.
- North America is a significant market for high-purity quartz, primarily driven by the presence of a robust semiconductor and solar industry. The United States, in particular, is a major contributor to the market. The region's focus on technological advancements, research and development activities, and the increasing adoption of renewable energy sources drive the demand for high-purity quartz.
Key Developments
- Sibelco, a global minerals and materials company, has made advancements in the high-purity quartz market. They have focused on expanding their product portfolio to offer high-purity quartz products with customized specifications to meet specific customer requirements. Sibelco has also invested in research and development to improve processing techniques and enhance the purity levels of their high-purity quartz products.
- I-Minerals Inc. has been actively involved in the high-purity quartz market, particularly in North America. They have focused on the exploration and development of high-purity quartz deposits, including the evaluation of new sources and the optimization of extraction and processing methods. I-Minerals Inc. has also worked on expanding its customer base and forging strategic partnerships to strengthen its position in the high-purity quartz market.
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High Purity Quartz Market- Segmentation
Form
- Powder
- Granules
- Others (Quartz Chips)
Purity
- Intermediate (SiO2 - 99.95%)
- High (SiO2 - 99.99%)
- Ultrahigh (SiO2 - 99.997%)
- Hyper (SiO2 - 99.999%)
Application
- Semiconductors
- Solar
- Lighting
- Optics
- Others (Catalysts, Ceramics, and Agrochemicals)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
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