Rising demand for high purity quartz sand can largely be credited to the semiconductor industry, which has rapidly grown over the past half-decade, and is set to grow at the same pace over the forecast period. Demand for high purity quartz sand has risen by nearly threefold from this sector over the past five years. There are no substitutes for high purity quartz sand in the semiconductor market, which is set to ensure market growth in the long run.
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Apart from semiconductor application, solar energetics will also play a major role in the growth of the high purity quartz sand market in the coming years. Demand for high purity quartz sand has declined nearly 4% over H1 in FY2020, with the market set to return to its original form (4% CAGR) by the end of the 3rd quarter of FY2023.
Key Takeaways from Global High Purity Quartz Sand Market Study
- The global high purity quartz sand market is anticipated to create a value opportunity of around US$ 275 Mn during the forecast period of 2020 to 2030.
- Growing R&D activities to increasing production efficiency are set to benefit the high purity quartz sand market through 2030.
- East Asia and South Asia & Oceania, together, will account for nearly 50% of the global in terms of value, by 2030.
- 5N grade is the most favourable segment, which is projected to gain more than 3% over the forecast period.
- North America is set to hold one-third of the demand share by 2030 in terms of volume, and account for more than 83 kilo ton of high purity quartz sand demand, to supply the swiftly growing pharmaceutical industry in the region.
- Latin America and the Middle East & Africa markets are set to grow at a moderate pace, together, accounting for a minute demand share.
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High Purity Quartz Sand Market: Segmentation
Fact.MR has studied the high purity quartz sand market with detailed segmentation on the basis of grade, application, and key regions.
- Solar Energetics
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Manufacturers’ Stance of Maintaining Nominal Price of Product to Hurt Financials in Long Run
The high purity quartz sand market is highly consolidated in nature, with key players such as Sibelco, Quartz Corp, Russian Quartz LLC (Kyshtym Mining), HPQ Silicon Resources Inc., Nordic Mining ASA, High Purity Quartz Pty Ltd, and Jiangsu Pacific Quartz Products Co., Ltd. operating in this space. The market is near monopolistic, as a major chunk has been captured by Unimin Corporation (Sibeleco) and Quartz Corp. The U.S.-China trade war has affected price level of U.S. origin high purity quartz sand. Normalization of prices to match those set by competitors based in China is set to hurt financials in the long run.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/30/2008383/0/en/Sales-for-4-4-Dichlorodiphenyl-Sulfone-DCDPS-to-Grow-Steadily-Through-2029-Engineered-Plastics-Generate-3-4th-of-Total-Demand-Opines-Fact-MR.html
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The post Sales of High Purity Quartz Sand Market to Grow 1.5X by 2030 appeared first on The Tribune City.
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