Market Research Report
Asia Pacific Quartz Market Forecast 2020-2028
|Published by||Inkwood Research||Product code||914670|
|Published||Content info||147 Pages
Delivery time: 2-3 business days
|Asia Pacific Quartz Market Forecast 2020-2028|
|Published: March 23, 2020||Content info: 147 Pages||
The Asia Pacific quartz market is evaluated to register a CAGR of 5.18% during the projected period of 2020-2028. One of the major factors propelling the quartz market growth in the region is the surge in the production of solar PV cells.
The high growth rate of the Asia Pacific quartz market is analyzed further by segmenting the region into countries such as Vietnam, South Korea, India, Australia & New Zealand, Thailand, China, Indonesia, Japan, and the rest of Asia Pacific that includes Philippines, Taiwan, Bangladesh, Malaysia, Sri Lanka, and others. In Indonesia, government expenditure on infrastructure and urbanization has increased, with the growing demand for residential and commercial properties. IRENA expects the installed solar power capacity of Indonesia to grow considerably in scale by 2030, driven by government initiatives and PLN. Thailand is witnessing an increase in the demand for energy, along with increasing dependence on non-indigenous sources of energy. Electrical and electronics manufacturing accounts for about 30-35% of the total exports from the region.
Vietnam has ample opportunities for growth, due to the increasing demand for infrastructure and housing development. In Australia, there is stable growth in the non-residential sector and engineering construction, due to large-scale construction work conducted by the government. The strong growth in the manufacturing sectors in Australia and New Zealand will boost the adoption of quartz for consumer durables. Malaysia emerged as the biggest importer of quartz, experiencing a rapid increase since 2014. In the Philippines, the gains in the domestic economy, the increasing employment, and decreasing poverty are driving the construction market growth.
Nihon Dempa Kogyo Co, Ltd, AGC Inc, Jiangsu Pacific Quartz Co, Ltd, SUMCO Corporation, Kaide Quartz Company, etc. are some of the renowned companies functioning in the market.