High Purity Quartz Market to Record a Sluggish CAGR of 8.3% Between 2016 and 2024

According to the latest market report published by Persistence Market Research titled ‘High Purity Quartz: Global Industry Analysis and Forecast 2016–2024’, global sales of high purity quartz is estimated to be valued at US$ 555.1 Mn in 2016 and is projected to increase at a CAGR of 8.3% over the forecast period to be valued at US$ 1,047.9 Mn by 2024.

High Purity Quartz is Quartz (SiO2) with 99.99%+ purity and is rare. Most naturally occurring quartz contains a variegated range of impurities among which contamination from substantial elements such as Al, Ti and Li is impossible to remove, if structurally bound to silica. Henceforth, Quartz wilt ultra-low content of these impurities commands significantly higher prices, and are considered as High Purity Quartz. The Global HPQ Industry is a highly specialized and rigidly consolidated market, with two producers handling more than 80% of the global production. HPQ is used in diverse range of special application and can be considered as an integral component in solar and semiconductor manufacturing chain.

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The ever growing demand for solar PV, due to rising number of government initiatives to promote green energy, Paris Climate Change Agreement and increasing developments in Lithium battery storage, is fuelling demand for production of mono-C-Si cells, in turn fuelling more demand for High Purity Quartz.

Though, solar and semiconductor accounts for a majority of demand for high purity quartz, but demand of HPQ is expected to grow beyond these applications, as lighting, telecom, optic and microelectronics industry sees rampant growth. HPQ’s unique mechanical and thermal properties coupled with extremely low concentration of impurities makes it an ideal component for a large number of special applications.

In terms of value, the Solar Application segment is anticipated to witness a CAGR of 9.7% over the forecast period. Similarly, for semiconductor application, demand for HPQ is closely related to new wafer fabrication units to be built, and the transition towards 450 mm wafers.

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Grade II HPQ segment is anticipated to register the fastest growth due to growing market for crucibles, high quality fused glass tubing, and quartz-ware. The Grade III segment can be considered as a matured market, wherein such high grades of HPQ is rare and used prominently for manufacturing semiconductor grade crucibles. The segment is slated to register a CAGR of 6.9% in terms of value over the forecast period.

Asia Pacific accounted for the largest value share of the global High Purity Quartz market in 2016, and is anticipated to register a CAGR of 8.2% over the forecast period in value terms. Sales of High Purity Quartz in China is projected to increase by 1.5X between 2016 and 2024. In terms of value and volume, Asia Pacific is anticipated to continue its dominance throughout the forecast period, due to increasing demand for a large number of quartz base material and quartz fabricated component manufacturers.

Apart from this, the Global HPQ Industry is a forte of constantly rising prices, amid rising demand and absence of new suppliers. The prices of HPQ have constantly risen by 2-4% year on year over the last 3 years, and this trend is anticipated to continue throughout the forecast period. Prices for Grade II HPQ in 2016, stood in the range of US$ 7500 – US$ 10000 per ton, whilst, average selling price of HPQ sold for semiconductor application stood US$ 10,500 – US$ 13,500 per ton in 2016.

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

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