High Purity Silica Market Study in Chemical Sector Provides Latest Intelligence on Growth in 2024 and Beyond.
Modified economic, social, environmental, and political standards are expected to play an even bigger role in shaping the industry’s future as it heads into 2024. Companies should consider introducing a series of focused, strategic initiatives across major functional areas such as R&D and technology to succeed in the changing chemical market landscape. Global High Purity Silica supply-demand continues to be impacted by broader developments in the chemicals sector. The new High Purity Silica market research report outlines the key factors that will impact production, supply, and demand during the assessment 2024-2031.
The study tracks High Purity Silica demand and sales in over 20 countries, highlighting the variance and unique set of conditions that are unique to every market. The study also analyses the impact of COVID-19 on chemicals industry in general and High Purity Silica in particular.
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Growth in Semiconductor Industry to Spur Sales of High Purity Silica
High purity silica is used in semiconductor and electronics industry for mechanical planarization or polishing. With the growing use of high purity silica in this field, its demand across regions such as United States and Europe is expected to increase. In 2017, the semiconductor industry witnessed growth owing to high adoption of graphics processing units and e-sports. According to World Semiconductor Trade Statistics, the semiconductor revenue from a global perspective is expected to rise by 7% in 2018. In 2017, the semiconductor revenue in US reflected a value higher than US$ 86 Mn, which is expected to reach US$ 95 Mn with a 10.3% growth.
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How will High Purity Silica Sales Grow in 2024 and Beyond?
The High Purity Silica industry report tracks short-term and long-term growth, offering readers analysis they can use immediately to formulate their strategies.
Overall, demand for High Purity Silica will be heavily influenced by broader developments in the chemicals sector. The Chemical Activity Barometer has shown a stable streak, which is indicative of an ascendancy in US chemicals sector. However, the US chemicals sector growth will depend to a large extent on how end-use industries fare.
Traditionally, demand from automotive sector has been key to chemical demand. The US automotive sector is set to recover in 2024 with sales expected to be in the range of 15.5 million to 16 million.
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The market study addresses the following queries related to the global High Purity Silica market:
- Which region is likely to account for the maximum market share in 2031?
- What are the most notable advancements in the global High Purity Silica market?
- What strategies are players adopting to expand their presence in the global High Purity Silica market?
- Which trends are projected to disrupt the High Purity Silica market in the upcoming years?
- What will be the Y-o-Y growth of the High Purity Silica market between 2024 and 2031?
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