High purity quartz, also known as high purity silicon dioxide, is a crucial component for manufacturing various electronic products owing to its piezoelectric properties and chemical stability at high temperatures. It finds extensive usage in the production of semiconductors, solar equipment, fiber optics, and light-emitting diodes (LEDs). The growing electronics sector has substantially increased the demand for high purity quartz over the years.
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 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The booming electronics industry presents a massive market opportunity for high purity quartz suppliers. With technological advancements like 5G rollout, increasing penetration of IoT devices, and growing adoption of electric vehicles, demand for semiconductors and various electronics components is projected to surge exponentially. This will subsequently propel the need for high purity quartz in semiconductor manufacturing processes. According to estimates, global semiconductor sales revenue may exceed US$ 1 trillion by 2030. The expanding electronics sector is thus likely to drive robust demand for high purity quartz in the coming years. Suppliers should strengthen their production and distribution capacities to cater to the burgeoning requirement from the electronics industry.
Porter's Analysis
Threat of new entrants: Low barriers to entry may threaten existing players. However, high capital requirements and established suppliers pose challenges for new players.
Bargaining power of buyers: Large buyers in the semiconductor industry can negotiate lower prices. However, specialized products limit alternatives.
Bargaining power of suppliers: Few suppliers of high-quality quartz give them some pricing power. However, substitute availability balances their influence.
Threat of new substitutes: Alternatives like fused silica pose a threat. However, their limited availability and high costs prevent significant disruption currently.
Competitive rivalry: Large players compete aggressively on pricing. However, specialized products and applications sustain niches for all.
SWOT Analysis
Strengths: High purity quartz has unique properties making it critical for various applications. Suppliers have long expertise in mining and processing.
Weaknesses: Extraction is complex and fuel costs impact margins. Supply concentration risks shortages.
Opportunities: Expanding semiconductor industry drives demand. Solar sector growth boosts prospects.
Threats: Environmental regulations could impact mining. Substitute development remains a long-term challenge.
Key Takeaways
The global High Purity Quartz Market Share is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach over US$ 950.96 Mn by 2024.
Regionally, Asia Pacific dominates currently due to presence of major semiconductor and photovoltaic hubs in China, Taiwan, South Korea and other countries. The region is also expected to be the fastest growing market going forward.
Key players operating in the high purity quartz market are Unimin Corp./Sibelco, The Quartz Corp., Russian Quartz LLC – Kyshtym Mining – Sumitomo, Jiangsu Pacific Quartz Co., Nordic Mining, and High Purity Quartz Pty Ltd. These players have established long-term supply contracts with major end-use industries to ensure price stability and consistent supply. Unimin Corp./Sibelco, being the largest producer globally, also has geographic diversity and a comprehensive product portfolio to maintain its leading position.
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The global high purity quartz market was valued at US$ 728.11 Mn in 2017 and is anticipated to expand at a CAGR of 6.4% from 2018 to 2026, according to a new report titled ‘High Purity Quartz Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026’ published by Transparency Market Research (TMR) Rise in the demand for semiconductors is driving the market.
Heartlands of the semiconductor production are Japan, Germany, South Korea, and California.
Quartz Corp, a U.S.-based company, is capable to supply HPQ in these regions due to strategic location of its offices in the U.S. and Europe and strong team of sales and marketing in Asia.
This, in turn, would fuel the use of high purity quartz in the semiconductor industry in the next few years.
Several countries across the globe are undertaking solar projects so as to save on non-renewable sources of energy.
Solar power involves the conversion of energy from sunlight into electricity by using photovoltaic (PV) cells.
