High Purity Quartz Market Projected to Grow at 8.3% CAGR by 2024

Pure quartz having 99.99%+ purity (SiO2) is rare. Most naturally occurring quartz contains a wide range of impurities following the partial contamination from various elements such as Ti, Li and Al which are almost impossible to remove if anatomically bound to silica. The purest form of naturally occurring quartz with ultra-low contamination slates a significantly high price, and is considered as pure quarts. The global market for high purity quartz is rigid and consolidated, entailing extreme specialization. In addition, 80% of the overall production of HPQ around the globe is handled by two major producers. HPQ has a wide range of usage and special application, it is considered as an important component in semiconductor and solar panel manufacturing chain. The robust demand for solar PV attributed to the increasing government initiatives endorsing clean and green energy and growing popularity of lithium battery technology are major factors influencing the demand for HPQ.

According a Persistence Market Research (PMR) report, the global market for high purity quartz (HPQ) is anticipated to expand at a CAGR of over 8% during the forecast period 2016-2024. By the end of 2016, the global sales of HPQ are expected to reach US$ 555.1 Million. By 2024, the market is anticipated to surpass US$ 1,047 Million.

While semiconductor and solar manufacturing account for the major share of HPQ demand, its expanding application base in electronic, optic, microelectronic and telecom industry is likely to further propel the demand for HPQ. Moreover, the element has unique thermal and mechanical properties that make it an ideal selection in manufacturing of various special applications.

The HPQ market for solar manifesting is expected to reflect a CAGR of over 9% during 2016-2024.The semiconductor application segment is expected to witness a similar growth rate during the forecast period. In addition, rapid adoption of advanced models of wafers such as the 450mm wafers in translating into higher demand for HPQ.

The grade II HPQ is expected to witness the highest growth owing to a considerable market expansion for HQ fused glass, quartz-ware and tubing crucibles. The market for Grade III HPQ is considered as matured market, such high quality HPQ is rare and largely used for making semiconductor based crucibles. In term of value, this particular grade of HPQ is expected to witness a CAGR of over 6% during the forecast period.

The market in Asia Pacific is projected to account for the highest share in terms of value by the end of 2016 and is expected to witness a CAGR of over 8% during the forecast period. Further, the projected sales of HPQ in China are expected to grow by 1.5X over 2016-2024. Asia Pacific is expected to be the most lucrative market for HPQ during the forecast period owing to the introduction of various quartz-based products in the region. Moreover, the global market is also being shaped by the year-on-year price gouging of HPQ at the rate of 2-4%, which has been observed over the past few years. This is largely due to the constant increase in demand and a slow expanding supply chain. Currently, the Grade II HPQ is priced at US$ 7500 – US$ 10000 per ton, while, prices of HPQ for manufacturing semiconductor products stands at 10,500 – US$ 13,500 per ton.

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Vendor News

Key players operating in the global market for HPQ include Jiangsu Pacific Quartz Products Co., Ltd., The Quartz Corp, HPQ Silicon Resources Inc., High Purity Quartz Pty Ltd, Unimin Corporation, Russian Quartz LLC (Kyshtym Mining), and Nordic Mining ASA.

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Summary: The global market for high purity quartz is anticipated to expand at a CAGR of over 8% during the forecast period.

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