Silicon Metal Powder Market Size, Share, Growth, and Industry Growth, By Type (Metallurgical Chemical Grade Silicon Metal Powder, Grade Silicon Metal Powder, And Others), By Application (Refractories and Powder Metallurgy, Metallurgical Foundry, Organic Silicon Chemical, High-Tech, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Silicon Metal Powder Market REPORT OVERVIEW

• 
• Request a Free sample to learn more about this report

The global silicon metal powder market size was USD 1019.4 million in 2021 and market is projected to touch USD 1412.38 million by 2031, at a CAGR of 3.3% during the forecast period.

Silicon metal powder is made of silicon lumps by sieving, washing, crushing, and other processes. It is also known as industrial silicon powder. It is also known as Si powder as Si is the chemical name of silicon. It has various processes of sieving and crushing the Si powders for adapting various applications of silicon powder. It is widely used in high-tech industries as a raw material. It is used as a main raw material for polysilicon and is also used in powder metallurgy and refractory industry to improve the high-temperature resistance, oxidation resistance, and wear resistance of the products. 

It can be defined as a refined silica version by decreasing the quartz thermally. It is widely used in the commercial and industrial sectors. The demand for products is forecasted to boost owing to the rising concentration of aerospace and defense. The product demand is increasing in the semiconductor industry. The demand for competitive production technologies is expanding in the global market. Product usage in electronic devices is anticipated to be the major growth factor. It works as an alloying agent and strengthener. Thus, the adoption of the product is increasing in the global market.  

COVID-19 Impact: Shut Down Of Construction Activities Retarded Market Growth

Every market was affected by the epidemic, which had a long-lasting impact on its expansion. The rapid pandemic epidemic had an impact on the market in a number of ways, including by impeding demand, manufacturing, and shipping. In the global market, there have been significant upheavals. The market experienced a decline in manufacturing, supply, and demand. Due to decreased production and supply of the product, the chemicals sector also saw a decline in growth. The market's growth rate was impacted by the market's slow demand-supply balance. The construction activities were put on hold, which affected the growth rate of the market. 

LATEST TRENDS

"Product Usage as a Semiconductor in Electrical Devices to Drive Growth"

The market has grown as a result of the increasing demand for the product from semiconductor applications. Under specific conditions, silicon metal conducts electricity; otherwise, it behaves as an insulator. It has a wide range of applications as a semiconductor in PCBs, ICs, transistors, and other electrical devices because it can deliver the proper conductive efficiency at specified specifications. It is the building block for so many products, and both the industrial and consumer sectors are largely dependent on it. Most of the silicon metal powder produced is used to create aluminum alloys, which accounts for major silicon metal powder market growth. 

Silicon Metal Powder Market Segmentation

• 
• Request a Free sample to learn more about this report

• By Type Analysis

By type, the market is segmented into metallurgical chemical grade silicon metal powder, grade silicon metal powder, and others.

• By Application Analysis

Based on application, the market is classified into refractories and powder metallurgy, metallurgical foundry, organic silicon chemical, high-tech, and others. 

DRIVING FACTORS

"Various Product Benefits to Surge the Market Growth"

Products for the automotive and aerospace industries both use aluminum alloys. The alloy's strength, cast ability, and brittleness are all improved by the inclusion of silicon, allowing for a wider range of applications. The growing semiconductor and solar industries will also fuel market value expansion. Under controlled circumstances, silicon metal is an excellent insulator and provides the required conductivity efficiency. Defense and aerospace elastomers business owners and other industry professionals are focusing more on advancing the technologies made feasible by adding silicon metal, which is driving the market's expansion. 

"Rising Demand for Products from Various Industries to Aid Market Growth"

The silicon metal powder is used in steelmaking, ceramics, electronics, and various chemical applications. The wide use of chemicals in industries is increasing the demand for the product. The use of the product in the production of silicon’s and other such materials is increasing the market growth. Aluminum alloys for automobiles are often produced using silicon metal and silicon metal powder as raw material. The formation of new businesses will be further impacted by the push toward lightweight aircraft, which is what is fueling the market for silicon metal powder. The development of the building and construction sector is also anticipated to support growth. The use of the product in the metallurgical foundry, high-tech industries, and organic silicon chemical is most likely to foster product demand in the market.

RESTRAINING FACTORS

"Fluctuation in Raw Materials Availability to Impede the Market Growth"

The variation in the availability of raw materials is forecasted to retard the silicon metal powder market growth. Additionally, the higher cost of the products and their installation is resisting the small-sized industries from adopting the product. Fluctuation in economic strategies may challenge growth. Moreover, the price of raw materials is rising, which may impede growth in the market. 

Silicon Metal Powder Market REGIONAL INSIGHTS

• 
• Request a Free sample to learn more about this report 

"Asia Pacific to Lead the Market Due to Higher Product Consumption "

Asia Pacific is forecasted to lead the global market owing to the largest consumption from emerging countries such as India, China, and Japan. China is projected to be responsible for the region’s growth due to the presence of major key players. 

North America is expected to hold a significant part of the silicon metal powder market share due to the increasing popularity of electric vehicles and the rising demand for silicon metal. 

Europe is anticipated to show sizable growth due to the expanding applications of solar energy in the region.

KEY INDUSTRY PLAYERS

"Key Companies Emphasize On R&D to Launch New Products"

The market is made of various sized companies. The global market players are adopting organic and inorganic strategies to consistently grow in the global market. The key companies are also focused on expanding their product portfolio by launching advanced products in the market. The competitors are likely to target the solar industry to enhance its sales. The competitors emphasized on research and development of the chemical to launch other advanced products. The manufacturers are focused on increasing the sustainability and cost of the product. The key competitors are striving for various growth strategies to gain market share. 

List of Market Players Profiled

• H.C. Starck (Germany)
• Elkem (Norway)
• Zhejiang Kaihua Yuantong Silicon (China)
• Neoplant (France)
• Micron Metals (U.S.)
• Zhongcheng Silicon (China)
• Minhang Silicon (China)
• Dadi Zelin Silicon (China)
• Yinfeng Silicon Products (China)
• Pengcheng Guangfu (China)
• Zhong Yu Jin Ming Silicon (China)
• Mingrui Siliocon (China)
• ABSCO (U.K.)
• RW silicium (Germany)
• VestaSi (Denmark)
• S+A Blackwell (U.K.)
• Sanhui Naihuo (China)
• CNPC Powder (China)
• Anyang Yuda Silicon
• Yafei Alloy (England)
• Jiuzhou Silicon (China)
• BAIDAO (China)

REPORT COVERAGE

The report offers accurate information about the market insights. It represents an analysis of a competitive edge that seems significant for the formation of business plans. The report defines various paths for the growth and development of the industry. Market segmentation is depicted in the report and highlights the important factors of the sector with various growth opportunities, competitive landscape, and growth strategies of the major key players. The market report focuses on various growth prospects and the factors that may limit the growth of the market. Additionally, this market report represents the key players of the market and their headquarters. The report offers a deep insight into the market.