Global High Purity Silica Powder Market Overview
The key driver impacting the high purity silica powder market is the growing use of semiconductor ICS surging demand for high purity silica powder across the globe. This growing use of semiconductors leads to the expanding semiconductor industry globally. For instance, As per the semiconductor industry association, the United States acts as a leader in the world and projected semiconductor sales of 30.5$billion across the world in 2016 with a growth of 5.1% when compared to the previous year. The global semiconductor market has recovered in recent years where sales increased from 2015. Whereas with regards to volume,the market was calculated XX Metric Tons in 2019 and foreseen to grow with a CAGR of XX% during 2020-2026.
Moreover, the increasing environmental concerns, and mounting emphasis on utilizing greener sources of energy, are also estimated to be significant determinants that add growth to the market.
According to Value Market Research, the global high purity silica powder market was valued at around USD 825 Million in 2019 and is estimated to grow at a CAGR of about 10.25% during the forecast period of 2020-2026.
In addition to this, the rapidly expanding broadband market due to the growing internet users across the globe is also predictable to enhance market growth under the forecast period. For instance, As per the world in data organization, the number of internet users number is increased from 413 million in 2000 to over 3.4 billion in 2016. The barrier of one billion was crossed in 2005. Each day an average of 640,000 people went online for the first time over the past five years. As per the international telecommunication union in the year 2015, there is around 48% of the world population used the internet and it was estimated that nearly 3.2 billion people were internet users by the end of 2015.
However, the dearth of skilled professionals and the limited availability of mines may hamper the global high purity silica powder industry in the long run. The current industry trend, such as rapidly evolving technology in poly-silicon production techniques, growing research initiatives regarding the use of high purity silica powder for the production of solar grade silicon, is expected to create new market opportunities for the key players in the coming years.
The High purity silica powder market is vast, with a large number of local and global players. The key leaders follow different strategies to improve their market position, such as mergers, expansions, acquisitions, and product innovations to augment their market share across the world. For instance, in January 2019, The Quartz Corp announced that the company is largely focusing on enhancing the existing thermal processing technology to improve the overall quality and uniformity of high-quality quartz. The key players included in the report are DIGHEN Composite Material Technology, Evonik Industries, Sibelco, Wacker, Donghai Colorful Mineral Products, The Quartz Corp (TQC), and Donghai Shihu Quartz.
In this research report, the high purity silica powder market is segmented by type, application, and region.
Analysis by Type:
By type, the report is categorized into Purity 99.9%, Purity 99.99%, Purity 99.999%, and other. The 99.9% dominate the type segment in 2019 with a maximum market share of 35%. It is due to the extensive adoption of high purity silica powder of 99.9%, as a vital industrial component in the production of high-end electronics applications, semiconductors, and photovoltaic (PV) solar panels. These products can be manufactured only after a supply of 99.9% high purity silica powder. Moreover, the increased consumption of consumer electronics devices, and the growing focus on photovoltaic (PV) solar panels, contribute to the growth of the 99.9% segment in the forecast period.
Analysis by Application:
By application, the report is categorized into the solar, semiconductor, fiber optic communication, the lighting industry, optical, and other. The semiconductor segment is accounted for the largest share of 25% in 2019. It is due to the growing prevalence of breast cancer across the globe. It is due to the extensive adoption of chips related to the rapidly growing use of AI across the electronics industry. Moreover, the increase in disposable income which leads to increased consumption of consumer electronics devices contributes to the growth of the semiconductor segment in the forecast period.
Analysis by Region:
In the regional outlook of the global high purity silica powder market, the Asia Pacific region dominates with a maximum market share of 30% in 2019. A country like China is driving the high purity silica powder market in the forecast period due to the wide industrial manufacturing base, high availability of raw materials, broad consumer base, and rapidly rising population. Moreover, the growing semiconductor, and electronics industry and expanding industrialization, and urbanization, contribute to the growth of the high purity silica powder market across the Asia Pacific.
Market Segmentation covered in the Report:
- Purity 99.9%
- Purity 99.99%
- Purity 99.999%
- Fiber Optic Communication
- Lighting Industry
- North America
- the Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.