Report Code: A09262 | Pages: 235 | ||
Tables: 145 | Charts: 58 |
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The global silicon metal market size was valued at $6.3 billion in 2019, and is projected to reach $8.9 billion by 2027, growing at a CAGR of 5.5% from 2020 to 2027.
Silicon metal is purified form of silica that is produced by the thermal reduction of quartz in Submerged Arc Furnace (SAF), along with a reducing agent. It is also known as metal silicon or industrial silicon. Its chemical composition mainly consists of iron, aluminum, and calcium. According to the content of Fe, Al, and Ca in metallic silicon, it can be divided into different grades such as 553, 441, 411, 421, 3303, and so on.
Silicon metal is the base material for so many products; hence, it has an important role in industrial and consumer sectors. Presently, the use of silicon metal for producing aluminum alloys holds the largest share in the total silicon metal production. Aluminum alloys are used in producing automotive components and aerospace products. Silicon improves the strength, castability, and brittleness of the alloy; thereby, enhancing the alloy’s use for an increasing range of high-performance parts. The demand for silicon in the transport sector has grown significantly as a result of increase in use of aluminum-based parts as replacements for heavier steel or iron parts in automotive applications. Further, increasing versatility of silicones, a key application of silicon metal, also drives the demand for silicon metal. Silicon metal is used as the base material for silicone that has a diversified range of applications such as sealants, lubricants, gaskets & seals, food additives, and cosmetics. Polysilicon, a product of silicon metal, is the base material for solar cells and semiconductor wafers.
Presently, the high cost of production of silicon metal acts as a limiting factor in the silicon metal market growth. A huge portion of working capital is consumed by the energy requirements of the SAF. In addition, the cost of production is high due to the labor costs and transportation. Producing silicon metal is extremely energy intensive due to the necessary purification process. Production of silicon metal requires feedstock such as coal, quartz, natural gas/oil, and electrodes. Hence, the entry of new players in the silicon metal value chain is low.
However, silicon metal plays an important role in the global manufacturing chain and increasing prices of silicon metal are expected to have little effect over the silicon metal market growth during the forecast period. Rise in use of silicon metal in solar panel production as well as the use of silicon in the production of Silicon-lithium-ion batteries as an anode has the potential to offer fresh opportunities for the growth of the silicon metal market during the forecast period.
The global silicon market is segmented on the basis of product type and application. Based on product type, the market is divided into metallurgical and chemical. The applications of silicon metal include aluminum alloys, silicone, semiconductors, and others.
Some of the major players profiled in the report include Anyang Wanhua Metal Material Co. Ltd., Dow Inc., Elkem ASA, Ferroglobe PLC, Henan ALOY New Material Co. Ltd., Hoshine Silicon Industry Co. Ltd., Liasa, Mississippi Silicon LLC, Shin-Etsu Chemical Co. Ltd., and United Company RUSAL.
Asia-Pacific accounted for the highest market share in 2019 in the global silicon metal market. In Asia-Pacific, China is the leader in the smelting industry and uses silicon metal in its steel & aluminum alloy production. Further, the presence of well-established automotive and semiconductor industry in India, Japan, and China is one of the underlying factors responsible for the highest market share.
On the basis of the product type, the global silicon metal market is divided into metallurgical and chemical grade silicon metal. The metallurgical grade of silicon metal is majorly used in the automotive and construction industries.
On the basis of application, the aluminum alloy segment held the largest silicon metal market share in 2019. Silicon metal is added to aluminum to alter the structural characteristics of aluminum. Alloy made from silicon and aluminum is called as Silumin and is used in the automotive industry to produce light-weight vehicle components, which were traditionally made from steel or cast iron.
COVID-19 Scenario Analysis:
Key Benefits For Stakeholders
Silicon Metal Market Report Highlights
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By Region |
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Key Market Players | Mississippi Silicon LLC, Henan ALOY New Material Co. Ltd., Hoshine Silicon Industry Co. Ltd., Liasa, Ferroglobe PLC, Anyang Wanhua Metal Material Co. Ltd., Dow Inc., United Company RUSAL, Shin-Etsu Chemical Co. Ltd., Elkem ASA |
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According to the opinions of various CXOs of leading companies, the silicon metal market is anticipated to grow at an exponential rate during the forecast period. Silicon metal is a critical material in the silicone and steel & aluminum industry as well as other industries such as electronics, solar, battery materials, and refractory materials. Currently, there are no substitutes for silicon metal in various applications, which makes it important in the manufacturing sector. Silicone-based products are increasing its application versatility, which is conducive for the growth of the overall silicon metal market. Silicone-based products have penetrated into various markets due to its availability in numerous formats with increased durability and electrical resistance.
The global silicon metal market is segmented on the basis of product type and applications.
A. Factors such as growing demand for aluminum alloys, silicon wafers, solar panels, and silicone products from various end-use industries such as automotive and electronics are major factors boosting the silicon metal market growth
A. The Global Silicon Metal Market is forecasted to reach $8.9 billion by 2027
A. Anyang Wanhua Metal Material Co. Ltd., Dow Inc., Elkem ASA, Ferroglobe PLC, Henan ALOY New Material Co. Ltd., Hoshine Silicon Industry Co. Ltd., Liasa, Mississippi Silicon LLC, Shin-Etsu Chemical Co. Ltd., and United Company RUSAL are the major players in the silicon metal industry
A. The aluminum alloy industry and the semiconductor industry are the two major end use industries projected to increase the demand for silicon metal market
A. On the basis of application, the aluminum alloy segment held the largest market share
A. Growing demand for aluminum silicon (Al-Si) alloys from industries such as automotive, construction, aerospace, and marine is the major driver of silicon metal market
A. The use of silicon metal market in the production of silicon solar cells, stainless steel, refractory materials, and battery materials are expected to drive the adoption of silicon metal during the forecast period.
A. The COVID-19 pandemic has reduced automotive sales and delayed construction activities, thus, reducing the demand for silicon based aluminum alloys
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