The global silicon market is dominated by a handful of multinational companies featuring a consolidated vendor landscape, says Transparency Market Research in a new report. This has forced companies to introduce innovative products and engage in supply chain integration to sustain this challenging vendor landscape. A case in point is Dow Corning Corporation. The company has been engaged in mergers and acquisitions to establish an integrated and cost-effective supply chain. Consequently, the company has acquired the silicon manufacturing facilities of several companies and this has not only provided efficiency and stability in its business operations but also helped integrate these operations.
Another excellent example is Wynca Group. The strong technical support network of the company and research and development activities through Organic Research Institute have been instrumental in developing newer applications of silicon in the downstream part.
Rising at a CAGR of 5.2% between 2016 and 2024, the global silicon metal market is expected to be worth US$3.4 mn by the end of 2024 increasing from US$2.2 bn in 2015. The volume demand for silicon metal is poised to rise at a CAGR of 4.3% between 2016 and 2024.
Asia Pacific to Hold Significant position in Global Market
The application segments of the silicon metal market include silicones and silanes, aluminum alloys, solar panels, semiconductors, and others. Aluminum alloys account for the highest consumption of silicon metal with segment holding a share of more than 40% in 2015 in terms of volume. This is because silicon improves the thermal conductivity, castability, machinability, and corrosion resistance of aluminum alloys.
Silicones and silanes also account for significant consumption of silicon metals. This is due to the application of silicones in the manufacture of a number of chemicals and materials that are used in building and construction, personal care products, plastics, textiles, and electronics.
However, semiconductors is expected to display the fastest growth between 2016 and 2024. Low processing and extraction costs, easy doping, reduced temperature susceptibility, and low current leakage of silicon makes it the most suitable for the production of semiconductors.
The regional segments into which the global market for silicon metal is divided are North America, Europe, Asia Pacific, and the Middle East and Africa. Of these, Asia Pacific led with a share of more than 40% in the overall market in 2015 in terms of volume. The region is also expected to be the fastest growing regional segment for silicon metal. The region is expected to display augmented demand for silicon metal owing to easy availability of raw materials, optimistic economic growth, and cheap labor and power costs. In this region, government policies in place that are directed towards increasing production of sustainable energy using solar panels are also expected to surge the demand for silicon metal. The rapid growth of the building and construction sector in countries such as China and India is also expected to translate into demand for silicon metal thereby further supporting the growth of silicon metal market in Asia Pacific.
North America is expected to display moderate growth in the near future due to moderate demand for silicon metal in aluminum alloys.
Government Directives for Utilizing Solar Energy Benefits Market
In recent years, government regulations for the development of renewable energy sources has been instrumental in the development of solar industry. This, in turn, has translated into the soaring demand for installation of solar panels across a host of industries. Solar panels are an important application of silicon metals and increasing initiatives for tapping solar energy translates into growth of the silicon metal market.
The review presented is based on the findings of Transparency Market Research report, titled “Silicon Metal Market (Application - Aluminum Alloys, Silicones/Silanes, Semiconductors, Solar Panels) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global silicon metal market is segmented as follows:
Silicon Metal Market – Application Analysis
- Aluminum Alloys
- Solar Panels
- Others (Including Stainless Steel, Laboratory Reagents, etc.)
Silicon Metal Market – Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC