Global Quartz Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-2030
The Global Quartz Market size is valued at USD 6.54 Billion in 2023 & is estimated to grow at a CAGR of around 4.56% during the forecast period, i.e., 2024-30.
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Global Quartz Market Dynamics: 2024-2030
Global Quartz Market Driver:
Rising Hospitality Projects Uplifting the Demand for Quartz– In recent years, tourism across the globe has significantly increased due to the rise in business travel & medical tourism. Based on the statistics by the United World Tourism, International tourist arrivals in the American countries have reached approximately 90% of the pre-pandemic levels. This surge in tourism is leading to the requirement for accommodation facilities. As a result, several hotel groups are expanding their hotels across the region. For instance, as per the statistics by Lodging Econometrics (LE), as of Q4 2023, there are approximately 6,160 under-construction hospitality projects. These hotels & resorts essentially require quartz products for making countertops, flooring, and wall cladding. In addition, quartz products offer aesthetic appeal and resemble to natural stones like granite & marble. Therefore, the developers are using quartz to furnish high-end & luxury surfaces, further amplifying the Global Quartz Market.
Global Quartz Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
By Type
-Quartz Surface & Tile- Market Size & Forecast 2019-2030, (Thousand Tons)
-High-purity Quartz- Market Size & Forecast 2019-2030, (Thousand Tons)
-Quartz Glass- Market Size & Forecast 2019-2030, (Thousand Tons)
-Quartz Crystal- Market Size & Forecast 2019-2030, (Thousand Tons)
-Quartz Sand- Market Size & Forecast 2019-2030, (Thousand Tons)
-Others- Market Size & Forecast 2019-2030, (Thousand Tons)
By End User
-Building & Construction – Market Size & Forecast 2019-2030, (Thousand Tons)
-Medical- Market Size & Forecast 2019-2030, (Thousand Tons)
-Electronics & Semiconductor-Market Size & Forecast 2019-2030, (Thousand Tons)
-Solar- Market Size & Forecast 2019-2030, (Thousand Tons)
-Optical Fiber & Telecommunication- Market Size & Forecast 2019-2030, (Thousand Tons)
-Others- Market Size & Forecast 2019-2030, (Thousand Tons)
The Electronics & Semiconductor industry holds the dominant market share in the Global Quartz Market.
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
Geographically, Asia-Pacific holds a dominant market share in the Global Quartz Market.
The Global Quartz Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024-2030 at the regional levels. Based on the analysis, the market has been further classified as:
Based on Type:
- Quartz Surface & Tile
- High-Purity Quartz (HPQ)
- Quartz Glass
- Quartz Crystal
- Quartz Sand
Of them all, Quartz Surfaces & Tiles holds a noteworthy market share in the Global Quartz market. Quartz surfaces offer durability, aesthetics, & ease of maintenance. As a result, these surfaces are becoming a more prevalent choice among constructors and interior designers. Additionally, the quartz surfaces are available in a diverse range of colors and designs. Owing to this, they look exactly like marbles. This, in turn, permits greater design flexibility & customization options in residential applications like kitchen countertops, bathroom vanities, flooring, & wall cladding.
In addition, the quartz tiles & surfaces have unique attributes like excellent durability, hardness, and resistance to scratches, and stains. As a result, they can withstand the demands of daily use in commercial settings, enhancing market growth. Moreover, they have non-porous properties that make them resistant to bacteria, mold, & mildew growth. Hence, the developers constructing hospitals are increasingly using quartz surfaces & tiles for hassle-free cleaning, boosting the global quartz market.
Based on End User:
- Building & Construction
- Medical
- Electronics & Semiconductor
- Solar
- Optical Fiber & Telecommunication
The Electronics & Semiconductor industry holds the dominant market share in 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. Therefore, they are considered ideal for miniaturized electronic devices, uplifting the demand for quartz across the globe.
Moreover, various automakers are increasingly incorporating electronics & semiconductor components into their automobiles. These electrical components are made up of quartz to ensure accurate timing & frequency control in these vehicles. Hence, the mounting demand for quartz in automotive applications owing to the increasing penetration of connected car technologies worldwide would continue to propel the Global Quartz Market growth in forecast years.
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Top Companies Operating in the Global Quartz Market:
-The Quartz Corporation
-Quality Quartz Engineering
-Momentive Technologies
-Saint Gobain Quartz
-Kyocera Corporation
-Pokarna Group
-AGC Inc.
-Nihon Dempa Kogyo Co. Ltd.
-Caesarstone Ltd.
-Swift Glass Company.
Industry Recent Development:
- 2024 Years: Kyocera Corporation announced the commencement of its new manufacturing facility in the US. The unit would develop FC-cut crystals & quartz in the forecast period.
- 2023 Years: Sibelco one of the top industrial minerals providing companies, announced a major expansion of its Spruce Pine Facility in the US, with an estimated $200 million investment between 2023 & 2025 to double HPQ (High Purity Quartz) installed capacity.
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