Press release
Crystal Market Outlook 2034: Valued at US$ 4.4 Bn in 2023, Projected to Reach US$ 6.6 Bn by 2034
The Global Crystal Market (크리스탈 마켓), currently valued at US$ 4.4 Bn in 2023, is forecasted to experience steady growth, advancing at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2034, and is expected to reach US$ 6.6 Bn by the end of 2034. This growth trajectory is driven by rapid advancements in electronics technology and the increasing demand for high-performing, compact devices.The crystal industry is poised for significant growth, propelled by technological innovations in electronics. The development of smaller, high-performing devices, coupled with advancements in precision manufacturing and crystal growth techniques, is enhancing the quality and performance of crystals used in semiconductors. Emerging technologies such as artificial intelligence (AI), the Internet of Things (IoT), and electric vehicles (EVs) present numerous growth opportunities for the crystal market.
Asia Pacific is leading the market, attributed to the presence of major semiconductor manufacturers and the rapid growth of the electronics industry in countries like China, Japan, and South Korea. Key players in the market are focusing on product development, strategic partnerships, and mergers & acquisitions to expand their product portfolios.
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Market Overview
Crystals, available naturally or synthetically (cultured crystals), are critical components in various industries. The crystal market study focuses on components like crystal oscillators, resonators/crystal units, and filters, extensively used in automotive, consumer electronics, military & aerospace, IT & telecommunication, healthcare, and other industries.
The demand for cultured quartz crystal is rising due to the increasing popularity of wearables and health & fitness tracking products. Wearable technology is also widely deployed in the manufacturing and healthcare industries, further fueling the demand for cultured quartz crystal.
Key Market Drivers
1. Increase in Demand for Consumer Electronic Products: The surge in demand for consumer electronic products such as wearables, Bluetooth devices, portable PCs, smartphones, GPS/GNSS, security cameras, sensors, music players, digital cameras, and game consoles is driving the production of cultured quartz crystal. Natural quartz crystal suitable for direct electronic or optical use is limited, leading to increased acceptance of cultured quartz crystal as an alternative material in electronics and optics.
2. Rise in Demand for Crystal Oscillators for Vehicle Electronics Systems: The automotive electronics field is evolving with the introduction of advanced driver-assistance systems (ADAS) and feature-rich infotainment systems. This evolution is driving the demand for crystal oscillators. Manufacturers are developing advanced crystal components for in-vehicle infotainment systems, enhancing the crystal market revenue.
MHz Frequency Gaining Traction
The crystal market (クリスタルマーケット) is segmented based on frequency into KHz and MHz. The MHz segment held a share of 59.0% in 2023 and is expected to expand at a rate of 4.0% during the forecast period. MHz crystal units are widely used for high power applications in IoT, consumer electronics, home electronics, industrial control & automation, mobile communication, military, and commercial applications.
High Demand for Oscillators
The market can be segmented into oscillators, resonators, and filters. The oscillators segment accounted for a share of 48.2% in 2023 and is likely to remain dominant, expanding at a rate of 4.3% during the forecast period. The demand for crystal oscillators across smartphones, wireless LAN, WiMAX, Bluetooth, wearable devices, tablets, computers, GPS/GNSS, and industrial radio communications is fueling this growth.
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Regional Outlook
Asia Pacific held a prominent share of 42.8% in 2023 and is anticipated to grow at a notable CAGR of 4.3% throughout the forecast period. China has the largest market for crystal units due to its strong position in consumer electronics, semiconductors, and telecommunication device manufacturing. Increased R&D expenditure and investments by governments to develop improved sensors for various applications are driving market progress in the region.
Key Players
The crystal market landscape is consolidated, with a few well-known players holding significant market share. Companies are investing significantly in research & development to launch innovative crystals. Strategies such as expanding product portfolios and mergers & acquisitions are commonly adopted by key players.
Prominent players in the crystal market include Abracon, ACTE A/S, Daishinku Corp, Diodes Incorporated, ECS Inc. International, FujiCom Co., Ltd, Harmony Electronics Corp, Hefei Jingweite Electronics Co., Ltd, Interquip Electronics (Shenzhen) Co., Ltd, KYOCERA Corporation, Microchip Technology Inc, Murata Manufacturing Co., Ltd, NIHON DEMPA KOGYO CO., LTD, Renesas Electronics Corporation, Seiko Epson Corp, Shenzhen Jingfeng Crystal Technology Co., Ltd, Siward Crystal Technology Co Ltd, Taitien Electronics Co. Ltd, TXC Corporation, and Yoketan Corporation.
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