Market Definition
Quartz, one of the most abundant minerals on the Earth, occurs in various forms & colors and is adopted by various end-use industries, mainly construction, electronics & semiconductor, and solar. Its usefulness owes to its excellent physical, chemical, & electrical properties that make it durable, corrosion-resistant, and highly tolerant to chemical & mineral weathering. Commercially, quartz is available in crystals, stones, pebbles, engineered, high-purity, & crucible forms.
Market Insights & Analysis: Global Quartz Market (2023-28)
The Global Quartz Market size is valued at around USD7.5 billion in 2022 & is projected to grow at a CAGR of around 5.8% during the forecast period, i.e., 2023-28. The growth of the market would be propelled mainly by the mounting demand for quartz from the booming construction sector as well as electronics & semiconductor industries, owing to its superior physical, chemical, & electrical properties. Quartz is used widely in residential & commercial construction applications, including countertops, flooring, wall cladding, & other surfaces. Hence, the increasing construction activities worldwide, backed by urbanization and the growing number of infrastructure development & renovation projects, are thus fueling the demand for quartz products.
In addition, the burgeoning production of semiconductors backed by the ever-increasing sales of consumer electronics products like laptops, mobile phones, TVs, tablets, smartwatches, smart home devices, etc., is driving the demand for HPQ (High Purity Quartz) in the electronics & semiconductor industry, backed by its excellent electrical & heat resistance properties suitable for electronics products, which make it ideal for wafer processing. Quartz crystals are crucial for frequency control & precise timing applications in these electronic devices, owing to which they are in high demand.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 5.8% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA | |
| Key Companies Profiled | The Quartz Corporation, Quality Quartz Engineering, Nihon Dempa Kogyo Co. Ltd., Momentive Technologies, Saint Gobain, Kyocera Corporation, TXC Corporation, AGC Inc., Caesarstone Ltd., Swift Glass Company, Abrisa Technologies, Industrial Quartz Corporation, Sibelco Quartz, Murata Manufacturing, Heraeus Holding |
| Unit Denominations | USD Million/Billion |
Moreover, in residential & commercial construction projects, the shifting preference toward engineered quartz surfaces like quartz countertops that offer a combination of aesthetics, durability, & low maintenance and are popular among consumers, architects, & designers is also boding well for the quartz market. Furthermore, sustainability and environmental concerns are gaining prominence across different end-user verticals worldwide. Since quartz surfaces can be produced using sustainable practices, and some products even incorporate recycled materials, they are considered environmentally friendly. As a result, the growing awareness and demand for sustainable & eco-friendly materials in construction & manufacturing applications are also set to spur growth in the global quartz market over the coming years.
Global Quartz Market Key Driver
Burgeoning Demand for Quartz from the Construction Industry: Quartz products are used extensively as countertops, flooring, wall cladding, & other surfaces in residential & commercial construction applications due to their durability, aesthetics, & low maintenance requirements. Rising population levels, urbanization, & various ongoing infrastructure development projects worldwide are leading to increasing construction activities and, in turn, driving the demand for quartz products. In addition, since quartz is often chosen for its aesthetic appeal and can resemble natural stones like granite & marble, the improving disposable incomes of consumers, coupled with their shifting preferences toward high-end & luxury surfaces, are further amplifying the demand for quartz-based products and, in turn driving the Global Quartz Market.
Global Quartz Market Growth Restraint
Limited Availability of High-Quality Quartz: Quartz is a naturally occurring mineral, and the availability of high-quality quartz deposits is limited in certain regions. Not all quartz deposits meet the requirements for purity, clarity, & consistency required for various applications in electronics & semiconductors, solar, & construction, among other industries. Moreover, the quartz sourcing process is complex & challenging since it is typically mined & extracted from deposits. As a result, establishing reliable supply chains and securing consistent access to high-quality quartz can be difficult, especially when demand is high. Hence, the limited availability of high-quality quartz and the complex process of quartz sourcing are the major growth restraints for the Global Quartz Market.
Global Quartz Market (2023-28): Segmentation Analysis
Global Quartz Market report by MarkNtel Advisors includes segmentation analysis based on Type & Application. This breakdown allows businesses to identify specific market segments and tailor their marketing and product strategies accordingly, maximizing their chances of success in the market.
