In 2018, the global quartz market was valued at US$ 8,037.0 million and is projected to experience a compound annual growth rate (CAGR) of 6.2% from 2019 to 2027, reaching an estimated US$ 13,762.6 million by the end of the forecast period.
Quartz, a mineral composed of silicon dioxide (SiO2), remains stable under low temperature and pressure conditions. It can be found in various geological settings, including igneous, sedimentary, metamorphic, and hydrothermal environments, predominantly in continental areas. Its remarkable resistance to both mechanical and chemical weathering contributes to its prevalence as a dominant mineral on mountain peaks and as a primary component of river, beach, and desert sands. A notable characteristic of quartz crystals is their ability to vibrate at specific frequencies. This property makes quartz essential in the manufacturing of highly accurate timekeeping devices and equipment that require stable and precise frequency transmission for radio and television signals. Additionally, quartz sand is utilized in the production of various glass types, including container glass, specialty glass, flat plate glass, and fiberglass.
The surge in investments and initiatives in both residential and commercial construction across North America is prompting quartz tile manufacturers to ramp up their production efforts. This trend is significantly contributing to the growth of the quartz market in the region. Similarly, the construction industry in Europe is gradually expanding, leading to an increased demand for superior building materials like quartz tiles. Countries such as Spain, Italy, and Turkey are witnessing a rise in demand due to the growth of residential and commercial developments, which in turn is driving the need for quartz flooring and tiles. The escalating requirements from builders in these nations are enhancing the production capabilities of quartz tiles annually, thereby significantly boosting the global quartz market.
The rising popularity of synthetic quartz has emerged as a pivotal factor in the growth and development of the quartz market. Synthetic quartz boasts numerous advantageous properties, including resistance to acids, corrosion, high temperatures, impact, wear, compression, bending, and infiltration. As a result, it finds extensive applications in the electronics and semiconductor sectors. Notably, synthetic quartz is widely used in optical components for wavelength lasers in microlithography projection systems. These optical components are crucial for transmitting high-energy ultraviolet laser radiation, which is essential for the fabrication of large-scale integrated circuits. The high resistance of synthetic quartz to laser exposure makes it ideal for use in high-power or short-wavelength laser applications. Furthermore, synthetic quartz is integral in the production of crucibles for pulling single crystal silicon, which is vital for manufacturing semiconductor devices and solar cells. The solar industry also relies on high-purity quartz for creating single crystal ingots from silicon metal, further supporting the global quartz market's expansion.
Key players in the global quartz market include Caesarstone Ltd, Thermo Fisher Scientific Inc., Sibelco, E. I. DU Pont De Nemours and Company, Saint Gobain S.A., Creswick Quartz, Quartz Corporation, Momentive Performance Materials Inc., Baba Quartz, and Quality Quartz Engineering, among others.
The overall size of the global quartz market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the quartz market. Additionally, numerous primary interviews are conducted with industry stakeholders and experts to validate the findings and analyses. Participants in this process typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the quartz sector.