“High purity quartz sand price fluctuation can largely be assessed to macroeconomic factors such as the COVID-19 pandemic and U.S.-China trade war,” says a Fact.MR analyst.
Dubai, United Arab Emirates -- (SBWIRE) -- 12/02/2020 -- The high purity quartz sand market is projected to grow at a steady CAGR through 2030. The report suggests that the growth of the market is majorly attributed to the continual demand for high purity quartz sand in the semiconductor industry, where it is used in the production of several components. However, the outbreak of COVID-19 has disrupted the steady growth trajectory of the market as operations in the chemical and manufacturing sectors have come to a screeching halt.
"While adoption in the semiconductor industry is poised to remain a crucial growth attribute, increasing demand in the solar energetics is also expected to bestow lucrative revenue opportunities in the years to come," says the Fact.MR report.
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High Purity Quartz Sand Market - Key Takeaways
The global high purity quartz sand market is forecasted to offer an incremental opportunity worth US$ 275 Mn between 2020 and 2030.
Based on grade, the 5N purity segment is poised to remain the largest segment, backed by soaring demand in the semiconductor industry, and will grow at 3% CAGR during the forecast period.
By application, the usage of high purity quartz sand is expected to remain majorly concentrated in the production of semiconductor products.
On the other hand, the solar energetics application segment is anticipated to grow at a faster pace than other applications.The
Asia Pacific is projected to account for more than half of market value, backed by the presence of China, the largest producer of semiconductors in the world.
North America is poised to remain the second most lucrative region, accounting for over 2/3rds of market share.
High Purity Quartz Sand Market - Driving Factors
Demand for high purity quartz sand will grow in direct proportion to the growth of the semiconductor industry.
Growing adoption in the solar energetics and optics, owing to their physical properties, is also expected to bestow substantial revenue opportunities.
High Purity Quartz Sand Market - Constraints
Volatile prices in the US as a result of the US-China trade war and the subsequent fluctuations in the import and export activities will remain a key challenge to market growth.
The restricted availability of raw materials is holding back the swift growth of the market.
Anticipated Market Impact by Coronavirus Outbreak
As a result of COVID-19, operations in the manufacturing and chemical industries have been suspended in China in the first quarter of 2020, and the semiconductor industry is no exception on this front. Being the largest consumer of high purity quartz sand, terminated operations in the semiconductor industry have led to the downfall in demand, pushing the growth of the market into uncertainty. Adding to the burden, the ongoing trade war between China and the US, two of the largest regional markets for high purity quartz sand, continues to challenge smooth trading. However, operations in China are gradually restarting, thus mitigating the long-term impact on growth to an extent.
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Competition Landscape
The key players operating in the high purity quartz sand market include, but not limited to, Sibelco, Quartz Corp, Russian Quartz LLC (Kyshtym Mining), HPQ Silicon Resources Inc., Nordic Mining ASA, High Purity Quartz Pty Ltd, Jiangsu Pacific Quartz Products Co., Ltd, and others. Market players are directing their efforts towards research in order to reduce the cost of the products and cater to a wider consumer segment.
More on the Report
The FACT.MR's market research report provides in-depth insights into the High Purity Quartz Sand Market. The market is scrutinized on the basis of grade (3N, 4N, and 5N) and application (semiconductors, solar energetics, optics, lighting, and others), across five major regions (North America, Europe East Asia, South Asia & Oceania, and the Rest of the World).
Media Release: https://www.factmr.com/media-release/1658/global-high-purity-quartz-sand-market