May 12, 2020
Fused Silica Market to Experience Significant Downturn amid COVID-19, Market to Witness Sustained Growth Post-2020, Projects Fact.MR
by Team Fact.MR
The global fused silica market is forecast to flourish at a steady CAGR of 5.5% over the forecast period (2020-2030), reveals Fact.MR in a recently published report. As per the report, the market is forecast to cross US$ 992 Mn by 2030 end. Fused silica powder has been identified as an important raw-material across several end-use industries. These include refractories, electronics industries and photonics to name a few. This is primarily due to its high silicon dioxide content and dielectric properties. The purity of fused silica remains a key growth determinant in the global fused silica market. For this purpose, manufacturers have been producing different forms of fused silica such as grains and flour which vary based on mesh sizing.
However, the ongoing COVID-19 pandemic has disrupted the overall supply of fused silica. Nationwide lockdowns and mandatory social distancing measures have compelled manufacturers to cease production activities, generating a demand-supply gap.
Key Takeaways of Global Fused Silica Market Study:
- Europe has remained the dominant region in terms of consumption of fused silica powder, accounting for over one third of market share by 2020 end. An increase in demand for advanced telecommunication networks such as 5G, 4G and 3G is a driving force behind the surging popularity of fused silica powder.
- East Asia is the fastest growing market for fused silica since the last decade. This region has been identified as a growth epicenter for electronics and foundry industries, accounting for the bulk of fused silica demand. However, year on year increment in 2020 will drop drastically due to the ongoing coronavirus pandemic, as production cycles have been impacted.
- The global fused silica market reflects strong growth, registering an absolute value opportunity of around US$ 410 Mn by 2029 end
- Largest value opportunity was registered by the glass substrates application, whose demand is anticipated to grow 1.8X the current demand, as fused silica glass is the dominating material in fiber optics, particularly for optical fiber communications and i-e telecom fibers
- Foundries accounted for the second largest market share amongst all end use industries. However, by 2030 end, it is anticipated to lose 175 BPS
“Fused silica has been traditionally used as a refractory mineral and glass substrate in the semiconductors & electronics industry. However, in recent years, newer and novel applications of fused silica in specialized devices such as the advanced virgo interferometer has gained immense popularity,” says a Fact.MR analyst.
Vertical Integration and Product Innovation Remain Prime Market Strategies of Market Players
The global fused silica market is fragmented in nature. Leading market players are adopting backward and forward integration for acquiring a higher cut in the price margin. Premium glass suppliers such as Corning, Morgan Ceramics and other players, which were originally glass optics manufacturers, turned to self-consumption of fused silica manufacturing to their own benefit. Furthermore, as prices of raw materials such as silica quartz have been fluctuating worldwide, manufacturers have to adjust the prices accordingly. Some global manufacturers have targeted special product specifications by closely monitoring market attractiveness. For instance, Corning has targeted IR, UV and mirror grade for fused silica glass substrates.
More Valuable Insights on Fused Silica Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global Fused Silica market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the Fused Silica market on the basis of form (grains and flours), application (investment casting, refractories, semiconductor, glass substrates and others) and end use industry (foundry, electronics & semiconductor, solar industries and photonics) across six major regions.
>>> To Get more insights on Fused Silica market, visit- https://www.factmr.com/report/4038/fused-silica-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.