USD 12.4 billion
Silicon Metal Market Size, Share, Growth Analysis, By Product Type(Metallurgy Grade, Chemical Grade), By Application(Aluminium Alloy, Semiconductors, Solar Panels, Stainless Steel), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15J2056 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|Tables:
64
|Figures:
75
Silicon Metal Market Insights
Silicon Metal Market size was valued at USD 12.4 billion in 2019 and is poised to grow from USD 13.12 billion in 2023 to USD 20.6 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
The global silicon metal market is an important component of the broader metal and industrial products industry. When the silica is purified by thermal reduction of quartz in SAF along with a plummeting agent then silicon metal is formed and it is also known as industrial silicon. Silicon metal, a high-purity element obtained from raw materials such as quartz, plays an important role in various industries such as electronics, aluminum production and chemical applications. Suppliers are dependent on this important factor. Silicon metal is an important component in semiconductors, solar cells, aluminum alloys and various chemical compounds. Its unique properties, such as thermal conductivity and electrical resistance, make it important for a variety of applications. The market ensures the availability of silicon metals to facilitate downstream industry growth and innovation.
Several factors are driving the growth of the global silicon metal market. One key factor is the growing demand for silicon in electronics and solar panels. The proliferation of electronic devices and the global push for renewable energy for high-purity silicon metals are increasingly important. Furthermore, the transition driven by the automotive industry towards electric vehicles using silicon-based components further drives the market growth. Moreover, the expanding middle class in emerging economies has increased the demand for consumer electronics, further driving the silicon metal market.
Despite its strong growth potential, the global silicon metal market faces several restraining factors. Changes in the prices of raw materials such as quartz and carbon can affect production costs. In addition, trade disputes and tariffs can disrupt the supply chain, affecting global markets. Environmental concerns associated with silicon metal production, especially in terms of energy consumption and carbon emissions are also major challenges that the industry needs to address. These factors can drive the market growth confused and uncertain. One of the major challenges facing the global silicon metal market is the need to adopt sustainable and environmentally friendly manufacturing processes. Conventional silicon metals have high energy consumption and emissions, the industry needs to adopt more environmentally responsible approaches Another challenge is silicon metal price fluctuations due to external sources due to supply chain disruptions, geopolitical pressures and global economic fluctuations.
The global silicon metal market presents numerous opportunities for growth and innovation. Increased R&D investments for silicon-based technologies such as advanced semiconductors and solar cells pave the way for wider applications and silicon anode batteries with energy storage hold promise for the market Acceptance principle of products a recycling and circular economies of scale in the silicon metal industry Environ. It provides an opportunity to address concerns and reduce production costs This can lead to a more sustainable and cost-effective supply chain.
US Silicon Metal Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Metallurgy Grade
Fastest Growth
Metallurgy Grade
Growth Rate
5.8% CAGR
Global Silicon Metal Box Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Silicon Metal Market Segmental Analysis
The Global Silicon Metal Market is segmented on the basis of Product Type, Application, and Region. Based on Product Type, the market is segmented into Metallurgy Grade, and Chemical Grade. Based on Application, the market is segmented into Aluminium Alloy, Semiconductors, Solar Panels, Stainless Steel, and Others Segment. Based on region, the global Silicon Metal market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Silicon Metal Market Analysis by Product Type
The silicon metal market could be segmented into metallurgical grade and chemical grade of which the metallurgical grade held the lion’s market share in the year 2021. This is because of metallurgical grade silicon metal’s major use in automobile manufacturing and construction industries. Growing investments in these sectors are the key factor for the soaring demand for the silicon metal market. Continuous development of the economies will lead to more production of automobiles and construction works which will further increase the demand for silicon metal. All these factors will fuel the silicon metal market growth in the coming period.
Silicon Metal Market Analysis by Application
In 2021, the aluminium alloy segment held the major portion of the market and accounted for 40% of the global silicon metal market. The silicon market is segmented into semiconductors, solar panels, stainless steel, and other segments based on their industrial application. Silicon is majorly used in strengthening and forging agents in aluminium production. The automobile industry is a major importer of aluminium alloy and growing automobile demand and increasing standards and norms regarding the quality of the vehicle are some of the major reasons for the swelling demand for silicon globally and will propel the global silicon metal market growth during the analysis period.
Global Silicon Metal Box Market By Product Type, 2021 (%)
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Silicon Metal Market Regional Insights
In 2021, the Asia Pacific accounted for the major market share in the global silicon metal market. China with the largest aluminium alloy and metal producer also produces a large quantity of silicon and dominate the worldwide silicon metal market. Other countries like Japan and India with growing automobile sectors and progressing economic activity also dominate the global silicon metal market. At present, the increasing use of smartphones and other smart electronic gadgets propel the demand for silicon metal as it happens to be the major component in these products. All these factors will contribute to the growth of the global silicon metal market during the analysis period.
