Silicon metal is a lustrous and grey semi-conductive metal and is widely used to manufacture solar cells, microchips, steel, and others. It acts as a base material for different products and hence has an important role in the consumer and industrial sector. The silicon metal manufacturing process is highly energy intensive and it can be manufactured by smelting immersed electric arc furnaces.
According to Ken Research Analysis, the Global Silicon Metal Market is expected to record a positive CAGR of ~5% during the forecast period (2022-2028) and is expected to reach nearly US$ 8 billion by 2028, owing to increasing demand for silicon metal in various industries such as automobiles, solar, battery materials, refractory materials, and others.
Growing demand for silicon in the automotive industry along with increasing penetration of electric vehicles globally are anticipated to propel the growth of the global silicon metal market during the forecast period.
- The increased use of silicon or aluminum-silicon alloys in the production of automobiles due to their properties such as corrosion resistance, low thermal expansion, low wear rates, and others is likely to propel the growth of the global silicon metal market.
The global silicon metal market faces challenges due to the shortage of metals like silicon.
- The supply shortage of silicon metals due to their high usage in the production of semiconductor materials along with the high prices of semiconductors is also expected to restrict the growth of the market.
The COVID-19 pandemic negatively impacted the silicon metal market due to disruption in the supply chain, shortage of workers for the mining industry, shortage of raw materials, and others. In addition, the abrupt shutdown of operations has impacted economic growth, and thus, changed the pattern of consumer spending patterns.
Key Trends by Market Segment:
By Product Type: The metallurgy grade segment held the largest share of the global silicon metal market by product type in 2021, owing to the growing demand for high-purity metals for the production of steel and cast iron.
- The expansion of the solar and semiconductor industry along with the increase in innovative technologies to lower cost production and surging demand for renewable sources of energy globally is expected to fuel the demand for the segment in the global silicon metal market.
By Application: The aluminum alloys segment accounted for the largest share of the global silicon metal market in 2021, attributed to the growing demand for silicon metals for the production of automotive aluminum alloy.
- The increase in government initiatives and favorable policies for the electric vehicle and rising demand for aluminum alloy to produce lightweight vehicles, is anticipated to aid to the growth of the segment in the global silicon metal market.
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTQw
By Geography: Asia-Pacific region accounted for the largest share of the global silicon metal market in 2021, due to the presence of a large production base of silicon and aluminum.
Growing consumption of silicon metal in the automotive industry coupled with the increasing number of initiatives taken by the governmental body to accelerate the solar industry, is expected to augment the growth of the region in the silicon metal market.
Competitive Landscape
The silicon metal market is highly competitive with ~300 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in silicon metal.
Regional players comprise ~55% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. Some of the major players in the market include Ferroglobe, Dow, Elkem ASA, RIMA INDUSTRIAL, RusAL, LIASA, Hoshine Silicon Industry Co., Ltd., Zhejiang kaihua yuantong silicon industry co. LTD, Anyang Wanhua Metal Material Co. Ltd., and Shin-Etsu Chemical Co., Ltd., among others.
The leading global silicon metal companies such as Ferroglobe, Dow, and Elkem ASA are highly focused on expanding their business and production capacity of silicon metal to meet the demand of end-users.
Key Topics Covered in the Report
Snapshot of the Global Silicon Metal Market
Industry Value Chain and Ecosystem Analysis of the Silicon Metal Market
Market size and Segmentation of the Global Silicon Metal Market
Historic Growth of the Overall Global Silicon Metal Market and Segments
Competition Scenario of the Silicon Metal Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Silicon Metal Industry
Overview, Product Offerings, and Strategic Developments of Key Competitors
COVID-19 Impact on the Overall Global Silicon Metal Market
Future Market Forecast and Growth Rates of the Global Silicon Metal Market and by Segments
Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
Analysis of the Silicon Metal Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Production/Supply and Consumption/Demand Hubs in Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Silicon Metal Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Region
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTQw
Major Companies Mentioned in the Report
Ferroglobe
Dow
Elkem ASA
RIMA INDUSTRIAL
RusAL
LIASA
Hoshine Silicon Industry Co., Ltd.
Zhejiang kaihua yuantong silicon industry co. LTD
Anyang Wanhua Metal Material Co. Ltd.
Shin-Etsu Chemical Co., Ltd.
Notable Emerging Companies Mentioned in the Report
Wackey Chemie AG
Mississippi Silicon LLC
PCC BakkiSilicon hf
Minasligas
Henan ALOY New Material Co. Ltd.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
Silicon Metal Manufacturers
Emerging and Startup Companies in Silicon Metal
Different Types of Silicon Metal Research Labs
Government Ministries and Departments of Minerals
Government Departments of Electronics
Ministries and Departments of Paint & Coatings
Importers and Distributors of Silicon Metal
Chemical and Metals Market Research & Consulting Firms
Semiconductor Research and Development Associations
Investment Banking & Financial Institutes
PE and VC Firms focused on Chemicals and Metals Industries
Research & Development Institutes for Silicon Metal Sector
Silicon Metal Providers
Silicon Metal Suppliers
Investors in Silicon Metal Start-ups
Environmental Regulatory Bodies
Silicon Metal Distributors
Potential Entrants into Silicon Industry
Period Captured in the Report
Historical Period: 2017-2021
Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below:-
