Silicon Metal Market Size USD 7345.5 Million by 2026 at CAGR 6.6% | Valuates Reports

BANGALORE, India, Dec. 21, 2020 /PRNewswire/ -- The Silicon Metal Market is Segmented by Type (Content >99.5%, Content 99.0%-99.5%, Content 98.0%-99.0%), by Application (Aluminum Industry, Silicone Compounds, Photovoltaic Solar Cells, Electronic Semiconductors), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2020–2026. This report is published on Valuates Reports in the Metal & Mining Category.

The global Silicon Metal market size is projected to reach USD 7345.5 Million by 2026, from USD 5008.7 Million in 2020, at a CAGR of 6.6% during 2021-2026. 

Major factors driving the growth of silicon metal market size are rising installations of photovoltaic cells, strong demand from aluminum producers, and increasing demand from semiconductor manufacturers.

The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by Type, and by Application segment in terms of production capacity, price, and revenue for the period 2015-2026.

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TRENDS INFLUENCING THE GLOBAL SILICON METAL MARKET SIZE 

Silicon metal is used for the manufacture of polycrystalline silicon, which is often used as an important raw material for the production of both solar photovoltaic cells and semiconductors for the electronics industry. The rising adoption of polycrystalline silicon in the production of solar photovoltaic cells is expected to fuel the growth of silicon metal market size.

A large proportion of silicon metal is used for the manufacture of aluminum. Global aluminum production is expected to recover gradually from the COVID-19 pandemic, with a major rise in the demand for aluminum alloy from the automotive manufacturing and construction industry in 2021. This increase in demand for aluminum alloy is expected to drive the growth of the silicon metal market size. Increased silicon content in aluminum alloys increases wear resistance. Silicon-based aluminum alloys also provide ample strength for structural longevity.

The silicon metal is used for the production of silicone in the chemical industry. Silicones, in turn, are used in a wide variety of end-use industries including manufacturing, transport, healthcare electronics, and textiles.  The diverse application of silicone is expected to drive the silicon meal market size.

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SILICON METAL MARKET SHARE ANALYSIS 

Based on the type, Content 99.0%-99.5% accounted for the largest silicon metal market share of about 49%, in 2019. 

Based on region, North America is expected to hold the largest silicon metal market share. This dominance of North America is attributed to the increasing penetration of electric vehicles in this region.

Asia Pacific region is expected to witness the highest growth during the forecast period. In China, the automotive manufacturing sector is expected to experience a major decline in 2020 due to the sluggish demand and supply chain disruption caused by COVID-19. However, favorable policies for electric vehicles, which have a higher proportion of aluminum alloys by weight, are expected to drive industry development in the near future.

By Region:

• North America,
• Europe,
• China,
• Japan,
• Brazil,
• Australia
• Southeast Asia.

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SILICON METAL MARKET SEGMENTATION

Silicon Metal Breakdown Data by Type

• Content >99.5%
• Content 99.0%-99.5%
• Content 98.0%-99.0%.

Silicon Metal Breakdown Data by Application

• Aluminum Industry
• Silicone Compounds
• Photovoltaic Solar Cells
• Electronic Semiconductors.

TOP COMPANIES IN THE SILICON METAL MARKET

The top 5 manufacturers have about 33% revenue market share in 2019.  Some of the top companies in the silicon metal market include, 

• Ferroglobe
• Elkem
• Simcoa
• Wacker
• Rima Group
• RW Silicium
• UC RUSAL
• G.S. Energy
• Hoshine Silicon
• Yunnan Yongchang Silicon
• Elkem Silicones (BlueStar Silicon)
• Wynca
• East Hope
• Jinxin Silicon
• Great Union
• Sichuan Xinhe.

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