High Purity Quartz Sand Market Overview
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 9.87% during the forecast period (2018-2023). In 2017, the market reached a valuation of over USD 627, 300 Thousand. 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 COVID-19 analysis on high purity quartz sand market forecast. 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.
High Purity Quartz Sand Market Segments
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 2023.
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High Purity Quartz Sand Market Regional Analysis
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 forecast 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 analysis 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.
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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