Silicon Metal Market is Projected to be Worth US$3.4 Billion by 2024; Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024: TMR

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Jul 13, 2016, 10:30 ET

ALBANY, New York, July 13, 2016 /PRNewswire/ --

The global market for silicon metals 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.

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.

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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.

Browse Research Report with ToC & Free Analysis: http://www.transparencymarketresearch.com/silicon-metal-market.html

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."

Rapid Growth of Building and Construction Sector Boosts Silicon Metal Demand in APAC

The global market for silicon metal comprises North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific dominates the global market by volume and in 2015, the region held a share of over 40%. It will also be the fastest growing regional market for silicon metal, TMR predicts. The demand for silicon metal in the APAC region is anticipated to augment in the coming years owing to optimistic economic growth, the easy availability of raw materials, and cheap labor and power costs. In addition, there has been a surge in government policies directed at increasing the production of domestic energy by using solar panels. This factor also has the potential to spur the demand for silicon metal in Asia Pacific in the coming years. The rapid growth in the building and construction sector in countries such as India and China is also likely to translate into a high demand for silicon metal, further supporting the expansion of the APAC silicon metal market.

North America is anticipated to witness moderate growth in the coming years owing to the medium demand for silicon metal in aluminum alloys. Latin America, on the other hand, is projected to experience considerable growth over the next eight years thanks to the increasing demand for silicone-based defoamers in the food and beverages industry.

Browse In detail Regional Market Research: http://www.europlat.org/global-silicon-metal-market.htm

Silicon Metal Market - Application Analysis

Aluminum Alloys
Silicones/Silanes
Semiconductors
Solar Panels
Others (Including Stainless Steel, Laboratory Reagents, etc.)

Silicon Metal Market - Regional Analysis

North America

U.S.
Rest of North America

Europe

France
U.K.
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
ASEAN
Rest of Asia Pacific

Latin America

Brazil
Rest of Latin America

Middle East & Africa (MEA)

GCC
South Africa
Rest of MEA

Browse Other Research Report:

Recycled Metal Market: http://www.transparencymarketresearch.com/metal-recycling-market.html
Aluminum Alloys Market: http://www.transparencymarketresearch.com/aluminum-alloys-market.html

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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