Global Silicon Metal Market Expected to Reach US$ 3.48 Bn by 2024: Transparency Market Research

Transparency Market Research has released a new market report titled “Silicon Metal Market for Aluminum Alloys, Silicones/Silanes, Semiconductors, Solar Panels, and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the global silicon metal market was valued at US$ 2.21 Bn in 2015 and is anticipated to reach US$ 3.48 Bn by 2024, expanding at a CAGR of 5.2% between 2016 and 2024. In terms of volume, the silicon metal market stood at 1.89 million tons in 2015.

Silicon metal is purified elemental silicon alloyed with significant quantitates of other elements including aluminum and calcium. It is derived through thermal reduction of quartz (silicon dioxide) in an electric arc furnace with carbon electrodes. Silicon metal is majorly used in the production of aluminum alloys. It also acts as the primary raw material in the production of upstream products: polysilicon, pyrogenic silica, and siloxane. Furthermore, these upstream products are employed in the manufacture of silicones, semiconductors, and solar panels. Rising demand for aluminum alloys in transportation is likely to boost the market for silicon metal during the forecast period. Threat from supply dynamics of raw material and high production cost are expected to hamper market growth during the forecast period. However, innovations in the manufacturing process of silicon metal and increased penetration of solar panels application segment are anticipated to offer immense growth opportunities to the global silicon metal market from 2016 to 2024.

Asia Pacific was the largest consumer of silicon metal in 2015. The region held more than 40% share of the global silicon metal market primarily due to the high demand for aluminum alloys in the automotive industry. However, growth in applications such as semiconductors and solar panels in Asia Pacific is projected to lower the domination of the segment in the region during the forecast period. Asia Pacific is also likely to be the fastest growing market during the forecast period owing to the high demand for solar panels. Demand for silicon metal in the region is projected to increase, led by the rapid growth in application of silicon metal for solar panels in emerging economies of China and India. Rising demand for silicone elastomers due to the rapid growth in the construction industry in China and India is expected to propel the silicon metal market in the region in the next few years.

 Browse the full report at http://www.transparencymarketresearch.com/silicon-metal-market.html

The silicon metal market in Middle East & Africa is expected to expand at moderate pace during the forecast period. Countries such as Saudi Arabia, Jordan, and Egypt have launched solar energy projects in order to lower their dependency on non-renewable sources of energy. Governments and private energy firms in the region have invested significantly in solar plants. This is anticipated to boost the demand for silicon metal in the region.

The silicon metal market in North America is projected to witness moderate growth due to the demand for silicon metal in aluminum alloys. The alloys are increasingly employed to replace heavy cast iron and steel components, thereby creating fuel efficient engines and improving fuel economy among automotive vehicles. The silicon metal market in Latin America is likely to experience moderate growth during the forecast period primarily due to demand for silicone-based defoamers in the food & beverage industry.

The market for silicon metal is consolidated. Manufacturers focus on product differentiation and supply chain integration. Several manufacturers have quartz mining units, silicon metal manufacturing assets and even produce downstream products. The key players for silicon metal market include Ferroglobe PLC, China National Bluestar (Group) Co, Ltd., Dow Corning Corporation, MINASLIGAS, RW silicium GmbH, Simcoa Operations Pty Ltd, Wacker Chemie AG, RIMA Group, and Yunnan Yongchang Silicon Industry Co., Ltd.

The report segments the global silicon metal market as follows:

Silicon Metal Market – Application Analysis

  • Aluminum Alloys
  • Silicones/Silanes
  • Semiconductors
  • Solar Panels
  • Others (Including Stainless Steel, Laboratory Reagents, etc.)

Silicon Metal Market – Regional Analysis

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

Get Research PDF for more Professional and Technical Insights: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=12845

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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