Increased consumption of synthetic quartz in various end use industry such as, electronics, automotive, medical & others, is expected to push the sales during forecast period.
The global market value of synthetic quartz is nearly US$ 98 Mn, and the electronics industry accounts for more than 3/4th of total sales. As suggested by a new Future Market Insights (FMI) study, the global synthetic quartz market is set for notable growth during 2022 – 2029.
The electronics industry solely relies on components such as semiconductors, optical fibers, and solar cells. These electronic components utilize synthetic quartz crystal due to its important intrinsic properties. Technological developments are driving the need for high-performance electronic equipment, and have subsequently propelled the sales of synthetic quartz.
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Key Takeaways - Synthetic Quartz Market Report
Rising adoption of new technologies in electronics & communication and rapid evolution of automotive industry is expected to fuel the growth of global synthetic quartz market.
Market Landscape Moving towards Consolidation
The synthetic quartz market is highly technology-driven and is dominated by a handful of players with extensive R&D capabilities. Tier-I manufacturers in the global synthetic quartz market, Kyocera, Murata Manufacturing, Hereaus (Shin-Etsu), Asahi Glass Company, and others are focusing on joint ventures, partnerships, and collaborations to build on their product expertise and enhance market dominance.
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Synthetic Quartz Market Taxonomy
By Product
By End-Use
By Region
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jan 31, 2023