High Purity Quartz Sand Market to Witness a 5.77% CAGR from 2023 to 2030

Pune, India, December 28, 2018/MRFR Press Release/- Market Research Future Published a Cooked Research Report on Global High Purity Quartz Sand Market.

High Purity Quartz Sand Market Highlights

As per the recent study conducted by Market Research Future (MRFR), the global market for high purity quartz is expected to increase at a CAGR of 5.77% during the forecast period (2023-2030). In 2022, the market reached a valuation of over USD 20.07 Billion in 2022. Global supply of high purity quartz has continued to growing owing to its increased used in electronics manufacturing. Characteristics such as high inertness, purity, durability, high temperature resistance and transmissivity to light make high grade quartz sand a sought-after material in the electronics manufacturing sector.

Modern electronic components such as solar energetics, fiber optics and lighting products require a significant amount of high purity quartz sand as a raw material. Moreover, the tremendous growth of the semiconductor industry is also influencing the market. Only premium grade quartz sand is used for manufacturing of top-quality silicon wafers.

Growing popularity of fiber optic products such as optical fibers and optical lenses is another key factor that is driving the global demand for high purity quartz sand. The outlook towards the high purity quartz sand remains positive for the medium term. Rapid industrial growth and quick urbanization in countries such as China, Mexico, Brazil and India is creating favorable market opportunities for high purity quartz sand.

The study also includes a thorough segmental analysis of the market on the basis of type, application and region. By type, the market has been segmented into low grade, medium grade, and high grade. Of these, the high-grade segment currently accounts for the largest market share. In 2017, the segment stood at a market valuation of over USD 356,400 thousand and expected to remain highly profitable in the forthcoming years. More than, 29,400 tons of high-grade quartz sand was shipped in 2017. The medium-grade segment is also expected to witness a strong growth during the forecast period. By application, the market has been segmented into lighting, solar energetics, microelectronics, fiber optics and others. The microelectronics segment commanded more that 60% share of the marker in 2017. During the forecast period, the segment is expected to record 9.25% CAGR and reach a market valuation in excess of USD 569, 200 thousand. In 2017, the segment surpassed 32,300 tons in terms of volume. The segment is expected to remain highly attractive over the next couple of years. This can be attributable to the increasing application of high purity quartz sand in microelectronics component manufacturing. The solar energetics segment is also gaining a healthy momentum. The segment is projected to witness the fastest CAGR through 2030.

The regions covered in the study are Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), Latin America and North America. APAC is likely to remain at the forefront of the global high purity quartz sand market during the forecast period. APAC has emerged as lucrative market for high purity quartz sand in recent years. In 2017, the APAC commanded more that 55% share of the global market. Currently, the market in APAC stands at over USD 347,600 thousand. The APAC high purity quartz sand market is projected to surge at a double-digit CAGR during the assessment period. The region has successfully established itself as global manufacturing hub for electronic products with China acquiring the leading position. Meanwhile, countries such as Taiwan, Japan and South Korea are also chipping in to make the region as a key destination for global electronic brands.

Competition Tracking

The Quartz Corporation, Sibelco, Creswick Quartz Plt Ltd., Nordic Mining ASA, Lianyungang Donghai Colorful Mineral Products Co., Ltd., Mineracao Santa Rosa, HPQ materials, Jiangsu Pacific Quartz Co., Ltd., Momentive, and Kyshtym Mining are the market participants mentioned in MRFR’s report.

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