The global quartz market accounted for US$ 8,037.0 Mn in 2018 and is expected to grow at a CAGR of 6.2% during the forecast period 2019 - 2027, to account to US$ 13,762.6 Mn by 2027.
Quartz is a mineral form of SiO2 stable at low temperatures and pressures. It is found in igneous, sedimentary, metamorphic, and hydrothermal mineral environments, mainly in continental regions. It is highly resistant to mechanical and chemical weathering, and the high durability makes it the dominant mineral of mountaintops and the primary constituent of river, beach, and desert sand. One of the major properties of quartz crystals is the ability to vibrate at a precise frequency. Due to its high precise frequencies, quartz crystals are used to make extremely accurate time-keeping instruments and equipment that can transmit radio and television signals with precise and stable frequencies. Quartz products such as quartz sand is used in the production of container glass, specialty glass, flat plate glass, and fiberglass.
Rising investments and initiatives in residential and commercial construction in North American countries are influencing the manufacturers of quartz tiles to increase their production. This factor is boosting the quartz market in North America. The construction sector in the European countries is also increasing slowly, demanding improved building materials such as quartz tiles, and has been predicted to favor the quartz market. European countries such as Spain, Italy, and Turkey are experiencing demand from an increased number of residential sectors and commercial spaces, thereby catalyzing the demand for quartz flooring and tiles. Growing demand from builders in these countries is propelling the production lines of quartz tiles year on year, thereby substantially driving the quartz market globally.
The increasing demand for synthetic quartz has been one of the key factors responsible for the rise and expansion of the quartz market. Synthetic quartz offers various beneficial properties such as resistance to acids, corrosion, high temperatures, impact, wear, compression, bending, and infiltration. Therefore, it is extensively used in the electronics and semiconductor industry. Synthetic quartz is most prominently used in optical components that are used in wavelength lasers of microlithography projection systems. The optical components made of synthetic quartz are used to transmit high-energy ultraviolet laser radiation for producing large-scale integrated circuits. Synthetic quartz components are highly resistant to laser, which makes them suitable for high-power or short-wavelength lasers. Synthetic quartz is also used to manufacture crucibles that pull a single crystal silicon used to produce semiconductor devices and solar cells. High purity quartz is further used for single crystal ingots from silicon metal in the solar industry that has favored the quartz market globally.
Some of the players present in global quartz market are 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 global quartz market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the quartz market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the quartz market.