According to the latest research from SkyQuest Technology, the Global silicon metal market was valued at USD 7.51 Billion in 2021, and it is projected to reach USD 10.92 Billion by 2028, growing at a CAGR of 5.50% during the forecast period from 2022 to 2028. The research provides a Silicon Metal Market up-to-date analysis of the current market landscape, latest trends, drivers and overall market environment.
Rising awareness about the harm caused by carbon emissions and efforts to reduce them in the coming times is a major boost for the global silicon metal market, as silicon contributes a lot to the products developed to reduce carbon emissions , such as solar panels and electric cars. . Metallic silicon is produced by treating silica with thermal reduction of quartz in SAF with a falling agent and it is also known as industrial silicon. Silicon is mainly doped with metals like iron, aluminum and calcium. These are classified into different categories of silicon metal named 553, 441, 411, 3303 and many others. Silicon plays a major role in the consumer and industrial sector as it is a base material for many products and these factors will drive the growth of the global silicon metal market over the analysis period.
In 2021, metallurgical grade held the lion’s share in the metallic silica market and is expected to remain the same throughout the analysis period. This is due to the major use of metallurgical grade silicon in the automotive manufacturing and construction industries. Growing investments in these sectors are the key factor driving the growing demand for the global silicon metal market. The continued development of the economies will lead to an increase in the production of automobiles and construction works, which will further increase the demand for silicon metal. All these factors will fuel the growth of the silicon metal market in the coming period.
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The aluminum alloy segment held the majority of the market and accounted for 40% of the global silicon metal market in 2021. Silicon is mainly used in reinforcing and forging agents in the production of aluminum. The automotive industry is a major importer of aluminum alloy and the growing demand for automobiles and the increase in standards and norms regarding vehicle quality are some of the major reasons for the increase in demand for silicon. globally and will propel the growth of the market over the analysis period.
Read the Market Research Report, “Global Silicon Metal Market Segmented by Product Type (Metallurgical Grade, Chemical Grade), by Application (Aluminum Alloy, Semiconductors, Solar Panels, Stainless Steel, Other Segments) and By Region – Forecast and Analysis 2022-2028” by SkyQuest
In 2021, Asia-Pacific accounted for the major market share in the global silicon market and North America is expected to grow at a CAGR of 3.4% during the forecast period. China, which is the largest producer of aluminum alloys and metals, also produces a large amount of silicon and dominates the global silicon metal market. Due to the growing demand for electric vehicles and other automobiles, the use of lightweight, high-strength aluminum alloys is increasing, which will lead to positive growth for the silicon metal market in the region.
Due to the technological birth of the field, no company currently wields significant influence, and the race for dominance has already begun, with companies investing in multiple projects and acquiring a few along the way. arrival in the field. The major players in this market are Anyang Wanhua Metal Material Co. Ltd. (China), Dow Inc. (USA), Elkem ASA (Norway), Ferroglobe PLC (UK), Hoshine Silicon Industry Co. Ltd. (China), Henan ALOY New Material Co. Ltd. (China), Liasa (South Africa), Mississippi Silicon LLC (USA), Shin-Etsu Chemical Co. Ltd. (Japan), United Company RUSAL (Russia), Wacker Chemie AG (Germany).
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data and verifiable revenue projections of the global silicon metal market. The projections presented in the report have been derived using proven research methodologies and assumptions.
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● Drivers- Increase in the use of smartphones and other smart electronic devices
● Withholding- The high production cost of silicon metal.
What does this report bring?
• Market estimate for more than 20 countries
• Global Silicon Metal Market Demand by Region, Sub-Region and Country
• Customization of segments, regions and business profiles
• More than 100 tables, more than 150 figures
• Global, regional and national silicon metal market trends
• Complete mapping of silicon metal industry parameters
• Attractive investment proposition in the global silicon metal industry
• Competitive strategies adopted by leading players in the global silicon metal market
• Drivers, Restraints, Opportunities, Challenges and Impact on Global Silicon Metal Market Sizing
• Market growth rate until 2028
• Regulatory scenario, regional dynamics and global Silicon Metal market overview of key countries in each region
• Detailed market information by region and country
• Analysis of market segmentation trends, opportunities and growth
• Porter’s five forces analysis to know the state of the market
• Price and sales analysis of the silicon metal market
• Parent market analysis
• Comparative analysis of the product portfolio
SkyQuest has segmented the global silicon metal market on the basis of product type, application, and regionnot :
● Global Silicon Metal Market by Product Type (Revenue, USD Billion, 2021-2028)
o Metallurgical quality
o Chemical quality
● Global Silicon Metal Market by Application (Revenue, USD Billion, 2021-2028)
o Aluminum alloy
o Solar panels
o Stainless steel
o Other segment
● Global Silicon Metal Market by Region (Revenue, USD Billion, 2021-2028)
o North America
The rest of Europe
Rest of Asia-Pacific
o Central and South America
Rest of CSA
o Middle East and Africa
Rest of MEA
Key players in the global silicon metal market
• Anyang Wanhua Metal Material Co. Ltd. (China)
• Dow Inc. (United States)
• Elkem ASA (Norway)
• Ferroglobe PLC (UK)
• Hoshine Silicon Industry Co. Ltd. (China)
• Henan ALOY New Material Co. Ltd. (China)
• Liasa (South Africa)
• Mississippi Silicon LLC (United States)
• Shin-Etsu Chemical Co. Ltd. (Japan)
• United Company RUSAL (Russia)
• Wacker Chemie AG (Germany)
• BASF (Germany)
• Ingredion (USA)
• Hydrosol (Germany)
• Nexira (France)
● Sotexpro (France)
SkyQuest Technology is a leading growth consulting firm providing market intelligence, marketing and technology services. It has more than 450 satisfied customers worldwide.
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