Metal market

Silicon Metal Market to Reach USD 10.27 Billion, Globally, by 2029 at a CAGR of 5.00%: Data Bridge Market Research

Market definition

Metallic silicon is essentially a refined version of silica by thermally reducing quartz in a submerged arc furnace (SAF) with a reducing chemical. Metallic silicon and industrial silicon are other names. Calcium, iron and aluminum make up the majority of its chemical composition. Metallic silicon can be classified into several classes including 553, 441, 411, 421, 3303, etc., based on its Fe, Al, and Ca content.

The Global silicon metal The market was valued at USD 6.95 Billion in 2021 and is projected to reach USD 10.27 Billion by 2029, registering a CAGR of 5.00% during the forecast period 2022-2029. In addition to market insights such as market value, growth rate, market segments, geographical coverage, market players and market scenario, the market report curated by the Data Bridge Market team Research also includes in-depth expert analysis, import/export analysis. , price analysis, production consumption analysis and climate chain scenario.

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Market analysis and size

According to the OICA, automobile production increased by 3% compared to 2020 to reach 80,145,988 units in 2021. Making cars more fuel efficient and reducing greenhouse gas emissions are top priorities for car manufacturers. Aluminum-silicon alloy is the best choice to meet these criteria due to its corrosion resistance, low wear rate and minimal thermal expansion. As a result, the demand for aluminum-silicon alloys will increase with the manufacture of automobiles, which would further increase the demand for silicon metals.

Silicon metal market dynamics

This section deals with understanding the market drivers, benefits, opportunities, restraints, and challenges. All this is discussed in detail as below:

  • High usage of Silicon Metal

Metallic silicon serves as the basis for many items; therefore, the industrial and consumer sectors are highly dependent on it. The majority of the silicon metal produced today is destined for the manufacture of aluminum alloys, which represents the major part of the total production. Automotive and aeronautical products are made from aluminum alloys. The addition of silicon increases the strength, castability and brittleness of the alloy, allowing it to be used for a wider variety of high performance components. The use of aluminum-based materials as substitutes for heavier steel or iron parts in automotive applications has increased, leading to a surge in demand for silicon in the transportation industry. As a result, the market is expected to witness accelerated growth over the forecast period.

Competitive Landscape and Silicon Metal Market Share Analysis

Silicon Metal market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, research and development investment, new market initiatives, global presence, locations and production facilities, production capacities, company strengths and weaknesses, product launch, product breadth and breadth, application dominance. The data points provided above relate only to the companies’ focus on the silicon metal market.

Some of the major players operating in the silicon metal market are

  • Infineon Technologies AG (Germany)
  • Cree, Inc. (USA)
  • ROHM Co., Ltd. (Japan)
  • Microsemi (USA)
  • STMelectronics (Switzerland)
  • Fuji Electric Co., Ltd. (Japan)
  • Semiconductor Component Industries, LLC (USA)
  • General Electric (USA)
  • Toshiba Corporation (Japan)
  • Renesas Electronics Corporation (Japan)
  • Microchip Technology Inc., (USA)
  • Grindwell Norton Limited (India)
  • Dow (United States)
  • CUMI (India)
  • Entegris (USA)

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Impact of COVID-19 on the Silicon Metal Market

The coronavirus outbreak has had a marginal impact on the global silicon metal market. The unexpected shutdown of major economies has negatively affected economic growth and changed consumer buying habits. The pandemic has further caused a shortage of labor in the mining sector, which in turn has caused a shortage of quartz, the main raw material used to produce silicon metal. Global manufacturing, which included the automotive and infrastructure markets, had to be shut down for longer as a cost-containment measure, leading to lower demand for metals and alloys. Similar to the manufacturing industry, the lack of manpower and resources has led to delays in the execution of construction activities around the world. Many construction projects have been suspended or delayed for six months. These changes have detracted from the need for aluminum alloy structural supports. China, the epicenter of the pandemic, has had to shut down electronics suppliers, outsource production facilities and focus on life-saving goods. China is the largest producer and consumer of silicon metal in the Asia-Pacific region. As a result, the COVID-19 disruption has significantly reduced silicon metal production. The COVID-19 outbreak has impacted the supply chain and the electronics industry, resulting in a shortage of raw materials. Similar demand and supply issues have been faced by silicon, an important application area for silicon metal, following the pandemic.

Recent development

  • In April 2020, Elkem ASA completed the previously announced acquisition of Polysil, a renowned Chinese silicone elastomer materials and resins company. In addition to silicone products for electronics and medical, Polysil is a world leader in silicones for childcare and food applications. Polysil’s and Elkem’s complementary product and market positions provide a solid platform for further specialization and expansion in China and internationally.
  • In December 2021, the Research Council of Norway awarded Elkem NOK 16 billion to develop a new silicon manufacturing strategy that completely eliminates all direct CO2 emissions. This could be a game-changer for the global silicon industry. The company could offer the technology to other companies, making it possible to produce silicon on a global scale with the least climate and environmental impact.

Scope of the Global Silicon Metal Market

The silicon metal market is segmented on the basis of product type and application. The growth among these segments will help you analyze weak growth segments in the industries and provide users with valuable market insight and market insights to help them make strategic decisions to identify major applications of the market.

type of product

  • Metallurgical grade
  • Chemical quality

Application

  • Aluminum alloys
  • Semiconductors
  • Solar panels
  • Stainless steel
  • Other Apps

Silicon Metal Market Regional Analysis/Overviews

The Silicon Metal market is analyzed and market size insights and trends are provided by country, product type and application as listed above.

Countries covered in the Silicon Metal market report are USA, Canada & Mexico North America, Germany, France, UK, Netherlands, Switzerland, Belgium , Russia, Italy, Spain, Turkey, the rest of Europe in Europe, China, Japan, India. , South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Saudi Arabia, United Arab Emirates, Israel, Egypt, South Africa South, Rest of Middle East and Africa (MEA) as part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of ‘South America.

Asia-Pacific dominates the market in terms of market share and revenue, and this dominance is expected to continue during the forecast period 2022-2029. The growth of the market in this region can be attributed to the growing demand for silicon from various industries.

North America, on the other hand, is expected to witness profitable growth over the forecast period 2022-2029, driven by increased investment in the production of mobile phones, laptops and other electrical appliances. the region.

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