Market Definition
Silicon metal is basically a refined version of silica by thermally reducing quartz in a Submerged Arc Furnace (SAF) together with a reducing chemical. Metal silicon and industrial silicon are other names for it. Calcium, iron, and aluminum make up the majority of its chemical make-up. Metallic silicon can be classified into many classes, including 553, 441, 411, 421, 3303, and so on, depending on its Fe, Al, and Ca content.
The global silicon metal market was valued at USD 6.95 billion in 2021 and is expected to reach USD 10.27 billion by 2029, registering a CAGR of 5.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Market Analysis and Size
According to OICA, output of automobiles increased by 3% from 2020 to 80,145,988 units in 2021. Making cars more fuel-efficient and reducing greenhouse gas emissions are top priorities for automakers. The aluminum-silicon alloy is the best choice for addressing these criteria because of its resistance to corrosion, low wear rates, and minimal thermal expansion. As a result, the demand for aluminum-silicon alloys will rise along with the manufacturing of automobiles, which would further increase the demand for silicon metals.
Silicon Metal Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- High Usage of Silicon Metal
The silicon metal serves as the foundation for many items; therefore, the industrial and consumer sectors depend heavily on it. The majority of silicon metal produced today goes toward making aluminum alloys, accounting for most of the total production. Both automotive and aeronautical products are made from aluminum alloys. The addition of silicon increases the alloy’s strength, cast ability, and brittleness, enabling it to be used for a wider variety of high-performance components. The usage of aluminum-based materials as substitutes for heavier steel or iron parts in automotive applications has increased, which has resulted in a large increase in silicon demand in the transportation industry. As a result, the market is projected to have an accelerated growth over the forecast period.
Competitive Landscape and Silicon Metal Market Share Analysis
The silicon metal market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to silicon metal market.
Some of the major players operating in the silicon metal market are
- Infineon Technologies AG (Germany)
- Cree, Inc. (U.S.)
- ROHM Co., Ltd. (Japan)
- Microsemi (U.S.)
- STMelectronics (Switzerland)
- Fuji Electric Co., Ltd. (Japan)
- Semiconductor Components Industries, LLC (U.S.)
- General Electric (U.S.)
- Toshiba Corporation (Japan)
- Renesas Electronics Corporation (Japan)
- Microchip Technology Inc.,(U.S)
- Grindwell Norton Limited (India)
- Dow (U.S.)
- CUMI (India)
- Entegris (U.S.)
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COVID-19 Impact on Silicon Metal Market
The outbreak of coronavirus had a marginal impact on the global market for silicon metal. Major economies’ unexpected operations halt negatively influenced economic growth and changed consumer purchasing habits. The pandemic further caused a labor shortage in the mining sector, which in turn caused a shortage of quartz, the main raw material used to produce silicon metal. The global manufacturing industry, which included the automotive and infrastructure markets, had to be shut down for longer as a cost-containment measure, decreasing demand for metals and alloys. Similar to the manufacturing industry, lack of labour and resources caused delays in the execution of worldwide building activities. Many construction projects have been put on hold or have been delayed for six months. These changes adversely affected the need for structural supports made of aluminium alloy. China, the pandemic’s epicentre, had to close its electronic OEMs, contract production facilities, and concentrate on vital goods. China is the biggest producer and consumer of silicon metal in the Asia-Pacific region. As a result, the COVID-19 interruption dramatically decreased silicon metal production. The COVID-19 epidemic impacted the supply chain and the electronics sector, which led to a lack of raw materials. Similar demand and supply problems were experienced by silicon, a significant application area for silicon metal, as a result of the pandemic.
Recent Development
- In April 2020, Elkem ASA has now finalised the previously announced acquisition of Polysil, a renowned Chinese silicone elastomer and resins material firm. In addition to silicone products for electronics and medical uses, Polysil is a world leader in silicones for baby care and food-grade applications. Polysil and Elkem’s complementing product and market positions offer a strong platform for further specialisation and expansion in China and internationally.
- In December 2021, The Norwegian Research Council has awarded Elkem NOK 16 billion to develop a new silicon manufacturing strategy that completely eliminates all direct CO2 emissions. This might be a game-changer for the global silicon sector. The business might offer the technology to other businesses, enabling silicon to be produced globally with the least amount of climatic and environmental impact.
Global Silicon Metal Market Scope
The silicon metal market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Metallurgy Grade
- Chemical Grade
Application
- Aluminum Alloys
- Semiconductors
- Solar Panels
- Stainless Steel
- Other Applications
Silicon Metal Market Regional Analysis/Insights
The silicon metal market is analyzed and market size insights and trends are provided by country, product type and application as referenced above.
The countries covered in the silicon metal market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and revenue, and this dominance is expected to continue during the forecast period of 2022-2029. This region’s market growth can be attributed to the region’s growing demand for silicon from various industries.
North America, on the other hand, is expected to experience profitable growth during the forecast period of 2022-2029, owing to increased investments in the region’s production of mobile phones, laptop computers, and other electrical appliances.
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