Key Companies Covered in the silicon metal Research are 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. and other key market players.
The global silicon metal market size was $6.3 billion in 2019, and is projected to reach $8.9 billion by 2030, growing at a CAGR of 5.5% from 2022 to 2030.
Silicon metal is an industrial additive produced by smelting quartz and coke in an electric heating furnace. It consists of 98% of silicon, although the composition of silicon has increased as close to 99.99% silicon in recent years. Impurities in silicon metals mainly include iron, aluminum, and calcium. Silicon metal is used as a feedstock in the production of silicones, aluminum alloys, and semiconductor materials. Based on its application, silicon metals are offered in various grades, namely, metallurgical, chemical, electronics, polysilicon, solar, and high purity grades. The production of various grades of silicon metal starts with the refining process of silica within quartz rock or sand, followed by a carbothermic reduction of silica that occurs in an arc furnace to produce metallurgical grade silicon. This is then further refined through a hydro-metallurgical process to produce chemical-grade silicon. Chemical-grade silicon metal is majorly used in the production of silicones and silanes. Metallurgical silicon is 99% pure and is used in steel smelting and aluminum alloys.
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The global silicon metal market is presently driven by various factors such as increase in demand for aluminum alloys in the automotive industry, expanding application spectrum of silicones, demand from energy storage markets, and a steady demand from the global chemical industry. A major chink of silicon metal is currently used in the production of aluminum alloys, which, in turn, is used in the production of light-weight automotive. Aluminum’s superior strength-to-weight ratio makes it more effective for building fuel efficient cars than steel or iron. Hence, the demand for automotive-related alloys is expected to increase; thus, driving the demand for silicon metal. Silicon metal is absolutely necessary for the production of aluminum and chemical products since it provides them with essential properties. In addition, it cannot be substituted and there is no recycling of (pure) Silicon. In the chemical industry, it is used for producing silicon compounds as well as silicon wafers used in photovoltaic solar cells and electronic semiconductors. Silicon compounds are the raw material for a large and growing number of industrial and consumer products such as silicone rubber parts, urethane foam, sealants, adhesives, lubricants, food additives, coatings, and cosmetics.
The high cost of production of silicon metal is expected to limit its market growth during the forecast period. The production of silicon metal is energy intensive, which increases its cost of production. Submerged arc furnace (SAF) is highly energy intensive and a large portion of the total production cost is related to its energy consumption. Further, the cost of producing silicon metal is controlled by the prices of other components such as coal, quartz, oil/natural gas, and electrodes. The production of silicon metal requires constant supply of its raw material-quartz. Quartz mines are owned by few global players such as Ferroglobe, Rusal, Liasa, and Elkem. Hence, the scope for vertical integration is minimum. This limits the entry of new players in the silicon metal production chain; thus, leading to high prices.
Growing use of silicon metal in solar panel production and focusing on reducing the cost of production of silicon metal will help in the future growth of the global silicon market. Silicon metal is already an essential material in the metal smelting industry; however, the consumption of silicon metal has increased in recent years, mainly from the electronics and solar industries.
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The silicon metal market is segmented on the basis of product type and applications. Based on the product type, the global silicon metal market is divided into metallurgical and chemical. The applications of silicon metal include aluminum alloys, silicone, semiconductors, and others. Regionally, the global silicon metal market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global silicon metal market report provides in-depth competitive analysis as well as profiles of these major players.
1.1. Key benefits for stakeholders – The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global silicon metal market from 2019 to 2027 to determine the prevailing opportunities – The global silicon metal market analysis covers in-depth information of major industry participants. – Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building. – Major countries have been mapped according to their individual revenue contribution to the regional market. – The report provides an in-depth analysis of the global silicon metal market forecast for the period 2020-2027. – The key drivers, restraints, and global silicon metal market opportunity and their detailed impact analysis is elucidated in the study
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1.2. Key market segments – By Product Form – Metallurgical – Chemical – By Application – Aluminum Alloys – Silicone – Semiconductors – Others – By Region – North America o U.S. o Canada o Mexico – Europe o Germany o France o UK o Spain o Italy o Rest of Europe – Asia-Pacific o China o Japan o India o South Korea o Rest of Asia-Pacific – LAMEA o Brazil o Saudi Arabia o South Africa o Rest of LAMEA
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Key Benefits for Industry Participants & Stakeholders
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