High purity quartz (HPQ) has emerged as a vital strategic material in various high-tech applications, including microcrystalline solar cells, semiconductor fused quartz, microelectronics, fiber optics, and high-intensity lighting tubing. According to Fairfield Market Research, the global high purity quartz market is poised to achieve a market worth of US$1.13 billion by the end of 2025, showing a robust CAGR of 7.5% between 2021 and 2025.
Key Highlights of the Report:
- The global high purity quartz market is projected to reach US$1.13 billion by 2025 from US$705 million in 2017, growing at a CAGR of 7.5%.
- The solar and semiconductor industry held more than 75% share in the global high purity quartz market in 2018.
- The telecommunications and broadband market, along with the rapid growth of 5G technologies, is expected to fuel the high purity quartz market growth.
Market Insights:
The expanding applications of high purity quartz in electronic component production are expected to be the primary driving force behind the markets growth. High purity quartz, containing more than 99.99% SiO2 and almost devoid of metal contaminants, plays a crucial role in high-tech industries. It is indispensable for producing electronic components, particularly in the semiconductor and solar sectors.
High purity quartz is the preferred material for high purity quartz crucibles and quartz glass products because even the slightest impurities can disrupt semiconductor conductivity. The semiconductor segment accounted for approximately 52% of the total market in 2017 in terms of value.
While quartz is abundant in nature, deposits of the high chemical quality and composition required for high purity quartz are scarce. Only certain types of natural quartz, including vein quartz, crystal, pegmatite, and metamorphic quartzite, meet the necessary purity standards.
The largest quality quartz deposits globally are located in Spruce Pine, North Carolina, U.S. This region supplies the majority of high and ultra-high purity quartz worldwide. Other key supply countries include Russia and Norway.
Growth Drivers:
Booming Broadband Market and 5G Technologies: The increasing use of optical fibers in telecommunications and broadband markets, along with the rapid development of 5G technologies, is expected to drive the fiber optics market. High purity quartz-based cladding material is essential for the efficiency of fiber optic transmission lines, making it a critical component in this sector.
Rise of Solar Energy and Environmental Concerns: The demand for high purity quartz is growing in the production of solar photovoltaic (PV) wafers, driven by the expansion of solar energy capacity and global efforts to combat climate change. High purity quartz is used in monocrystalline and polycrystalline solar panels, with monocrystalline technology gaining significant market share due to its higher efficiency.
Market Challenges:
- Concentrated Supply Sources: The global high purity quartz market faces supply challenges, with two major mines in the U.S. and Russia accounting for over 90% of total production. This concentration poses risks to the solar PV business.
- Need for Environmentally-Friendly Production Technologies: Current high purity quartz processing technologies are energy-intensive and generate significant waste. The industry seeks innovative, eco-friendly, and cost-competitive production methods to reduce waste.
Future Trends:
Innovations like the technology developed by Golovach Quartz in Vietnam, which recycles reagents without hazardous waste generation, are poised to revolutionize high purity quartz processing. Such developments are expected to set new industry standards and reduce production costs.
Browse Global High Purity Quartz Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021-2025 – [2023 UPDATE Available – Forecast 2023-2030*] (By Product Coverage(Low Grade (Sand and Powder),Medium Grade (99.99%),High Grade (99.997%),Ultra High Grade (99.999%)), Application Coverage, By Geography, Leading Companies): https://www.fairfieldmarketresearch.com/report/global-high-purity-quartz-market
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Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: [email protected]
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COMTEX_440946114/2840/2023-09-26T01:54:34
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