Quartz Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The quartz market was valued at around USD 6.1 billion in 2020, and the market is projected to register a CAGR of more than 5% during the forecast period (2021-2026).

COVID-19 has halted the supply chain of several industries, including electronics and semiconductors, building and construction, automotive, etc., around the world. This, in turn, adversely affected the demand for quartz in these industries. The usage of solar power has increased, but this alone could not lift the market back. European Construction Industry Federation (FIEC) stated that there is a 20% fall in the construction activity in Europe for the year 2020, compared to 2019. However, as the lockdowns were lifted in most of the countries around the world, the market is expected to recover, owing to the production being resumed in most of the industries.

• Over the mid-term, the major factor driving the growth of the market studied is the demand for high-purity quartz in the semiconductor industry, coupled with the growing solar industry.
• The ecological impact of quartz mining, coupled with discoloration in quartz tiles and slabs, is anticipated to hinder the market’s growth during the forecast timeframe.
• The electronics and semiconductor industry is expected to dominate the global market during the forecast period.
• Emerging applications of quartz powder, owing to its unique properties, can act as an opportunity for the market.
• Asia-Pacific dominated the market across the world, with the largest consumption from China.

Scope of the Report

Quartz crystals possess piezoelectric properties. It is one of the hardest naturally occurring minerals that does not corrode easily. The market is segmented by type, end-user industry, and geography. By type, the market is segmented into quartz surface and tile, high-purity quartz, fused quartz crucible, quartz glass, quartz crystal, quartz sand, plastic foam, and other types. By end-user industry, the market is segmented into electronics and semiconductors, solar, buildings and construction, medical, optics and telecommunication, and other end-user industries. The report also covers the market size and forecasts for the quartz market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

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Key Market Trends

Rising Demand from the Electronics and Semiconductor Industry

• Quartz is used within the electronics industry for its high stable, high-performance resonators for further use in filters and oscillators. Quartz possesses various properties for the electronics industry, including piezo-electric properties, as its melting point is above 1700º C and its curing temperature is 573º C.
• There has been an increasing demand for quartz from the electronics industry. This is because of its increasing usage in devices, such as mobile phones, tablets, laptops, and desktops.
• Additionally, quartz crystal is used as an oscillator in radios, watches, and pressure gauges. Quartz crystal is also used to make frequency filters, frequency controls, and timers in electronic circuits for a wide range of products, such as communication equipment, computers, electronic games, and television receivers.
• The electronics manufacturing market in Asia-Pacific is expected to grow rapidly during the coming years due to the presence of a large number of OEMs in the region. Low cost and the availability of raw materials, coupled with cheap labor, are driving the growth of the sector. The companies in the region provide manufacturing and assembling services to companies in Germany, France, and the United States. Moreover, these companies are rapidly digitizing their business to achieve end-to-end integration of their operation. This is further encouraging the OEMs from Europe and North America to outsource their production to Asia-Pacific.
• China dominates electronics production in the global market. The country’s electronics production, which was steadily increasing through the years, has recently suffered from deceleration owing to the ongoing trade war between China and the United States, forcing various electronics producers to shift their base from China to other countries in the Asia-Pacific region.
• In India, electronics production was valued at around USD 63.62 billion in 2018-2019. The National Policy on Electronics 2019 planned to advance local assembling and fare in the whole worth chain of Electronics System Design and Manufacturing (ESDM) to accomplish a turnover of USD 400 billion by 2025.
• Though electronics production is increasing in major countries of the world, the semiconductor industry is, however, registering a decline in revenue at present. According to The Semiconductor Industry Association (SIA), the global semiconductor industry sales stood at USD 412.1 billion in 2019, registering a decline of 12.1% compared to that of 2018. Ongoing global trade unrest and cyclicality in product pricing were the major reasons for the decline in semiconductor sales in 2019. Declining sales further affected semiconductor production globally.
• Post this decline in the semiconductor industry, the market witnessed further slowdown owing to the COVID-19 outbreak and shutdown of production facilities across the globe.
• However, countries such as China, one of the major consumers of semiconductors, are trying to ramp up semiconductor production. In 2019, Beijing, the capital of China, highlighted semiconductors as a key area of the Made in China 2025 plan, a government initiative that aimed to boost the production of higher-value products. China is aiming to produce 70% of the semiconductors it uses by 2025.
• Owing to such factors, the demand for quartz is likely to witness rapid growth from the electronics industry.

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