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High purity quartz, also known as electronic grade quartz, is widely utilized across various industries owing to its unique optical and piezoelectric properties. It finds key applications in semiconductor industry for making crucibles and lining used for growing silicon and gallium arsenide crystals.
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 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The electronics industry has been one of the largest end users of high purity quartz owing to its extensive usage across various applications such as making crucibles, lining chambers and other equipment. It is estimated that nearly 50% of the overall domestic and international demand for high purity quartz is from the electronics sector. With rapid digitization and growth in areas such as IoT, autonomous vehicles, 5G infrastructure and AI, the demand from electronics industry is expected to witness strong momentum over the coming years, thereby propelling the demand for high purity quartz.
SWOT Analysis
Strength: High purity quartz has strong demand due to the unique properties it possesses such as excellent physical and chemical properties like high thermal and electrical resistance.
Weakness: High production and processing costs associated with mining and manufacturing high purity quartz.
Opportunity: Growing demand from the microelectronics and semiconductor industries for manufacturing quartz crucibles, wafers, and other products used in the production of integrated circuits and chips.
Threats: Volatility in raw material prices and availability can impact the costs of high purity quartz.
Key Takeaways
The Global High Purity Quartz Market Size 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 5.3% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the global high purity quartz market owing to the large presence of key manufacturing hubs and a growing electronics industry in countries such as China, Japan, South Korea, and Taiwan.
Key players related content comprises- Key players operating in the high purity quartz market are Fable & Mane, Henkel AG, Procter & Gamble Co., Unilever Corporation, Kao Corporation, Aveda Corporation, Avon Products Inc., L€TMOreal S.A., Revlon, Inc., Johnson & Johnson, Natura & Co., and Coty Inc. The major players are focusing on strategic partnerships and mergers to expand their global presence and gain a competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
