Global Silicon Metal Market Report 2022: Sector to Reach $8 Billion by 2028 at a CAGR of 5%
Sunday, April 16, 2023
DUBLIN, April 13, 2023 /PRNewswire/ -- The "Global Silicon Metal Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Application, and Major Regions" report has been added to ResearchAndMarkets.com's offering.
https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
According to this analysis, the Global Silicon Metal Market is expected to record a positive CAGR of ~5% during the forecast period (2022-2028) and is expected to reach nearly US$ 8 billion by 2028, owing to increasing demand for silicon metal in various industries such as automobiles, solar, battery materials, refractory materials, and others.
Growing demand for silicon in the automotive industry along with increasing penetration of electric vehicles globally are anticipated to propel the growth of the global silicon metal market during the forecast period.
The increased use of silicon or aluminum-silicon alloys in the production of automobiles due to their properties such as corrosion resistance, low thermal expansion, low wear rates, and others is likely to propel the growth of the global silicon metal market.
The global silicon metal market faces challenges due to the shortage of metals like silicon.
The supply shortage of silicon metals due to their high usage in the production of semiconductor materials along with the high prices of semiconductors is also expected to restrict the growth of the market.
The COVID-19 pandemic negatively impacted the silicon metal market due to disruption in the supply chain, shortage of workers for the mining industry, shortage of raw materials, and others. In addition, the abrupt shutdown of operations has impacted economic growth, and thus, changed the pattern of consumer spending patterns.
Scope of the Report
The silicon metal market is segmented by product type and application. In addition, the report also covers market size and forecasts for the four region's silicon metal market. The revenue used to size and forecast the market for each segment is US$ billion.
By Product Type
-- Metallurgy Grade
-- Chemical Grade
By Application
-- Aluminium Alloys
-- Silicone
-- Semiconductors
-- Others
By Geography
-- North America (USA, Canada, Mexico)
-- Europe (Germany, UK, France, Sweden, Italy)
-- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
-- LAMEA (Latin America, Middle East, Africa)
Key Players
-- Ferroglobe
-- Dow
-- Elkem ASA
-- RIMA INDUSTRIAL
-- RusAL
-- LIASA
-- Hoshine Silicon Industry Co, Ltd
-- Zhejiang kaihua yuantong silicon industry co LTD
-- Anyang Wanhua Metal Material Co Ltd
-- Shin-Etsu Chemical Co, Ltd
Key Trends by Market Segment
By Product Type: The metallurgy grade segment held the largest share of the global silicon metal market by product type in 2021, owing to the growing demand for high-purity metals for the production of steel and cast iron.
The expansion of the solar and semiconductor industry along with the increase in innovative technologies to lower cost production and surging demand for renewable sources of energy globally is expected to fuel the demand for the segment in the global silicon metal market.
By Application: The aluminum alloys segment accounted for the largest share of the global silicon metal market in 2021, attributed to the growing demand for silicon metals for the production of automotive aluminum alloy.
The increase in government initiatives and favorable policies for the electric vehicle and rising demand for aluminum alloy to produce lightweight vehicles, is anticipated to aid to the growth of the segment in the global silicon metal market.
By Geography: Asia-Pacific region accounted for the largest share of the global silicon metal market in 2021, due to the presence of a large production base of silicon and aluminum.
Growing consumption of silicon metal in the automotive industry coupled with the increasing number of initiatives taken by the governmental body to accelerate the solar industry, is expected to augment the growth of the region in the silicon metal market.
Competitive Landscape
The silicon metal market is highly competitive with ~300 players that include globally diversified players, regional players as well as a large number of country-niche players having their niche in silicon metal.
Regional players comprise ~55% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. Some of the major players in the market include Ferroglobe, Dow, Elkem ASA, RIMA INDUSTRIAL, RusAL, LIASA, Hoshine Silicon Industry Co., Ltd., Zhejiang kaihua yuantong silicon industry co. LTD, Anyang Wanhua Metal Material Co. Ltd., and Shin-Etsu Chemical Co., Ltd., among others.
The leading global silicon metal companies such as Ferroglobe, Dow, and Elkem ASA are highly focused on expanding their business and production capacity of silicon metal to meet the demand of end-users.
Frequently Asked Questions
What is the Study Period of this Market Report?
-- The Global Silicon Metal Market is covered from 2017-2028 in this
report, which includes a forecast for the period 2022-2028
What is the Future Growth Rate of the Global Silicon Metal Market?
-- The Global Silicon Metal Market is expected to witness a CAGR of ~5% for
the next six years
What are the Key Factors Driving the Global Silicon Metal Market?
-- The increasing demand for silicon metal in the automotive and
semiconductor industry along with increased demand for electronics goods
in different countries and supportive initiatives by the government to
boost the demand for electric vehicles is anticipated to augment the
growth of the global silicon metal market
Which is the Largest Product Type Segment within the Global Silicon Metal Market?
-- Metallurgy grade held the largest share of the global silicon metal
market in 2021
For more information about this report visit https://www.researchandmarkets.com/r/j85ogk
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/global-silicon-metal-market-report-2022-sector-to-reach-8-billion-by-2028-at-a-cagr-of-5-301796728.html
SOURCE Research and Markets
|
|
|
|
|
 |
Energy Toolbase Launches Energy Storage Partnership with Sungrow to Support PowerStack 255CS and PowerTitan 2.0 | Jan 22, 2026
|
|
Einride and IonQ Partnership Uses Quantum Computing to Optimize the Logistics of Electric and Autonomous Freight | Jan 22, 2026
|
|
RS now offers Phoenix Contact's pioneering new NearFi technology | Jan 22, 2026
|
|
SCAILIUM Debuts "AI Production Layer" to Overcome GPU Starvation and Slash AI Energy Waste | Jan 22, 2026
|
|
MetaOptics to Showcase Five Breakthrough Metalens-Powered Products at CES 2026 | Jan 22, 2026
|
|
No Assembly Required: Barrett Distribution Centers Powers Maxwood Furniture's West Coast DTC Expansion | Jan 22, 2026
|
|
Quantum Art Raises $100 Million in Series A Round to Drive Scalable, Multi-Core Quantum Computing | Jan 22, 2026
|
|
Hesai Recognized as the Only Lidar Company on Morgan Stanley's "Humanoid Tech 25" of Global Robotics Leaders | Jan 22, 2026
|
|
TESSAN to Redefine Global Mobility at CES 2026 with '100 Travelers' Initiative and Flagship Voyager 205 | Jan 22, 2026
|
|
1inch Named Exclusive Swap Provider at Launch for Ledger Multisig | Jan 22, 2026
|
|
|
