February 21, 2024
High Purity Silica Market

The global High Purity Silica Market Growth Accelerated by Increasing Demand from Electronics and Fiber Optics Industries

High purity silica is a high-quality amorphous form of silicon dioxide that is extremely pure, chemically non-reactive and compact in nature. It has a wide range of industrial applications owing to its excellent optical, mechanical and insulating properties. High purity silica is used as a raw material in the production of optic fibers, quartz glass products, and semiconductors as it has high transparency in the deep ultraviolet region.

The global High Purity Silica Market is estimated to be valued at US$ 8.64 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing demand from the electronics and fiber optic industries is the primary factor driving the growth of the high purity silica market. Optical fibers made from high purity silica are integral components for telecommunication networks and rising investments in infrastructure development projects are accelerating the consumption of high purity silica. Furthermore, semiconductor manufacturers extensively use high purity quartz crucibles and linings during the crystal growing and pulling processes which is also contributing to the growth of the market. With increasing global internet penetration and rollout of 5G networks, the demand for high purity silica is expected to increase substantially over the forecast period.

Segment Analysis
The global high purity silica market is dominated by the electronics sub-segment owing to high purity silica’s extensive use in microchips, printed circuit boards, and displays. The electronics sub-segment accounts for over 35% of the total market share as high purity silica is used as a raw material in the production of semiconductor devices and other electronics used in smartphones, computers, and other consumer electronic devices.

Key Takeaways
The Global High Purity Silica Market Demand is expected to witness high growth. The global High Purity Silica Market is estimated to be valued at US$ 8.64 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

Regional analysis: Asia Pacific dominates the high purity silica market and is expected to grow at the highest CAGR during the forecast period. Countries like China, Japan, South Korea, and Taiwan are major electronics manufacturing hubs contributing to the growth of the high purity silica market in the region.

Key players: Aisin, Shin-Etsu Chemical Co. Ltd., TR International Inc, Okmetic, Qsil, Sibelco, and SRL. Key players operating in the high purity silica market are Aisin, Shin-Etsu Chemical Co. Ltd., TR International Inc, and Sibelco. These companies are focusing on expanding their global presence through new product launches and strategic partnerships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it