Quartz Market Expected to Reach $13.6 Billion by 2026

According to a new report published by Allied Market Research, titled, "Quartz Market by Product and End-User Industry: Global Opportunity Analysis and Industry Forecast, 2019-2026," global quartz market was valued at $8.23 billion in 2018 and is projected to reach $13.61 billion by 2026, growing at a CAGR of 6.4% from 2019 to 2026.

The factors driving the growth of the market include increase in use of Quartz in the end-user industries such as jewelry industry, glass manufacturing and petroleum industry.  Quartz is increasingly used in glass manufacturing industry for production of container glass, flat plate glass, specialty glass, and fiberglass. However, certain factors expected to hamper the growth of the market. For example, quartz gets damaged by excessive heat and is expensive. This factor is expected to restrain the growth of the market. Use of graphite instead of quartz is also one of the factors anticipated to restrict its growth. The global quartz market is yet to explore its full potential. The ongoing investment in developing high quality quartz is expected to offer growth to the global market. 

The global quartz market is segmented into type, end-user industry, and region. By product, it is classified into quartz surface and tile, high-purity quartz, quartz glass, quartz crystal, quartz sand, and other. The quartz surface and tile segment hold a dominant position in the market and high purity quartz segment is expected to grow with the highest CAGR during the forecast period.

By end-user industry, it is divided into electronics and semiconductor, solar, buildings and construction, medical, optics and telecommunication and other. Building and Construction would exhibit CAGR of 7.9% during 2019-2026.

Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America holds the dominant share in the global quartz market and Asia-Pacific is expected to grow with the highest CAGR during the forecast period. Presence of key players such as Hanwha L&C, Baoliya, Quarella, Cambria and Samsung Radianz are driving the growth of the market. These players are offering quartz products to electronics and semiconductor, solar, buildings and construction and medical industries. As these industries expand, it is expected that the demand for quartz will increase significantly. This factor is expected to contribute towards the growth of the market.

Major key players operating in the quartz industry includes Baba Quartz, QQE, Momentive, Saint-Gobain, QJquartzstone, Creswick Quartz, Quartz Corporation, High Purity Quartz Pty Ltd., DuPont, and Caeserstone. In order to stay competitive in the market, these market players are adopting different strategies such as product launch to introduce new and unique products in the market. In March 2018, Caesarstone Ltd., launched Frozen Terra (4601) black basalt and translucent grey quartz. Further,  in May 2018, Caesarstone Ltd., launched Excava and Frozen Terra quartz for surface applications.

Key Findings of the Study:

• In 2018, the Asia-Pacific market held a share of over 30% in the quartz market size.
• The Quartz surface and tile segment is expected to hold a dominant position in the quartz market share during the forecast period.
• The High Purity quartz segment is projected to grow at a CAGR of 7.9% by 2026.
• The Electronics and Semiconductor segment is expected to have highest CAGR in the quartz market growth. 
• The qualitative data in the report aims on the quartz market trends, dynamics, and developments in the quartz industry while the quantitative data provides information about the market share and market size in terms of revenue and volume.