High Purity Quartz Market: Introduction
Transparency Market Research delivers key insights on the global high purity quartz market. In terms of revenue, the global high purity quartz market is estimated to expand at a CAGR of 6.3% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global high purity quartz market.
The global high purity quartz market is broadly affected by several factors, including rise in usage of high purity quartz in the semiconductor industry. Increase in demand for high purity quartz in telecommunication and optical fibers industries is also propelling the global high purity quartz market.
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High Purity Quartz Market: Dynamics
The rise in the demand for semiconductors made from high purity quartz is expected to the drive the high purity quartz market in the near future. High purity quartz products are ideal for usage in the semiconductor industry, due to their superior quality and excellent purity. High purity quartz is employed in the semiconductor industry to produce crucibles and quartz glass products such as windows, rods, and tubes. High purity quartz is also used in the production of silicon metal, which is the base for semiconductor wafers manufactured by using the Czochralski process.
The increase in the number of solar photovoltaic installations is the major contributor to the high purity quartz-based systems market. Several countries across the globe are largely undertaking solar projects in order to save non-renewable sources of energy. The solar industry has gained high importance, as it is a major source of renewable energy.
Need for increased network bandwidth and growth in Internet penetration across the globe are fueling the demand for fiber optics. Fiber optics allow transmission over longer distances with less loss and are also immune to electromagnetic interferences. The demand for such instruments is increasing, owing to significant research & development in medical and IT sectors. This is fueling the demand for high purity quartz across the globe.
The expansion of telecommunication and optical fiber industries is anticipated to play a crucial role in the growth of the high purity quartz market.
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High Purity Quartz Market: Prominent Regions
The global high purity quartz market has been segmented into North America, Asia pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global high purity quartz market in 2020. The region is expected to maintain its dominance during the forecast period. The dominance of Asia Pacific can be ascribed to the growth of electronics and solar industries, including China and India in the region.
The high purity quartz market in North America is anticipated to expand at a significant pace during the forecast period. Larger size of end-use industries in North America and Europe is projected to augment the high purity quartz market in these regions during the forecast period. The rise in demand for high purity quartz in various applications is also likely to boost the high purity quartz market in these regions over the next few years.
High Purity Quartz Market: Key Players
The global high purity quartz market is fragmented with the presence of a large number of players. Major companies operating in the global high purity quartz market are Covia Holdings Corporation, The Quartz Corporation, Jiangsu Pacific Quartz Co., Ltd., High Purity Quartz Pty Ltd, I-Minerals Inc., Creswick Quartz, Nordic Mining ASA, and Russian Quartz LLC.
Global High Purity Quartz Market: Segmentation
High Purity Quartz Market, by Application
· Semiconductor
· Solar
· Lighting
· Optics
· Microelectronics
· Others (Telecom and IOT)
Multi-channel Laser Sorting Technology Gains Prominence in Market Landscape
As high purity quartz continues to gain notable popularity across different industrial domains, manufacturers operating in the current high purity quartz market landscape are expected to focus on improving the quality of their products by exploring the potential benefits of using new processing technologies. Participants within the high purity quartz market are increasingly investing resources for the development of new technologies and to strengthen their market position.
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For instance, the multi-channel laser sorting technology is expected to significantly improve the overall quality of the end-product. Companies in the high purity quartz market are largely focusing on improving the existing thermal processing technology to enhance the overall quality and consistency of high-quality quartz.
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