Surging demand for high-performance semiconductors in electronic equipment used in automotive, and consumer segments will drive growth of the synthetic quartz market.
DUBAI, UAE / ACCESSWIRE / April 14, 2020 / The global synthetic quartz market will be valued at US$ 150 Mn by 2029. Superior electrical conductivity positions synthetic quartz as an ideal choice against alternatives in the market. Rising need for conductivity and insulation to manufacture high-performance products contributes to synthetic quartz sales. Electrification of cars, smart devices, and smart homes are a few consumer trends that drive the demand for synthetic quartz employed in high-performance electrical components.
"Tech-driven advancements that aid cost efficient manufacturing shape competition in the synthetic quartz market. Electric automotive adoption presents gainful growth prospects." says a FMI analyst.
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Synthetic Quartz Market - Key Takeaways
- Synthetic quartz crystal will emerge as the highest growth product type.
- East Asia leads global sales with the largest market value share.
- Electrical & electronics accounts for the largest end-use segment.
- Automotive applications of synthetic quartz present lucrative growth opportunities.
Synthetic Quartz Market - Key Driving Factors
- Growth of semiconductor application will continue to drive the demand for synthetic quartz.
- Consumer trends such as electric cars, and electric scooters will continue to generate demand from the automotive segment.
- Synthetic quartz garners remunerative attention from EUV lithography market players.
Synthetic Quartz Market - Key Constraint
- Global trade lockdown to combat the COVID-19 pandemic has a negative impact on the supply chain of synthetic quartz manufacturers.
- Loss of capital, orders, and business operation personnel have brought production and distribution to a standstill.
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COVID-19 Impact on Synthetic Quartz Market
The pandemic is creating economic turmoil in many countries. Active social distancing by consumers has hindered the sales of electronic products and automotive. The focus is on efficient and effective public-health and economic response to COVID-19. Hence, market players may find applications in the healthcare industry as sustainable growth opportunities. However, the lack of availability of transport and logistics will act as a major restraint as the world fights the COVID-19 Pandemic.
Competition in the synthetic quartz market is driven by technology advancement and leveraging industrial automation technologies. Market players are diversifying their product portfolios on the basis of precision and quality offered by industrial automation technologies. The market is moving towards consolidation as major players are in talks of joint ventures, partnerships, and collaborations. Key players in the synthetic quartz market are, but not limited to, Nihon Dempa Kogyo, Kyocera, TXC Corporation, Murata Manufacturing, Seiko Epson, AGC Inc., Daishinku Corporation - KDS, Hubei Feilihua Quartz Glass Co., Ltd., Taihan Fiberoptics, Heraeus (Shin-Etsu) and Yuzhnouralsk Plant Kristall among others.
More About the Report
The FMI's market research report of 300 pages offers comprehensive insights on the synthetic quartz market. The market is analyzed on the basis of product (synthetic quartz crystal, and synthetic quartz glass), end-use (electrical & electronics, automotive, medical, military, construction, and others), across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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