Global Silicon Metal Market 2017-2021
About Silicon Metal
Silicon, in terms of mass, is the eighth most common element in the universe, and is the second most abundant element in the earth's crust. It occurs naturally in silicate minerals, including silica, feldspar, and mica, which are major components of common rocks such as quartz and sandstone. Silicon metal is a lustrous, grey colored semi-conductive metal that is used in the production of steel, solar cells, and microchips. Metallurgical grade silicon is used in steelmaking and as an alloying agent in aluminum casting.
Technavio’s analysts forecast the global silicon metal market to grow at a CAGR of 5.20% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global silicon metal market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Silicon Metal Market 2017-2021
Technavio recognizes the following companies as the key players in the global silicon metal market: Ferroglobe, MINASLIGAS, Wacker Chemie, and Zhejiang kaihua Yuantong Silicon Industry.
Other Prominent Vendors in the market are: BlueStar Silicon Materials, RW silicium, Simcoa Operations, and Westbrook Resources.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is investment opportunities in APAC. Investors are displaying increasing anticipation about the growth prospects in the solar power industry in APAC, which had been a backwater of renewable energy in the recent past. The region is expected to benefit from the rapidly declining price of solar panels. The strong economic growth and undeveloped infrastructure in more remote areas of APAC, abundant sunshine, relatively high cost of electricity, lack of conventional sources, and backing for more renewable energy from governments are the major beneficial factors.”
According to the report, one driver in the market is increase in the demand for aluminum-silicon alloys. Aluminum-silicon alloys have witnessed a significant increase in the demand from the automotive and transport industries. These alloys are popular because of their ability to exhibit a unique combination of desirable characteristics, such as casting into complex shapes in combination with a favorable strength-to-weight ratio giving them an edge over cast irons and low density combined with good mechanical properties. Aluminum-silicon alloys are primarily used as castings. In addition, they are used for making sheets and wires for welding and brazing, and a few of the piston alloys are extruded for forging stock.
Further, the report states that one challenge in the market is high production cost of silicon metal. The basic raw materials used for the production of silicon metal, quartz and carbons, are similar to those used for the production of ferrosilicon. However, a high level of purity is required in order to meet the requirements for the production of the silicon. Certain impurities, such as iron, are difficult to eliminate once they enter the furnace, and create a noticeable effect on the production of silicon metal. The quality of quartz is considered to be good if the iron content is significantly lower than that of quartz used in ferrosilicon. Along with the importance of its chemical purity, other physical parameters affect the functioning and efficiency of the furnaces, extensively.
BlueStar Silicon Materials, RW silicium, Simcoa Operations, Westbrook Resources