Silicon Metal Market: Snapshot
The oligopolistic market for silicon metal might have to battle quite a few challenges in the coming years, including high entry barriers, high production cost, and market volatility, but it receives strong support in the form of government regulations and policies. Backed by this, there has been large-scale deployment of solar panels across various developed and developing countries, furthering the demand for silicon metal.
Registering a 5.2% CAGR from 2016 to 2024, the opportunity in the global silicon metals is projected to be worth US$3.4 bn by the end of the forecast period. Transparency Market Research predicts that the increasing economic growth of several emerging economies is sure to bring the silicon metal market steady demand over the years.
Favorable Properties of Silicon Metal Spurring Demand from Various End Uses
Silicon metals find application in silicones and silanes, solar panels, aluminum alloys, laboratory reagents, and stainless steel, among others. The use of silicon metal in aluminum alloys is the highest and this segment of the overall silicon metal market held a share of over 40% in 2015 in terms of volume. Introducing silicon in aluminum alloys improves the latter’s properties of thermal conductivity, machinability, castability, and corrosion resistance. The demand for silicon metals to be used in silanes/silicones has also been significant over the years. This can be attributed to the application of silicones in the manufacturing of various chemicals and materials used in personal care products, building and construction, electronics, plastics, and textiles.
The use of silicon metal in semiconductors is projected to surge at the most rapid pace from 2016 to 2024. The favorable properties of silicon, such as low processing and extraction costs, reduced temperature susceptibility, easy doping, and low current leakage, make it the most preferred metal for the production of semiconductors.
Rapid Growth of Building and Construction Sector Boosts Silicon Metal Demand in APAC
The global market for silicon metal comprises North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific dominates the global market by volume and in 2015, the region held a share of over 40%. It will also be the fastest growing regional market for silicon metal, TMR predicts. The demand for silicon metal in the APAC region is anticipated to augment in the coming years owing to optimistic economic growth, the easy availability of raw materials, and cheap labor and power costs. In addition, there has been a surge in government policies directed at increasing the production of domestic energy by using solar panels. This factor also has the potential to spur the demand for silicon metal in Asia Pacific in the coming years. The rapid growth in the building and construction sector in countries such as India and China is also likely to translate into a high demand for silicon metal, further supporting the expansion of the APAC silicon metal market.
North America is anticipated to witness moderate growth in the coming years owing to the medium demand for silicon metal in aluminum alloys. Latin America, on the other hand, is projected to experience considerable growth over the next eight years thanks to the increasing demand for silicone-based defoamers in the food and beverages industry.
Silicon metal is derived from quartz (silicon dioxide). It is purified elemental silicon alloyed with significant quantities of other elements such as aluminum and calcium. Key applications of silicon metal include aluminum alloys, silicones/silanes, semiconductors, solar panels, and others (laboratory reagents, etc.). Growth in the building & construction industry in Asia Pacific is projected to boost the consumption of silicones. This, in turn, is anticipated to drive the demand for silicon metal during the forecast period. High production cost of silicon metal in certain regions is estimated to hamper the global silicon metal market during the forecast period. However, rising demand for solar panels and in turn silicon metal in North America, Europe, and emerging economies of Asia Pacific is projected to offer immense opportunities for manufacturers during the forecast period.
This report analyzes and forecasts the market for silicon metal at the global and regional level. The market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2016 to 2024, considering 2015 as the base year. The study includes drivers and restraints of the global silicon metal market. It also covers impact of these drivers and restraints on demand for silicon metal during the forecast period. The report also highlights opportunities in the silicon metal market at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global silicon metal market. Porter’s Five Forces model for the silicon metal market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global silicon metal market by segmenting it in terms of application such as aluminum alloys, silicones/silanes, semiconductors, solar panels, and others. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for silicon metal in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for applications of silicon metal in all the regions.
The report provides the estimated market size of silicon metal for 2016 and forecast for the next eight years. The global market size of silicon metal has been provided in terms of volume and revenue. Market volume has been defined in kilo tons, while market revenue is in US$ Mn. Market numbers have been estimated based on key applications of silicon metal. Market size and forecast for products and applications have been provided in terms of global and regional markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key player’s product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, GUNTHER Portfolio, REN21, Forbes, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva, Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc. This help validate and strengthen secondary research findings. This also helps develop the analysis team’s expertise and market understanding.
The report comprises profiles of major companies operating in the global silicon metal market. Key players profiled in the report include China National Bluestar (Group) Co, Ltd., Dow Corning Corporation, MINASLIGAS, RW silicium GmbH, Simcoa Operations Pty Ltd, Wacker Chemie AG, Ferroglobe PLC, and Yunnan Yongchang Silicon Industry Co., Ltd. The companies have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The report segments the global silicon metal market 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