Quartz Market

Quartz Market Size-(2023-2028)

The Quartz Market size is estimated at USD 7,022.65 million in 2022 and is expected to reach USD 8,622.46 million by 2028, growing at a CAGR of 4.19% during the forecast period (2023-2028).

Quartz Market Overview:

Quartz is a widely occurring mineral that is present in various forms and primarily composed of silicon dioxide (SiO2), commonly known as silica. It is abundantly found in the Earth's crust, ranking as the second most abundant mineral after feldspar. Quartz is found in a diverse range of rocks, including acid-igneous, metamorphic, and sedimentary rocks. It is particularly significant in silica-rich felsic rocks such as granites, granodiorites, and rhyolites. The extensive utilization of quartz can be attributed to its versatile properties. Crushed quartz serves as an abrasive material commonly used in sandpaper, while silica sand finds applications in sandblasting processes. Natural sandstone, in its original form, is utilized for crafting whetstones, millstones, and grindstones. Silica glass, also known as fused quartz, is highly valued in optics due to its ability to transmit ultraviolet light. Fused quartz tubing and vessels play a crucial role in laboratory settings, and quartz fibers are employed in the production of highly sensitive weighing devices.

Quartz Market Drivers:

Rising demand in the solar industry:

Fused quartz plays a crucial role in enhancing the efficiency of solar-powered electronics and contributes to reducing the cost of solar equipment for researchers. The growing awareness among consumers about the importance of green energy generation has led to an increased demand for the quartz market. This surge in demand is driven by the rising investments in solar capacity installation globally, as the demand for solar panels continues to grow. The solar sector's increasing need for synthetic quartz is expected to further propel the market's growth. The expansion of the solar power industry has resulted in a significant number of PV solar power station installations, and the widespread adoption of solar energy as a clean and renewable power source has created a higher demand for quartz. This demand is particularly evident in subsegments such as high-purity quartz and quartz tubing for photovoltaics, which are utilized in the production of PV cells for solar energy applications. Furthermore, the escalating demand for solar panels is likely to sustain the demand for quartz in the solar industry.

Growing demand for quartz in the automotive sector

The automotive industry holds substantial importance in the quartz market. Synthetic quartz is extensively used in various electrical applications within automobiles, including displays, sensors, and other components. As the automotive industry enters a new era of electronics, with advancements in connectivity and safety systems, the demand for synthetic quartz is expected to rise. The rapid industrialization in the Asia Pacific region has contributed to the increased demand for synthetic quartz from both the automotive and electronics industries. This growth is particularly observed in the subsegments of the synthetic quartz market that cater to applications in these sectors, ultimately driving the quartz market growth.

Quartz Market Restraints:

Damages and the high price of the product

The demand for synthetic quartz is primarily reduced by its limited heat resistance capabilities beyond a certain threshold, which can result in damage and burning at higher temperatures. Additionally, the cost of raw materials and synthetic quartz particles is a significant factor inhibiting the quartz market growth. Damages to quartz products can significantly shorten their lifespan or render them non-functional, leading to consumer frustration and dissatisfaction. Moreover, the high prices of quartz products can create affordability issues for some consumers, limiting the potential customer base to those who can afford the premium pricing.

Quartz Market Opportunities:

Rise in government initiatives for the use of solar energy

The synthetic quartz market is poised for significant growth due to various government initiatives introduced in the solar energy industry. These initiatives create vast opportunities for market expansion. Additionally, factors such as increased consumer spending, widespread smartphone usage, technological advancements, and the demand for high-performance electronic devices contribute to favorable prospects for quartz market shares. Collaborations between major manufacturers and leaders in the electronics industry for the rapid deployment of new Internet of Things (IoT) devices further fuel the quartz market values.

Impact of COVID-19 on the Quartz Market:

The quartz industry, like many others, has been significantly impacted by the COVID-19 pandemic. The global health crisis has led to a devastating effect on businesses worldwide, including those in the quartz sector. The demand for synthetic quartz material has experienced a significant decline during this challenging period. Additionally, the quartz business has been affected by disruptions in the supply chain of the solar industry, further exacerbating the challenges faced by the market's key players.

Key developments in the Quartz market

• In December 2022, Sibelco completed the acquisition of Bassanetti Group, an Italian company operating in the extraction, processing, and distribution of sand products in Southern Europe. This strategic move aims to enhance Sibelco's presence and market position in the Southern European region.
• In March 2022, AGC Inc made the decision to cease its operations and business activities in Russia and Ukraine due to the prevailing war conditions in these countries.

QUARTZ MARKET REPORT COVERAGE:

Quartz Market Segmentation:

By Type 

• Quartz surface & tiles

• High-purity quartz glass

• Quartz crystal

• Silicon metal

Quartz surfaces and tiles play a dominant role in the quartz market, offering versatility and application in various areas such as kitchens, bathrooms, and high-traffic living spaces. Unlike natural stone, quartz is a durable material that finds applications in countertops, flooring, walls, and tiles, contributing to enhanced architectural designs. Quartz countertops offer a blend of aesthetic appeal and practicality, while quartz flooring provides durability and stylish options. Additionally, high-purity quartz (HPQ), which contains over 99% silicon dioxide and minimal impurities, is utilized in industries like semiconductors, solar energy, fiber optics, and lighting. HPQ's exceptional purity makes it essential for the production of high-tech products. High-purity fused quartz, derived from HPQ, exhibits a wide range of optical, mechanical, and thermal properties that are crucial for manufacturing various advanced technological products.

By End-User Industry:

• Electronics and semiconductor
• Solar
• Buildings & construction
• Optics & telecommunication
• Automotive

The quartz market has a significant portion dedicated to the electronics and semiconductor industry. Quartz is widely utilized in this sector to ensure reliable performance in electrical equipment, particularly in resonators. In the semiconductor industry, naturally occurring pure quartz is utilized in the production of silicon wafers. Pure quartz sand is a key ingredient in manufacturing silicon metal semiconductors used for transistors, integrated circuits, microelectronics, and silicon chips. Furthermore, quartz serves as a piezoelectric cell, capable of generating electricity when subjected to stress and exhibiting a reversible effect.

By Region:

• North America
• Europe
• Asia Pacific 
• Latin America 
• Middle East and Africa

The Asia Pacific region holds a dominant position in the quartz market, primarily driven by the rapid expansion of the electronics industry. The region benefits from low production costs, particularly in India and China, contributing to market growth. China is the largest manufacturer of quartz globally. In India, quartz finds diverse applications, including watches, floor tiles, and molding. The United Arab Emirates heavily relies on India for 90% of its quartz imports. As a strategic regional center, the UAE plays a crucial role in the Middle Eastern electronics trade flows. Dubai, in particular, is an attractive market for consumer electronics, with significant consumer expenditure. The continuous population growth in the UAE is a key factor propelling the demand for electronics, which, in turn, drives the demand for quartz as a vital component in electronic device manufacturing.

Key market players in the quartz market

• Thermofisher Scientific

•  Creswick Quartz

• Saint Gobain S.A.

•  Baba Quartz

•  Quality Quartz Engineering

•  Caesarstone Ltd

• Momentive

•  DuPont

• Quartz Corporation