Silicon Metal Market to be worth US$3.4 mn by 2024 | TMR

​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.
This 136 page report gives readers a comprehensive overview of the Silicon Metal Market. Browse through 48 data tables and 65 figures to unlock the hidden opportunities in this market.
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.
Get accurate market forecast and analysis on the Silicon Metal Market. Request a sample to stay abreast on the key trends impacting this market @
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.Silicon Metal Market to be worth US$3.4 mn by 2024 | TMR

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