$ 1.13 Billion Growth Expected in High Purity Quartz Market | High Purity Quartz Market Gains Prominence as Solar Energy becomes Integral to Energy Mixes
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High purity quartz (HPQ) is widely used in the production of electrical components. Its superior conductivity makes it an ideal choice for end users. The growing dependence on electronics across the globe is projected to bode well for the market. Best known to be devoid of any metal contaminants, high purity quartz is estimated to be integral to the fabrication of electronic component in the coming years.
Demand for Cleaner Energy Pushes Uptake of High Purity Quartz
In recent years as demand for cleaner energy pushes boundaries, solar energy has gained momentum and importance. To make a significant part of national energy mixes, governments are investing in solar projects. In light of this trend, the market is expected to demand a large number of solar photovoltaic (PV) cells, which require high purity quartz for production. Thus, the growing solar installations are expected to give this market a definitive boost in the coming years.
High Purity Market to Thrive on Rise of Semiconductors Industry
The rise of the semiconductors industry with its increasing production of memory chips required in varied devices has encouraged the uptake of high purity quartz. Improving disposable incomes and a demographic dominated by a younger generation has created a huge demand for IT-vanity, propelling at the use of AI and IoT at basic household levels. For instance, a robot vacuum cleaner, connected devices and home assistants have led to the production of electronics that ease day-to-day tasks. As these require semiconductors, they are likely to fuel the usage of high purity quartz as well.
Work-from-Home Culture in Dire Need of Flawless Broadband Acts as Key Market Driver
The sudden upsurge in the use of broadband has resulted in growing demand for high purity quartz. As offices move BYOD model or a work-from-home culture, employees will demand broadband of flawless quality and speed. Fiber optic cables used for creating sprawling broadband networks demand superior cladding to ensure long-term use. High purity quartz keeps the cables safe and prevents them early weathering and damages. The expenditure and investments in offering better broadband services are poised to spike by 5% by the end of 2030. This is likely to create a massive demand for high purity quartz in the foreseeable future.
High Purity Quartz Market Press Release : https://www.fairfieldmarketresearch.com/surging-production-of-semiconductors-to-drive-global-high-purity-quartz-market-at-7-5-cagr-2021-2025/
Asia Pacific to Exert Dominance with China’s Tight Grip Over Electronics Production
Fairfield Market Research indicates that Asia Pacific is expected to lead the global market as the semiconductors and electronics industries remain integral to the economic structure of developing countries. As of 2018, the region accounts for more than half of the total high purity quartz globally. Growing solar power installations are also expected to contribute to this regional dominance, predicts Fairfield Market Research. Additionally, insurmountable usage of electronic devices in India, China and Japan due to the sheer population strengthen will also generate a high demand for HPQ required to make electronics.
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Key Players Look for Eco-friendly High Purity Quartz Processing Methods
Some of the key players operating in the global high purity quartz market are High Purity Quartz Pty Ltd, Jiangsu Pacific Quartz Co., Ltd, Russian Quartz LLC, and Creswick Quartz. Companies operating in the market are looking at investing in greener technologies to process HPQ in order to make a disruption at stay ahead of the competition.
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