The global synthetic quartz market is expected to witness a year-over-year growth of 6.3% in 2022 to reach a value of USD 93.0 Million by 2022 end. The global business is anticipated to witness a considerable CAGR of 6.1% during the period of 2022 and 2029.
| Report Attributes | Details |
|---|---|
| Synthetic Quartz Market Size (2021A) | USD 93.0 Million |
| Synthetic Quartz Sales (2022E) | USD 98.9 Million |
| Projected Synthetic Quarts Market (2029F) | USD 149.4 Million |
| Value CAGR (2022 to 2029) | 6.1% |
| Collective Value Share: Top 3 Countries (2022E) | 46.8% |
Increased consumption of synthetic quartz in various end-use industries such as electronics, automotive, medical & others, is expected to push sales during the forecast period. Considering this, FMI has forecast the global synthetic quartz sales to reach a valuation of USD 149.4 Million in 2029.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 6.0% |
| H1,2022 Projected (P) | 6.3% |
| H1,2022 Outlook (O) | 6.1% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 20 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 10 ↑ |
Future Market Insights predict a comparison and review analysis of the dynamics of the synthetic quartz market. Certain key factors influencing the demand for synthetic quartz include consumption increment in various end-use industries such as electronics, automotive, medical, etc.
In addition, the rise in technological development, consumer spending, smartphone usage, and the need for high-performance electronic devices are propelling the market. Some key trends witnessed in the market include top manufacturers' collaborations with electronics market leaders for the rapid deployment of new IoT products which are also contributing to the growth of the market.
According to FMI analysis, variation between the bps values observed in the synthetic quartz market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 20 units., compared to H1, 2021, the market is expected to spike by 10 BPS in H1 -2022.
Key reasons for these certain decreased expectations include the low withstanding ability of heat after a certain threshold, burnt and damaged after a certain temperature. Further rise in the pricing of raw materials and quartz particles is also expected to impact the market growth.
With these negative prospects, the market is influenced by certain positive factors, which include a rise in the adoption of new technology in the electronics industry that solely relies on electronics components such as semiconductors, optical fiber, and solar cells which majorly utilize synthetic quartz.
An increasing trend in the innovative research and development of the customized product of synthetic quartz is likely to contribute to growth in the synthetic quartz Market.
Sales of synthetic quartz increased at 5.8% CAGR, between 2014 and 2021, owing to high growth in certain key end-use industries like electronics and electrical, the military sector, the construction sector, and others. The pandemic crisis reduced demand for synthetic quartz, and impacted sales projections in the year 2020, although growth is expected to resume in the coming quarters.
The key driver for the growth of the market is the utilization of synthetic quartz in electronics, automotive & military end-use sectors. Increasing applications of synthetic quartz in a variety of other end-use industries like construction, automotive, and others are expected to propel sales in the forecast period. Electronics and automotive are the key industries that are pushing the demand for synthetic quartz.
Global synthetic quartz and its component market are driven by the electronics and automotive industries. Rise in technological developments, consumer spending, mobile phone usage, and the need for high-performance electronic equipment have propelled the market of synthetic quartz. The electronics segment accounted for a prominent share of more than three-fourths of the global market, followed by the automotive sector.
The rising adoption of technology has led to the significant growth of the electronics industry that solely relies on electronic components such as semiconductors, optical fibers, and solar cells. These electronic components utilize synthetic quartz crystals due to their important intrinsic properties. Mobile phones hold a prominent share of synthetic quartz usage in the electronic industry.
Synthetic quartz components are also useful for the installation of communication systems. Major manufacturers of synthetic quartz have developed synthetic quartz components suitable for 5G technology. The high growth of 5G technology is expected in near future. The electronics segment is anticipated to account for about 79% of the overall consumption share.
According to FMI, the USA is expected to account for a substantial share of the global market. Over the forecast period, the United States is expected to dominate the North American market with a significant value share in terms of consumption.
High demand for electronics, especially consumer electronics, including mobile phones, watches, clocks, GPS, lasers, sensors, television sets, laptops, and games has played an important role in the growth of electronics, and this is expected to push the demand for synthetic quartz as well. Increasing capital investments by key players in the USA are also expected to push for significant growth in the near future. The USA market of synthetic quartz is expected to reach a value of about USD 28.7 Million by the year 2029.
