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Global Quartz Market Company Share, Industry Size, Strategies and Forecast to 2030

09-23-2022 09:45 AM CET | Fashion, Lifestyle, Trends

Press release from: Inkwood Research

QUARTZ MARKET

QUARTZ MARKET

According to a new market research report published by Inkwood Research, the Global Quartz Market is projected to grow a CAGR of 5.05% during the forecasting years of 2020-2028.
"Browse 45 Market Data Tables and 47 Figures spread over 233 Pages, along with an in-depth TOC on the Global Quartz Market Forecast 2020-2028."

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Quartz is a hard mineral composed of oxygen and silicon atoms crystalline in nature. It is also known as crystalline silica, and comprises of unique electronic and electrical features. Quartz is the second most abundant mineral after feldspar found on the surface of the earth. It is one of the most different minerals, and its abundant colors produce several gemstone types. Citrine and amethyst are the most prominent and significant pearl assortments of quartz.

Surging Demand for Semiconductors Boosts the Market Growth
Quartz can act as a metal that is a good conductor of electricity at high temperatures, and acts as an insulator at low temperatures. Its distinctive properties make it a practical choice in the global technological market, beginning with the transistor market, followed in the world of integrated circuits, and finally, in the manufacturing of computer chips. The semiconductors industry consumes high-purity quartz sand, high-purity quartz glass, crucibles, etc., for different applications. The rising demand for semiconductors is anticipated to increase the demand for high-purity quartz all over the world. Besides, continuous innovation in varied growing technologies, such as artificial intelligence, virtual reality, IoT, among others, holds tremendous promise for future growth. Quartz is used within the electronics industry for its resonators, which are highly stable and high in performance, for further use in oscillators and filters.
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Silicon Metal Holds the Largest Market Share in the Product Type Segment
Silicon metal originated from quartz. Quartz is reduced to silicon in a high-temperature melting process using carbon in an electric arc furnace. Silicon is used in the manufacturing of solar cells, steel, and microchips. Silicon comprises of various properties that make it perfect for semiconductor applications. The high-purity silicon metal is used in various industries. It is used for producing silicon wafers and silicon compounds that are used in PV solar cells and electronic semiconductors. Aluminum manufacturers also use silicon metal to improve strength, hardness, and castability. It is also used for the manufacturing of photonic devices and industrial refractories. In the coming years, silicon metal applications are expected to continue, owing to increased demand for aluminum and chemical applications, the rapidly growing solar industry, and the demand from electronics and batteries.

Asia Pacific Forecasted to Record the Highest CAGR
The quartz market of Asia Pacific is predicted to be the fastest-growing market during the forecast period. The market analysis of the region includes the study of countries such as India, China, South Korea, Japan, Indonesia, Vietnam, Australia & New Zealand, Thailand, and the rest of Asia Pacific. The market is expected to grow at a fast pace due to the production of solar PV cells, the development of the electronic and electrical industry, and the growing exports and imports in the region.
The various prominent companies have well-established distribution channels in the market. Some of the leading companies registering their presence in the global market are Compagnie de Saint-Gobain S.A., AGC Inc, Dow Chemical Company, Elkem ASA, Kaide Quartz Company, etc.

Related Report:
GLOBAL ADVANCED PHASE CHANGE MATERIALS MARKET
GLOBAL CARBON BLACK MARKET
GLOBAL CONCRETE ADMIXTURES CONSTRUCTION CHEMICALS MARKET
GLOBAL ADVANCED CERAMICS MARKET

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