High Purity Quartz (HPQ) Market to Reach US$ 1.7 Bn by 2030; COVID-19-related Disruptions in HPQ Supply Chain and Semiconductor Industry Hurting Market Growth
Published On : Jul 08, 2020
High purity quartz is quartz (SiO2) with 99.99%+ purity, and is very rare. Most naturally occurring quartz contain a variegated range of impurities, among which, contamination from substantial elements such as Al, Ti, and Li are impossible to remove, if structurally bound to silica. The growth of the high purity quartz (HPQ) market is majorly driven by increasing demand from the electronics sector. In terms of geographical perspective, demand is majorly driven by East Asia and Europe, especially from China, Germany, etc. HPQ’s significant characteristics such as consistent quality, and negligible amount of impurities as compared to general silica sand, make it more preferable.
As a result of all of these beneficial properties, the demand for high purity quartz is estimated to gain momentum across the world. The global high purity quartz market is estimated to expand at a CAGR of 7% by value during the forecast period of 2020-2030.
Key Takeaways from High Purity Quartz Market Study
- Owing to high price and utmost purity level, the demand for high purity quartz is expected to rise for end-use applications during the forecast period.
- Based on grade, grade III high purity quartz is gaining traction in the market, owing to its superior purity of 99.999%. Also, it falls under the IOTA 8 standard, which is the highest quality standard required for electronic components.
- Increasing sales of consumer electronic products, rapidly expanding broadband market, and huge investments in 5G infrastructure are significantly driving the demand for HPQ, particularly from major optical fiber manufacturers, most of which are based in the U.S. and China.
- East Asia is expected to hold a prominent share in the global high purity quartz market, owing to rapidly growing end-use applications in the region.
“Owing to the COVID-19 impact, the global supply chain of high purity quartz has been greatly impacted, especially in China, which is a hub of the semiconductor industry. Disruption in China is expected to have a significant impact on tier-1 and tier-2 companies across the globe, both up and down the electronics value chain. Also, increasing prices of feedstock would result in tightened profit margins, pushing suppliers to quote higher prices for HPQ during the assessment period,” says a PMR analyst.
HPQ Market Landscape
The market for high purity quartz is highly competitive, with a great degree of consolidation. Increasing focus on product development and adoption of new processes or methods, such as innovative supply chain method, is a one of the key strategies in the high purity quartz market. Key players in the HPQ market such as Covia Holdings Corporation, The Quartz Corp, Russian Quartz LLC, Jiangsu Pacific Quartz Co., Ltd, High Purity Quartz Pty Ltd, I-Minerals Inc, Creswick Quartz, and Nordic Mining ASA are focusing on marking their direct presence in local markets.
What Does the Future Hold?
High purity quartz has a diverse range of applications in several end-use industries, based on the purity level of the quartz. New and innovative production technologies that can increase purity with high yield of end products and simultaneously reduce overall production time and cost are expected to positively impact the supply of high purity quartz to end users over the coming years.
Want to Know More?
Persistence Market Research has published a market research report on the high purity quartz market that contains global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. The report provides insightful analysis of the high purity quartz market through three different segments – grade, end use, and region. The HPQ market report also provides supply and demand trends, a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the parent market.
For additional insights on how the high purity quartz market will shape up over the next decade, write to firstname.lastname@example.org
About PMR – Chemicals and Materials
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High Purity Quartz Market
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