According to a new market research report published by Inkwood Research, the Global Quartz Market is projected to grow a CAGR of 5.05% during the forecasting years of 2020-2028.
"Browse 45 Market Data Tables and 47 Figures spread over 233 Pages, along with an in-depth TOC on the Global Quartz Market Forecast 2020-2028.”
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Quartz is a hard
mineral composed of oxygen and silicon atoms crystalline in nature. It is also
known as crystalline silica, and comprises of unique electronic and electrical
features. Quartz is the second most abundant mineral after feldspar found on
the surface of the earth. It is one of the most different minerals, and its
abundant colors produce several gemstone types. Citrine and amethyst are the
most prominent and significant pearl assortments of quartz.
Surging
Demand for Semiconductors Boosts the Market Growth
Quartz can act as a
metal that is a good conductor of electricity at high temperatures, and acts as
an insulator at low temperatures. Its distinctive properties make it a
practical choice in the global technological market, beginning with the
transistor market, followed in the world of integrated circuits, and finally,
in the manufacturing of computer chips. The semiconductors industry consumes
high-purity quartz sand, high-purity quartz glass, crucibles, etc., for
different applications. The rising demand for semiconductors is anticipated to
increase the demand for high-purity quartz all over the world. Besides,
continuous innovation in varied growing technologies, such as artificial
intelligence, virtual reality, IoT, among others, holds tremendous promise for
future growth. Quartz is used within the electronics industry for its
resonators, which are highly stable and high in performance, for further use in
oscillators and filters.
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Silicon
Metal Holds the Largest Market Share in the Product Type Segment
Silicon metal
originated from quartz. Quartz is reduced to silicon in a high-temperature
melting process using carbon in an electric arc furnace. Silicon is used in the
manufacturing of solar cells, steel, and microchips. Silicon comprises of
various properties that make it perfect for semiconductor applications. The
high-purity silicon metal is used in various industries. It is used for
producing silicon wafers and silicon compounds that are used in PV solar cells
and electronic semiconductors. Aluminum manufacturers also use silicon metal to
improve strength, hardness, and castability. It is also used for the
manufacturing of photonic devices and industrial refractories. In the coming
years, silicon metal applications are expected to continue, owing to increased
demand for aluminum and chemical applications, the rapidly growing solar
industry, and the demand from electronics and batteries.
Asia
Pacific Forecasted to Record the Highest CAGR
The quartz market of Asia Pacific is
predicted to be the fastest-growing market during the forecast period. The
market analysis of the region includes the study of countries such as India,
China, South Korea, Japan, Indonesia, Vietnam, Australia & New Zealand,
Thailand, and the rest of Asia Pacific. The market is expected to grow at a
fast pace due to the production of solar PV cells, the development of the
electronic and electrical industry, and the growing exports and imports in the
region.
The various prominent companies have
well-established distribution channels in the market. Some of the leading
companies registering their presence in the global market are Compagnie de
Saint-Gobain S.A., AGC Inc, Dow Chemical Company, Elkem ASA, Kaide Quartz
Company, etc.
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