Quartz Market to Exceed Valuation of US$ 12.9 Bn by 2031; Says TMR

- Expansion of the building & construction industry due to increased investments toward infrastructure development by several emerging economies is expected to create lucrative prospects in the quartz market

- Players in the quartz market are anticipated to gain promising business avenues from the semiconductor industry, which serves as one of the key end-users of quartz

ALBANY, N.Y., Feb. 2, 2022 /PRNewswire/ -- Due to the ability of quartz to offer a glossy finish to commercial and residential constructions, quartz has been increasingly used in different applications such as covering, flooring, and masonry walls of buildings. Hence, rise in infrastructure development activities and expansion of the construction industry are favoring the growth of the global quartz market.

A study by Transparency Market Research (TMR) notes that the quartz market is prognosticated to attract growth at a CAGR of 6.6% during the forecast period of 2021 to 2031.

The quartz market in Asia Pacific is expected to gather notable growth avenues on the back of rising use of quartz material in regional end-use industries such as electronics & semiconductor, building & construction, and medical industries. Furthermore, the Asia Pacific quartz market is driven by many factors such as increasing industrialization, presence of densely populated nations, and existence of numerous well-entrenched companies in the region. Moreover, presence of many emerging economies such as China and India plays a crucial role in the growth of the Asia Pacific market, according to a TMR report on the quartz market.

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Quartz Market: Key Findings

• In the semiconductor industry, products manufactured using high purity quartz are being utilized at a large scale, owing to their excellent purity and quality levels. Hence, rise in use of high purity quartz in the semiconductor industry for the production of crucibles and quartz glass products, including rods, tubes, and windows is creating revenue-generation opportunities in the market. Moreover, increasing use of quartz for the manufacturing of silicon metal, which serves as a base for semiconductor wafers, is resulting in promising revenue gains for players operating in the quartz market.
• With rapid urbanization in many emerging economies, they are mainly focusing on infrastructure development activities. As a result, there is a substantial increase in building and construction projects across these nations, which, in turn, is generating ample opportunities in the global quartz market.
• In many developing and developed nations, the spending power of major consumers is improving. Moreover, rising trend of single-family homes, increasing and easy availability of financial options, and changing lifestyles of people are anticipated to support the growth of the quartz market during the forecast period.

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Quartz Market: Growth Boosters

• Surge in the use of quartz for glassmaking, kitchen countertops, crucibles, and gemstones creates profitable opportunities in the global quartz market
• Rise in the number of infrastructure development projects and surge in the use of quartz material for varied applications in the development of commercial and residential buildings are expected to boost the sales of quartz in the near future
• Increase in the use of quartz across optical fiber & telecommunication and solar industries is driving the growth prospects of the global market

Quartz Market: Competition Landscape

• Several enterprises are strengthening their production capabilities in order to cater to the rising market demand
• Many players in the global quartz market are focused on the expansion of their businesses in new regions using different strategies, including collaborations with small competitors
• Companies operating in the quartz market are increasing R&D activities in order to develop superior quality products

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Quartz Market: Key Players

Some of the key players profiled in the report are:

• Quality Quartz Engineering
• The Quartz Corporation
• Murata Manufacturing Co., Ltd.
• Saint Gobain Group
• TXC Corporation
• Kyocera Corporation
• Swift Glass Co., Inc.
• Abrisa Technologies
• Caesarstone Ltd.
• Industrial Quartz Corporation

Quartz Market Segmentation

Type  

• Engineered Quartz Stones
• Quartz Sand
• Quartz Pebbles
• Quartz Crystals
• Others (Quartz Glass and Fused Quartz Crucibles)

End-use industry  

• Building & Construction
• Medical
• Semiconductor
• Solar
• Optical Fiber & Telecommunication

Region         

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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