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I AgreeAnalysis of High Purity Quartz Sand market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The high purity quartz sand market is expected to be worth US$ 3.4 Billion in 2022 and is expected to reach US$ 5.8 Billion by 2032, increasing at a CAGR of 5.6% between 2022 and 2032.
As of 2021, the market was valued at US$ 3.2 Billion, and is forecast to document a Y-o-Y growth rate of over 5% from 2021-2022.
Report Attributes | Details |
---|---|
Anticipated Base Year Value (2021) |
US$ 3.2 Billion |
Expected Market Value (2022) |
US$ 3.4 Billion |
Projected Forecast Value (2032) |
US$ 5.8 Billion |
Global Growth Rate (2022-2032) |
5.6% CAGR |
Growth Rate of the U.S (2022-2032) |
5.4% CAGR |
Asia Pacific Growth Rate (2022-2032) |
6.5% |
Top 5 Companies Market Share in 2021) |
48% |
Key High Purity Quartz Sand Service Providers |
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High purity quartz sand is also commonly employed in the electronics sector due to its high stability and performance. Furthermore, its piezoelectric capabilities, high melting and curing points make it suitable for use in solar applications.
High purity quartz sand's extremely precise thermal and mechanical qualities make it ideal for sand blasting, scouring cleaners, grit sawing, and sanding. This aforementioned capability is expected to increase its market price by 1.7x between 2022 and 2032.
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Fact.MR estimates that international high purity quartz sand consumption has increased at a CAGR of roughly 4.2% over the last half decade. While worldwide volume usage was estimated to be approximately 33 Kilo Tons by the end of 2021. The semiconductor industry was the largest consumer of high quality quartz sand.
Furthermore, high purity quartz sand has gained popularity in the last half-decade and is now widely utilized in watches, radios, and other electronic equipment. Increased usage of high purity quartz sand in solar panel production is expected to expand at a higher single-digit CAGR throughout the projection period. Furthermore, rising investment in the renewable sector is propelling the market for high purity quartz sand.
According to Fact.MR, increased demand for electrical and electronic components will boost high purity quartz sand usage over the next decade, with China and South Korea expected to use the most. Henceforth, the worldwide high purity quartz sand market is anticipated to grow at a CAGR of 5.6% over the assessment period (2022-2032).
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Growing Debate over Clean Energy will Drive Demand for High Purity Quartz Sand
Concerns about carbon emissions have grown in the last half-decade, as have efforts to limit their impact. As a result, firms producing solar panels have witnessed a large increase in income.
Moreover, due to its qualities such as stability, transmissivity, and heat resistance, high purity quartz sand has enabled the development of solar cells. Furthermore, quartz used in photovoltaics must be of high purity, providing an opportunity for high purity quartz sand makers to enter the renewable industry.
Rising Semiconductor and Solar Activity Widening Growth Prospects
Because of its higher quality and purity, high purity quartz is rapidly being employed in the semiconductor sector. High purity quartz allows semiconductor components to endure the high temperatures of wafer manufacturing. The increased use of new-generation wafers in semiconductors is increasing demand for high purity quartz.
Demand for high purity quartz is projected to rise in the near future as the semiconductor and solar sectors expand. Demand for high purity quartz is expected to expand in emerging markets, particularly in Asia Pacific. The worldwide electronics sector is quickly rising as demand for electronics rises in developing nations such as India, China, and South Korea.
Semiconductors and electronics contribute significantly to the demand for high purity quartz-based solutions. Demand for electronics items has increased dramatically in recent years, owing to increased consumer spending in emerging nations, increased demand for solution services, increased capability of cell phones, and increased usage of electric equipment in autos.
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Adverse Health Implications may Impede Growth Prospects
Despite the fact that high purity quartz sand is widely utilized in a range of building projects, it offers serious health risks to anybody who comes into contact with it. Working with high purity quartz sand in enclosed and poorly ventilated areas increases the risk of silica-related diseases such as silicosis (an untreated lung disease that can lead to death and disability), lung cancer, kidney disease, and COPD (Chronic Obstructive Pulmonary Disease), and certain machines can contribute to the formation of dust clouds.
As a result, precautions must be taken when working on projects that include the usage of this substance. According to the USDL (United States Department of Labor), almost 2.3 million persons in the United States are exposed to silica during work. Thus, the only significant factors projected to impede market growth throughout the forecast period are the health dangers of high purity quartz sand.
Asia Pacific is poise to dominate the global high purity quartz sand market, accounting for around 55% of the global volume consumption. Additionally, region is projected to drive with a CAGR of around 6.5% in term of volume from the period 2022-2032.
Estimations are that China and Japan combined will itself account for around 65% of the total high purity quartz sand consumption in Asia Pacific. This will mainly be possible owing to the massive investment in manufacturing of solar PV and semiconductors.
Moreover, the Chinese government is also determined to spend around US$ 350 Billion on clean and renewable energy by 2025 which will drive the quartz market at significant pace in the region. Attributed to above discussed factors Asia Pacific is poised to provide high absolute $ opportunity worth US$ 600 Million over next decade.
Europe is leading the clean energy transition with countries such as UK, Denmark and Sweden focusing more on wind turbines and solar panels installations. For instance, Europe plans at installing solar panels at such as rate that 20% of the region’s electricity is produced from solar energy.
Additionally, installations being done at such substantial rate would require manufacturing of PV which would propel high purity quartz sand consumption in Europe. Owing to above discussed factors Europe is poised to provide high absolute $ opportunity worth US$ 800 Million over the year 2022-2032.
HPQ application for producing semiconductors has been identified as the second most lucrative segment thus accounting for around 22% of the total volume consumption.
This is mainly attributed to the growing consumption of electronic and electrical appliances mainly in high growth regions such as Asia Pacific. Hence, semiconductor application is estimated to provide absolute $ opportunity worth US$ 600 Million over the coming decade.
Deployment to be Maximum across Solar Energetics
Quartz application for solar Energetics is set to gain a significant market share. Solar panel installation costs have grown dramatically over the years all around the world. This has given producers a significant boost, enhancing their income production potential.
For example, solar Energetics application is expected to account for about 35% of total high purity quartz sand in 2022 and to give the biggest absolute $ potential worth US$ 1 Billion throughout the projection period.
Some of the major players in the high purity quartz sand market include:
Major players among the aforementioned entities have expressed interest in vertical integration, which would lessen their reliance on suppliers and provide them with a competitive edge.
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As of 2021, Fact.MR estimated the high purity quartz sand market to have reached US$ 3.2 Billion
By 2022, Fact.MR expected demand for high purity quartz sand to reach US$ 3.4 Billion
From 2017-2021, the high purity quartz sand market grew at a 4.2% value CAGR
From 2022-2032, high purity quartz sand demand is likely to surge at a 5.6 % CAGR
By 2032, the market for high purity quartz sand is likely to be valued at US$ 5.8 Billion
By 2032, Fact.MR expects the Asia Pacific market for high purity quartz sand to account for 55% revenue
Solar energetics application is expected to grow at a CAGR of 5% during the forecast period.