Fused silica has been primarily consumed in the electronics and semiconductor industry (55% of total market). Fused silica is highly consumed in these industries for its good dielectric and insulating properties. Besides, the second largest application of fused silica comes from foundries, where fused silica is consumed as a refractory material or in investment casting. In investment casting, fused silica coats a wax replica of the component to be cast. High adoption of fused silica materials for investment casting over other products augments Fused Silica Market demand in the long-run.
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Global Fused Silica Market Regional Insights
Europe accounted for the largest market share in 2019. This trend is forecast to continue throughout the forecast period. Currently, Europe accounts for over one third of the fused silica demand. Consumption of fused silica in Europe is mainly backed by increasing demand of high performance fused silica from the electronics and semiconductor industry.
The fused silica market was the fastest growing in East Asia in the historical period. China was at the forefront of rising demand. However, amid the ongoing COVID-19 outbreak, a number of temporary plant closures has stalled production. The situation has become even worse with the disease spreading worldwide, especially in the matured markets of North America.
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Thus global fused silica market in North America & East Asia is poised to grow sluggishly for the next one or two years. These regions are the largest smartphone manufacturers, thus accounting for the bulk of fused silica demand for its camera optics. Hence, fused silica market is forecast to recover its pace once smartphone manufacturing in these regions regains its full momentum.
Global Fused Silica Market Manufacturers: Key Strategies
The global fused silica market is fairly fragmented in nature. Imerys Refractory Minerals, 3M, Corning, Vesuvius and Morgan Advanced Materials are among the Tier 1 players. Together, they are anticipated to account for nearly half of the global market share in 2024. Key manufacturers are observed to be involved in material optimization, manufacturing technological automation, and productivity enhancement. Prominent manufacturers have also been backward integrating their manufacturing facilities. For instance, Corning has long been characterized as a glass supplier for specialty photonic application. However, the company is also vertically integrated and produces fused silica for in-house consumption as well as supplies to other glass manufacturing companies.
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The Fused Silica Market research answers important questions, including the following:
- Why Fused Silica Market players are focusing on the business expansion in region?
- Which regulatory authorities have granted approval to the application of Fused Silica Market
- What are the pros and cons of the Fused Silica Market the environment?
- Why players are targeting the production of segment?
- What are the strategies implemented by emerging players in the global Fused Silica Market?
The Fused Silica Market report serves the readers with the following data:
- In-depth analysis of supply-side and demand-side trends.
- Direct and indirect impacts of the growth of relevant markets on the Fused Silica
- Importance of segment in various regions.
- Accurate Y-o-Y growth of the global Fused Silica
- Consumption trends among individuals across the globe.
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