The global silicon metal market is largely driven by the huge demand for aluminum alloys and various silicon compounds from different end-use industries such as chemicals, semiconductors, aluminum, and steel. Silicon metal acts as a reducing agent and deoxidizer in steelmaking and prevents the oxidation of molten aluminum during casting of aluminum. It helps manufacture silicones, polysilicons, and other organosilicon compounds that find extensive usage in diverse industrial verticals. Silicon metal is primarily utilized to produce ferrosilicon and silicometal. The growing aluminum alloys and silicon compounds industries have substantially increased the consumption of silicon metal.
The Global silicon metal market is estimated to be valued at US$ 7.67 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the silicon metal market are Lumiere Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., Assos Of Switzerland Sa, Cuore Of Switzerland Inc., Endura Limited, Tewsn Cycling Gear Limited, Isadore Apparel, Rapha Racing Limited, 2xu Pty Ltd., Maap, Attaquer Pty Ltd., Blacksheep, Pas Normal Studios, Santini Maglificio Sportivo S.R.L. P.I. - C.F., Capo, and Pedla.
Key players are investing heavily in R&D activities to develop advanced and innovative product grades of silicon metal with enhanced purity level. They are also focusing on capacity expansion projects to cater to the rising demand from end-use industries. For instance, in 2022, Elkem ASA announced plans to boost its silicon metal production capacity in Iceland by 20% to address the strong global demand.
The Asia Pacific region represents the biggest market for silicon metal globally and is anticipated to grow at an impressive rate during the forecast period. This can be accredited to large-scale aluminum smelting and semiconductor manufacturing industries in China, Japan, Taiwan, and South Korea. Furthermore, rapid urbanization and industrial growth in India have increased the use of aluminum, steel, and chemicals in the country. This has paved opportunities for silicon metal producers to expand their geographical footprint in the region.
Market Drivers
Growing aluminum alloys industry: Silicon metal is predominantly consumed for the production of aluminum alloys for various applications such as transportation, packaging, construction and machinery. The expanding aluminum alloys market is expected to boost consumption of silicon metal over the coming years.
Surging demand for polysilicon: Polysilicon produced from silicon metal is vital for the semiconductor and solar photovoltaic industries. The exponential growth of the semiconductor and solar power sectors worldwide will augment global silicon metal demand in the foreseeable future.
Market Restraints
Volatility in raw material prices: Fluctuating prices of raw materials like quartz used for manufacturing silicon metal could negatively impact the overall production cost of silicon metal producers.
Stringent environmental regulations: Production of silicon metal involves energy-intensive processes that release harmful emissions. Strict environmental norms in several countries may increase operational costs for manufacturers.
Segment Analysis
The Silicon Metal Market Demand can be segmented into ferrosilicon, aluminum silicide, and others. Ferrosilicon dominates the market with a share of over 60% of the total market. This is because ferrosilicon is used in making steel as it enhances steel durability, strength and castability. It is also used in making semiconductors. Aluminum silicide is the second largest segment as it is used in making aerospace and defense components owing to its high strength to weight ratio.
Global Analysis
The Asia Pacific region dominates the global silicon metal market with over 40% share owing to high demand from countries such as China, Japan and India. China dominates the Asia Pacific region due to presence of large number of steel and automobile manufacturing plants. Europe and North America are other major regions driven by widespread end use industries and stringent manufacturing guidelines. However, the market is witnessing fastest growth in Latin America owing to expanding industrial infrastructure and automotive industry in countries such as Brazil and Mexico. The Middle East and Africa region is also projected to offer high growth potential during the forecast period majorly driven by UAE and GCC countries.
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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.
