Silicon metal is a grey metallically glossy semi-conductive metal which is used in the manufacturing of steel, solar panels, aluminum alloys, and microchips. It is also known as semi-metallic or metalloid. It is generally produced by smelting quartz & coke in a submerged in an energy-intensive, electric arc furnace. It acts as a raw material for a huge number of industrial & consumer products for instance sealants, lubricants, coatings, adhesives, and polishes & cosmetics. It is necessary in the production of aluminum & chemical products. It is also an essential material in electronics or solar industries. Its electrical properties are modified through a process called doping, which make it an ideal material for constructing transistors that amplify electrical signals. It possesses a restrained energy band gap of 1.12eV at 0 K, which makes it a stable element. The key properties are machinability, high melting point, high corrosion resistivity and high thermal conductivity.
According to study, “World Silicon Metal Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world silicon metal market are GSM, Simcoa Operations Pty Ltd., Silicon Metal Industries, Ferroatlantica, Wacker Chemie AG, Dow Corning, RW silicium GmbH, Rima Group, G.S. Energy, The Quartz Corporation, UC RUSAL, Hoshine Silicon, MINASLIGAS, Elkem, Yunnan Yongchang, Sanxin, Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd., Liaoning Shuangyi, BlueStar Silicon Material, DaTong Jinneng, Wynca Group, Globe Speciality Metals Inc., Pengcheng Guangfu, Neoplant, H.C. Starck, S+A Blackwell, Zhongcheng Silicon, Mississipi Silicon, Liasa, Panadyne Inc., Micron Metals, Minhang Silicon, Dadi Zelin Silicon, Zhong Yu Jin Ming Silicon, ABSCO, CNPC Powder, Mingrui Siliocon, Yinfeng Silicon Products, Yafei Alloy, Sanhui Naihuo, VestaSi, Anyang Yuda Silicon, Jiuzhou Silicon, BAIDAO.
Based on grade type, silicon metal market is segmented into chemical grade silicon metal and metallurgy grade silicon metal. Metallurgical grade silicon metal segment is pure silicon metal comprising almost ninety-nine percent purity. Based on product type, market is segmented into content 98%-99%, content 99%-99.5% and content > 99.5%. Based on sales channel, market is segmented into direct sales channel and distribution sales channel. In addition, based on application, market is segmented into aluminum alloys, solar panels (satellites, watches, electrical fences, and calculators), electronic semiconductors (printed circuit boards, integrated circuits and transistors), silicones/silanes, stainless steel, laboratory reagents and other applications.
The silicon metal market is driven by rise in demand from solar industry, followed by increase in demand for aluminum-silicon alloys, rise in production of semiconductors, growth of automotive sector and rise in demand for portable electronics, automobiles, and solar panels. However, high cost of production may impact the market. Moreover, rise in demand for solar panel is a key opportunity for market.
Based on geography, China and India countries hold major share in silicon metal market owing to rise in demand for automobiles, large investment opportunities and increase in population in the countries. USA and Europe regions are expected to witness higher growth rate due to rise in automotive industries and increase in disposable income of consumers over the forecast period. The worldwide market is projected to grow at a CAGR of approximately 4.2% over the next five years, will reach US $8330 million in 2024, from US $6520 million in 2019.
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Ankur Gupta, Head Marketing & Communications