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High Purity Silicon Dioxide Market Report Overview
The global high purity silicon dioxide market size was USD 785 million in 2022 and is projected to touch USD 1324.77 million by 2031, at a CAGR of 6.0% during the projected period.
Silicon dioxide is a chemical compound with the formula SiO2. It is one of the most abundant minerals on Earth and has been identified in almost all environments. A major environmental problem is that dust containing silicon dioxide makes unattractive buildings and a potential health hazard to those with lung problems, such as asthma or allergies.
Silicon dioxide can be found in many forms, but the high purity form is what we will focus on for this report. This type of silicon dioxide contains 99.999% purity and it's a pure substance that doesn't contain any other minerals except silicon dioxide. High purity silicon dioxide can also be used to purify water as well as reduce heat loss from windows during winter time which could lead to savings in heating costs for both homeowners and commercial building owners alike.
COVID-19 Impact: Globally Restriction on the Industry Hindered Market Extension
The global COVID-19 pandemic has been unprecedented and staggering, with high purity silicon dioxide lower than anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic impacted the business industry drastically. Every industry whether production or manufacturing, research, or service sectors nothing left from the post COVID-19 effect. Due to government restrictions, various business industries had to refrain the production during the lockdown period 2020-21 all over the world. Thus, the outbreak of coronavirus hindered the growth of the miscellaneous business market. Consequently, the global market is affected indirectly including the chemical material industry.
LATEST TRENDS
"Rising Demand in Industrial Sector to Enhance Market Growth "
The global high-purity silicon dioxide market size is expected to grow at a steady pace over the forecast period on account of the increasing demand from end-use industries such as pharmaceuticals, paints and coatings, solar cells and photovoltaic, and others. There are different factors that are driving this industry, which includes improved product quality over time. Moreover, there is an increasing need for biocompatible materials that can be used in medical devices such as implants in medical devices or to replace bone for bone grafting procedures.
High Purity Silicon Dioxide Market Segmentation
- By Type
Based on type, the market is distributed into semiconductors grade, solar grade lighting and other grade.
Semiconductors grade is the leading type of the segment in the market.
- By Application
Based on application the market is spilt into Electronics and Semiconductors, Solar (PV), Optical, Lighting, and others.
Electronic and semiconductors are the leading applications of the segment in the market.
DRIVING FACTORS
"Rising Demand for Advanced Technology to Assist Market Development"
The growth of the global high purity silicon dioxide market is driven by factors like increasing awareness about health benefits and increasing demand for air pollution control technologies in developing nations. High purify silicon dioxide is also used in various applications such as the semiconductor industry and solar cell manufacturing. Changing lifestyle habits, poor public transportation systems, and rapid growth in population are some of the other factors that will boost the demand for global high purity silicon dioxide over the next few years.
"Growing End User Industry to Boost Market Share "
Another significant reason is, the global high purity silicon dioxide market is mainly driven by the growth in end-user industries and the increasing need for energy-efficient production methods. The food and beverage industry will be one of the key global high purity silicon dioxide market players, owing to their use of high quality silicon dioxide for making animal feed additives. Therefore, the global high purity silicon dioxide market growth would witness during the forecast period.
RESTRAINING FACTORS
"Unstable Prices & Competition to Restrict Market Growth "
Some of the restraining factors for this market are volatile prices, intense competition, and stringent regulatory requirements. Furthermore, there is a need for increased investments in R&D activities across emerging countries such as India and China to ensure sustainable growth of this industry over the next decade or so.
High Purity Silicon Dioxide Market Regional Insights
"Rapid development & Industrialisation enhance Market Growth in Asia Pacific"
Asia Pacific regions share the largest high purity silicon dioxide market shares. In 2018, it accounted for 48% of the total silicon dioxide market. Its rapid urbanisation & industrialisation accelerate the market growth in this region.
