PUNE, India, October 12, 2017 /PRNewswire/ --
The report"Synthetic Quartz Marketby 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" published by MarketsandMarkets', the market is estimated at USD 72.4 Million in 2017 and is projected to reach USD 95.0 Million by 2022, at a CAGR of 5.6% from 2017 to 2022. Factors such as growing demand for smartphones and connected devices, increasing adoption of 4G and LTE networks, and rising demand for advanced electronic devices and equipment from the healthcare industry are driving the growth of the Synthetic Quartz Market across the globe.
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Browse103 Market Data Tables and31 Figures spread through121Pages and in-depth TOC on"Synthetic Quartz Market"
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Based on type, the synthetic quartz crystal segment is projected to lead the Synthetic Quartz Market during the forecast period, in terms of value.
Based on type, the synthetic quartz crystal segment is estimated to lead the Synthetic Quartz Market in 2017, in terms of value. Synthetic quartz crystals are used in various industries, including electronics & electrical, automotive, aerospace, defense, and others. The growth of this segment of the market can be attributed to the increasing adoption of wireless technologies across industries, as most wireless devices use synthetic quartz crystal oscillators to generate a stable frequency.
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Among applications, the electronics & electrical segment is estimated to lead the Synthetic Quartz Market, in terms of value.
Based on application, the electronics & electrical segment is estimated to lead the Synthetic Quartz Market in 2017, in terms of value. Electronics & electrical is one of the prominent application segments for synthetic quartz as the global electronics sector has been showing robust growth in recent years with the evolution of smartphones and tablet PCs. Rising disposal income in emerging economies of Asia Pacific has been resulting in the adoption of the electronics & electrical devices across the region, thus helping the Synthetic Quartz Market to witness robust growth in the coming years.
The Synthetic Quartz Market in Asia Pacific is projected to grow at the highest CAGR from 2017 to 2022, in terms of value.
The Asia Pacific region is a highly potential market for synthetic quartz. Asia Pacific is projected to be the fastest-growing Synthetic Quartz Market during the forecast period. The primary reason behind this growth projection is the expansion of telecommunication networks in China, South Korea, India, and other emerging countries of the region. Asia Pacific is also the largest producer and consumer of smartphones, laptops, TVs, and other consumer electronic devices in the world. This, coupled with the increasing demand for consumer electronics in the region, is expected to boost the Synthetic Quartz Market in Asia Pacific in the coming years.
The key players operating in the Synthetic Quartz Market are NIHON DEMPA KOGYO (Japan), Shin-Etsu (Japan), Seiko Epson (Japan), Murata Manufacturing (Japan), Kyocera (Japan), and TXC Corporation (Taiwan).
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