Silicon Metal Market Growth Trends: Key Developments, Business Demand and Opportunities Forecast to 2027

The global silicon metal market has experienced significant growth, reaching $6.3 billion in 2019 and projected to hit $8.9 billion by 2027, with a CAGR of 5.5%. Asia-Pacific has been a key contributor, maintaining its dominance in revenue share. However, the COVID-19 pandemic and subsequent lockdowns have disrupted production, especially in the mining industry, causing a shortage of quartz-a crucial raw material for silicon metal.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/9627

The rise in demand for aluminum silicon alloys, the versatility of silicones, and increased usage in semiconductor applications have been driving market growth. Despite these positive factors, high production costs pose a challenge. Yet, innovations in existing technologies present new opportunities for the industry.

The pandemic has affected production activities and led to a deficit of quartz due to workforce shortages in mining. The manufacturing, construction, and electronics sectors witnessed a decline in demand, but a resurgence is expected as operations resume. The silicone industry, a major application area for silicon metal, faced disruptions in supply.

Segmentation analysis reveals that metallurgical grade silicon, comprising over half of the market share in 2019, is projected to maintain its leadership status with the highest CAGR of 5.9%. Application-wise, aluminum alloys held a significant share in 2019 and are expected to maintain their lead, while the semiconductor segment is poised for the largest CAGR of 6.2%.

Regionally, Asia-Pacific contributed over two-fifths of the market share in 2019 and is anticipated to maintain its dominance, exhibiting the fastest CAGR of 6.4%. The report also covers North America, Europe, and LAMEA.

Key players in the global silicon metal market include Anyang Wanhua Metal Material Co. Ltd., Elkem ASA, Dow Inc., Henan ALOY New Material Co. Ltd., Ferroglobe PLC, Liasa, Hoshine Silicon Industry Co. Ltd., Shin-Etsu Chemical Co. Ltd., Mississippi Silicon LLC, and United Company RUSAL.

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐚𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐡𝐞𝐫𝐞: https://www.alliedmarketresearch.com/silicon-metal-market-A09262

Contact:

David Correa

United States

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int'l: +1-503-894-6022

Toll Free: +1-800-792-5285

Fax: +1-800-792-5285

help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.