NEW YORK, November 29, 2016 /PRNewswire/ -- Global High Purity Quartz Market Volume Expected to Witness a CAGR of 8.3% Between 2016 and 2024; Asia Pacific Anticipated to Continue its Dominance Through 2024 According to the latest market report published by Persistence Market Research titled 'Global Market Study on High Purity Quartz: Semiconductor Application Segment Estimated to Be Pegged at 28,884 Tons by 2016 End', global sales of high purity quartz is estimated to be valued at US$ 555.1 Mn in 2016 and is projected to increase at a CAGR of 8.3% over the forecast period. (Logo: http://photos.prnewswire.com/prnh/20161114/438683LOGO )
High Purity Quartz is Quartz (SiO2) with 99.99%+ purity and is rare. Most naturally occurring quartz contains a variegated range of impurities among which contamination from substantial elements such as Al, Ti and Li is impossible to remove, if structurally bound to silica. Henceforth, Quartz wilt ultra-low content of these impurities commands significantly higher prices, and are considered as High Purity Quartz. The Global HPQ Industry is a highly specialized and rigidly consolidated market, with two producers handling more than 80% of the global production. HPQ is used in diverse range of special application and can be considered as an integral component in solar and semiconductor manufacturing chain. View Report Overview and Research Methodology@http://www.persistencemarketresearch.com/market-research/high-purity-quartz-market.asp The ever growing demand for solar PV, due to rising number of government initiatives to promote green energy, Paris Climate Change Agreement and increasing developments in Lithium battery storage, is fuelling demand for production of mono-C-Si cells, in turn fuelling more demand for High Purity Quartz. Though, solar and semiconductor accounts for a majority of demand for high purity quartz, but demand of HPQ is expected to grow beyond these applications, as lighting, telecom, optic and microelectronics industry sees rampant growth. HPQ's unique mechanical and thermal properties coupled with extremely low concentration of impurities make it an ideal component for a large number of special applications.
In terms of value, the Solar Application segment is anticipated to witness a CAGR of 9.7% over the forecast period. Similarly, for semiconductor application, demand for HPQ is closely related to new wafer fabrication units to be built, and the transition towards 450 mm wafers.