Global Silicon Metal Market to Worth $10.92 Billion | Silicon Production to Quadrupole by 2030 in Silicon Metal Market
Global silicon metal market was valued at USD 7.51 billion in 2021, and it is expected to reach a value of USD 10.92 billion by 2028, at a CAGR of 5.5% over the forecast period (2022–2028).
Westford, USA, Dec. 05, 2022 (GLOBE NEWSWIRE) — A new report from the SkyQuest provides a detailed analysis of global silicon metal market, including production, consumption, trade, and prices. The report notes that silicon is a key ingredient in many industries, including electronics, solar energy, and transportation. The report finds that production of silicon has increased rapidly in recent years, driven by growth in demand from China. However, the Chinese government has recently placed restrictions on silicon production, leading to concerns about future supply. Consumption of silicon has also been growing steadily, led by increases in demand for solar panels and electric vehicles. The report projects that global silicon demand will continue to grow in the coming years.
Trade in silicon metal market is dominated by China, which accounts for over 60% of global exports. The United States is the largest importer of silicon, with imports totaling $2.3 billion in 2021. Prices for silicon have been volatile in recent years, but have trended upward overall. The report projects that prices will continue to increase in the short term due to tight supplies.
Get a sample copy of this report:
https://skyquestt.com/sample-request/Silicon-metal-market
SkyQuest Analysis of Global Silicon Metal Market
Silicon is the raw material used to make solar panel and semiconductors, which are the building blocks of electronic devices. The global silicon market is highly consolidated, with the top 10 companies accounting for more than 80% of the market. The leading players in the silicon market are Sumitomo Metal Mining, Shin-Etsu Chemical, Sigma-Aldrich, and Wacker Chemie. SkyQuest’s analysis shows that Sumitomo Metal Mining is the largest player in the global silicon market. Shin-Etsu Chemical is the second largest player.
According to the analysis, Sumitomo Metal Mining and Shin-Etsu Chemical are the leaders in the silicon metal market due to their vertically integrated business models and strong relationships with key customers in the semiconductor industry.
In its analysis of the silicon metal market, SkyQuest found that the average age of companies in the sector is just over 11 years old. The majority of companies are headquartered in the China (48%), followed by US (19%) and Japan (10%).The average revenue for a silicon company is $600 million, while the median revenue is $300 million. The top 10% of companies account for 71% of total sector revenue. We have found that silicon companies are relatively R&D intensive, with an average R&D spend of 16% of revenue. The median R&D spend is 9% of revenue. The silicon industry is heavily reliant on patents, with the average company holding 559 patents. The top 10% of companies hold over 3,000 patents apiece.
Browse summary of the report and Complete Table of Contents (ToC):
https://skyquestt.com/report/Silicon-metal-market
Silicon Production to Quadrupole by 2030 in Silicon Metal Market
The study projects that global silicon production will more than quadruple by 2030, driven by continued growth in the semiconductor and renewable energy industries. The report notes that silicon is an essential raw material for the production of semiconductors, and that the semiconductor industry has been one of the fastest growing industries in recent years. The authors attribute this to the ever-increasing demands of consumers for faster and better electronic devices. Interestingly, the SkyQuest predicts that much of this growth of the global silicon metal market will come from China, which is currently the world’s largest producer of silicon. They project that Chinese silicon production will grow from 6 million metric tons in 2021 to 24 million metric tons in 2030. This increase is due to a number of factors, including the Chinese government’s continued support for the semiconductor industry and the country’s large and rapidly growing consumer market.
So, what does this all mean for the future of silicon demand?
It looks like we can expect strong growth in both global production and consumption over the next few years. This is good news for those in the semiconductor industry, as well as for consumers who continue to demand ever-more sophisticated electronic devices.
Speak to Analyst for your custom requirements:
https://skyquestt.com/speak-with-analyst/Silicon-metal-market
Aluminum Alloy of Silicon to Contribute 40% to Global Silicon Metal Market Revenue
Aluminum alloy of silicon to generate over 40% revenue: The aluminum alloy market is expected to grow at a CAGR of over 5% from 2022 to 2028. The major drivers of this market are the growing demand for lightweight vehicles and the increasing use of aluminum alloys in the automotive industry. One of the key trends in the silicon aluminum alloy market is the increasing use of aluminum alloys in electric vehicles. Electric vehicles require lighter materials to reduce their overall weight and increase their range. Aluminum alloys are being used in electric vehicles to replace heavier materials such as steel and iron.
The aluminum alloy in the global silicon metal market is segmented by type, end-use industry, and region. By type, the market is split into cast alloys, wrought alloys, and powder alloys. Among these types, wrought alloys are expected to generate the highest revenue during the forecast period. This is attributed to their superior properties such as high strength, good ductility, and excellent corrosion resistance. By end-use industry, the aluminum alloy is categorized into transportation, packaging, construction, consumer durables, electrical & electronics, machinery & equipment, and others. The transportation sector is projected to be the largest end-user of aluminum alloys during the forecast period because of the increasing use of these materials in automobiles and aircrafts.
The demand for automotive-grade silicon-aluminum alloys in China silicon metal market is expected to reach 150 kt in 2022, with an annual compound growth rate of about 5% from 2022 to 2028. At present, there are only a handful of companies in China that can produce automotive-grade silicon-aluminum alloys, and most of them are under chalco. It can be seen from the above that although chalco’s silicon plants operate at a high level, they still have great room for differentiation and development due to the rapid growth of downstream demand.
Major Player’s in Global Silicon Metal Market
- Anyang Wanhua Metal Material Co. Ltd. (China)
- Dow Inc. (US)
- Elkem ASA (Norway)
- Ferroglobe PLC (UK)
- Hoshine Silicon Industry Co. Ltd. (China)
- Henan ALOY New Material Co. Ltd. (China)
- Liasa (South Africa)
- Mississippi Silicon LLC (US)
- Shin-Etsu Chemical Co. Ltd. (Japan)
- United Company RUSAL (Russia)
- Wacker Chemie AG (Germany)
Related Reports in SkyQuest’s Library:
Global Structural Core Materials Market
Global Automotive Metal Market
Global Ferrosilicon Alloy Materials Market
Global Graphite Electrode Market
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: sales@skyquestt.com
