Global high purity quartz market was valued at US$ 857.4 Mn in 2022, exhibiting a CAGR of 10.5% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 1,730.1 Mn by 2030. Global High Purity Quartz Market, By Product Type (HPQ Powder, Grade I, Grade II, Grade III), By Application (Semiconductor, Solar, Lighting, Telecom & Optics, Microelectronics, Others), and By Region (Asia Pacific, North America, Europe, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030. Published by: Coherent Market Insights.
Driver
Increasing installation of solar photovoltaic (PV) especially across the Asia Pacific region
Increasing installation of solar PV especially across the Asia Pacific region is a prime factor fuelling the market growth of the high purity quartz. Solar photovoltaic is an important component in the manufacturing of photovoltaic. According to the Institute for Energy Economics and Financial ANALYSIS, Australia added over 3,775 MW of solar capacity in 2018, up from 1,270 MW in 2017. Thus, the rising adoption of solar PV is expected to accelerate the market growth of high purity quartz.
Market Opportunities
The rising application of quartz in the lighting industry
The rising application of quartz in the lighting industry is estimated to augment the market growth of high purity quartz. It is used to produce Xenon, High Intensity Discharge (HID), Halogen, and Ultra High-Performance (UHP) due to its excellent transmission and ability to withstand high temperatures. Rising demand for advanced technologies such as automotive HID, Xenon, Halogen lamps, and UHP across the industrial, automotive, and residential sectors is expected to augment the market growth of high purity quartz.
Market Restraints
Limited availability of high purity quartz mine resources
Limited availability of high purity quartz mine resources is expected to hinder the market growth over the forecast period. According to the Coherent Market Insights analysis, at present, there are only two notable mines (Spruce Pine, North Carolina, U.S., and Kyshtym, Russia) around the globe that account for more than 95% of total high purity quartz production. Thus, the lack of mine resources is expected to hamper the market growth of high purity quartz.
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Key Takeaways:
On the basis of region, Asia Pacific dominated the global high purity quartz market in 2022 with a 62.10% of market share in terms of value, followed by North America and Europe respectively.
On the basis of the grade, the grade II segment dominated the global high purity quartz market in 2022 with 54.2% of the market share in terms of value, followed by grade III and grade I respectively.
Market Trends
Various manufacturers are adopting various growth strategies such as partnerships and agreements
Various manufacturers are adopting various growth strategies such as partnerships and agreements in order to gain a competitive edge in the market is expected to fuel market growth of high purity quartz. For instance, in November 2019, NanoGraphene entered into a partnership with Solar Quartz to develop graphene-enhanced solar industry products and new applications. The partners plan to utilize their extensive experience and knowledge of high purity quartz and solar-grade silicon production industries together to develop new graphene-enhanced solar-grade materials, applications, and products with new attributes.
Competitive Section:
Company Names
- Key Companies
- Unimin Corp./Sibelco
- The Quartz Corp.
- Russian Quartz LLC – Kyshtym Mining - Sumitomo
- Other Small Players
- 1- Jiangsu Pacific Quartz Co.
- Potential Upcoming Players
- Nordic Mining
- High Purity Quartz Pty Ltd.
