Fused Silica Market to Display 5.5% CAGR Through 2030, Notes Fact.MR

DUBLIN 2, Ireland - Aug. 31, 2020 - PRLog -- The global fused silica market is anticipated to display healthy growth through 2030 with a healthy 5.5% CAGR. A recent Fact.MR report says that the coronavirus outbreak has restrained the development of the fused silica market, as governments around the world have imposed lockdown restrictions on industrial activities, including semiconductor and electronics businesses, hurting demand in the short term. IT, telecom, and research applications will aid a strong recovery in the months ahead.

"With the rising in production and sales of LCD and LED devices in Asian countries, the demand for fused silica has gone up significantly in the electronics industry. Further, governments in developing countries are also funding the electronics industry, which is will support key market developments in the years to come," says the FACT.MR report.

Fused Silica Market- Key Takeaways

• Type I fused silica is highly sought after owing to superior transparency arising from the melting process in vacuum and inert environments.
• Semiconductor fabrication applications account for major revenue share, driven by use in telecommunication and consumer electronics settings.
• Asia Pacific as a fused silica market is displaying rapid growth, fueled largely by China owing to widespread application in medical, construction, and electronics sectors.

Read Report- https://www.factmr.com/report/4038/fused-silica-market

Fused Silica Market- Driving Factors

• Major demand for fused silica in the semiconductor industry is the primary driver for market growth.
• Renewable energy system component applications are generating key growth opportunities in the market.

Fused Silica Market- Major Restraints

• Environmental concerns arising from silica mining operations is a key challenge to market growth.
• Performance limitations from metallic impurities remains a key concern for fused silica manufacturers.

COVID-19 Impact on Fused Silica Market

The fused silica market is going through a short-term downturn in 2020 owing to industrial restrictions set by governments during the coronavirus pandemic. However, extensive and critical applications in the telecom and semiconductor production sectors will enable a steady recovery by 2021, as governments are forced to relax pandemic regulations to sustain their economies. Further, high purity environments in fused silica facilities will help mitigate health concerns for workers, limiting operational challenges during this period.

Competitive Landscape

Imerys Refractory Minerals, Vesuvius, 3M, Corning, Morgan Advanced Materials, Quarzwerke GmbH, NOVORAY, PROVENCALE S.A., Remmet, and Dupre Minerals Ltd. are some major fused silica market players.

PR Source- https://www.factmr.com/media-release/1553/global-fused-si...