Based on Type:
Quartz Surfaces & Tiles are the major contributors to the growth, capturing significat share of the Global Quartz Market owing to their extensive use in residential & commercial construction projects. Quartz surfaces offer durability, aesthetics, & ease of maintenance, which make them a popular choice among homeowners, architects, & designers. Besides, they are available in a wide range of colors, patterns, & designs and can resemble the appearance of natural stones like granite & marble, which, in turn, allows for greater design flexibility & customization options in residential & commercial applications like kitchen countertops, bathroom vanities, flooring, & wall cladding.
In addition, with characteristics like excellent durability, hardness, and resistance to scratches, stains, & impacts, quartz surfaces & tiles can withstand the demands of daily use in residential & commercial settings, and their non-porous properties make them resistant to bacteria, mold, & mildew growth. Hence, their advantages, including low maintenance & hassle-free cleaning, coupled with the rising number of new construction & renovation projects in both residential & commercial sectors, are infusing the demand for quartz surfaces & tiles and, consequently, driving the global quartz market.
Based on Application:
The Electronics & Semiconductor industry holds the potential share of the Global Quartz Market. It owes to continuous advancements and miniaturization of electronic devices, the rise of wireless communication technologies, the mounting popularity of smart devices, and the significantly expanding automotive electronics sector. Quartz is used extensively in this industry for its unique properties like high thermal & chemical resistance, excellent electrical conductivity, and precise frequency control.
Miniaturization trends and increasing functionality of electronic devices are instigating the use of compact & high-performance components. Since quartz crystals & oscillators offer excellent size-to-performance ratios, they are considered ideal for miniaturized electronic devices, the demand for which is continuously rising and directly impacting the growth of the quartz market.
Moreover, as automakers are increasingly incorporating electronics & semiconductor components into vehicles, including infotainment systems, ADAS (Advanced Driver-Assistance Systems), & autonomous driving technologies, it is also augmenting the demand for quartz to ensure accurate timing & frequency control in these applications. Hence, the mounting demand for quartz in automotive applications owing to the increasing penetration of EVs (Electric Vehicles) & connected car technologies worldwide is fueling the growth of the quartz market around the electronics & semiconductor industry.
Global Quartz Market Regional Projection
Geographically, the Global Quartz Market expands across:
Of all regions globally, Asia-Pacific dominates the Quartz Market with the largest share. It owes to the abundant availability of quartz reserves, particularly in China, India, & South Korea, coupled with the mounting demand for quartz in electronics & semiconductor industries (the largest end-users of quartz), mainly for the production of quartz-based components & devices, such as quartz crystals, oscillators, filters, & resonators. These countries are among the major producers & consumers of quartz and have a significant presence in the electronics & semiconductor sectors.
The extensive availability of natural resources encourages the production of quartz within these nations and makes it a cost-effective & convenient source for both domestic consumption & exports. In addition, the ever-increasing infrastructure development activities and the booming construction sector due to rapid urbanization across the region also contribute to market growth, as quartz is used extensively in the construction industry for applications like countertops, tiles, & decorative elements.
Moreover, several countries in Asia-Pacific offer a favorable manufacturing environment with competitive labor costs, advanced infrastructure, & supportive government policies, which, in turn, attract massive investments from international manufacturers and push the establishment of production facilities in the region. Furthermore, the large & growing population with rising disposable incomes and changing lifestyles are resulting in increased consumer spending on various products that incorporate quartz, such as consumer electronics, kitchen appliances, & home furnishings, i.e., another prominent aspect spurring growth in the Asia-Pacific Quartz Market.
Global Quartz Industry Recent Developments
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Frequently Asked Questions
A. The Quartz Market is projected to grow at a CAGR of around 5.8% during 2023-28.
A. The mounting demand for quartz from the construction industry is the prime aspect projected to drive the Quartz Market further in the coming years.
A. The Quartz Corporation, Quality Quartz Engineering, Momentive Technologies, Saint Gobain, Kyocera Corporation, TXC Corporation, AGC Inc., Nihon Dempa Kogyo Co. Ltd., Caesarstone Ltd., Swift Glass Company, Abrisa Technologies, Industrial Quartz Corporation, Sibelco Quartz, Murata Manufacturing, and Heraeus Holding are the key players operating in the Quartz Market.
A. Limited availability of high quality quartz and the complex process of quartz sourcing are the major growth restraints for the Quartz Market.
A. The electronics & semiconductor industry would provide remunerative opportunities for the leading players in the Quartz Market during the forecast period.
A. Globally, Asia-Pacific would continue generating lucrative prospects for the Quartz Market in the years ahead.
Global Quartz Market Research Report (2023-2028) - Table of Contents
