Rise in demand for aluminum silicon (Al-Si) alloys, versatility of silicones, and increase in usage in semiconductor applications drive the growth of the global silicon metal market. Asia-Pacific contributed to the highest market share in 2019, and is expected to maintain its dominance in terms of revenue by 2027. The production activities have been hampered due to imposed lockdown by many governments.
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 aluminum alloys segment held around two-fifths of the global silicon metal market in 2019, and is expected to maintain its lead position by 2027. However, the semiconductors segment is estimated to manifest the largest CAGR of 6.2% from 2020 to 2027.
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Asia-Pacific contributed to the highest market share in 2019, accounting for more than two-fifths of the total market share, and is expected to maintain its dominance in terms of revenue by 2027. In addition, this region is expected to witness the fastest CAGR of 6.4% from 2020 to 2027. The report also discusses regions including North America, Europe, and LAMEA.
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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