Synthetic Quartz Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMA2137 | Last Updated On: Aug 01 2022 | Available Formats

> Global Synthetic Quartz Market Expected to reach a high CAGR of 5% By 2029: DataM Intelligence

Global Synthetic Quartz Market is segmented By Type (Crystal, Glass), By Application (Electronics & Electrical, Automotive, Construction, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Market overview

Quartz is the second most abundant mineral in the earth's crust, and it is primarily composed of materials such as oxygen and silicon, with the chemical formula Sio2. Quartz can be found in both natural and synthetic forms. The hydrothermal process is used to create synthetic quartz in the autoclave reactor.

Market Dynamics

Drivers

Increasing demands for synthetic quartz in the electronics industry is expected to boost the market.

In the coming years, the growing semiconductor industry is expected to boost the market for synthetic quartz. Synthetic quartz is resistant to acids, corrosion, extreme heat, wear, impact, compression, bending, and infiltration. Because of its favorable chemical and physical properties, synthetic quartz is an important material in the electronics industry. Synthetic quartz is used in photomask substrates for semiconductor circuit integration and LCD panels. They also are a crucial part of manufacturing semiconductors for making many electronic devices such as laptops, TVs, smartphones etc. According to data, in 2020, the semiconductor sales on a global scale amounted to over 460 million dollars from the 420 million dollars in 2019, an increase of approximately 10%, and this number is expected to grow during the forecast period. The rising demand for smartphones is also expected to boost the synthetic quartz market. In 2020, approximately 1380 million units of smartphones were sold on a global scale, this number increased to an estimated 1535 million units by May 2021, itself, an 11% increase in sales. Coincidentally, the smartphone semiconductor market was valued at 105 billion US dollars in 2019, and this is expected to increase during the forecast period. These factors will boost the demand for the synthetic quartz market.

Growing demand for synthetic quartz in the solar energy industry is expected to boost the market.

Fused quartz is a critical material because it improves the efficiency of solar-powered devices. It is also assisting researchers in lowering the cost of solar devices. And, as people become more aware of the importance of green energy production, the demand for solar panels will rise, as will investment in solar capacity installation around the world. For example, solar industry in USA generated more than $25 billion in private investment in the economy in 2019. In 2020, solar energy installations in USA accounted for 43 percent of all new electric capacity added to the grid, the highest share in history and the second year in a row that solar added the most generating capacity to the grid. Government initiatives to promote the use of solar energy will also drive the synthetic quartz market. For instance, in India itself, a Solar Park scheme has been set up by the MNRE which offers financial support by the government for creating solar power projects that have a capacity of almost 500 MW.

Restraints

The factors restraining the Synthetic Quartz market include increasing raw material prices.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected industries all over the world, including the synthetic quartz industry. Demand for synthetic quartz material has overseen a small but significant drop during the pandemic. For example, in 2020, the global smartphone sales dropped from 1540 million units in 2019 to approximately 1380 million units, a 11.6% decrease in sales. This affected the demand for synthetic quartz, which is used in the semiconductors that are used in smartphones. Supply chain disruptions in the solar industry has also affected the synthetic quartz market. The expensiveness of the raw materials needed to manufacture synthetic quartz plays a key factor in the reduced demand for this as many companies are financially suffering due to bad business in the pandemic. But as the global economies recover, it is expected that the synthetic quartz market will improve in its growth in the forecast period.

Segment Analysis

The Global Synthetic Quartz market is segmented by Application, by Region and by Type.

Based on Application

The Global Synthetic Quartz market based on application is segmented into Electronics & Electrical, Construction, Automotive and Others.

Electronics and electrical have a greater dominance in the Synthetic Quartz application segment, as rising solar and semiconductor industries have led to significant growth in the electronics sector. According to data, approximately 40% of the world's total population owned a smart device in 2018, and the smartphone penetration rate has continued to rise, with the rate expected to reach nearly 47 percent by 2020. By 2025, it is expected that nearly 90 percent of all mobile users in the United States will own a smartphone, up from 27 percent in 2010. Since synthetic quartz is a key material that is used in the manufacturing of semiconductors that are used in smartphones, we expect the synthetic quartz market to grow during the forecast period. Moreover, there has been an increase in use of quartz in navigation systems and wireless device manufacturing, which are used in smart cars. According to a survey conducted in China, majority of the citizens aware about the advanced navigation systems and wished to use them in their cars. These were approximately 90% of the total respondents. Due to these factors, the automotive market segment is expected to grow at the highest CAGR during the forecast period.

Based on Type

The Global Synthetic Quartz market based on type is segmented into Crystal and Glass.

Based on Region

The Global Synthetic Quartz market based on Region is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa.

The market for Synthetic Quartz is dominated by Asia-Pacific region. China, India, Japan, Australia, and the rest of APAC comprise the Asia-Pacific Market. Due to rapid industrialization in the Asia Pacific region, and increased demand for synthetic quartz from the electronics and automotive industries, the APAC market region is expected to grow at a high CAGR rate during the forecast period. For instance, according to data, China accounted for approximately 150 billion US dollars in semiconductor sales in 2020, with the rest of the Asia Pacific region accounting for over 116 billion US dollars in semiconductor sales. According to data on smartphone shipments in 2020, China shipped over 320 million units, accounting for approximately 25% of total global smartphone shipments. The popularity of smartphone usage in APAC region is expected to increase during the forecast period, which will drive the synthetic quartz market.  However, due to increased demand for quartz for solar panel production, North American region trails APAC in terms of market share of Synthetic Quartz Market. For example, the United States installed 2.1 gigatons (GW) of solar PV capacity in the second quarter of 2019 to bring total installed capacity to 69.1 GW, enough to power 13.1 million American homes. In Q2, the utility-scale solar pipeline reached a new high of 37.9 GW. Total installed PV capacity in the United States is expected to more than double over the next five years, with more than 15 GW of PV capacity installed by 2024. According to data, the North American region's semiconductor sales totaled 94.1 billion US dollars. Due to these factors, the North American synthetic quartz market is estimated to grow at a high CAGR during the forecast period.

Competitive Landscape

With the presence of numerous global and regional players, the Global Synthetic Quartz Market is fragmented. To differentiate themselves as strong market competitors, key players are implementing strategies such as R&D investment, new product launches, and distribution channel expansion. The key players of the Synthetic Quartz market include companies such as Universal Quartz, Impex Hightech, Kyocera, TXC Corporation, Heraus Group, AGC Inc., Saiko Epson, Coorstek, Asahi Glass, Universal Quartz and many more.

Company Profile: Kyocera

Overview: Kyocera is a Japanese company that was founded in April 1959 in the Japanese city of Kyoto. It initially started as a manufacturer of ceramics, but eventually entered the automotive, electronics and solar industries.

Product Portfolio: The company specializes in manufacturing materials significant to electronics and ceramics industry such as semiconductors, telecommunications hardware, optics, automotive components and many more.

Recent Developments:

1) On February 10, 2021, Kyocera announced the release of  its 0.5mm-pitch 5652 Series Electronic Connectors to be used in the Automotive industry.

2) Soraa Laser Diode, Inc. became part of the Kyocera Group in January 2021 as Kyocera SLD Laser, Inc.

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**The global Synthetic Quartz market report would provide access to an approx., 53 market data table, 60 figures, and 200 pages.

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