Press release
Silicon metal size Market Research Report 2024-2033: Opportunities and Strategies
Silicon metal size Market Research
According to The Business Research Company's, The silicon metal size market size has grown rapidly in recent years. It will grow from $21.21 billion in 2023 to $24.8 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to demand from electronics industry, industrialization trends, energy sector utilization:, global economic conditions, government policies and regulations:.
The silicon metal size market size is expected to see rapidly grown in the next few years. It will grow to $43.47 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to renewable energy growth, urbanization and infrastructure development, environmental sustainability initiatives, geopolitical factors, consumer electronics evolution. Major trends in the forecast period include advancements in energy storage, automotive sector integration, technological innovations in silicon production, global industrialization and urbanization, focus on high-purity silicon.
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Market Drivers and Trends:
The increasing demand for electronic vehicles is expected to propel the growth of the silicon metal size market going forward. An electronic vehicle is driven by an electric motor powered by a battery that can be charged externally. The silicon metal size ensures energy efficiency, resistance to corrosion, durability, and thermal expansion characteristics, which helps electric vehicles gain more battery-specific volume and energy density, thus boosting the demand. For instance, in May 2022, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, sales of electric cars (including fully electric and plug-in hybrids) doubled in 2021 to set a new record of 6.6 million, and a number of the electric cars on the world's roads by the end of 2021 was about 16.5 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increasing demand for electronic vehicles is driving the growth of the silicon metal size market.
Technological innovations are a key trend gaining popularity in the silicone metal size market. Companies operating in the silicon metal size market are adopting new technologies to sustain their position in the market. For instance, in January 2023, Dow, a US-based plastic and chemical manufacturer and synthetic fiber supplier, launched the SILASTIC SA 994X Liquid Silicone Rubber (LSR) series, a selective adhesion liquid silicone rubber. It is uniquely designed for two-component injection molding with thermoplastic substrates across multiple automotive applications with primerless, self-adhesive, general purpose and self-lubricating, one-to-one mix ratio LSRs. It has durable adhesion under heat and humidity with 12-month shelf-life stability and can develop full bond strength instantly.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Ferroglobe plc; DuPont de Nemours Inc.; Elkem ASA; Wacker Chemie AG; Hoshine Silicon Industry; Shin-Etsu Chemical Co. Ltd.; Anyang Wanhua Metal Material Co. Ltd.; United Co RUSAL International PJSC; Library and Information Association of South Africa; Mississippi Silicon LLC; Henan Aloy New Material Co. Ltd.; Rima Group; Zhejiang Kaihua Huantong Silicon Industry; Infineon Technologies AG; ST Microelectronics NV; Fuji Electric Co. Ltd.; PCC SE; Simcoa Operations Pty. Ltd.; China National BlueStar (Group) Co. Ltd.; RW Silicium GmbH; Minasligas SA; Globe Specialty Metals Inc.; FerroPem SASU; Silicon Metal Industries; The Quartz Corp.; Globe Metallurgical Inc.; Siltech Corporation; Silicon Smelters (Pty) Ltd; Vesta Si LLC; Micron Metals Inc.; Silicon Technology Corporation
Silicon metal size Market 2024 Key Insights:
• The silicon metal size market size will grow to $43.47 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%.
• Surging Demand For Electric Vehicles Drives Silicon Metal Size Market
• Technological Innovations In Silicone Metal Size Market
• Asia-Pacific was the largest region in the silicone metal size market in 2023 and is expected to be the fastest-growing region in the silicon metal size market report during the forecast period
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