Proliferating Construction Activities Worldwide to Augment Demand for Silicon Metals

Albany, New York :Market Research Reports Search Engine (MRRSE) has announced the addition of a new report to its repository. The report is titled “Silicon Metal Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.” The report forecasts that the global silicon metal market will demonstrate a CAGR of 5.2% between 2016 and 2024. According to the report, the global silicon metal market is expected to touch a valuation of US$3.4 bn by the end of 2024.

The report begins with a snapshot of the global silicon metal market. This section articulates the key dynamics along with the trends predominant in the global silicon metal market. The growing demand for solar panels is likely to positively influence the growth of the global silicon metal market. Moreover, the increasing application of aluminum alloys in the transportation sector is another factor that is likely to augment the demand for silicon metals in the coming years. Desirable properties of silicon metals such as low extraction and processing cost, low temperature susceptibility, less current leakage, and easy doping are likely to drive their use in the semiconductors industry.

Furthermore, the robust growth of the building and construction sector in the Asia Pacific region is anticipated to aid the growth of the silicon metals market in the region over the next few years. Initiatives by governments across the world to enhance the use of solar panels for meeting the domestic energy requirements is another factor that is further expected to boost the demand for silicon metal as it is an essential component used in the manufacturing of solar panels.

Sample Research Report: http://bit.ly/2dC8kCm

On the basis of application, the report segments the global silicon metal market into aluminum alloys, silicones/silanes, semiconductors, solar panels, and others such as laboratory reagents, stainless steel, etc. Among all the applications of silicon metals, aluminum alloys are expected to emerge dominant. It accounted for almost 40% of the overall share in 2015 in the global silicon metal market. The application of silicon metal in semiconductors industry is also expected to exhibit strong growth, second only to aluminum alloys.

Geographically, the global silicon metal market is segmented into the Middle East and Africa, Latin America, Asia Pacific, Europe, and North America. Among these, Asia Pacific emerged dominant with a share of 40% in the global silicon metal market in 2015 in terms of volume. Owing to the positive economic growth, easy accessibility of raw materials, and inexpensive power and labor costs, Asia Pacific is expected to maintain a lead until 2024. Asia Pacific is anticipated to be followed by North America in terms of consumption.

The global silicon metal market is oligopolistic in nature due to the existence of entry barriers and a high cost of production. This nature of the market is expected to prevail owing to the favorable government policies and regulations.

Browse Full Global Silicon Metal Market Report with TOC:http://www.mrrse.com/silicon-metal-market

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This release was published on openPR.