Silicon Tetrachloride Market sales to reach a valuation of US$ 2,846.0 Mn in 2027

Future Market Insights (FMI) has published a new research titled "Silicon Tetrachloride Market: Global Industry Analysis 2012 - 2021 and Opportunity Assessment 2022 - 2027." The report states that the demand for silicon tetrachloride is likely to be driven by the growing demand for chemical intermediate manufacturing. As silicon tetrachloride is employed as an intermediate in the production of polysilicon, its demand in certain vertical industries is also increasing and is expected to remain on the same track in the coming years.

The global silicon tetrachloride sales is expected to create a valuation of about US$ 2,277.4 Mn in 2022. The global business is further estimated to witness a considerable CAGR of 4.5% during the period of 2022 and 2027.

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Growing Demand for Optic Cable to Bode Well for Market Growth

High purity silicon tetrachloride is a major raw material used for the manufacturing of optic cable preform, which is used in the manufacturing of optic cables. In the recent past, supported by the growth of 4G, 5G, LTE, FFTx and the IoT, there has been a significant increase in the demand for optic cables across the globe. China, U.S. and Japan constitute around 80% of total optic cable preform manufacturing and in terms of consumption, China accounted for nearly 58% of total optic fibre preform in 2022. A constantly increasing demand for optic cables will boost the demand for optic cable preform, which will subsequently drive the silicon tetrachloride market over the forecast period.

However, the government of China has imposed rules and regulations on the manufacturing of silicon tetrachloride, which is produced as a by-product during the production process of polysilicon. The government of China has imposed a minimum recycle rate of 98.5% on silicon tetrachloride and the initial capital cost of silicon tetrachloride recycling facility is high and the operating cost is high as well, which in turn, is increasing the price as well as limiting the supply of silicon tetrachloride. This might adversely affect the growth of the silicon tetrachloride market over the forecast period.

Adoption of Silicon Tetrachloride to be High in China Among all Regions

The growing use of silicon tetrachloride in China can be attributed to the lucrative growth of the solar industry in the region. One of the core raw materials used in the manufacturing of solar panels is silicon tetrachloride. The focus on solar energy in the region is expected to spur the demand for silicon tetrachloride in the coming years. Moreover, the snowballing effect of the semiconductor industry and the rising progress of the paints and coatings industry is anticipated to increase the adoption of silicon tetrachloride in the region in the years ahead.

The increasing demand for chemical intermediate in the manufacturing industry is also expected to propel the demand for silicon tetrachloride in the region. However, the dependence of the region on cyclical end-use industries and the several restrictions imposed on silicon tetrachloride owing to harmful health impacts might slow down the growth of the market in the region.

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Evonik Industries to Emerge Undefeated

In 2021, Evonik Industries accounted for over 40% of the global market share and is expected to retain its dominance in the market over the course of the forecast period. The other companies operating in the market are Cabot Corp., Wacker Chemie AG, The Linde Group, DowDuPont Inc., Tokuyama Corporation, Air Liquide S.A., and OCI Company Ltd., among others.

Silicon Tetrachloride Market by Category

By Grade:

Electronics Grade
Technical  Grade

By Application:

Chemical Intermediate
Trichlorosilane (Polysilicon)
Fumed Silica
Silicone Rubber
Optic Fiber Preform
Others

By Region:

North America
LAMEA
Europe
China
India
Japan
South East Asia & Pacific

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About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.