Global Silicon Metal Market - Segmented by Type, Application, and Geography – Trends, and Forecasts (2017 - 2022)
The global silicon metal market was valued at USD XX million in 2016 and is projected to register an estimated CAGR of XX% during 2017-2022 (the forecast period). The increasing use of silicon metal in the automotive, aerospace, and solar industries is expected to drive the market during 2017-2022 (the forecast period).
Silicon metal is a hard, brittle, and blue-grey lustrous semi-conductive metal, which is used to manufacture solar cells, steel, and microchips, along with various other commodities. Due to the properties such as high corrosion resistivity, machinability, and high thermal conductivity; silicon metal is widely used to manufacture aluminum alloys, silicones, semiconductors, and solar panels.
A major market driver is the continuous growing demand for silicon metal for the production of aluminum alloys, which are used in the foundry, automotive, and aerospace industries. When used with aluminum, silicon improves hardness, strength, and castability, and, hence, are used significantly in the production of aluminum alloys. Further, they are used to manufacture silicon compounds and silicon wafers, which are used to manufacture semiconductors and photovoltaic cells. As these industries continue to grow, the market for silicon metal is expected to accelerate during 2017-2022 (the forecast period).
In terms of consumption, Asia-Pacific accounted for the largest market size in 2016. During the forecast period, the market is expected to register the highest CAGR of XX% among the regions such as Asia-Pacific, North America, Europe, South America, and Middle-East & Africa. Increasing demand for aluminum alloys and silicones from the automotive, electronics, solar, and aerospace industries is expected to significantly drive the silicon metal market, during 2017-2022 (the forecast period).
NOTABLE DEVELOPMENTS IN THE MARKET
• In 2017, Ferroglobe decided to increase the production of ferrosilicon at its Sabón facility in northwest Spain.
• In 2016, PCC SE started the construction of the world’s most advanced and environmentally compatible silicon metal production plants in Iceland. The project had received an investment of USD 300 million and is expected to be completed by 2018, with a production capacity of 32,000 metric ton per year of silicon metal.
WHY PURCHASE OUR REPORT
• Know about: the latest news and innovations of global silicon metal market manufacturers
• Analyzing various market perspectives with the help of porter’s five forces analysis
• Which end-user industry of silicon metal will dominate the market
• Which of the regions will witness the fastest growth during forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players, such as:
o Ferroglobe PLC
o The Quartz Corporation
o Dow Corning Corporation
o Wacker Chemie AG