High Purity Quartz, also known as Fused Quartz, has properties like high purity, optical transparency, and dimensional stability which makes it suitable for various industrial applications. It is primarily used in the semiconductor industry for manufacturing of crucibles and other process equipment that require high thermal shock resistance. The solar photovoltaic industry also utilizes high purity quartz in production of polysilicon which is further used in the manufacturing of solar cells.

The global High Purity Quartz Market is estimated to be valued at US$ 950.96 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Rising demand from the semiconductor industry is one of the major drivers propelling the growth of the global high purity quartz market. The semiconductor industry utilizes high purity quartz for manufacturing crucibles and other process equipment that require properties like high purity, thermal endurance, and dimensional consistency. Rapid expansion of the electronics sector globally has augmented the demand for semiconductor chips which in turn has increased the consumption of high purity quartz in the semiconductor manufacturing process. According to World Semiconductor Trade Statistics (WSTS), the global semiconductor market reached US$ 477.7 billion in 2021 witnessing a 26.2% growth over 2020. The demand from the expanding semiconductor industry is expected to continue fueling the growth of high purity quartz market over the forecast period.

In addition, rapid installation of solar panels globally has emerged as another driving factor for high purity quartz market. High purity quartz, in the form of polysilicon, acts as a vital raw material used in the manufacturing of solar cells. Strong emphasis on deployment of renewable energy coupled with falling prices of solar panels is propelling the growth of the global solar photovoltaic industry. For instance, according to International Renewable Energy Agency (IRENA), the global cumulative installed solar PV capacity reached over 830 GW in 2021, a 22% increase year-on-year. As a result, the demand for polysilicon from the booming solar sector is expected to surge which will positively impact the growth of high purity quartz market during the assessment period.

SWOT Analysis

Strength: High purity quartz has unique properties such as high melting point, chemical stability, hardness and optical transmission properties that make it suitable for different industrial applications. The wide range of applications from electronics to solar energy sector is driving high demand for high purity quartz. With growing technological advancement, the scopes of using high purity quartz is further expanding.

Weakness: The mining process of high purity quartz involves complex purification process that makes it a costly material compared to other substitutes. Fluctuations in the prices of upstream raw materials affect the costs of producing high purity quartz. Dependence on limited number of producers for raw material supplies can impact the stability of supply chains.

Opportunity: The increasing adoption of electronics devices and proliferation of 5G networks around the world is fueling the demand for high purity quartz in semiconductor industry. Rapid expansion of solar energy sector along with growth of electric vehicles provide huge growth opportunities for high purity quartz consumption. Continuous R&D to develop new applications will further boost the market growth.

Threats: Presence of substitute materials that can be used in place of high purity quartz pose competition threat. Fluctuations in foreign exchange rates impact the export-import of high purity quartz among countries. Trade wars and geopolitical tensions can disrupt the supply chains.

Key Takeaways

The Global High Purity Quartz Market Size is expected to witness high growth. The market size is projected to reach US$ 1,467.34 Mn by 2030, expanding at a CAGR of 5.3% during the forecast period from 2023 to 2030.

The Asia Pacific region currently dominates the global market with China holding the major production and consumption share. Other major markets include Japan, South Korea and India where growing electronics industry and expansion of solar energy sector will drive the high purity quartz demand.

Key players operating in the high purity quartz market are Fable & Mane, Henkel AG, Unilever Corporation, Kao Corporation, Aveda Corporation, Avon Products Inc., L€TMOreal S.A., Revlon, Inc., Johnson & Johnson, Natura & Co., and Coty Inc. Fable & Mane and Henkel AG are the leading producers with presence across major regions. The market is consolidated with top five players accounting for over 40% of global production capacity. Companies are focusing on capacity expansion plans and backward integration across the value chain.

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