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Quartz Market Report 2024 - Quartz Market Analysis, Trends And Insights
Quartz Market
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According to The Business Research Company's, The quartz market size has grown strongly in recent years. It will grow from $9.01 billion in 2023 to $9.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to electronics industry growth, urbanization and construction, industrial applications, healthcare and medical uses, demand from aerospace and defense.
The quartz market size is expected to see strong growth in the next few years. It will grow to $13.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to environmental sustainability, global supply chain dynamics, shifts in consumer preferences, military and aerospace needs, healthcare and biotechnology expansion. Major trends in the forecast period include rise in luxury market demand, resilience in supply chain, artificial intelligence in processing, smart home integration, health and wellness applications.
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Market Drivers and Trends:
An increase in demand for semiconductors is expected to propel the growth of the quartz market going forward. In the semiconductor sector, quartz plates and discs are required to manufacture boats, pedestals, wafers, wafer carriers, and batch processing equipment. Quartz, such as high purity quartz, is used in the semiconductor industry to produce crucibles and quartz glass products such as windows, rods, and tubes. For instance, according to the Semiconductor Industry Association (SIA), a US-based semiconductor industry, global semiconductor sales totaled $48.8 billion in October 2021, up 24.0 % from $39.4 billion in October 2020 and 1.1% higher than October 2021. Therefore, the increase in demand for semiconductors is driving the growth of the quartz market.
Major companies operating in the quartz market are focused on introducing advanced solutions, such as quartz collection, to gain a competitive edge in the market. Quartz collections are a range of quartz surfaces or countertops with innovative designs and colors, ranging from icy white tones to midnight black tones, For instance, in May 2023, Akrilika Holding Company, a Russia-based manufacturer of solid surface and quartz launched Alfa Quartz. Alfa Quartz is a premium material that combines natural elements with durability and innovative design featuring the first 10 colors. Alfa Quartz surfaces are non-porous, scratch-resistant, and do not require sealing, making them low-maintenance and durable.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Heraeus Holding, Kyocera Corporation, Murata Manufacturing Co Ltd., DuPont de Nemours Inc., Ferroglobe, Cosentino Group, Sibelco Quartz Corporation, Covia Holdings LLC, Jiangsu Pacific Quartz Co Ltd., Cambria, Caesarstone Ltd., Goodfellow Corp, NIHON DEMPA KOGYO Co LTD., CR Lawrence, Compac, MS Industries, Bitto(Dongguan), Kleen Industrial Services, Abrisa Technologies, Quality Quartz Engineering, American Elements, Baba Quartz, Ron Coleman Mining, Creswick Quartz, Donghai Colorful Mineral Products, ULTRA HPQ, Diresco, Alicante Surfaces Pvt Ltd, Belenco, HanStone Quartz, Wonic QnC Corporation, Xinyi MingwangQuartz Sand, Momentive Technologies, INASCO Inc., AGC Inc., Quartz Corp, Russian Quartz LLC, Saint Gobain Group, N.T. Ruddock Co, Pegasus Glass, Technistone, Swift Glass Company, Elkem ASA, Thermo Fisher Scientific, Noah Chemicals, Australian Silica Quartz Group Ltd.
Quartz Market 2024 Key Insights:
• The quartz market size is expected to see strong growth in the next few years. It will grow to $13.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Surge In Semiconductor Demand Catalyzes Growth In The Quartz Market
• Elevating The Quartz Market With Innovative And Durable Quartz Surfaces
• Asia-Pacific was the largest region in the quartz market in 2023
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