Press release
High Purity Quartz Market Sale is Estimated to be worth US$ 1.72 Bn by 2032-end
High Purity Quartz Market 2022
The global high purity quartz market was valued at US$ 861.8 Mn in 2021. Consumption of HPQ is projected to increase at 6.5% CAGR and be valued at around US$ 1.72 Bn by 2032-end. Growing urbanization and significant growth in end-use industries, combined with rising per capita disposable income, will continue to drive market growth.
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The global high purity quartz (HPQ) market is anticipated to witness a growth rate of around 6.5% through 2032. Significant development in the electronics industry and growth of the solar energy sector are anticipated to create significant opportunities for high purity quartz suppliers over the coming years.
High purity quartz is used in a wide range of special applications and is a key component in solar and semiconductor manufacturing processes. Growth in these end-use sectors directly drives consumption of HPQ.
The COVID-19 outbreak had a significant impact on market growth in 2020 because of widespread lockdowns and transit restrictions. The pandemic had a negative impact on all countries around the world. Most countries affected by the pandemic were forced to impose broad brush shutdowns, affecting their industrial and commercial activities.
Key Companies-
• Covia Holdings Corporation
• The Quartz Corp
• Russian Quartz LLC
• Jiangsu Pacific Quartz Co., Ltd
• High Purity Quartz Pty Ltd
• I-Minerals Inc.
• Creswick Quartz
• Nordic Mining ASA
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Key Takeaways from Market Study
• Global demand for high purity quartz is forecasted to reach a value of US$ 1.72 Bn by the end of 2032.
• China is anticipated to remain one of the key HPQ markets accounting for around 25.7% of the global market share in 2022.
• Grade III HPQ is anticipated to witness a CAGR of 6.8% over the decade.
• The U.S. market is expected to grow at a significant rate of 5.6% through 2032.
• By end use, the semiconductors sector is anticipated to remain a key segment and account for more than 35% market share by value in 2022.
"Key players are focusing on the expansion of their production capacities to meet global demand, and the market is witnessing the emergence of new participants," says a Persistence Market Research analyst.
Conclusion
Substantial demand from the electronics industry is boosting the market of high purity quartz. Significant rise of semiconductors is also enhancing HPQ consumption rate. Further, increasing demand for renewable energy is also benefiting market growth as high purity quartz is used in photovoltaic cells, which are used in solar panels.
Due to increased demand from the electronics sector, key manufacturers around the world are focusing on expanding their production capacities. New players are also entering the market. To stay competitive in the market, new players are focusing on providing high purity grade products as well as product innovation. To increase product sales, market players are strengthening their supply chain networks.
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Key Questions Answered in This Report -
• How much is the global market for HPQ currently worth?
• What are the key factors driving demand for high purity quartz?
• What will be the consumption outlook for high purity quartz through 2032?
• What are the key trends being witnessed in the global market?
• How is U.S. high purity quartz market faring?
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