The global silicon metal market is estimated to be valued at US$ 6.1 billion in 2020 and is expected to reach a market value of US$ 9.7 billion by 2028, growing at a CAGR of 4.4% from 2021 to 2028, according to a report by Coherent Market Insights.
A) Market Overview:
Silicon metal is a crucial element in various industries such as electronics, construction, and energy. It is used in the production of aluminum alloys, silicones, and solar panels. The increasing demand for solar panels is driving the growth of the silicon metal market. Silicon metal offers several advantages, including high heat resistance, low chemical reactivity, and excellent electrical properties, making it a preferred choice in these industries.
B) Market Key Trends:
One key trend driving the Silicon Metal Market is the increasing adoption of solar power generation worldwide. The growing focus on renewable energy sources and the need to reduce carbon emissions have led to a significant increase in the installation of solar panels. Silicon metal is a vital component in photovoltaic cells used in solar panels. The increasing demand for solar panels will continue to drive the growth of the silicon metal market.
For example, China is the largest market for solar panels globally. The Chinese government has set ambitious goals for solar energy installations, aiming to reach 35 GW by 2025. This significant demand for solar panels in China is expected to boost the demand for silicon metal in the region.
C) PEST Analysis:
Political: Governments worldwide are promoting clean energy and renewable sources, leading to favorable policies and incentives for the solar industry. This political support is driving the demand for silicon metal in the production of solar panels.
Economic: The decreasing prices of solar panels and the increasing cost competitiveness of solar energy are driving the demand for silicon metal. The economic viability of solar power generation is attracting investments in the industry.
Social: The growing awareness about climate change and the need for sustainable energy sources are driving the adoption of solar power generation, increasing the demand for silicon metal.
Technological: Technological advancements in the production of solar panels are driving the efficiency and cost-effectiveness of silicon metal. Continuous research and development efforts are improving the performance of silicon-based photovoltaic cells.
D) Key Takeaways:
1: The global silicon metal market is expected to witness high growth, exhibiting a CAGR of 4.4% over the forecast period. This growth is primarily driven by the increasing demand for solar panels. The shift towards renewable energy sources and the need to reduce carbon emissions are boosting the installation of solar panels, thus driving the silicon metal market.
2: Asia Pacific is expected to be the fastest-growing and dominating region in the Silicon Metal Market. This is attributed to the high demand for solar panels in countries like China, Japan, and India. The favorable government policies and incentives for solar power generation in these countries are driving the demand for silicon metal.
3: Key players operating in the global silicon metal market include Ferroglobe PLC, Elkem, Liasa, Mississippi Silicon, RIMA Industrial, Rusal, Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd, PCC SE, Hoshine Silicon Industry Co. Ltd, Anyang Huatuo Metallurgy, Minasligas, Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd, and Dow. These players are focusing on research and development activities to enhance their product offerings and meet the growing demand for silicon metal in various industries.
In conclusion, the global silicon metal market is poised for significant growth driven by the increasing demand for solar panels. The shift towards renewable energy sources, favorable government policies, and technological advancements in the industry will continue to fuel the growth of the silicon metal market. Key players are expected to invest in research and development to stay competitive in the market and cater to the growing demand.
The report presents a comprehensive overview, market shares, and growth opportunities of the Silicon Metal Market by type, application, key manufacturers and key regions and countries.
Exceptional problems require exceptional people to solve, while exceptional people are invariably drawn towards solving exceptional problems and with this belief DBMR team works with industry analysts, consultants and domain experts, leveraging their global experience, helping to deliver excellence in all assignments that are undertaken.Silicon metal market will reach an estimated valuation by 2027, while registering this growth at a rate of 4.90% for the forecast period of 2020 to 2027.Ask For Sample PDF| Request At https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-silicon-metal-marketUnlock new opportunities in Silicon metal market; the latest release from Data Bridge Market Research highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.Competition Analysis: Some of key competitors or manufacturers included in the study are Elkem ASA, Ferroglobe, H.C. Starck GmbH, Library and Information Association of South Africa, Mississippi Silicon., Panadyne, Rima S.r.l., RUSAL, Sil'tronix Silicon Technologies, Henan ALOY New Material Co., LTD, Simcoa, among other domestic and global players.
Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately.
The titled segments and sub-section of the market are illuminated below:Global Silicon Metal Market, By Product Type (Metallurgy Grade and Chemical Grade)Application (Aluminium Alloys, Semiconductors, Solar Panels, Stainless Steel, and Other Applications)Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa)Key benefits of the reportThe global Silicon Metal Market is also presented to the readers as a holistic snapshot of the competitive landscape within the given forecast period.
The report also focuses on all the recent industry trends.
It presents a comparative detailed analysis of the all regional and player segments, offering readers a better knowledge of where areas in which they can place their existing resources and gauging the priority of a particular region in order to boost their standing in the market.Early buyers will receive 20% customization on reports.
As per the report published by Allied Market Research, the global silicon metal market is anticipated to garner $8.9 billion by 2027, registering at a CAGR of 5.5% from 2020 to 2027.
The report highlights market characteristics, market potential, and growth by segmentation, and competitive landscape.Download Brochure: https://www.linkedin.com/feed/update/urn:li:activity:6773180283031175168Eswara Prasad, a Manager, Materials & Chemicals at Allied Market Research, stated, “Versatility of silicones, rise in demand for aluminum-silicon (AI-Si) alloys, and surge in the use of silicon metal for semiconductor applications have boosted the growth of the global silicon metal market.
On the contrary, efforts to reduce the cost of production are expected to open lucrative opportunities for the market players in the future.”The global silicon metal market is studied across several regions such as North America, Europe, Asia-Pacific, and LAMEA.
The market across the Asia-Pacific is projected to manifest the highest CAGR of 6.4% during the forecast period.
Moreover, the region is expected to dominate the market in terms of revenue during the forecast period.Request Free Sample Report Now: https://www.facebook.com/alliedmarketresearch/photos/a.228006404029264/1877709022392319The global silicon metal market is segmented on the basis of type and application.Based on type, the metallurgical grade segment is estimated to portray the highest CAGR of 5.9% from 2020 to 2027.
Moreover, the segment is projected to hold the highest share of the market during the forecast period.On the basis of application, the semiconductors segment is expected to register the highest CAGR of 6.2% through 2027.
It is the second most abundant element in the Earth's crust after oxygen, naturally occurring in various forms of silicon dioxide or silicates and very rarely in its pure form in volcanic exhalations.Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/102735/global-silicon-metal-2021-2027-460 The top 5 manufacturers have about 33% revenue market share.
The segmental analysis focuses on sales, revenue and forecast by region, by country, company, type, application and by sales channels for the period 2016-2027.Segment by Type, the Silicon Metal market is segmented intoContent >99.5%Content 99.0%-99.5%Content 98.0%-99.0%Segment by Application, the Silicon Metal market is segmented intoAluminum IndustrySilicone CompoundsPhotovoltaic Solar CellsElectronic SemiconductorsRegional and Country-level Analysis:North AmericaUnited StatesCanadaAsia-PacificChinaJapanSouth KoreaIndiaSoutheast AsiaAustraliaRest of Asia-PacificEuropeGermanyFranceU.K.ItalyRussiaNordic CountriesRest of EuropeLatin AmericaMexicoBrazilRest of Latin AmericaMiddle East & AfricaTurkeySaudi ArabiaUAERest of MEACompetitive Landscape and Silicon Metal Market Share AnalysisSilicon Metal market competitive landscape provides details and data information by companies.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021.
Details included are company description, major business, Silicon Metal product introduction, recent developments, Silicon Metal sales by region, type, application and by sales channel.The major companies include:FerroglobeElkemSimcoaWackerRima GroupRW SiliciumUC RUSALG.S.
Market dynamics scenario, along with growth opportunities of the market in the years to come3.
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects4.
