ALBANY, New York, March 5, 2019
ALBANY, New York, March 5, 2019 /PRNewswire/ -- The global high purity quartz market bears a slightly consolidated vendor landscape, says Transparency Market Research (TMR) in a recently published report. This is solely because of the existence of small-scale vendors in the market. Sibelco, Momentive Performance Materials, Russian Quartz, Creswick Quartz, and The Quartz Corporation are the dominant players working in the global high purity quartz market.
Out of the various strategies adopted by players in the global high purity quartz market to hold a sizeable stakes in the market, capitalizing on the emerging opportunities and focusing on expertise for unveiling new products have gained popularity. The global high purity quartz market is expected to grow steadily due to the presence of highly established players who are concentrating on constant product improvement and expanding their product manufacturing portfolio. These players are also incorporating highly advanced comminution technology during processing high purity quartz. This process offers improved functionality, thereby making players stay abreast with the market's propensities and latest trends.
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According to experts from TMR, the global high purity quartz market stood at US$728.11 mn in 2017 and is expected to gain an impressive revenue by the end of 2026. Experts project this growth to occur at a promising CAGR of 6.4% during the forecast period from 2018 to 2026.
Among various applications in the global high purity quartz market, semiconductors accounts for a leading share in the market. This is also expected to boost the global high purity quartz market during the forecast period. This is because of an increasing demand from semiconductor industry for producing quartz glass, crucibles product, and semiconductor wafers. Region wise, Asia Pacific is expected to lead the global high purity quartz market in the coming years. This is attributed to flourishing solar and fabrication plants along with the semiconductor industry in the region.
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Rising Investments in Solar Industry to Boost Market Growth
High purity quartz is also known as HPQ, which is mainly distinguished by unexpectedly low concentrations of elements, and having less than 50 ppm of impurities. High quality quartz is extensively used in various high-tech, advanced industries such as microelectronics, semiconductors, optics and telecommunication, solar silicon, and high temperature lamp tubing. Owing to its various high-tech applications, this naturally occurring element is highly adopted in several industries. This factor is majorly driving the growth in the global high purity quartz market. Apart from technological applications, high purity quartz is also considered as a crucial raw material in the semiconductor industry. Rising number of fabrication plants, and growing demand for electronics and associated technological advancements are fueling demand in the global high purity quartz market too.
Furthermore, high purity quartz is accepted as a special feedstock in the solar industry. High purity quartz sand is mostly used as a raw material for producing crucibles used in solar industry. However, growing demand for manufacturing c-Si cells and silicon metal in solar industry, and rapid growth in solar photovoltaic devices across the globe is also boosting the global high purity quartz market.
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High Price of High Purity Quartz Hinders Market Growth
Some of the challenges hindering the growth of the global high purity quartz market are high prices of raw materials, lack of manufacturers in developing regions. Nonetheless, increasing demand for high purity quartz in making consumer durable products could offset most restraints affecting the market. Rising applications of high purity quartz in energy conversion solutions are believed to help industry players overcome these challenges in the near future.
The review is based on a market research report by TMR, "High Purity Quartz Market (Application - Semiconductors, Solar, Lightening, Optics, Others (Including Catalysts, Ceramics, Agrochemicals)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026".
The segmentation of global high purity quartz market is based on:
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