How Has the Silicon metal size Market Evolved Historically and What is its Current Size?
The silicon metal size market has seen considerable growth due to a variety of factors.
• In recent times, the silicon metal size market has seen a robust expansion. It is forecasted to escalate from a size of $7.47 billion in 2024 to $7.89 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.6%.
The historic period's growth is mainly due to factors such as demand from the electronics industry, industrialization patterns, use in the energy sector, worldwide economic conditions, and government legislation and guidelines.
What Is The Projected Growth Of The Silicon metal size Template Market?
The silicon metal size market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for silicon metal is predicted to witness substantial expansion in the upcoming years, reaching $9.65 billion by 2029 with a compound annual growth rate (CAGR) of 5.2%.
The surge in growth during the forecast period is due to a variety of factors including the expansion of renewable energy, urbanization and infrastructure development, initiatives for environmental sustainability, geopolitical influences, and the advancement of consumer electronics. Key trends predicted for the forecast period encompass progress in energy storage, the incorporation of the automotive sector, technological breakthroughs in silicon production, worldwide industrialization and urbanization, and a concentration on high-purity silicon.
What Are The Key Drivers Fueling Growth In The Silicon metal size Market?
The escalating need for electronic vehicles is set to catapult the expansion of the silicon metal size market in the subsequent period. Electronic vehicles operate using an electric motor that is energized by a battery, which can be externally charged. The silicon metal size elevates the energy conservation, defies corrosion, lasts long, and enhances thermal expansion features. These characteristics render electric vehicles with increased battery-centric volume and energy density, thereby raising the demand. For example, Eurostat, a Luxembourg-based Directorate-General of the European Commission, reported in August 2024 that 1.5 million new solely battery-powered passenger cars were enrolled in the EU in 2023, soaring the overall number to 4.5 million. This signifies a 48.5% upsurge from 2022 when the cumulative number was 3.0 million. Thus, the burgeoning requirement for electronic vehicles is fueling the expansion of the silicon metal size market.
What Are The Principal Market Segments In The Global Silicon metal size Industry?
The silicon metal size market covered in this report is segmented –
1) By Production: Metallurgy Grade, Chemical Grade
2) By Application: Aluminum Alloys, Semi-Conductors, Solar Panels, Stainless Steel, Other Applications
Subsegments:
1) By Metallurgy Grade: Silicon Metal 99%, Silicon Metal 98%, Silicon Metal 97%
2) By Chemical Grade: Silicon Metal 99.5%, Silicon Metal 99.9%, Silicon Metal 99.99%
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What Emerging Trends Are Influencing The Growth Of The Silicon metal size Market?
Advancements in technology are an emerging trend in the silicone metal size market. To maintain their edge in the market, businesses in this area are making use of cutting-edge technologies. An illustration of this is when the US-based plastic and chemical producer and synthetic fiber provider Dow, launched the SILASTIC SA 994X Liquid Silicone Rubber (LSR) series in January 2023. The specialty of this selective adhesion liquid silicone rubber is its design specifically for combined injection molding with thermoplastic substrates for a wide range of automotive applications. Not requiring a primer, it's self-adhesive and has a one-to-one mix ratio with general-purpose self-lubricating LSRs. Its strong bonding can develop instantly and offers resistance to heat and moisture. It also has stability for up to 12 months of shelf-life.
Who Are the Key Players In The Silicon metal size Market?
Major companies operating in the silicon metal size market include:
• 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.
• 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.
• Silicon Metal Industries
• The Quartz Corp.
• Globe Metallurgical Inc.
• Siltech Corporation
• Silicon Smelters (Pty) Ltd
• Vesta Si LLC
• Micron Metals Inc.
• Silicon Technology Corporation
What Are The Regional Insights Into The Silicon metal size Market?
Asia-Pacific was the largest region in the silicone metal size market in 2024 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
