High Purity Quartz Market
High purity quartz is also known as Quartz, is produced from high purity quartz sand. It offers exceptional mechanical, optical, and thermal properties that enable their applications across high-tech products. High purity quartz is widely used across solar, fiber optics, semiconductor, and the lighting industry. In the semiconductor industry, they are used to manufacture pots and quartz glass materials such as windows, tubes, etc. Moreover, quartz is also used across automotive xenon and halogens.
Global high purity quartz market is estimated to account for around US$ 695.4 million in terms of value in the year 2019 and it predicted to grow at a CAGR of 8.5% during the forecast period (2020-2027).
Driver
Increasing installation of solar PV especially across the Asia Pacific region is a prime factor fueling the market growth of the high purity quartz. It 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 is estimated to augment the market growth of high purity quartz. It is used to produce Xenon, HID, Halogen, and UHP due to its excellent transmission and ability to withstand high temperature. Rising demand for advanced technologies such as automotive HID, Xenon, Halogen lamps, and UHP across industrial, automotive, and residential sector is expected to augment the market growth of high purity quartz.
Market Restraints
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, US 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.
Key Takeaways:
On the basis of region, Asia Pacific dominated the global high purity quartz market in 2019 with a 58.7% of market share in terms of value, followed by Europe and North America respectively.
On the basis of the grade, the grade II segment dominated the global high purity quartz market in 2019 with 50.9 % of 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 partnership and agreement 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 has 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
Established Players
Other Small Players
1- Jiangsu Pacific Quartz Co.
Potential Upcoming Players
Segmentation
By Grade
By Region
By Application
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