Silicon Metal Market Future Looks Bright for Big Revenues as Market Size Expands

Based on the report by Allied Market Research, the global silicon metal market experienced significant growth in 2019, amounting to $6.3 billion in revenue. It is expected to reach $8.9 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 5.5% from 2020 to 2027. Key factors driving this growth include a rise in demand for aluminum silicon (Al-Si) alloys, the versatility of silicones, and increased usage in semiconductor applications. However, the high production cost is a significant barrier to market expansion. Nonetheless, opportunities for growth are anticipated in the coming years, particularly due to innovations in existing technologies.

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The COVID-19 pandemic has also impacted the silicon metal market. The global lockdowns have disrupted production activities, leading to shortages of quartz-a crucial raw material for silicon metal production. Decreased demand from sectors such as manufacturing, construction, and electronics due to lockdowns and a lack of skilled workers further hindered market growth. However, as operations gradually resume, demand is expected to recover. The silicone industry, a major consumer of silicon metal, was also affected due to supply disruptions.

The report provides a detailed analysis of the global silicon metal market, including segmentation based on type, application, and region. The metallurgical grade segment held the majority of the market share in 2019 and is expected to maintain its dominance during the forecast period, registering the highest CAGR. The aluminum alloys segment accounted for a significant portion of the market in 2019 and is expected to lead in 2027. The semiconductors segment is anticipated to grow the fastest from 2020 to 2027.

Regionally, Asia-Pacific held the highest market share in 2019 and is expected to maintain its dominance by 2027. Additionally, it is projected to have the fastest CAGR from 2020 to 2027. Other regions discussed in the report include 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.

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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.

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