The high purity quartz market is estimated to be valued at US$ 952 Mn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2020-2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

High purity quartz, also known as silicon dioxide, is a mineral form of silicon dioxide (SiO2) that has a minimum silica content of 99.9%. It finds wide application in various industries such as electronics and semiconductor, solar, buildings and construction, and optics and fiber optics, owing to its excellent properties such as high melting point, thermal shock resistance, and purity. Quartz is the primary component used in manufacturing of crucibles and molds required in the electronics and solar industries.

 

Market Dynamics:

Increasing demand from the electronics industry is a major factor driving growth of the global high purity quartz market. High purity quartz is extensively used in manufacturing of crucibles and molds required in the electronics industry for growing silicon ingots and crystals. Growing demand for smartphones, consumer electronics, and other electronic products globally has augmented the demand for high purity quartz significantly over the years. Furthermore, growing focus on solar grade quartz is also expected to propel the market growth over the forecast period. Solar grade quartz has high purity levels of at least 99.99% and finds application in manufacturing of various critical components used in photovoltaic cells and modules. However, presence of substitute products including borosilicate glass may hinder the market growth in the near future.

That concludes the market overview and market dynamics section for the high purity quartz market research report. Please let me know if you need any clarification or have additional requirements.
 

Segment Analysis

The high purity quartz market is dominated by the microelectronics segment, accounting for nearly 40% share of the overall market. High purity quartz, also known as fused silica, is extensively used in components manufacturing for semi-conductors and integrated circuits as its purity levels are higher than conventional electronics-grade silicon. Properties such as high heat resistance and dimensional stability contribute to the growing demand from the microelectronics segment.

 

PEST Analysis

Political: The market is highly dependent on regulations related to pollution control and mining activities. Favorable policies around electronics and semi-conductor manufacturing could boost demand.
Economic: As global economic activities pick up post-COVID, industries relying on high purity quartz such as microelectronics and solar are expected to recover swiftly, driving market growth.
Social: Increasing digitization and proliferation of consumer electronics are positively impacting the market. Growing solar power adoption to meet renewable energy goals also presents opportunities.
Technological: Advancements in semi-conductor fabrication processes requiring newer grades of high purity quartz coupled with innovations in production technologies could expand market scope over the forecast period.

 

Key Takeaways

The Global High Purity Quartz Market Growth is expected to witness high growth, exhibiting CAGR of 8.5% over the forecast period, due to increasing demand from the microelectronics industry for manufacturing chips and displays. The market was valued at US$ 695.4 million in 2019.

Regionally, Asia Pacific dominated the market in 2019 with over 40% share primarily due to robust microelectronics industries in various countries including China, South Korea, Taiwan and Japan. Europe and North America are other major markets driven by solar and technology industries.

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. and others. Strategic investments and expansion of production capacities, especially in Asia, have been some of the focus areas for key players to cater to the growing demand.

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