Electronics and Semiconductor Industry to Grab 57% of Fused Silica Market Share
Fact.MR's latest study on the global fused silica market provides a detailed analysis of various drivers, trends, and opportunities from 2022 to 2032. In addition, it presents elaborate information about the leading segments in terms of form, application, end-use industries.
NEW YORK, Jan. 20, 2022 /PRNewswire/ -- The fused silica market is expected to develop at a CAGR of 5.5% from 2022 to 2032, from USD 2,034 million in 2022 to USD 3,474 million in 2032.
Fused silica production peaked at roughly 50 KT in 2021, accounting for 18% of total silica output, and is expected to expand at a CAGR of around 5.0 percent through 2032, with production expected to reach 85 KT.
Long-term mechanical and chemical stability, as well as considerable optical qualities, are attributed to properties of fused silica such as heat resistance and zero thermal expansion. As a result, fused silica is becoming increasingly used in the chemical and electrical and electronics industries.
The semiconductor industry was the largest consumer of fused silica. This is mostly due to the high purity of fused silica, which allows it to be employed in semiconductor applications.
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Furthermore, rising demand for electrical appliances and electronic devices is expected to boost fused silica output significantly over the next decade, particularly in high-growth regions like Asia Pacific. Over the next ten years, Asia Pacific, as a semiconductor manufacturing powerhouse, is expected to drive silica demand.
Due to its multibillion-dollar semiconductor sector, South Korea is one of the main consumers of silicon. South Korea is also a center for the electrical and electronic industries, and has been identified as a key consumer of silicon. Furthermore, top South Korean chipmakers like as Samsung and SK Hynix have been seen investing heavily in semiconductor development, which will increase demand for fused silica in the next years.
For example, by 2030, the country aims to invest a total of USD 450 billion in chip manufacturing, which will significantly increase silica consumption in South Korea.
Report Attribute | Details |
Market size value in 2021A | USD 1,936 Million |
Market value estimated in 2022E | USD 2,034 Million |
Market value forecast in 2032F | USD 3,474 Million |
Global Growth Rate (2022-2032) | CAGR 5.5% |
Key Takeaways:
- South Korea is poised to generate an absolute $ opportunity worth USD 300 Million by 2032.
- China Fused Silica Market is expected to generate absolute $ opportunity worth USD 500 Million.
- By application, fused silica as glass substrate to provide an absolute $ opportunity worth USD 700 Million.
- By end-use, electronics and semiconductor is expected to account for 57% of the global fused silica market share.
Growth Drivers:
- Rising demand for electrical appliances and electronic devices to spur the production of fused silica.
- Growing adoption of optical fibres is expected to drive the global fused silica market.
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Competitive Landscape
Players in the silicon manufacturing industry have been seen expanding their production capacity in order to obtain market share and hence a competitive edge.
In a recently released analysis, Fact.MR provides thorough information regarding price points of leading fused silica producers positioned throughout regions, as well as sales growth information, production capacity, and speculative production expansion.
Key players in the Fused Silica Market include:
- NOVORAY
- Imerys Refractory Minerals
- Corning
- Vesuvius
- Dupré Minerals Limited
- Huang He Minerals Co.
- HeNan JunSheng Refractories Limited
- PROVENCALE S.A.
- Quarzwerke GmbH
More Valuable Insights on Fused Silica Market
Fact.MR provides an unbiased analysis of the fused silica market, presenting historical demand data (2017-2021) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global fused silica market with a detailed segmentation on the basis of:
- By Form :
- Grains
- Flours
- By Application :
- Investment Casting
- Refractories
- Semiconductor
- Glass Substrates
- Others
- By End-Use Industries :
- Foundry
- Electronics & Semiconductor
- Solar Industries
- Photonics
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Questions Covered in Fused Silica Market Report
- The report offers insight into the Fused silica market demand outlook for 2022-2032.
- The market study also highlights projected sales growth for Fused silica market between 2022 and 2032.
- Fused silica market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Fused silica market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
Explore Fact.MR's Coverage on the Chemical & Materials Domain -
High Purity Silica Market Insights - Rising demand for high pure silica in electronics and semiconductor appliances is expected to boost sales. The rise of the automotive industry has provided manufacturers with several options.
Industrial Silica Sand Market Analysis - The rapid expansion of traditional businesses such as glass manufacturing is credited with driving industry growth. Silicon dioxide is a key component in the production of glass, and it can be found in large quantities in industrial silica sand.
Fumed Silica Market Forecast - The pharmaceutical industry saw a surge in demand for fumed silica, which led to new applications. The growing cosmetics and personal care market in East and South Asia has boosted demand for fumed silica.
Colloidal Silica Market Trends - Colloidal silica is gaining pace in the electronics sector, owing to the increasing output of electronic components, particularly semiconductors, for which silica is utilized as an abrasive polish.
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