High Purity Quartz Sand Market is Projected To Reach USD 1000.1 Million By 2028 At A CAGR of 5.3%

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08 Dec, 2022, 18:30 IST

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BANGALORE, India, Dec. 8, 2022 /PRNewswire/ -- High Purity Quartz Sand Market is segmented by Type - Semiconductors Grade, Solar Grade, Lighting and Other Grade, by Application - Microelectronics, Solar Photovoltaic, Lighting Industry, Optics, Other. Global Opportunity Analysis and Industry Forecast, 2023 - 2028. It is published in Valuates Reports under the Precious Metals Category.

Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, the global High Purity Quartz Sand market is projected to reach USD 1000.1 million by 2028 from an estimated USD 733.6 million in 2022, at a CAGR of 5.3% during 2023 and 2028.

Major Factors Driving The Growth of High Purity Quartz Sand Market

High-quality quartz sand is used as a raw material to make fused quartz crucibles, quartz lighting devices, and quartz ware for semiconductors. The product is used in a variety of fields, including fiber optics, solar energy, lighting, and microelectronics. This element is anticipated to fuel the High Purity Quartz Sand market.

Another factor that is anticipated to significantly increase demand for high purity quartz sand over the projected period is the increased focus on using renewable energy as a result of mounting environmental concerns.

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TREND INFLUENCING THE GROWTH OF HIGH PURITY QUARTZ SAND MARKET

Rise in demand from the semiconductor industry is expected to drive the growth of the High Purity Quartz Sand market. The semiconductor sector benefits greatly from the outstanding quality and excellent purity of sand products. Crucibles and quartz glass products including windows, rods, and tubes are made from high purity quartz and used in the semiconductor industry. The manufacturing of silicon metal, the foundation for semiconductor wafers made using the Czochralski method, also makes use of high purity quartz. Quartz of high purity allows semiconductor components to endure the high temperatures used in wafer production. High purity quartz is in demand since new generation wafers are increasingly used in semiconductors. Electronics is the main application for semiconductors. It is the material of choice that is most frequently used to improve the performance of items. This, in turn, would fuel the High Purity Quartz Sand market.

Furthermore, the high demand from the solar industry will drive the growth of the High Purity Quartz Sand market. The most economical way to satisfy the solar industry's steadily rising quality standards is to use high purity quartz sand. Due to the fact that solar power is a renewable energy source, the solar business has recently grown significantly. To reduce their reliance on non-renewable energy sources, many nations are investing in solar energy.

The High Purity Quartz Sand market will be driven by escalating clean energy debate. In the past five years, attempts to lessen the impact of carbon emissions have increased along with concerns about them. As a result, solar panel manufacturing companies have seen a significant boost in revenue. High purity quartz sand has also made solar cells possible thanks to its stability, transmissivity, and heat resistance properties. Furthermore, high purity quartz must be utilized in photovoltaics, giving high purity quartz sand producers a chance to enter the renewable energy sector.

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HIGH PURITY QUARTZ SAND MARKET SHARE ANALYSIS

Key companies in the global high purity quartz sand market include Pacific Quartz, Unimin, and Quartz Corp. Over 90% of the market is held by the top three producers globally.

With a market share of roughly 25%, China is the biggest market, followed by North America and Europe, each of which have a share of about 30%. This is primarily attributable to rising electronic and electrical appliance consumption, especially in fast-growing regions like Asia Pacific. The introduction of high purity quartz in the microelectronics application is blamed for the rise. The market expansion in Europe, where the UK and Germany are the major contributors, will be fueled by the increasing product adoption of the product in solar energetics. The growth in North America is the result of increased product demand for lighting applications.

Likewise, the lighting industry is the second-largest application after microelectronics. Numerous different sectors use microelectronics. Cell phones, laptop computers, and televisions are just a few of the devices and appliances that contain electrical parts and components. For people to have luxurious lives, they need all of these tools and technologies.

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