ALBANY, NY, August 2, 2021 / PRNewswire / – Silicon compounds were initially commercialized with wide application in the steel industry. Over the past two centuries, applications have grown considerably. The size of the silicon metal market has developed continuously, driven by many applications of metallurgical silicon and also refined silicon. Demand came especially from electronics manufacturing companies. Apart from this, silicon metal has been increasingly used in the manufacture of sealants, adhesives, lubricants, coatings, polishes and cosmetics. The increased demand for vehicle body manufacturing over the past decades has helped propel the market. A significant demand for silicon has arisen from the absorption of silicon minerals in various commercial applications. Increasing production of several aluminum-silicon alloys to meet global demand for vehicle production has steadily enriched the silicon metal market ecosystem.
The extensive applications of Silicon Metal will propel the market at a CAGR of 4.98% from 2019 to 2027 (the forecast period).
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Main conclusions of the silicon metal market research
- Photovoltaic grade polysilicon meets a significant demand for solar energy production: The last decade has made huge strides in solar power. Riding the trend for renewable and low-carbon energy penetration has boosted solar cell production. The demand for high purity polycrystalline silicon has therefore continued to grow to meet the needs of solar photovoltaic cells. The vast majority of solar cells are made from silicon metal. The abundance of the metal and the high yields of crystalline silicon are key factors driving its adoption in the manufacture of photovoltaic solar cells.
- The automotive sector will see a wide use of metallurgical silicon as an alloy: Car manufacturers around the world are increasingly adopting lightweight materials to reduce fuel consumption. Silicon-based aluminum alloys are viewed with great optimism and are replacing steel and heavy metals in vehicle bodies. More importantly, they are able to meet the environmental requirements of the aerospace and automotive industry. All of these provide additional opportunities for players in the silicon metal market.
- Manufacturers strive to reduce production costs to improve results: manufacturers are keen to improve the production process, particularly with regard to optimizing the cost of raw materials. It is a major concern for them. Therefore, they seek areas with large deposits of charcoal and quartz, to reduce the impacts of price volatility.
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Silicon metal market: engines
- Advances in processing technologies have led to the production of many grades of silicon, thus expanding the scope of applications, according to silicon metal market research
- The shift to solar power in various parts of the world, growing to meet low carbon electricity needs, has supported the application of high purity silicon in photovoltaic cells. Global efforts to embrace clean energy have given the trend steady momentum in recent years.
- Advances in the Automotive Industry Broaden the Avenues of the Silicon Metal Market
Silicon metal market: regional growth dynamics
- Asia Pacific held the majority of the global market share in 2018. A few emerging Asian economies as a hub for automotive manufacturing and the rapid pace of industrialization in the region have fueled the demand for silicon metal in these applications
- Analysis of the silicon metal market reveals that India and China emerging as markets with promising avenues. Thailand also shows promising growth avenues.
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Silicon metal market: competitive dynamics
A few large players exercise significant control over the forces of supply and demand in the silicon metal market. Some of them are Wynca Group, MINASLIGAS, RW Silicium GmbH, Simcoa Operations Pty Ltd, RIMA Group, Wacker Chemie AG, The Dow Chemical Company, Ferroglobe, RUSAL and Elkem ASA.
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Silicon Alloys Market – The silicon alloy market has evolved rapidly due to the fact that silicon confers important tribological properties on its alloys, in particular when it is mixed with iron and aluminum. Extensive use of ferrosilicon alloys in various forms such as steel alloys has helped market players achieve substantial and consistent revenue gains. Continued advancements in the refining of silicon alloys have led to a plethora of materials with desired structural properties, thus expanding the scope of competition in the silicon alloy market. The increasing adoption of advanced metal forming technologies will likely keep the landscape increasingly competitive. Some of the well established players in the silicon alloy market are Georgian American Alloys, Jindal Stainless Ltd., SKP Group, Alkem ASA, Tata Steel Ltd. and OM Holdings Ltd.
Silicon Carbide Fiber Market – Increasing demand for silicon carbide fibers and their composites in the defense industry is propelling the silicon carbide fiber market. Among the different types of products, continuous silicon carbide fibers have been in widespread demand around the world, especially in the rapidly growing nuclear industry. The need for better materials to impart complex shapes to structures used in the defense industry offers new perspectives. Over the past few years, processing techniques used in the composites industry have advanced considerably, opening up new opportunities for manufacturers in the silicon carbide fiber market.
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