United States, Rockville, MD, June 06, 2022 (GLOBE NEWSWIRE) -- The high purity quartz sand market is expected to be worth US$ 3.4 Billion in 2022 and is expected to reach US$ 5.8 Billion by 2032, increasing at a CAGR of 5.6% between 2022 and 2032. As of 2021, the market was valued at US$ 3.2 Billion, and is forecast to document a Y-o-Y growth rate of over 5% from 2021-2022.
Rising demand for high purity quartz sand may be attributed mostly to the semiconductor sector, which has expanded fast over the last half-decade and is expected to expand at the same rate throughout the projection period. Over the last five years, demand for high purity quartz sand has virtually tripled in this industry.
In the semiconductor sector, there are no replacements for high purity quartz sand, ensuring long-term market development. Aside from semiconductors, solar energetic will play a significant role in the growth of the high purity quartz sand market in the future years.
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Key Takeaways from the Market Study
- Global market for high purity quartz sand to expand 1.7x from 2022 to 2032
- Asia Pacific poised to dominate the global market, yielding 55% market revenue
- By application, solar energetics to be the most lucrative, registering a CAGR of 5% through 2032
- Application in semiconductors to account for 22% revenue, providing a $ opportunity worth US$ 600 Million
“Rising applications across numerous end use industries attributed to its high purity grade as well as the quest to attain sustainable production is widening growth prospects for the high purity quartz sand market”, says a Fact.MR analyst.
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Competitive Landscape
Sibelco, Quartz Corp, Russian Quartz LLC (Kyshtym Mining), HPQ Silicon Resources Inc., Nordic Mining ASA, High Purity Quartz Pty Ltd, and Jiangsu Pacific Quartz Products Co., Ltd. are among the leading participants in the high purity quartz sand industry.
- In February 2022, Australian Silica Quartz Pty. Ltd. announced it had signed a MoU Terms Sheet for permitting exports of silica sand of up to 45,000 tons per month from Marella Road, Bullsbrook in Western Australia. The initiative builds on the ongoing export of silica sand by sea containers
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global high purity quartz sand market presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of grade (2N, 3N, 4N and 5 N), and application (semiconductors, solar energetics, optics, lighting and other applications) across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa).
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