On the other hand, Eastern & Western Europe is the second largest market of silicon dioxide. Several end-user industries required high purity silicon dioxide for various applications such as electric, electronic, and electrical products and building construction projects. EU anticipated recording a 5% CAGR throughout the time period. Hence, these prominent regions spur the global high purity silicon dioxide market shares which accelerate the high purity silicon market growth rate for forecasting period.
KEY INDUSTRY PLAYERS
"Prominent Companies in the Industry to Encourage Market Expansion "
In the market, there are some dominant market players retaining the competition to other participants in recent years. The report emphasises the market trends, leading brands’ strategies, comprehensive tactics, advanced development, and innovation. According to the report, leading brands are expected to have an impact on the market share in this area as they are actively engaged in exploring ways to produce and expansions of manufacturing units, equipment, high tech machinery, and so forth. Companies such as Sibelco, The Quartz Corp, Jiangsu Pacific Quartz, and Russian Quartz are some of the leading players operating in this market across different regions. The report signifies the regional data analysis, financial gain, sales prices, competition, and promotions, growth rate, profit percentage, latest challenges, market evaluation, and research studies on market trends.
LIST OF TOP HIGH PURITY SILICON DIOXIDE COMPANIES
- Sibelco
- The Quartz Corp
- Jiangsu Pacific Quartz
- Russian Quartz
- HPQ Materials
- Donghai Shihu Quartz
- Donghai Colorful Mineral
RECENT DEVELOPMENT
- "October 2021"" "- By researchers with other collaborators at the National Institute of Standards and Technology (NIST) have innovated highly sensitive methods to detect and calculate defects in transistors, a matter of critical importance for the semiconductor industry, which produces new-generation materials for next-generation devices.
- "October 2021 -" Australian mineral exploration firm Metallica Minerals has upgraded its Cape Flattery silica sand project's resource to 53.5 million tonnes at 99.19 percent silicon dioxide in situ. From the drilling program conducted in August, Ausrocks' industrial mineral specialists have projected a 40 percent hike in the resource.
REPORT COVERAGE
The report examines the global high purity silicon dioxide market’s present scenario, trends, opportunities, and challenges, and provides a forecast for the next six years, including key events as well. Other than that, the report provides s comprehensive analysis of the “global high purity silicon dioxide market” and makes forecasts about its development in the near future. market, which offers insights into all its aspects, and all the major business players in detail and provides data on factors such as drivers, restraints, and others.
This report also provides a detailed overview of the market key segments covered under this market based on the following parameters: region, application, process technology, end-user industries, and others. These segments are analysed for their current value as well as their estimated value for 2022. Additionally, the ramifications of post-pandemic international market restrictions are also outlined in the report. It also summarises the growth rate analysts on all the applications such as solar (PV), optical, electronics, and semiconductors. Regional insights based on the production rate, demand, and supply every aspect has been covered in this report. The report relies on the methodology and data research studies
| REPORT COVERAGE | DETAILS |
|---|---|
|
Market Size Value In |
US$ 785 Million in 2022 |
|
Market Size Value By |
US$ 1324.77 Million by 2031 |
|
Growth Rate |
CAGR of 6% from 2022 to 2031 |
|
Forecast Period |
2024-2031 |
|
Base Year |
2023 |
|
Historical Data Available |
Yes |
|
Regional Scope |
Global |
|
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the high purity silicon dioxide market expected to touch by 2031?
As per our research, the global high purity silicon dioxide market is projected to touch USD 1324.77 million by 2031.
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What CAGR is the high purity silicon dioxide market expected to exhibit by 2031?
The high purity silicon dioxide market is expected to exhibit a CAGR of 6.0% by the forecasted year 2031.
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What are the driving factors of the high purity silicon dioxide market?
Increasing demand in various applications sectors such as electronics, solar, and semiconductor industry, are the leading factors to drive the high purity silicon dioxide market.
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Which are the top companies operating in the high purity silicon dioxide market?
Sibelco, The Quartz Corp, Jiangsu Pacific Quartz, Russian Quartz, HPQ Materials, Donghai Shihu Quartz, Donghai Colorful Mineral are the top operating companies are the top companies operating in the high purity silicon dioxide market.
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