Press release
High Purity Quartz Market Regisered a CAGR of 8.4% by 2024
It is used for manufacturing silicone metal ingots, which is later processed into silicon wafer for the semiconductor market. The highest demand for high purity quartz is seen in the solar industry. Moreover, increase in the number of solar projects worldwide is also likely to drive the demand for high purity quartz.
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High purity quartz is also finding large application in high-temperature lamp tubing including halogen lamp and mercury lamp. The demand for metal halide lamps for car headlights is also increasing with the rising demand in the automotive sector.
Companies are also adopting various advanced methods to transform raw quartz into high purity products. These methods or processes helps in minimizing impurities in raw quartz. Competition is also limited in the global market for high purity quartz as the price remains steady and mineral is also not cheap.
Next generation of wafers for semiconductor is also driving demand for high purity quartz glass-based materials. High purity quartz is also being used for handling waveguides in the telecommunication industry. Hence, the demand for high purity quartz is also increasing in the telecommunication industry.
According to the report by Persistence Market Research, the global market for high purity quartz is likely to witness growth during the forecast period 2017-2024. In terms of volume, the global high purity quartz market is projected to exceed 118,500 tons by the end of 2024.
Grade II and Grade III to Account for the Largest Market Share in the Global Market for High Purity Quartz
Based on the grade type, grade II and grade III are likely to witness the highest growth in the market during the forecast period 2017-2024. Both grade II and grade III are estimated to collectively account for 91% revenue share.
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On the basis of application, high purity quartz is likely to find the largest application in the semiconductor industry. By the end of the forecast period, semiconductor industry is projected to bring in more than US$ 500 Million revenue.
Asia Pacific to Remain Dominant in the Global High Purity Quartz Market
Asia Pacific (APAC) is expected to rule the global market for high purity quartz during 2017-2024. Towards the end of 2024, APAC is estimated to surpass US$ 600 Million revenue. High purity quartz sales in China is likely to increase.
Moreover, most of the quartz producing companies are also located in the region. Companies in Asia Pacific are also focusing on developing and obtaining technologies that can help in improving the process of purifying quartz. Purification of quartz is also being focused on as per the requirement by various companies.
Key Players in the Global High Purity Quartz Market
The report also provides details on some of the leading players in the global market for high purity quartz. Major companies operating in the market are The Quartz Corp., Unimin Corporation, Baikowski, Jiangsu Pacific Quartz Products Co., Ltd., High Purity Quartz Pty Ltd, and Nordic Mining ASA.
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