Market Size of High Purity Quartz Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 672.93 Million |
| Market Size (2029) | USD 847.46 Million |
| CAGR (2024 - 2029) | > 4.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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High Purity Quartz Market Analysis
The High Purity Quartz Market size is estimated at USD 672.93 million in 2024, and is expected to reach USD 847.46 million by 2029, growing at a CAGR of greater than 4.5% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak, the semiconductor industry was significantly affected. It, in turn, unfavorably impacted the consumption of high-purity quartz. However, semiconductor companies across the globe were focusing on the implications of some near-term actions in response to COVID-19, such as ensuring that vendors and supply chain partners include business continuity plans in place and maintaining cyber vigilance. The market grew steadily as semiconductor production observed growth in 2021 and 2022 and is expected to grow over the forecast period.
- Over the short term, growing demand for high-purity quartz in the manufacturing of semiconductor ICs, coupled with increasing adoption of HPQ in the solar industry across the globe, are some of the driving factors that are stimulating the market demand.
- However, fluctuating prices of raw materials for high-purity quartz are a major factor hindering the growth of the target market.
- Nevertheless, growing preferences for high-purity quartz in the manufacturing of Si metal and growth of the solar energy sector are likely to create gaiful opportunities over the forecast period.
- Asia-Pacific region is likely to dominate the market and is also expected to witness the highest CAGR during the forecast period. This growth is attributed to massive investment in solar plants in China, India, Japan and ASEAN Countries.
