Synthetic Quartz Market: Overview
In 2020, the overall sales of the synthetic quartz witnessed a massive decline due to the Covid-19 crisis as lockdown was implemented and all the factorial units were closed which led the manufacturing companies to face immense losses. Now in 2021, the global manufacturers are giving entire focus on improving their sales and profitability through product innovations and upgrades.
Leading corporations including NIHON DEMPA KOGYO, TXC Corporation, Kyocera, Murata Manufacturing, Seiko Epson, Asahi Glass, Coorstek, Daishinku Corporation (Kds), Heraeus Holding, HTL Industries Sdn Bhd, Hubei Feilihua Quartz Glass Co., Impex Hightech and others are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings. They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc to lead the global market for synthetic quartz with largest market share.
For instance, Murata, teamed up with industry leaders such as Sony Semiconductor, STMicroelectronics, and Truphone to commercialize global LTE-M1/NB1 IoT solutions in order to enable rapid deployment of new IoT products. The type 1SE is an ideal device for numerous IoT applications and is certified as a host device that helps in erasing integration challenges. It is claimed to lessen the development time for the end devices to use the certificate incorporated for the 1SE module. The collaboration will help Murata develop a global connectivity solution that will eventually enable customers to realize their IoT products. In addition to this, Murata signed a sales agreement with Crocus Technology for TMR sensors. Asia Pacific region is expected to show a significant growth owing to the emergence of new players and adoption of various policies by the governments of various countries. The North American and European region is projected to be lucrative through 2030. All the other key regions are driving the market growth and opening various opportunities for manufacturers.
Introduction: Synthetic Quartz Market
Quartz are the second most abundant mineral available in the earth’s crust and mainly composed of materials like oxygen and silicon and having chemical formula Sio2. Quartz are categories in the natural as well as in synthetic form. Synthetic quartz are manufactured in the autoclave reactor by the hydrothermal process. The key raw materials for the manufacturing of the synthetic quartz are, dolomite, soda ash and silica sand. In order to show its attractiveness, synthetic quartz are coated with the metal vapours. Currently, synthetic quartz is used for the industrial application all over the globe. These synthetic quartz contains small amount of alkaline metals which may result into reduction in the efficiency of the quartz. Synthetic quartz are widely used in several end use industries such as, electronics, automobile, construction, etc. Synthetic quartz possess significant properties which makes them more popular throughout several end use industries. On the characteristics perspective, synthetic quartz’s optical and electrical properties play an important role in the global synthetic quartz market over the forecast period.
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Market Dynamics: Synthetic Quartz Market
The global synthetic quartz market is primarily driven by the increasing growth in the manufacturing and construction sectors. Application of synthetic quartz in automobile and electronics industries is expected to fuel the demand of the synthetic quartz market globally. Other key driver for the market growth is the increasing growth in the end-user customers. The synthetic quartz products like crystals and glass are used by the household consumers. However, the synthetic quartz products are by many manufacturing industries in order to pack the various products in it for the selling to end use customers. Increasing architectural and engineering trend toward the increasing use of synthetic quartz in building facades is also driving the synthetic quartz market.
Increasing trend in the innovative research and development for the manufacturing of the specialized and advanced as well as customized products is expected to act as one of the major opportunities for synthetic quartz market. Moreover, introduction of eco -friendly synthetic quartz products is also acting as an opportunity in the global synthetic quartz market. One of the major restraints which can hamper the market growth is the increasing price of the raw materials. Owing to increasing prices of the raw materials as well as import and export duty over the same also acts as a challenge for the synthetic quartz market in between the forecast period.
Regional Outlook: Synthetic Quartz Market
On the basis of region, GDP growth forecast of the Asia Pacific is expected to be significant in the near term owning to serval policies adopted by government in the manufacturing and services sector, it has been observed that global economic growth is likely to impact the synthetic quartz market over the forecast period. Key developments in the North America and Western Europe industries are anticipated to have a high impact on the synthetic quartz market. Capital expenditure growth of the ASEAN countries plays a vital role and has a major impact on the synthetic quartz market; consequently, maintenance expenditure in the end use is anticipated to affect the synthetic quartz market.
Some of the key players of the synthetic quartz market are:
- NIHON DEMPA KOGYO
- TXC Corporation
- Murata Manufacturing
- Seiko Epson
- Asahi Glass
- Daishinku Corporation (Kds)
- Donghai County Jinglei Quartz Products Co. Ltd.
- Heraeus Holding
- HTL Industries Sdn Bhd
- Hubei Feilihua Quartz Glass Co.
- Impex Hightech
- Universal Quartz
- Wuxi Labcells Technology Co., Ltd.
- Yuzhnouralsk Plant Kristall
- Welltech Minerals
- Quartz Stone (I) Pvt Ltd
The research report presents a comprehensive assessment of the synthetic quartz market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic,
- Eastern Europe(CIS and Russia)
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East & Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The synthetic quartz report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR
Market Segmentation: Synthetic Quartz Market
Synthetic quartz market is segmented on the basis of product type and application
On the basis of product type, the synthetic quartz market is segmented as
On the basis of application, the synthetic quartz market is segmented as
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