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Fused Silica Market

Fused Silica Market

Fused Silica Market Analysis by Form (Grains, Flours), by Application (Investment Casting, Refractories, Semiconductor, Glass Substrates), by End-Use Industries, by Region -Global Forecast 2022-2032

Fused Silica Market
FACT4038MR

Global Fused Silica Market Snapshot

The fused silica market is estimated at USD 2,034 Million in 2022 and is forecast to reach USD 3,474 Million by 2032, growing with a CAGR of 5.5% from 2022-2032.

Report Attribute

Details

Market size value in 2021A

USD 1,936 Million

Market value estimated in 2022E

USD 2,034 Million

Market value forecast in 2032F

USD 3,474 Million

Global Growth Rate (2022-2032)

CAGR 5.5%

East Asia Market Share in 2021

~31%

East Asia Growth Rate (2022-2032)

CAGR 6.1%

Top 5 Companies Market Share

~43%

Key Companies Profiled

  • NOVORAY
  • Imerys Refractory Minerals
  • Corning
  • Vesuvius
  • Dupré Minerals Limited
  • Huang He Minerals Co.
  • HeNan JunSheng Refractories Limited
  • PROVENCALE S.A.
  • Quarzwerke GmbH

Fact.MR estimates fused silica market value to reach USD 3,474 million valuation by 2032 end, and projected to account for nearly ~15% of the overall silica sales value during the same timeframe.

Additionally, fused silica consumption is projected to increase with a CAGR of around 5.5% over the period of 2022-2032 with market being valued at USD 3,474 million by 2032 end, evaluates Fact.MR- a market research and competitive intelligence provider.

Moreover, production of fused silica stood at around 50 Kilo tons in 2021, accounting for 18% of total silica production and is poised to grow with a CAGR of around 5.0% with production projected to reach 85 KT by 2032 end.

Attributed to properties of fused silica such as resistance to heat and zero thermal expansion tends to provide long term mechanical and chemical stability along with significant optical properties. Hence driving fused silica’s popularity to be used in chemical and electrical & electronics industry.

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Fused silica Market Historical Outlook (2017-2021) Vs. Forecast Outlook (2022-2032)

As per Fact.MR- a market research and competitive intelligence provider, global fused silica consumption in the past half-decade has grown with a CAGR of around 5.0%. While global volume consumption by 2021 end stood at around 50 KT. Application which saw major consumption of fused silica was semiconductor. This is mainly attributed to the level of purity shown by fused silica thus making it fit to be used in semiconductor application.

Additionally, projections are that growing demand for electrical appliances and electronic devices will provide major thrust to the production of fused silica over next decade especially in high growth regions such as Asia Pacific. Asia Pacific being hub for semiconductor manufacturing is poised to infuse the demand for silica over next ten years.

Moreover, it has been estimated that fused silica consumption in manufacturing of optical parts such as mirrors, lenses and IR optics will find substantial increase. Owing to high optical transmission properties and low coefficient of thermal expansion, fused silica application in manufacturing of optical parts will increase multi fold.

Further, fused silica can withstand extreme temperatures of upto 1,200 degree Celsius which makes it suitable for deployment in applications such as solar cells, thus growing renewable setups globally is poised to boost fused silica sales in the coming decade.

Attribute to above discussed factors fused silica has been valued at USD 3,474 Million by the end of forecast period.

Why Adoption of Optical Fibres is Poised to Drive Global Fused Silica Market?

Working of optical fibre is on the general principle of total internal reflection. In order to get best results, optical fibres should be made with material which are able to carry signal sources with minimal transmission loss. Moreover, material used for manufacturing of optical fibres should comply with industrial specifications such as tamper proofing as these fibres are widely used in defence and banking services.

Fused silica tubes owing to its chemical purity and geometric tolerances are being preferred in manufacturing of optical fibres. Moreover, internet connectivity is on rise which calls adoption of optical fibres for fast services.

Attributed to above discussed factors along with rising demand for intern connectivity will drive growth of fused silica over the forecast period.

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Country-Wise Analysis

What makes South Korea Growth Driver for Fused silica Consumption? 

South Korea is among the leading consumers for fused silicon owing to the multibillion dollar semiconductor industry which exist there. Additionally, South Korea is a hub for electrical and electronic industry too which has been identified as a major consumer for silicon. Moreover, leading chipmakers in South Korea such as Samsung and SK Hynix can be seen pouring in investments for semiconductor development which will boost the demand for fused silica over the coming years.

For instance, country plans to invest a total of USD 450 Bn in chip making by 2030 which will provide major thrust to the consumption of silica in South Korea.

Attributed to these factors South Korea is poised to provide high absolute $ opportunity worth USD 300 Million through 2022-2032.   

What Makes China Prominent Region for Driving Consumption of Fused silica?

China is leading the digital ground by satisfying the demand for both its local and international consumers. Additionally, China is the leading producer of semiconductors. For instance, in 2021 China produced around 28% of the global semiconductors.

Moreover, rising electrical and electronic appliances demand in the country is another factor fuelling the growth of silica and is poised to remain the lucrative market for fused silica sales.

Thus China is projected to provide absolute $ opportunity worth USD 500 Million through 2022-2032.

Fused silica market forecast by Fact.MR

Category-Wise Analysis

Which Application in Projected to Propel Fused Silica Growth in the Market?

Fused silica application as glass substrate is poised to be the most lucrative segment for manufacturers. This is due to the fact that fused silica glass substrates are used widely in making of the optical fibres.

Additionally, amongst all glass which are used used in optical fibres, fused silica is leading the scenario, especially in for manufacturing of telecom fibres, as it showcases number of favourable properties, for example wide wavelength and good optical transparency.

Moreover, attributed to the above discussed factors fused silica application as glass substrate will provide high absolute $ opportunity worth USD 700 Million through 2022-2032.

Which End Use Will Drive the Global Fused Silica Sales?

Usage of fused silica has primarily been in electronic and semiconductor industry. Properties which have been driving the silica demand in these industries are its good insulating and dielectric properties. Additionally, electronics and semiconductor is projected to gain around 300 BPS in its market share thus accounting for around 57% of the total revenue growth by 2032.

Hence, electronics and semiconductor end use industry is poised to provide absolute $ opportunity worth USD 900 Million through 2022-2032.

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Competition Landscape

NOVORAY, Imerys Refractory Minerals, Corning , Vesuvius, Dupré Minerals Limited, Huang He Minerals Co., HeNan JunSheng Refractories Limited, PROVENCALE S.A., Quarzwerke GmbH are some of the major players in the fused silica market.

Market players involved in the production of silicon can be seen carrying out production capacity expansion to gain market share and hence competitive advantage.

Fact.MR has provided detailed information about price points of top manufacturers of fused silica positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion in the recently published report.

Key Segments

  • By Form :

    • Grains
    • Flours
  • By Application :

    • Investment Casting
    • Refractories
    • Semiconductor
    • Glass Substrates
    • Others
  • By End-Use Industries :

    • Foundry
    • Electronics & Semiconductor
    • Solar Industries
    • Photonics
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

Currently, fused silica market is valued at USD 1936 Million.
Fused silica consumption value is expected to grow at a CAGR of around 5.5% during the period 2022-2032.
In terms of consumption value, fused silica grew with a CAGR of around 5.0% during 2017-2021
Key players can been mainly seen involved in expanding their production capacity to meet the rising demand for fused silica.
Top companies in the manufacturing of fused silica are NOVORAY, Imerys Refractory Minerals, Corning, Vesuvius, Dupré Minerals Limited, Huang He Minerals Co.
China is estimated to hold around 34% of the global fused silica market.

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