Report : Quartz Market to 2027 - Global Analysis and Forecasts By Product (Quartz Surface and Tile, High-Purity Quartz, Quartz Glass, Quartz Crystal, Quartz Sand, Others); End-User Industry (Electronics and Semiconductor, Solar, Buildings and Construction, Medical, Optics and Telecommunication, Others), and Geography
The global quartz market was valued at US$ 8,037.0Mn in 2018 and is projected to be worth US$ 13,762.6Mn by 2027; it is expected to grow at a CAGR of 6.2% during the forecast period.
North America holds significant share in global quartz market, in 2018, it is accounted for 27.8% market share and is expected to grow at a moderate rate during the forecast period. Quartz is used in the number of applications. For instance, high-purity Quartz HPQ is used in the production of silicon wafers, which is key component on any semiconductor device. It is used for flooring and glass manufacturing. Quartz is also used as a crystal oscillator or piezoelectric cell in many electronics products. Thus, wide applications in various end-use industries have impacted the Quartz market in North America. However, the electronics industry is a major contributor to the growth of the North America Quartz market. According to the Consumer Electronics Association, the average American household spent $1,380 over the past year on consumer electronics (CE), such as HDTVs, cell phones, video game systems, computers, portable music devices, and Blu-ray players. In addition, there is a recent trend of combining the various functionalities of more than one product into a single product and reducing the size of the final product with ease of functionalities. This has brought the adoption of advanced technologies in the electronics industry, propelling the growth of electronics-grade manufactured Quartz in North America significantly.
The quartz market, by product, is segmented into quartz surface and tile, high-purity quartz, quartz glass, quartz crystal, quartz sand, and others. The quartz surface and tile segment accounted for the largest share of the quartz market in 2018. Quartz surface and tiles are engineered tiles with the agglomeration of pure quartz, polyester resins, and other substances. There is growing trend for quartz surface and tiles in commercial flooring due to various benefits such as attractive multi-colored designs, extremely durable, slip-resistant, chemical resistant, and mold and mildew resistant, and zero maintenance. It is a perfect flooring solution for commercial spaces that receive heavy amounts of foot traffic. The growing demand from building and construction industry is majorly driving the growth of this segment.
The global quartz market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. The Asia Pacific region is expected to account for the largest share of the global quartz market in 2018, followed by Europe and North America. Some of the major players in the quartz market include Baba Quartz, Quality Quartz Engineering, Momentive, Quartz Corporation, Creswick Quartz, Saint Gobain S.A., Dupont, Sibelco NV, Thermofisher Scientific, and Caesarstone Ltd. among others.
The report segments the global quartz market as follows:
Global Quartz Market – By Product
Global Quartz Market – By End-User Industry
Global Quartz Market – By Geography
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org