China is projected to grow with a 6.7% CAGR over the forecast period of 2022 and 2029. Synthetic quartz plays an important role in the manufacturing of consumer electronics. Besides, a large number of mobile, television, lenses, and automotive manufacturers are also based in China, which makes it the most attractive target location for synthetic quartz sales.
Most synthetic quartz is consumed as an electronic component, and used in different sectors such as automotive, military, medical, construction, and other applications. China is one of the major producers and exporters of electronics. Moreover, it has good production-to-sales ratio for electronics. All these factors are boosting the demand for synthetic quartz in the country.
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The synthetic quartz crystal segment is expected to grow at a prominent value of 6.2% CAGR over the forecast period of 2022 to 2029. Quartz is one of the most commonly found minerals in the earth’s crust. Although quartz is available in abundance, it is also processed in an autoclave through a hydrothermal process.
Synthetic quartz is widely used in the manufacturing of electronic components that are necessary for end-use industries like electrical & electronics, automotive, military, construction, medical, and petroleum. Synthetic quartz crystal holds a prominent share in the global market of synthetic quartz.
Quartz crystal also poses piezoelectric property, thus, force applied in any direction causes electrical charge. All these application segments' growth can enhance the demand for quartz crystals.
The automotive segment is projected to create an absolute dollar opportunity of more than USD 3.7 Million during the period of 2022 to 2029. The automotive industry has been one of the key end-use industries for the market of synthetic quartz.
Synthetic quartz has been proven to be the choice of manufacturers for making frequency control oscillators as they help in the smooth operations of various equipment. Thus, the increasing automotive production is expected to positively impact the global market in the assessment period.
Automotive is a key application segment for synthetic quartz. Synthetic quartz is used in various automotive electronic applications like sensors, displays, and others. The automobile industry is entering a new era of electronics with new safety and connectivity system solutions that are expected to give a boost to ‘pervasion’.
Synthetic quartz is used in automotive, significantly for electronic applications like engine control, advanced safety vehicle (ASV), audio/navigation, GPS, watch, car camera, communication, controller (battery, inverter, converter), and satellite radio. The rising need for electro-mobility and the development of driverless cars are expected to drive synthetic quartz demand in the coming years.
In recent years, manufacturers have shifted their focus to emerging countries in order to meet the growing demand for synthetic quartz. Several major players are also focusing on improving their manufacturing capabilities, Research and Development investments, collaborations, and mergers and acquisitions.
For Instance:
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
*The list is not exhaustive, and is only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America, Latin America Middle East & Africa, Europe, South Asia, East Asia, Oceania |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, Thailand, Vietnam, Singapore, Malaysia, Indonesia, Australia, New Zealand, Brazil, Mexico, GCC Countries, South Africa |
| Key Segments Covered | Product Type, End Use, and Region |
| Key Companies Profiled | TXC Corporation; Nihon Dempa Kogyo; Kyocera; Murata Manufacturing; Seiko Epson; Daishinku Corp. - KDS; Hubei Feilihua Quartz Glass Co., Ltd.; Taihan Fiberoptics; Heraeus Group; Yuzhnouralsk Plant Kristall; Coorstek; Impex HighTech |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market of synthetic quartz is expected to create a valuation of USD 98.9 Million in 2022.
The synthetic quartz market has been estimated to exhibit a growth rate of 6.1% between 2022 and 2029 on a value basis.
Electronics & electrical end-use segment is expected to contribute a major growth share to the overall market in 2022. The segment is expected to account for about 79% of the overall consumption of quartz.
TXC Corporation, Nihon Dempa Kogyo, Kyocera, Murata Manufacturing, Seiko Epson, Daishinku Corp. - KDS, Hubei Feilihua Quartz Glass Co., Ltd., Taihan Fiberoptics, Heraeus Group, Yuzhnouralsk Plant Kristall, etc. are the key manufacturers in the global market.
The demand in the USA is expected to increase by 5.9% CAGR between 2022 and 2029 on a value basis.
| Market Value (2023) | USD 29.24 billion |
|---|---|
| Expected Forecast Value (2033) | USD 50.01 billion |
| Projected CAGR (2023 to 2033) | 6% |
| Market Size (2022) | USD 7.90 billion |
|---|---|
| Market Size (2032) | USD 13.88 billion |
| Market CAGR (2022 to 2032) | 5.80% |
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