Abundant availability and wide range applications of quartz is expected to escalate the quartz market at a CAGR of 6.2%
Latest market study on "Global Quartz Market to 2027 - Analysis and Forecasts Product (Quartz Surface and Tile, High-Purity Quartz, Quartz Glass, Quartz Crystal, Quartz Sand, Others); End-User Industry (Electronics and Semiconductor, Solar, Buildings and Construction, Medical, Optics and Telecommunication, Others), and Geography", The global quartz market was valued at US$ 8,037.0 Mn in 2018 and is projected to be worth US$ 13,762.6 Mn by 2027; it is expected to grow at a CAGR of 6.2% during the forecast period. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Quartz is a mineral form of SiO2 stable at low temperatures and pressures. It is found in igneous, sedimentary, metamorphic, and hydrothermal mineral environments, mainly in continental regions. It is highly resistant to mechanical and chemical weathering, and the high durability makes it the dominant mineral of mountaintops and the primary constituent of river, beach, and desert sand. Based on the end-use industry, the quartz market has been segmented into electronics and semiconductors, solar, buildings and construction, medical, optics and telecommunication and others. In 2018, the electronics and semiconductor segment led the quartz market with a share of 27.5% and is expected to continue its dominance during the forecast period. The physical properties of quartz such as hardness, chemical purity, resistance to high temperatures and corrosion, and electrical insulation make it an ideal component in the manufacture of semiconductors. High purity quartz (HPQ) is widely used in consumer goods such as TVs, ACs, laptops, smartphones, and others. It is treated as an integral component in the solar and semiconductor industry. Thus the increasing utilization of quartz in these industries is anticipated to drive the market during the forecast period.
In 2018, APAC held the largest share of the global quartz market. The largest market share of this region is primarily attributed to the presence of major quartz manufacturers in the region. Increasing demand for quartz from the electronics industry in developed and developing countries in the APAC countries such as China, Japan, South Korea, and India is propelling the growth of the quartz market in APAC. Furthermore, the well-established building and construction sector in the Asian countries provides a huge market opportunity for the key players operating in the quartz market. The quartz and quartz products produced in Asian countries, such as China and India, are mainly exported to the US, Germany, and France. This further provides a huge customer base for quartz products manufactured in APAC.
The market for global quartz is concentrated with some very well-established players. Some of the key players in the global quartz market are Baba Quartz, Quality Quartz Engineering, Momentive, Quartz Corporation, Creswick Quartz, Saint Gobain S.A., Dupont, Sibelco NV, Thermofisher Scientific, and Caesarstone Ltd. among others.
Global Quartz Market - By Region Breakdown, 2018
