(MENAFN- GlobeNewsWire - Nasdaq) New York, May 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Quartz Market Size, Share, and Analysis, By Product, By End-User Industry and Regional Forecasts, 2022-2032" -
PRODUCT OVERVIEW:
The Quartz market size was USD 8.8 billion in 2021 and projected to grow from USD 10 billion in 2023 to USD 17.6 billion by 2032, exhibiting a CAGR of 6.5% during the forecast period.
Quartz is one of the differed minerals found on the earth, and it produces many gemstone color types. Quartz crystal has several electronic uses and is used in weight measures, as oscillators in radios, watches, and in investigation of optics. Amethyst and citrine are the important pearl blend of Quartz. Quartz is also used for pounding glass, grating, and cutting delicate stones. Chalcedony depicts any type of Quartz which is available in small structure and is microcrystalline with several varieties used as gemstones, called Agate, Tiger's Eye, Carnelian, & Chrysoprase. Pure Quartz is colorless but due to the addition of impurities, wide color ranges of quartz are produced.
MARKET HIGHLIGHTS
Quartz Market is expected to project a CAGR of 6.5% during the forecast period, 2022-2032
The global quartz market is expected to reach USD 17.6 billion at a CAGR of 6.5% during forecast period owing to several advantages synthetic quartz offers like corrosion, acid resistant, compression, high temperatures, bending, infiltration etc. It is also extensively used in electronics and semiconductor industry and in optical components for wavelength lasers of projection systems. Synthetic quartz is used to manufacture crucibles to produce semiconductor devices. Synthetic quartz is resistant to laser, suitable for high-power low-wavelength lasers. The optical components made of synthetic. Synthetic quartz is available easily in various industries, like electronics, construction, electrical and automotive sectors which will boost the demand for synthetic quartz market.
QUARTZ MARKET SEGMENTATION:
High-Purity Quartz segment is expected to grow with high CAGR during the forecast period
Quartz Market is classified based on the Product into Quartz Surface & Tile, High-Purity Quartz, Quartz Glass, Quartz Crystal, Quartz Sand, and Other. The high-purity quartz segment is expected to have the highest share during the forecast period owing to the high purity quartz which has minor impurity levels and has greater silicon dioxide about 99%. Rising demand for high purity quartz from various industries is driving the growth of market. High purity quartz is utilized as semiconductor, in fiber optics, solar etc. High purity quartz also produces high purity fused quartz and offer wide range of properties in optical, mechanical etc., essential for producing high-tech products and also in the production of rods, tubes and crucibles.
Electronics & Semiconductor segment is expected to grow in 2022-2032
MARKET DYNAMICS:
Growth Drivers
. Rising Demand of Quartz in Electronics Industry is Expected to Boost the Growth of the Market
. Increasing Technological Advancements is Expected to Boost the Market Growth
Restraint
High Cost of Quartz May Restrain the Market Growth
QUARTZ MARKET_KEY PLAYERS COVERED:
. Advanced Baba Quartz
. Saint-Gobain
. QQE
. Momentive
. Creswick Quartz
. Quartz Corporation
. Corian
. Caeserstone
. High Purity Quartz Pty Ltd.
. Thermofisher Scientific
. Other Prominent Player
Regional Analysis
Quartz Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia pacific dominated the market with highest share in 2021 owing to the countries in this region like China with presence of abundant construction activities and with several industrial and construction sectors which is expected to have major share in the market. The governments in few countries of this region are focusing firmly on expanding the construction sector for ensuring constant growth. Even by increasing the electronics manufacturing systems, the growth which is expected to increase the demand for quartz during the forecast period.
QUARTZ MARKET SEGMENTS:
By Product
. Quartz Surface & Tile
. High-Purity Quartz
. Quartz Glass
. Quartz Crystal
. Quartz Sand
. Others
By End-User Industry
. Electronics & Semiconductor
. Solar
. Buildings & Construction
. Medical
. Optics & Telecommunication
. Others
Reasons to Purchase this Report.
. Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
. Provision of market value (USD Billion) data for each segment and sub-segment
. Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
. Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
. Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
. Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
. The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
. Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
Read the full report:
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