North America is anticipated to grow at a CAGR of more than 3% during the forecast period in the global silicon metal market. Due to increasing demand for electric vehicles and other automobiles, the use of lightweight high strength aluminium alloy is increasing in the reason and this will show positive growth for the silicon metal market in the region.
Global Silicon Metal Box Market By Geography, 2022 - 2028
- Largest
- Fastest
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Silicon Metal Market Dynamics
Silicon Metal Market Driver
Increasing demand for high-strength aluminium alloy for vehicles is a major driving factor.
- While growing demand for fuel-efficient automobiles and reducing their carbon footprint is the major driver for the swelling use of silicon metal in aluminium forging and will tend to remain the same for a long time.
- Increasing smartphones and other smart electronic devices use Silicon semiconductors as a major component in it and this is the most demanding semiconductor substance globally. Growing disposable income in developing nations is increasing the demand for more advanced electronic products which also propels the demand for silicon semiconductors. These all factors will fuel the silicon metal market growth during the analysis period.
Silicon Metal Market Restraint
The increasing cost of production is a major restriction for the market.
- Major factor restraining the market is the high cost of production for silicon metal. The SAF process consumes a lot of energy which in turn increases the cost of production of the silicon. Silicon production is a very labour-intensive process and also consumes a lot of energy for silicon purification.
- Another factor that restrains the growth of the silicon metal market is control of the supply chain of the silicon globally with some limited nation and disruption in it will inflate the price of the commodity and slow down the market growth.
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Silicon Metal Market Competitive Landscape
The global silicon metal market is relatively fragmented, with a high level of competition. Few large players, like ABB Ltd, Honeywell, and Kiva Systems, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Silicon Metal Market Top Player’s Company Profiles
- Elkem AS
- Ferroglobe PLC
- Dow Inc.
- Wacker Chemie AG
- Rusal
- The Quartz Corp.
- Silicon Metal Industries (SMI)
- Globe Specialty Metals, Inc.
- Mississippi Silicon LLC
- KCC Corporation
- Yunnan Yongchang Silicon Industry Co., Ltd.
- Zhejiang Kaihua Yuantong Silicon Material Co., Ltd.
- Minasligas Comércio de Ferro Ligas Ltda.
- FerroAtlántica Group
- VestaSi
- Simcoa Operations Pty Ltd
- RW silicium GmbH
- Westbrook Resources Ltd
- Pengding Holdings Ltd
- Shin-Etsu Chemical Co., Ltd.
Silicon Metal Market Recent Developments
- In May 2022, Dow Inc. an us-based company launched its Silastic Ms-5002 silicon that is also moldable. It’s a special liquid silicon rubber that features various low moulds for faster recycling and high-grade vision in ADB light guides. This also produces a nonyellow max-led light output.
- In February 2022, United Company RUSAL a Russian company that is one of the prominent aluminium producers globally has developed the 5xxx series aluminium alloy for high processed fencing panel, spotlight, and an electrolytic capacitor.
Silicon Metal Key Market Trends
- The key trends that have been seen in recent years are regarding the automotive industry. Increasing domestic vehicle demand globally is increasing and this will go on for some time. And this swelling up in demand is creating a demand for aluminium metal demand which is derived from silicon metal. This cascading demand tends to increase the global silicon metal market growth in the coming years.
- The growing trend for clean energy is propelling the demand for semiconductors and electric panel which uses silicon as a base material and this also tends to push the growth of the global silicon metal market during the analysis period.
Silicon Metal Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the key trends that have been seen in the global silicon metal market in recent years are regarding the automotive industry. The silicon metal market could be segmented into metallurgical grade and chemical grade of which the metallurgical grade held the lion’s market share in the year 2021. This is because of metallurgical grade silicon metal’s major use in automobile manufacturing and construction industries.
In 2021, the aluminium alloy segment held the major portion of the market and accounted for 40% of the global silicon metal market. The Asia Pacific accounted for the major market share in the silicon market globally in the year 2021. China with the largest aluminium alloy and metal producer also produces a large quantity of silicon and dominate the worldwide silicon metal market. While growing demand for fuel-efficient automobiles and reducing their carbon footprint is the major driver for the swelling use of silicon metal in aluminium forging and will tend to remain the same for a long time in the global silicon metal market.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 12.4 billion |
| Market size value in 2031 | USD 20.6 billion |
| Growth Rate | 5.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Silicon Metal Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Silicon Metal Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Silicon Metal Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Silicon Metal Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Silicon Metal Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Silicon Metal Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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