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Silicon Metal Market Size is projected to reach USD 20.60 Million by 2030, growing at a CAGR of 5.56%: Straits Research

·9-min read
Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research
Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research

The global silicon metal market size was valued at USD 12.4 million in 2021. It is expected to reach USD 20.60 million by 2030, growing at a CAGR of 5.8% during the forecast period (2022–2030). Asia-Pacific is the most dominant global silicon metal market, growing at a CAGR of 6.7% during the forecast period.

New York, United States, Aug. 16, 2022 (GLOBE NEWSWIRE) -- An electric furnace is used to smelt quartz and coke together to produce Silicon Metal. Silicon's composition has risen from 98 percent to 99.99 percent throughout the past few years. Iron, aluminum, and calcium are common silicon impurities. Silicon metal is used to produce silicones, aluminum alloys, and semiconductors, among other products. The different grades of silicon metals available for purchase include those for metallurgy, chemistry, electronics, polysilicon, solar energy, and high purity. When quartz rock or sand is used in refining, various grades of silicon metal are produced.

First, a carbothermic reduction of silica in an arc furnace is required to produce metallurgical silicon. After that, the silicon is processed through hydrometallurgy to be used in the chemical industry. Chemical-grade silicon metal is used in the production of silicones and silanes. 99.99 percent pure metallurgical silicon is required to produce steel and aluminum alloys. The global market for silicon metal is driven by several factors, including an increase in demand for aluminum alloys in the automotive industry, the expanding application spectrum of silicones, the markets for energy storage, and the global chemical industry.


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Growing use of Aluminium-Silicon Alloys and Various Silicon Metal Applications Drives the Global Market

Aluminum is alloyed with other metals for industrial applications to enhance its natural benefits. Aluminum is versatile. Aluminum combined with silicon forms an alloy used to make most cast materials. These alloys are used in the automotive and aerospace industries due to their castability, mechanical properties, corrosion resistance, and wear resistance. They are also wear and corrosion-resistant. Copper and magnesium can improve the alloy's mechanical properties and heat treatment response. Al-Si alloy has excellent castability, weldability, fluidity, a low thermal expansion coefficient, high specific strength, and reasonable wear and corrosion resistance. Aluminum silicide-magnesium alloys are used in shipbuilding and offshore platform components. As a result, demand for aluminum and silicon alloys is expected to rise.

Polysilicon, a silicon metal by-product, is used to make silicon wafers. Silicon wafers make integrated circuits, the backbone of modern electronics. Consumer electronics, industrial, and military electronics are included. As electric vehicles become more popular, automakers must develop their designs. This trend is expected to increase demand for automotive electronics, creating new opportunities for semiconductor-grade silicon metal.

Innovating Current Technology to Lower Production Costs Creating Lucrative Opportunities

Conventional refining methods require significant electrical and thermal energy. These methods are very energy-intensive. The Siemens method requires temperatures above 1,000°C and 200 kWh of electricity to produce 1 kg of silicon. Due to energy requirements, high-purity silicon refining is expensive. Therefore, we need cheaper, less energy-intensive methods for producing silicon. It avoids the standard Siemens process, which has corrosive trichlorosilane, high energy requirements, and high costs. This process removes impurities from metallurgical-grade silicon, resulting in 99.9999% pure silicon, and requires 20 kWh to produce one-kilogram ultrapure silicon, a 90% reduction from the Siemens method. Every kilogram of silicon saved saves USD 10 in energy costs. This invention could be used to produce solar-grade silicon metal.


Report Scope

Report Metric

Details

Market Size

USD 20.60 Million by 2030

CAGR

5.8% (2020-2030)

Historical Data

2019-2020

Base Year

2021

Forecast Period

2022-2030

Forecast Units

Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product Form, Application and Region

Geographies Covered

North America, Europe, Asia-Pacific, LAME and Rest of the World

Key Companies Profiled/Vendors

Anyang Wanhua Metal Material Co. Ltd., Dow Inc., Elkem ASA, Ferroglobe PLC, Henan ALOY New Material Co. Ltd., Hoshino Silicon Industry Co. Ltd., Lisa, Mississippi Silicon LLC, Shin-Etsu Chemical Co. Ltd., United Company RUSAL.

Key Market Opportunities

Rising Efforts to Lower the Cost of Production to Spur Market Opportunities

Key Market Drivers

Increasing Demand for Aluminum-Silicon Alloys (Al-Si alloys) to Impede the Market Growth
Number of Applications for Silicon Metal to Drive Market

Buy Now Full Report https://straitsresearch.com/buy-now/silicon-metal-market


Regional Analysis

Asia-Pacific is the most dominant global silicon metal market, growing at a CAGR of 6.7% during the forecast period. The silicon metal market in the Asia-Pacific region is fueled by the industrial expansion of countries like India and China. Aluminum alloys are expected to play a significant role in maintaining silicon demand during the forecast period in newer packaging applications, automobiles, and electronics. Asian countries like Japan, Taiwan, and India have seen a surge in infrastructure development, which has resulted in increased sales of communication infrastructure, network hardware, and medical equipment. The demand for silicon metal increases for silicon-based materials like silicones and silicon wafers. The production of aluminum-silicon alloys is expected to rise during the forecast period due to increased Asian automobile consumption. Therefore, growth opportunities in the silicon metal market in these regions are due to the increase in automotive such as transport and passengers.

