The High Purity Silica Market IS Estimated TO Witness High Growth Owing TO Opportunity IN Semiconduc

Author : Raj Dhote | Published On : 22 Jan 2024

High Purity Silica Market

High purity silica or high purity quartz is a crucial raw material used in the production of semiconductor wafers. It has a high melting point, hardness, chemical and dimensional stability which makes it an ideal material for producing silicon wafers used in various electronic devices. The increasing demand for high-performance and compact electronic gadgets is driving the need for pure and defect-free silicon wafers.

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 Opportunity:

The growing semiconductor industry offers significant opportunities for the growth of the high purity silica market. Rapid digitization and emergence of new technologies such as 5G, AI, IoT etc. have led to a surge in demand for semiconductors globally. The production of semiconductors requires highly pure and defect free silicon wafers which act as the building blocks. High purity silica plays a crucial role in manufacturing such wafers. With the increasing demand for advanced and powerful electronic devices, the requirement of high-performance semiconductors is also rising. This is expected to drive the adoption of high purity silica during the forecast period. Key players can capitalize on this opportunity by increasing production capacities and investing in R&D to develop high purity silica grades that can cater to the specific requirements of wafer manufacturers. penetrated.

Porter's Analysis
Threat of new entrants: The high purity silica market requires high capital investment for production equipment and facilities. This acts as a barrier for new players.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, stringent quality standards specific to end use sectors limits the options.

Bargaining power of suppliers: A few well established players dominate the supply side, enabling them to influence prices.

Threat of new substitutes: Alternatives like precipitated silica are available but not easily substitutable owing to difference in properties.

Competitive rivalry: Market fragmented with global as well as local players. Competition is based on product quality, reliability of supply and customer relationships.

SWOT Analysis
Strengths: High demand from end use industries. Rising focus on R&D for new applications.

Weaknesses: Lack of local suppliers in some regions. Supply subject to environmental regulations.

Opportunities: Growing semiconductor industry. Emerging applications in pharmaceuticals, food etc.

Threats: Volatility in raw material prices. Stringent quality standards.

Key Takeaways
The global High Purity Silica Market Share  is expected to witness high growth over the forecast period of 2024 to 2031 supported by expanding applications. 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 comprises- Asia Pacific accounts for around 60% share of the global high purity silica market led by China, Japan and South Korea. The growing semiconductor industry in these countries along with facilities expansion by leading silicon wafer manufacturers will continue driving the APAC market. North America is second largest market supported by developed end use industries and presence of global players. Europe is also a significant producer and consumer of high purity silica mainly concentrated in Western European countries.

Key players related content comprises
Key players operating in the high purity silica market are Aisin Seiki Co. Ltd, ANSTO, Czech Silicon, Evonik Industries, Sigmaphi Co. Ltd, Siberian Quartz, and Tokuyama Corporation. Key players are focusing on capacity expansion and new product development to gain higher share. For instance, ANSTO has started commercial production of nuclear-grade silicon in Australia.

For more insights, read- https://www.newsstatix.com/high-purity-silica-market-trends-size-and-share-analysis/

For more details on the report, Read- https://dailynewsmotion.weebly.com/report-blog/luxury-travel-market-is-estimated-to-witness-high-growth-owing-to-increased-adventurism