According to a new market report published by Lucintel, the future of the silicon market looks promising with opportunities in the stainless steel, aluminum alloys, silicone, and semiconductor manufacturing industries. The global silicon market is expected to grow with a CAGR of 5% to 7% from 2023 to 2028. The major growth drivers for this market are increasing demand from end user industries, such as semiconductor and energy for the manufacturing of chips to be used in photovoltaic cells and computers.
In this market, ferrosilicon and silicon metal are used in several applications such as steel, aluminum alloys, silicone, semiconductors, and others. Most of the silicon is refined as ferrosilicon and is used in iron and steel making.
Within this market, aluminum alloy is expected to remain the largest segment as it is widely adopted in the automotive industry to develop light-weight components as it ensures improved corrosion resistance and lower wear rate.
Asia Pacific is expected to remain the largest region over the forecast period due to increase in demand from various end user industries like automotive and semiconductor in India, China, and Japan.
Ferroglobe, Dow, Mississippi Silicon, Siltronix Silicon Technologies, Silicon Metal Industries, Rima Industrial, Wacker Chemie, Shin-Etsu Chemical, and Elkem are the major suppliers in silicon market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global silicon market by product type, end-user, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Silicon Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global silicon market by product type, end-user, and region as follows:
By Product Type [Value ($M) Shipment Analysis from 2017 to 2028]:
· Ferrosilicon
· Silicon Metal
By Application [Value ($M) Shipment Analysis from 2017 to 2028]:
· Steel
· Aluminum Alloys
· Silicones
· Semiconductors
· Others
By Grade [Value ($M) Shipment Analysis from 2017 to 2028]:
· Metallurgy Grade
· Chemical Grade
By Region [Value ($M) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Silicon Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the silicon market by product type (ferrosilicon and silicon metal), application (steel, aluminum alloys, silicone, semiconductors, and others), grade (metallurgy grade and chemical grade), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?