NEW YORK , June 1, 2023 /PRNewswire/ -- The global silicon metal market size is estimated to increase by USD 2,034.25 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 5.01% during the forecast period. An increase in demand for aluminum-silicon alloys notably drives the silicon metal market growth. These alloys witness a significant increase in demand from the automotive and transportation industries. They are popular because they offer a unique combination of desirable properties, such as the casting of complex shapes combined with a good strength-to-weight ratio, which gives these materials advantages over cast iron, lower density, and better mechanical properties. Aluminum silicon alloys are used in the production of sheet metal and wire for welding and brazing, and some of the piston alloys are extruded for forging materials. Hence, such factors drive market growth during the forecast period. Discover some insights on the market size historic period (2017 to 2021) and forecast (2023-2027) before buying the full report -Request a sample report
Silicon metal market – Vendor Analysis Vendor Landscape - The global silicon metal market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer silicon metal in the market are Anyang Wanhua Metal Material Co. Ltd., Dow Inc., Elkem ASA, Ferroglobe Plc, Henan Star Metallurgy Material Co. Ltd., Hoshine Silicon Industry Co. Ltd., Ligas de Aluminio S.A., Minasligas, Mississippi Silicon, Ningxia Darshan Silicon Industry Co. Ltd., PCC SE, RIMA INDUSTRIAL, RW silicium GmbH, Shin Etsu Chemical Co. Ltd., Simcoa Operations Pty Ltd., United Company RUSAL, Wacker Chemie AG, Westbrook Resources Ltd., Wynca Group, and Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd. and others. Silicon Metal Alloy
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Dow Inc. - The company offers silicon metal solutions to industries such as automotive, building and construction, personal care, electronics, and lighting.
Elkem ASA - The company offers silicon metal solutions.
Ferroglobe Plc - The company offers chemical and metallurgical grade silicon metal products.
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Silicon Metal Market - Segmentation Assessment
Segment Overview Technavio has segmented the market based on type (metallurgy grade and chemical grade), application (aluminum alloys, semiconductors, solar panels, stainless steel, and others), and geography (APAC, North America , Europe , South America , and Middle East and Africa ).
The market share growth by the metallurgy grade segment will be significant for overall market growth during the forecast period. Metallurgical silicon metal is used to make other alloys including magnesium and titanium alloys. These alloys are used in various industries such as construction and aerospace. Other than its use in metallurgical applications, metallurgical silicon metal is also used in the production of silicone compounds used in various industries such as healthcare, personal care, and electronics. Furthermore, the high purity of metal silicon metal makes it suitable for use in applications where purity is of the utmost importance. Hence, such factors drive segment growth during the forecast period.
Geography Overview By geography, the global silicon metal market is segmented into APAC, North America , Europe , South America , and Middle East and Africa . The report provides actionable insights and estimates the contribution of all regions to the growth of the global silicon metal market.
APAC is estimated to account for 43% of the global market growth during the forecast period. The demand for silicon metal in the Asia-Pacific region can be attributed to factors such as optimistic economic growth, the ready availability of raw materials, cheap labor, and electricity costs. Moreover, the region witnesses the emergence of government policies aimed at increasing domestic energy production through solar panels. Furthermore, countries such as India and China increasingly witness rapid growth in the construction sector. This drives the demand for silicon metal, further supporting the expansion of the silicon metal market in the Asia-Pacific region.
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Silicon Metal Market – Market Dynamics
Investment opportunities in the emerging market are an emerging trend in the silicon metal market growth.
Companies developing and implementing innovative production processes such as plasma technology can offer attractive investment prospects.
But it is important to note that, like all investments, investing in the silicon metals market involves risk and investors should perform thorough research and analysis before making any investment decision. This, in turn, increases the demand for the silicon metal market during the forecast period.
Hence, trends such as companies focusing on efficient and sustainable production methods, and technological advances drive the market demand during the forecast period.
The high production cost of silicon metal challenges the silicon metal market growth during the forecast period.
Quartz and carbon are some of the basic raw materials used to make silicon metal. These are similar to those used to make ferrosilicon. But a high level of purity is required to meet silicon manufacturing requirements and certain impurities, such as iron, are difficult to remove once they enter the furnace, which significantly affects the production of silicon metal.
Quartz is considered to be of good quality if the iron content in it is significantly lower than the quartz used for ferrosilicon.
Along with the importance of chemical purity, other physical parameters have a significant impact on furnace function and efficiency. Resultantly, the supply of high-quality quartz has been a strategic factor in silicon production.
Hence, such challenges impede market growth of silicon metal during the forecast period.
Drivers, Trends and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!
What are the key data covered in this Silicon Metal Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the silicon metal market between 2023 and 2027
Precise estimation of the size of the silicon metal market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the silicon metal market across APAC, North America , Europe , South America , and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of silicon metal market vendors
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The silicon carbide (SiC) market is estimated to grow at a CAGR of 12.33% between 2022 and 2027. The size of the market is forecast to increase by 2.57 million tons. This report extensively covers market segmentation by application (steel and energy, electronics, automotive, aerospace and defense, and medical), product (black SiC, green SiC, and others), and geography (APAC, Europe , North America , South America , and Middle East and Africa ). The increase in demand for SiC fibers in the aerospace sector is notably driving market growth.
The silicon nitride market size is expected to increase to USD 45.84 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.12%. Furthermore, this report extensively covers silicon nitride market segmentation by type (reaction-bonded silicon nitride, hot-pressed silicon nitride, and sintered silicon nitride) and geography (APAC, Europe , North America , South America , and Middle East and Africa ). The increasing demand for solar energy is notably driving the silicon nitride market growth.
Accelerate at a CAGR of 5.01%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, India, Japan, and Russia, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Anyang Wanhua Metal Material Co. Ltd., Dow Inc., Elkem ASA, Ferroglobe Plc, Henan Star Metallurgy Material Co. Ltd., Hoshine Silicon Industry Co. Ltd., Ligas de Aluminio S.A., Minasligas, Mississippi Silicon, Ningxia Darshan Silicon Industry Co. Ltd., PCC SE, RIMA INDUSTRIAL, RW silicium GmbH, Shin Etsu Chemical Co. Ltd., Simcoa Operations Pty Ltd., United Company RUSAL, Wacker Chemie AG, Westbrook Resources Ltd., Wynca Group, and Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
3.4 Market outlook: Forecast for 2022-2027
4.1 Global silicon metal market 2017 - 2021
6.3 Metallurgy grade - Market size and forecast 2022-2027
6.4 Chemical grade - Market size and forecast 2022-2027
7.3 Aluminum alloys - Market size and forecast 2022-2027
7.4 Semiconductors - Market size and forecast 2022-2027
7.5 Solar panels - Market size and forecast 2022-2027
7.6 Stainless steel - Market size and forecast 2022-2027
7.7 Others - Market size and forecast 2022-2027
9.3 APAC - Market size and forecast 2022-2027
9.4 North America - Market size and forecast 2022-2027
9.5 Europe - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 China - Market size and forecast 2022-2027
9.9 India - Market size and forecast 2022-2027
9.10 Japan - Market size and forecast 2022-2027
9.11 Russia - Market size and forecast 2022-2027
9.12 US - Market size and forecast 2022-2027
10.3 Impact of drivers and challenges
12.3 Anyang Wanhua Metal Material Co. Ltd.
12.7 Hoshine Silicon Industry Co. Ltd.
12.17 Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd.
13.3 Currency conversion rates for US$
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