Quartz Glass Market expanding at a CAGR of ~5%

Quartz Glass Market: Introduction

In terms of value, the global quartz glass market is expected to reach ~US$ 3 Bn by 2030, expanding at a CAGR of ~5% during the forecast period. Increase in demand for quartz glass in various electronic applications is a key factor driving the global quartz glass market. Additionally, growth in the adoption of advanced technology to produce high purity quartz glass across the globe is estimated to fuel the global market during the forecast period.

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Key Drivers of Quartz Glass Market

The global quartz glass market is primarily driven by the increase in usage of quartz glass in semiconductor applications. Furthermore, demand for quartz glasses has been rising across the globe, owing to significant research & development in the medical and IT sectors. Quartz glass is used in outer surfaces of photovoltaic cell production. It is also used as a component in the production of silicon wafers, solar cells, and thin films. Quartz glass is primarily employed in manufacture of solar cells, owing to its potential of improving efficiency of solar powered devices. Quartz glass is used as crucibles for extracting single crystal silicon in the semiconductor industry. It is also employed in the production of process tubes, boats, and other jigs for oxidation and diffusion processes.

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Synthetic Quartz Glass to Witness High Demand

Based on product, synthetic quartz was the leading segment of the global quartz glass market in 2019. Low availability of natural quartz and high quality and purity of synthetic quartz are expected to propel the segment during the forecast period. Furthermore, synthetic quartz glass exhibits good transmission behavior in ultra-violet, visible, and infrared wavelengths. It also exhibits high temperature endurance and low coefficient of thermal expansion compared to natural quartz glass.

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Semiconductor Application to Dominate Quartz Glass Market

The semiconductor segment accounted for major share of the global quartz glass market in 2019. Quartz glass is used in the semiconductor industry to produce quartz glass products such as windows, rods, and tubes. Quartz glass is also employed in the production of silicon metal, which is a base of semiconductor wafers. Photovoltaic was another lucrative segment of the global quartz glass market in 2019. Quartz glass is employed in the production of photovoltaic cells and quartz glass crucibles. Opaque quartz glass is employed in industrial applications such as glass melting and chemical processing, due to high purity and excellent chemical resistance of high purity quartz glass. Quartz glass is also employed in optical fibers and other applications such as optical lenses and communication applications. Optical fibers are used in a wide range of applications, including medical, telecommunication, data transfer, and scientific research.

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Asia Pacific Holds Prominent Share of Quartz Glass Market

Asia Pacific is a highly attractive region of the global quartz glass market. China is likely to hold major share of the market in the region during the forecast period. Wide industrial manufacturing base, high availability of raw materials, and broad consumer base are some of the key factors driving the demand for quartz glass in China. North America is another major consumer of quartz glass, with the presence of a large number of players as well as manufacturing facilities in the region. Growth of the electronics industry and increase in production of semiconductor, solar panels, and communication devices are expected to boost the demand for quartz glass in the region in the near future.

The quartz glass market in Europe is anticipated to expand significantly in the near future, owing to the presence of well-established automotive and communication industries in the region.

Few Top Players Accounted for Major Market Share in 2019

The global quartz glass market is consolidated. It is dominated by a few large-sized manufacturers. Companies operating in the global quartz glass market are investing significantly in research and development activities and increasing the production capacities for quartz glass. Major players operating in the global quartz glass market include Heraeus Holding, Tosoh Quartz Co., Ltd., Shin-Etsu Chemical Co., Ltd., Squall International BV, MARUWA Co., Ltd., and Momentive Performance Materials Inc.

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This release was published on openPR.