Europe is the second contributor to the market and is estimated to reach around USD 2330.68 million at a CAGR of 4.3% during the forecast period. The increase in regional automotive production is the primary driver of this region's demand for silicon metal. The European automotive industry is well-established and home to global car makers that produce vehicles for both the middle market and the high-end luxury segment. Toyota, Volkswagen, BMW, Audi, and Fiat are significant players in the automotive industry. There is expected to be a rise in demand for aluminum alloys in the region as a direct result of the rising level of manufacturing activity in the automotive, building, and aerospace industries.


Key Highlights

  • The global silicon metal market was valued at USD 12.4 million in 2021. It is expected to reach USD 20.60 million by 2030, growing at a CAGR of 5.8% during the forecast period (2022–2030).

  • Based on product type, the global silicon metal market has been categorized into metallurgical and chemical. The metallurgical segment is the highest contributor to the market, growing at a CAGR of 6.2% during the forecast period.

  • Based on the applications, the global silicon metal market has been categorized into aluminum alloys, silicone, and semiconductors. The aluminum alloys segment is the highest contributor to the market, growing at a CAGR of 4.3% during the forecast period.

  • Asia-Pacific is the most dominant global silicon metal market, growing at a CAGR of 6.7% during the forecast period.


Get a Free Sample Copy of This Report https://straitsresearch.com/report/silicon-metal-market/request-sample


Competitive Analysis

  • Anyang Wanhua Metal Material Co. Ltd.

  • Dow Inc.,

  • Elkem ASA,

  • Ferroglobe PLC

  • Henan ALOY New Material Co. Ltd.

  • Hoshino Silicon Industry Co. Ltd.

  • Lisa,

  • Mississippi Silicon LLC

  • Shin-Etsu Chemical Co. Ltd., and United Company RUSAL.


Global Silicon Metal Market: Segmentation

By Product Form

  • Metallurgical

  • Chemical

By Application

  • Aluminium Alloys

  • Silicone

  • Semiconductors

By Region

  • North America

  • Europe

  • Asia-Pacific

  • LAMEA


TABLE OF CONTENT

  1. Introduction

    1. Market Definition

    2. Market Scope

  2. Research Methodology

    1. Primary Research

    2. Research Methodology

    3. Assumptions & Exclusions

    4. Secondary Data Sources

  3. Market Overview

    1. Report Segmentation & Scope

    2. Value Chain Analysis: Silicon Metal Market

    3. Key Market Trends

      1. Drivers

      2. Restraints

      3. Opportunities

    4. Porter’s Five Forces Analysis

      1. Bargaining Power of Suppliers

      2. Bargaining Power of Buyers

      3. Threat of Substitution

      4. Threat of New Entrants

      5. Competitive Rivalry

    5. Market Share Analysis

  4. Product Type Overview

    1. Introduction

      1. Market Size & Forecast

    2. Metallurgical

      1. Market Size & Forecast

    3. Chemical

      1. Market Size & Forecast

  5. Application Overview

    1. Introduction

      1. Market Size & Forecast

    2. Aluminium Alloys

      1. Market Size & Forecast

    3. Silicone

      1. Market Size & Forecast

  6. Regional Overview

    1. Introduction

      1. Market Size & Forecast

    2. America

      1. North America

      2. U.S.

        1. By Product Type

        2. By Application

      3. Canada

        1. By Product Type

        2. By Application

      4. Mexico

        1. By Product Type

        2. By Application

      5. Latin America

        1. By Product Type

        2. By Application

    3. Europe

      1. Market Size & Forecast

      2. Germany

        1. By Product Type

        2. By Application

      3. France

        1. By Product Type

        2. By Application

      4. U.K.

        1. By Product Type

        2. By Application

      5. Italy

        1. By Product Type

        2. By Application

      6. Spain

        1. By Product Type

        2. By Application

      7. Rest of Europe

        1. By Product Type

        2. By Application

    4. Asia Pacific

      1. Market Size & Forecast

      2. Japan

        1. By Product Type

        2. By Application

      3. China

        1. By Product Type

        2. By Application

      4. Australia

        1. By Product Type

        2. By Application

      5. India

        1. By Product Type

        2. By Application

      6. South Korea

        1. By Product Type

        2. By Application

      7. Rest of Asia-Pacific

        1. By Product Type

        2. By Application

    5. Middle East & Africa

      1. Market Size & Forecast

      2. Saudi Arabia

        1. By Product Type

        2. By Application

      3. South Africa

        1. By Product Type

        2. By Application

      4. Kuwait

        1. By Product Type

        2. By Application

      5. Rest of Middle East & Africa

        1. By Product Type

        2. By Application

  7. Company Profile

    1. Anyang Wanhua Metal Material Co Ltd

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    2. Dow Inc

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    3. Elkem ASA

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

  8. Conclusion & Recommendation

  9. Acronyms & Abbreviations


Table of Content and Figure https://straitsresearch.com/report/silicon-metal-market/toc


Market News

  • May 2022, Dow spotlights at Display Week 2022 new silicone solutions that promote sustainable innovation in flexible and foldable displays.

  • May 2022, Dow, LOVE, YCJ, and P&G joined hands in organizing the "Design for Circularity" Art & Design Competition.


News Media

Silicon Photonics – The next Generation Integration

Metal Recycling Market to Earn a Remarkable Market Share During Forecast Period


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