The quartz market in APAC is accounted to US$ 2,593.0 million in 2018 and is expected to reach US$ 4,748.1 million by 2027
The quartz market in APAC is accounted to US$ 2,593.0 million in 2018 and is expected to reach US$ 4,748.1 million by 2027, growing at a CAGR of 7.0% during the forecast period from 2019 to 2027.
NEW YORK, April 22, 2020 /PRNewswire/ --
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Quartz is a mineral form of SiO2 which is stable at low temperatures and pressures.It is found in igneous, sedimentary, metamorphic, and hydrothermal mineral environments, mainly in continental regions.
It is highly resistant to mechanical and chemical weathering, and the high durability makes it the dominant mineral of mountaintops and the primary constituent in sand of river, beach, and desert.One of the major properties of quartz crystals is the ability to vibrate at a precise frequency.
Due to its high precise frequencies, quartz crystals are used in making accurate time-keeping instruments and equipment that can transmit radio and television signals with precise and stable frequencies. Quartz sand is used in the production of container glass, specialty glass, flat plate glass, and fiberglass.
Based on product, the quartz market in APAC is segmented into quartz surface and tile, high-purity quartz, quartz glass, quartz crystal, quartz sand, and others.The quartz surface and tile segment held the largest share of the quartz market in 2018.
Moreover, the high-purity quartz segment is projected to grow at a faster pace during the forecast period owing to increasing usage of high-purity quartz in the semiconductor industry.Quartz surface and tile segment holds the dominant share in the APAC market as it is increasingly used for creating building surfaces.
Quartz is mainly used in the flooring applications among various industrial, residential, and commercials sectors as a cost-effective alternative to granite and marble.Quartz is also used in kitchen countertops and bathroom floors.
Therefore, the rapid expansion of the construction sector in the developed and developing countries such as Australia, China, India, Japan, and South Korea is projected to provide a huge market opportunity for quartz surface and tiles manufacturers.
Based on country, the quartz market in APAC is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC.The China holds the largest share in the APAC quartz market, which is followed by Japan.
Properties such as high resistance to heat and high electrical conductivity of quartz makes it a suitable mineral for various industrial sectors such as construction, semiconductor, electronics, energy, and power industries.The factors such as Quartz are closely related to various industrial sectors such as construction, semiconductor, electronics, energy, and power industries.
The mechanical properties of the quartz, such as high heat resistance and high electrical conductivity, make it an important element for industrial purpose. The rising demand for high-end consumer electronics and electrical products coupled with the presence of large number of semiconductor manufacturers in the Asia Pacific countries are propelling the growth of quartz market in the region.
Caesarstone Ltd, Thermo Fisher Scientific Inc., Sibelco NV., E. I. Du Pont De Nemours and Company, Saint Gobain S.A., Creswick Quartz, Quartz Corporation, Momentive Performance Materials Inc., and Baba Quartz are among the key players present in the quartz market in APAC.
The overall size of quartz market in APAC is analyzed using primary and secondary sources.The research process begins with exhaustive comprehensive research using internal and external sources to obtain qualitative and quantitative information related to the APAC quartz market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in quartz products.
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