Versatility of silicones, rise in demand for aluminum-silicon (AI-Si) alloys, and surge in use of silicon metal for semiconductor applications have boosted the growth of the global silicon metal market.
As per the report published by Allied Market Research, the global silicon metal market is anticipated to garner $8.9 billion by 2027, registering at a CAGR of 5.5% from 2020 to 2027. The report highlights market characteristics, market potential, and growth by segmentation, and competitive landscape.
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Eswara Prasad, a Manager, Materials & Chemicals at Allied Market Research, stated, “Versatility of silicones, rise in demand for aluminum-silicon (AI-Si) alloys, and surge in the use of silicon metal for semiconductor applications have boosted the growth of the global silicon metal market. However, the high cost of production hinders the market. On the contrary, efforts to reduce the cost of production are expected to open lucrative opportunities for the market players in the future.”
The global silicon metal market is studied across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific is projected to manifest the highest CAGR of 6.4% during the forecast period. Moreover, the region is expected to dominate the market in terms of revenue during the forecast period.
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The global silicon metal market is segmented on the basis of type and application.
Based on type, the metallurgical grade segment is estimated to portray the highest CAGR of 5.9% from 2020 to 2027. Moreover, the segment is projected to hold the highest share of the market during the forecast period.
On the basis of application, the semiconductors segment is expected to register the highest CAGR of 6.2% through 2027. However, the aluminum alloys segment is estimated to maintain its dominance in terms of share during the forecast period.
The global silicon metal market report includes an in-depth analysis of the major market players such as Anyang Wanhua Metal Material Co. Ltd., Dow Inc., Elkem ASA, Ferroglobe PLC, Henan ALOY New Material Co. Ltd., Hoshine Silicon Industry Co. Ltd., Liasa, Mississippi Silicon LLC, Shin-Etsu Chemical Co. Ltd., and United Company RUSAL.
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About Allied Market Research:
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 domains.
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