Considerable Global Demand for Solar Energy to Aid High Purity Quartz Market Growth
The application of high purity quartz in an array of end-use industries has expanded at an impressive rate over the past two to three decades. High purity quartz is extensively used for a wide range of applications, including solar, semiconductor, optics, and lighting. As research and development activities within the high purity quartz market are underway in full swing, new potential applications of the same have periodically emerged over the past decade due to which, the global demand for high purity quartz is ascending. In the current scenario, owing to mounting environmental concerns and growing emphasis on utilizing greener sources of energy, the demand for solar components and energy has witnessed exponential growth, which in turn has directly impacted the growth of the global high purity quartz market.
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As high purity quartz is the main raw material that is used to produce polysilicon, monocrystalline silicon, solar cells, optical fiber, quartz glass, and integrated circuit boards, the demand has experienced consistent growth, particularly from the developed regions. For several years, the developed regions have remained at the forefront as far as innovations pertaining to high purity quartz is concerned. However, due to advancements in technology, growing investments in the developing regions, such as India and China, and rapid industrialization in these regions, the quality of high purity quartz processing techniques have improved by a considerable margin. At the back of these factors, the global high purity quartz market is expected to attain a market value of US$ 1.5 Bn by the end of 2030.
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Widening Applications of High Purity Quartz to Propel Market Growth
The global demand for high purity quartz has experienced consistent growth over the past decade and the trend is expected to continue over the forecast period. In the current scenario, high purity quartz is increasingly being used in the lighting industry, owing to the exceptional physical and functional properties. The desirable optical transmission properties and ability to withstand high temperatures without any deformities are the two main factors due to which, the adoption of high purity quartz across the lighting industry has increased at a consistent pace.
While the lighting sector is expected to account for a considerable market share, by application, the semiconductor sector is projected to have the highest market share. The flourishing solar and semiconductor industries are expected to provide fertile grounds for the growth of the high purity quartz market. The growing emphasis on deploying renewable energy has played an imperative role in driving the demand for energy-efficient solar PV and semiconductors– two major applications of high purity quartz. Apart from these major applications, high purity quartz is increasingly being used for a spectrum of niche applications, including production of bioactive glass and fillers.
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