Overview and Scope
Silicon metal size refers to a grey metal, metallically glossy metalloid element in its pure form. It is a semi-conductive metal that is grey and glossy and is used to make steel, solar cells, and microchips. Silicon of the metallurgical grade is also known as silicon metal due to its gleaming appearance.
Sizing and Forecast
The silicon metal size market size has grown rapidly in recent years. It will grow from $21.21 billion in 2023 to $24.8 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to demand from electronics industry, industrialization trends, energy sector utilization:, global economic conditions, government policies and regulations:.
The silicon metal size market size is expected to see rapidly grown in the next few years. It will grow to $43.47 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to renewable energy growth, urbanization and infrastructure development, environmental sustainability initiatives, geopolitical factors, consumer electronics evolution. Major trends in the forecast period include advancements in energy storage, automotive sector integration, technological innovations in silicon production, global industrialization and urbanization, focus on high-purity silicon.
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Segmentation & Regional Insights
The silicon metal size market covered in this report is segmented –
1) By Production: Metallurgy Grade, Chemical Grade
2) By Application: Aluminium Alloys, Semi-Conductors, Solar Panels, Stainless Steel, Other Applications
Asia-Pacific was the largest region in the silicone metal size market in 2023 and is expected to be the fastest-growing region in the silicon metal size market report during the forecast period. The regions covered in the silicon metal size market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for electronic vehicles is expected to propel the growth of the silicon metal size market going forward. An electronic vehicle is driven by an electric motor powered by a battery that can be charged externally. The silicon metal size ensures energy efficiency, resistance to corrosion, durability, and thermal expansion characteristics, which helps electric vehicles gain more battery-specific volume and energy density, thus boosting the demand. For instance, in May 2022, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, sales of electric cars (including fully electric and plug-in hybrids) doubled in 2021 to set a new record of 6.6 million, and a number of the electric cars on the world’s roads by the end of 2021 was about 16.5 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increasing demand for electronic vehicles is driving the growth of the silicon metal size market.
Key Industry Players
Major companies operating in the silicon metal size market report are Ferroglobe plc, DuPont de Nemours Inc., Elkem ASA, Wacker Chemie AG, Hoshine Silicon Industry, Shin-Etsu Chemical Co. Ltd., Anyang Wanhua Metal Material Co. Ltd., United Co RUSAL International PJSC, Library and Information Association of South Africa, Mississippi Silicon LLC, Henan Aloy New Material Co. Ltd., Rima Group, Zhejiang Kaihua Huantong Silicon Industry, Infineon Technologies AG, ST Microelectronics NV, Fuji Electric Co. Ltd., PCC SE, Simcoa Operations Pty. Ltd., China National BlueStar (Group) Co. Ltd., RW Silicium GmbH, Minasligas SA, Globe Specialty Metals Inc., FerroPem SASU, Silicon Metal Industries, The Quartz Corp., Globe Metallurgical Inc., Siltech Corporation, Silicon Smelters (Pty) Ltd, Vesta Si LLC, Micron Metals Inc., Silicon Technology Corporation .
The silicon metal size market report table of contents includes:
1. Executive Summary
2. Silicon metal size Market Characteristics
3. Silicon metal size Market Trends And Strategies
4. Silicon metal size Market – Macro Economic Scenario
5. Global Silicon metal size Market Size and Growth
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31. Global Silicon metal size Market Competitive Benchmarking
32. Global Silicon metal size Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Silicon metal size Market
34. Silicon metal size Market Future Outlook and Potential Analysis
35. Appendix
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