NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The Global Silicon Metal Market size is estimated to grow by USD 2.24 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.2% during the forecast period. Increase in demand for aluminum-silicon alloys is driving market growth, with a trend towards investment opportunities in emerging economies. However, high production cost of silicon metal poses a challenge - Key market players include Anyang Wanhua Metal Material Co. Ltd., Dow Inc., Elkem ASA, Ferroglobe Plc, Henan Star Metallurgy Material Co. Ltd., Hoshine Silicon Industry Co. Ltd., Ligas de Aluminio S.A., Minasligas, Mississippi Silicon, Ningxia Darshan Silicon Industry Co. Ltd., PCC SE, RIMA INDUSTRIAL, RW silicium GmbH, Shin Etsu Chemical Co. Ltd., Simcoa Operations Pty Ltd., United Co. RUSAL, Wacker Chemie AG, Westbrook Resources Ltd., Wynca Group, and Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd..
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Forecast period |
2024-2028 |
Base Year |
2023 |
Historic Data |
2018 - 2022 |
Segment Covered |
Type (Metallurgy grade and Chemical grade), Application (Aluminum alloys, Semiconductors, Solar panels, Stainless steel, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa) |
Region Covered |
APAC, North America, Europe, South America, and Middle East and Africa |
Key companies profiled |
Anyang Wanhua Metal Material Co. Ltd., Dow Inc., Elkem ASA, Ferroglobe Plc, Henan Star Metallurgy Material Co. Ltd., Hoshine Silicon Industry Co. Ltd., Ligas de Aluminio S.A., Minasligas, Mississippi Silicon, Ningxia Darshan Silicon Industry Co. Ltd., PCC SE, RIMA INDUSTRIAL, RW silicium GmbH, Shin Etsu Chemical Co. Ltd., Simcoa Operations Pty Ltd., United Co. RUSAL, Wacker Chemie AG, Westbrook Resources Ltd., Wynca Group, and Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd. |
Key Market Trends Fueling Growth
The global silicon metal market is experiencing growth due to the rising demand, primarily driven by emerging economies. Companies specializing in efficient and sustainable production methods are attractive investments as stricter environmental regulations take effect. Technological advancements, such as plasma technology, offer potential investment opportunities. Additionally, alternative materials like graphene, with disruptive potential, are worth considering. However, all investments involve risks, and thorough research is essential before making any decisions. The market's expansion is expected to continue due to these investment opportunities.
The Silicon Metal market is witnessing notable trends in various industries. In cosmetics, it's used as a bleaching agent in hair care formulations and skincare creams. In oral hygiene, mouthwashes use silicon metal for its antiseptic properties. In textile manufacturing, it's crucial for fabric processing. Healthcare applications include water treatment and wastewater management. Chemical oxidation is a key use, with silicon metal enhancing hydrogen peroxide's effectiveness. Biological degradability and chemical properties are important considerations. Hair bleaching, oral hygiene, and fabric manufacturing are significant sectors driving demand. Cosmetic producers and textile companies are key buyers. Intense competition persists, with process reforms aiding efficiency. Silicon metal's role extends to the electronics industry and healthcare. Propylene oxide production uses HPPO process, while water treatment applications address effluent color and odor. Supply chain disruptions and health hazards are concerns. Global hydrogen peroxide production impacts silicon metal demand. Diluted solutions and concentrated forms are common forms. Silicon metal's versatility spans industries, from cosmetics to healthcare, textiles, and electronics. Its role in chemical oxidation, water treatment, and bleaching agents is pivotal.
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Market Challenges
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Segment Overview
This silicon metal market report extensively covers market segmentation by
1.1 Metallurgy grade- Metallurgical-grade silicon metal is a high-purity type of silicon metal, with a purity level of around 98-99%. It is a key player in the global silicon metal market, primarily used in the production of aluminum alloys and other metallurgical applications. The increasing demand for aluminum alloys in industries like automotive and aerospace, due to their fuel efficiency and reduced emissions benefits, drives the demand for metallurgical-grade silicon metal. Additionally, this type of silicon metal is used in the production of magnesium and titanium alloys, and in the manufacturing of silicone compounds for industries such as healthcare, personal care, and electronics. The high-purity level of metallurgical-grade silicon metal makes it an essential ingredient in these applications where purity is crucial. Consequently, the metallurgical-grade segment is anticipated to expand in the global silicon metal market during the forecast period.
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Research Analysis
The Silicon Metal Market is significantly influenced by the production of Hydrogen Peroxide, a key chemical used in various industries. Hydrogen Peroxide is produced through the HPPO process using Propylene Oxide as a raw material. However, supply chain disruptions due to raw material availability and production issues can impact the market. Hydrogen Peroxide is used as a bleaching agent in the electronic industry, water treatment, and recyclable pulp production. In concentrated forms, it serves as an effluent color remover and a powerful disinfectant in public areas. Diluted solutions are used as antiseptics for treating skin cuts, bruises, and infections, as a mouth rinse for oral infections, and as a mucus thinner. Hydrogen Peroxide's antiseptic properties make it an essential ingredient in disinfectant products. However, it can pose health hazards such as skin and eye irritation, respiratory problems, and oxygen release in concentrated forms. Global Hydrogen Peroxide production is increasing due to its wide applications, but the market can be affected by odor issues and guidelines for safe handling and disposal.
Market Research Overview
The Silicon Metal Market is significantly influenced by the demand for hydrogen peroxide, a key raw material in its production through the HPPO process. Hydrogen peroxide is used in various industries, including the electronic industry for water treatment, as a bleaching agent in recyclable pulp and paper production, and as a disinfectant in public areas like airports, railway platforms, and commercial buildings. Hydrogen peroxide is also used as an oxidizing agent in disinfectant products, such as sanitizers, mouth rinses, and antiseptics for treating skin cuts, bruises, infections, and oral infections. In the medical sector, it is used as a disinfectant, hygiene product, and dental bleach. In the textiles industry, it is used in the fabric manufacturing process for bleaching and coloring textiles. However, supply chain disruptions due to raw material availability and production issues can impact the silicon metal market. Propylene oxide production, a precursor to hydrogen peroxide, can also affect the market's growth. Health hazards associated with the use of concentrated forms of hydrogen peroxide and its odor are concerns for producers and end-users. The market for silicon metal is diverse, with applications ranging from water treatment and bleaching to medical and cosmetic industries. The intense competition among cosmetic producers and textile companies in the fashion hub further adds to the market dynamics. Process reforms and the shift towards more sustainable and biologically degradable alternatives are also key trends in the market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio