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| High Purity Quartz Market |
High purity quartz, also known as spectroscopic quartz, is one of the purest forms
of silica or silicon dioxide available commercially with low levels of iron and
other mineral inclusions. It is used across various industries like electronics
and semiconductor, lighting, aerospace and defense and construction due to its
superior properties such as high melting point, UV stability, low thermal
expansion, and durability.
The global
high purity quartz market is estimated to be valued at US$ 950.96 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Growth Accelerated by Increasing Demand from Semiconductor Industry
High purity quartz iswitnessing strong growth on account of rising demand from
the semiconductor industry. Semiconductor-grade high purity quartz is used in
production of various semiconductor components like photovoltaic cells, wafers,
and ingots as it helps in achieving uniform crystal structure and preventing
contamination. Rising adoption of consumer electronics coupled with
proliferation of technologies like 5G, IoT and green energy is fueling the
semiconductor industry worldwide. This in turn is boosting consumption of high
purity quartz significantly. For instance, quartz crucibles which are used in
Czochralski crystal growth process require extremely high purity levels of
around 99.9995% SiO2. Thus, increasing demand for semiconductors especially
from electronics and photovoltaics industry is a key growth driver for the high
purity quartz market.
Segment Analysis
The global high purity quartz market is dominated by the electronics and
semiconductor sub-segment. This is because high purity quartz having purity
levels up to 99.99% or above is used as a key raw material in the production of
silicon wafers which form the base of electronic chips and circuits. The
increasing demand of electronic products like smartphones, laptops, and other
gadgets is driving the demand of silicon wafers manufactured using high purity
quartz.
Key Takeaways
The global High
Purity Quartz Market Share is
expected to witness high growth. The global high purity quartz market is
estimated to be valued at US$ 950.96 Mn in 2023 and is expected to exhibit a
CAGR of 7.9% over the forecast period 2023 to 2030.
Regional
analysis shows that Asia Pacific region currently dominates the market and is
expected to continue its dominance over the forecast period. This is because
countries like China, South Korea, Taiwan, Japan and India have established
dominance in the production of electronic goods and semiconductor manufacturing
which are key end use industries of high purity quartz. These countries
dominate the world's production of electronic goods as well as semiconductor
chips. The growing demand for electronics from burgeoning middle class
populations in countries like India is also driving the growth of semiconductor
manufacturing in the region and subsequent demand of high purity quartz.
Key players related content comprises
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., Nordic Mining, and High Purity Quartz Pty Ltd.
Unimin Corp. /Sibelco leads the market with largest reserves and production
capacity of high purity quartz worldwide. The Quartz Corp. caters to the demand
from semiconductor and solar industries.
For more insights, read- https://www.ukwebwire.com/high-purity-quartz-market-trends-size-and-share-analysis/
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