The semiconductor sector, which has risen fast over the last half-decade and is expected to continue growing at the same rate throughout the projected period, is largely to blame for the rising demand for high purity quartz sand. Over the last five years, demand for high purity quartz sand has virtually tripled in this industry.
In the semiconductor industry, there are no replacements for high purity quartz sand. Solar energetics, in addition to semiconductor applications, will play a significant role in the growth of the high purity quartz sand market in the coming years. Demand for high purity quartz sand fell roughly 4% in the first half of FY2020, but the market is expected to recover (4 percent CAGR) by 2023 End.
High Purity Quartz Sand Market: Key Takeaways
- During the projection period of 2020 to 2030, the global high purity quartz sand market is expected to provide a value potential of roughly US$ 275 million.
- Through 2030, the high purity quartz sand market is expected to profit from increased R&D activity and increased production efficiency.
- By 2030, East Asia, South Asia, and Oceania will account for over half of world GDP in terms of value.
- The most promising segment is the 5N grade, which is expected to grow by more than 3% throughout the forecast period.
- North America is expected to account for over 83 kilo tonne of high purity quartz sand demand by 2030, accounting for one-third of the demand share in terms of volume, to feed the region’s rapidly increasing pharmaceutical industry.
- Latin America and the Middle East and Africa are expected to increase at a moderate rate, accounting for a small share of global demand.
According to a Fact.MR analyst, “high purity quartz sand price variation can be partly attributed to macroeconomic variables such as the COVID-19 pandemic and the US-China trade war.”
Growing Debate around Clean Energy to Propel High purity quartz sand Demand?
There has been an increase in awareness about carbon emissions and efforts being made to reduce the damage over the last half-decade. As a result, solar panel manufacturers have witnessed a considerable increase in revenue.
Additionally, high purity quartz sand has enabled the development of solar cells due to qualities such as stability, transmissivity, and heat resistance. Furthermore, photovoltaic quartz must be of high purity, providing an opportunity for high purity quartz sand manufacturers to enter the green industry.
As a result of the aforementioned causes, high purity quartz sand application is expected to increase at a CAGR of roughly 5.6 percent over the next decade.
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