The synthetic quartz market is projected to reach USD 95.0 Million by 2022 from USD 72.4 Million in 2017, at a CAGR of 5.6% from 2017 to 2022. The growth of the market can be attributed to the use of synthetic quartz in frequency-control oscillators and frequency filters in the electronics industry. Synthetic quartz is also used in special optical applications, such as prism and UV lamps for water filtration, and is essential for the manufacturing of communication equipment, computers, and many consumer goods, such as electronic games and television receivers.
The key players operating in the synthetic quartz market include NIHON DEMPA KOGYO (Japan), Shin-Etsu (Japan), Seiko Epson (Japan), Murata Manufacturing (Japan), Kyocera (Japan), and TXC Corporation (Taiwan), among others.
In the synthetic quartz market, substantial investments have been made towards geographic expansions, joint ventures, agreements, and acquisitions in the past few years by key companies such as Murata Manufacturing, Shin Etsu Chemical, NIHON DEMPA KOGYO, Kyocera, Heraeus Holding, Seiko Epson, and TXC Corporation.
Founded in 1950 and headquartered in Kyoto, Japan, Murata Manufacturing is one of the leading companies in the synthetic quartz market involved in the manufacturing of modules and components for the electronics industry. Murata Manufacturing has been focusing on acquisitions to enhance its position in the synthetic quartz market. In November 2016, Murata Manufacturing acquired Primatec Inc. (Japan) to increase its electronic material portfolio by utilizing the offerings of Primatec. This acquisition was part of the company’s strategy to strengthen and expand its businesses in the electronics market.
Founded in 1926 and headquartered in Tokyo, Japan, Shin-Etsu, another leading company in the synthetic quartz market is involved in the manufacturing of electronics and functional materials. The company has a diverse customer base ranging from small entities to well-established players, and the company extensively focuses on organic and inorganic growth strategies to enhance its position in the synthetic quartz market. In June 2015, Shin-Etsu invested approximately USD 58.3 Million in constructing a new plant in Echizen City (Japan) to expand its photomask blanks business. The plant started its operations in 2016. With this expansion, the company aims to cater to the rapidly increasing demand for cutting-edge photomask blanks.
Synthetic Quartz Market by Type (Synthetic Quartz Crystal, Synthetic Quartz Glass), Application (Electronics & Electrical, Automotive, Construction), Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2022
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