High purity quartz, also known as synthetic quartz or fused silica, is highly engineered material produced by melting the finest quartz sand in powered electric furnaces. It finds wide application in semiconductor industry for manufacturing of various components such as crucibles, lamps and wafer carriers. Due to its purity levels exceeding 99.995%, high purity quartz offers characteristics such as resistance to thermal shock, excellent transparency and thermal insulation. It is also used in production of light emitting diode (LED), solar panels and optical fibers.

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 Dynamics

Growing Semiconductor Industry (As mentioned in the heading, increasing production of semiconductors is expected to drive the demand of high purity quartz during the forecast period)

The rising demand for consumer electronics such as smartphones, tablets and personal computers has been propelling the growth of global semiconductor industry. According to estimates, the semiconductor market was valued at US$ 438 Bn in 2017 and is projected to surpass US$ 600 Bn by 2023, growing at a CAGR of 6.5%. This significant expansion of semiconductor industry, especially in Asia Pacific region has been driving the consumption of high purity quartz as it serves as a key raw material in manufacturing various semiconductor components. Moreover, ongoing technology advancements leading to miniaturization of electronic devices is further anticipated to boost the demand.

Segment Analysis

The high purity quartz market can be segmented into two major segments – HPQ powder and HPQ products. The HPQ powder segment currently dominates the market and accounts for over 70% share owing to its varied application areas. It is used as a base material in the production of various HPQ products. The key HPQ products include solar grade HPQ, electronics grade HPQ and lighting grade HPQ. Among these, the solar grade HPQ sub-segment holds the largest market share currently due to the growing demand for photovoltaics and semi-conductors globally.

PEST Analysis

Political: The government incentives for renewable energy generation and energy efficient products have augmented the demand for solar panels and semiconductors, boosting the HPQ market. However, trade barriers can affect the sourcing of raw materials.
Economic: The rising disposable income levels and growing middle class populations in emerging economies have accelerated the consumption of consumer electronics and automobiles which use HPQ. On the other hand, recessionary pressures and high inflation can hamper electronic goods demand.
Social: Increasing awareness about environmental protection and clean energy adoption is prompting both commercial and residential consumers to prefer solar panels and LED lighting which employ HPQ. Nevertheless, health concerns related to quartz dust exposure act as a restraint.
Technological: Advancements in microchip technology, optoelectronics and solar cell efficiency have elevated the performance requirements from HPQ. Meanwhile, innovations to employ sustainable mining and production practices are helping alleviate environmental concerns.

Key Takeaways

The global High Purity Quartz Market Share  is expected to witness high growth over the forecast period. 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.

North America currently represents the largest regional market owing to strong presence of electronic device manufacturers and government incentives for solar energy adoption. The solar grade HPQ sub-segment holds nearly 50% market share currently due to rising deployment of photovoltaics globally. meanwhile, growth in the electronics sector driven by 5G infrastructure rollout and increasing smartphone penetration will propel the electronics grade HPQ demand.

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. These players are focusing on sustainable mining and advanced production facilities to cater to the growing purity requirements.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it