The global silicon metal market is highly
consolidated and is led by a handful of multinational companies.
Transparency Market Research finds that this has compelled players to
focus on product differentiation as well as supply chain integration
in order to survive this challenging vendor landscape. “An
increasing number of manufacturers today have silicon metal
manufacturing assets, quart mining units, and even produce downstream
products so as to establish a strong foothold in the silicon metal
market,” a lead analyst at TMR states.
Dow Corning Corporation, for instance, has been
successfully performing mergers and acquisitions in the silicon metal
market to establish an integrated and low-cost-intensive supply
chain. Over the years, the company has acquired the silicon
manufacturing assets of different companies and this has enabled it
to not only provide efficiency and stability to its business
operations but also integrate these operations.
This 136 page report gives readers a comprehensive
overview of the Silicon Metal market. Browse through 48 data tables
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Another excellent example would be Wynca Group, whose
strong technical support network and research and development
activities through the Organic Research Institute has helped the
company develop newer applications of silicon in the downstream
segment.
Players Hope to Overcome High Cost of Production
with Support from Government
The global solar industry has been witnessing immense
emphasis in recent years owing to the rising focus on the development
of viable renewable energy sources. Supported by numerous government
regulations and initiatives, this has resulted in the soaring demand
for and implementation of solar panels across various industries.
This, in turn, has driven the demand for silicon metal. Solar panels
form one of the most important applications of silicon metal and a
boost in the solar energy industry translates to a boost in the
silicon metal market as well. The growing application of aluminum
alloys in transportation is also projected to continue driving the
demand for silicon metals.
On the other hand, the high cost of production is a
key challenge for most players in the market. “The cost of
production of silicon metal is dependent on important variables such
as the cost of raw materials, labor, power, and transportation,”
the TMR analyst explains. “A spike in any of these variables
results in the increase in the silicon metal cost of production.”
In addition to this, market volatility is anticipated to hamper the
growth of the silicon metal market in the coming years.
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Silicon Metal market. Request a sample to stay abreast on the key
trends impacting this market@
Modest Growth in Store by Value and Volume
The volume demand for silicon metal, as per TMR, is
poised to surge at a 4.3% CAGR from 2016 to 2024. On the basis of
revenue, however, the market is anticipated to register a slightly
faster pace during the forecast period, at a 5.2% CAGR. The value of
the silicon metal market is projected to rise from US$2.2 bn in 2015
to US$3.4 bn by 2024. Asia Pacific is the largest market for silicon
metal and is forecast to account for a share of over 45% by 2024.
This review is based on the findings of a TMR report
titled “Silicon Metal Market: Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2016-2024.”
Silicon Metal Market – Application Analysis
- Aluminum Alloys
- Silicones/Silanes
- Semiconductors
- Solar Panels
- Others (Including Stainless Steel, Laboratory Reagents, etc.)
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