Silicon Oxide (Siox) Precursor Market Size, Share, Growth, And Industry Analysis, By Type (Bulk Type, Powder Type) By Application (Anode Materials, Coating Materials, Others) and Regional Forecast By 2031

Updated On: 22 April 2024

Silicon Oxide (Siox) Precursor Market Report Overview

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The global silicon oxide (SiOx) precursor market size was USD 104.2 million in 2022, as per our research, the market is expected to reach USD 7410.49 million by 2031, exhibiting a CAGR of 60.6% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre- pandemic levels once the pandemic is over. 

Silicon Oxide (SiOx) precursors are chemical compounds used in the production of thin film coatings with a range of desirable physical and chemical properties. SiOx is a versatile material with a wide range of applications in various industries, including electronics, medical, and energy. SiOx precursor is typically made from a mixture of silicon sources such as silane, tetramethylsilane, and tetraethyl orthosilicate. The precursor is then deposited on a substrate using various techniques such as chemical vapor deposition (CVD), atomic layer deposition (ALD), and plasma-enhanced chemical vapor deposition (PECVD). The precursor then undergoes a reaction process to form a SiOx thin film coating on the substrate. One of the most significant advantages of SiOx precursors is their ability to form high-quality, uniform coatings with excellent optical and electrical properties. SiOx coatings have high transparency in the visible range, making them ideal for use in optical applications such as anti-reflection coatings, optical filters, and waveguides.

The silicon oxide (SiOx) precursor market is a growing market with a high potential for growth in the upcoming years. Silicon oxide precursor is used in various applications such as coating, encapsulation, and printing in the electronic industry. The market is expected to witness a significant increase in demand due to the growing use of SiOx precursors in the development of next-generation electronic devices such as flexible displays, organic light-emitting diodes (OLEDs), and solar cells.

COVID-19 Impact: Lockdown Caused Shortage of Raw Materials and Delayed Shipments of Finished Products Hampering the Market Growth

The COVID-19 pandemic has had a significant impact on the silicon oxide precursor market. The pandemic has disrupted the supply chain and manufacturing operations, leading to a shortage of raw materials and delayed shipments of finished products. The market witnessed a decline in demand due to the lockdowns and restrictions on trade and travel imposed by various countries. The pandemic has also affected the demand for electronic devices, resulting in a decrease in the demand for SiOx precursors. However, the market is expected to recover in the post-pandemic period as the demand for electronic devices and medical applications is expected to increase.

Latest Trends

"Increasing Use of SiOx Precursors in The Development of Flexible Displays, OLEDS, And Solar Cells"

The silicon oxide precursor market is witnessing various trends that are expected to shape the future of the market. One of the significant trends in the market is the increasing use of SiOx precursors in the development of flexible displays, OLEDs, and solar cells. The demand for flexible displays is increasing due to the growing adoption of wearable devices and foldable smartphones. The use of SiOx precursors in the encapsulation of OLEDs is also expected to drive the growth of the market. Additionally, the increasing adoption of solar energy is expected to increase the demand for SiOx precursors used in the production of solar cells.

Silicon Oxide (Siox) Precursor Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into bulk type, powder type. Bulk Type being the leading segment of the market by type analysis.

• By Application Analysis

Based on application, the market can be divided into anode materials, coating materials, others. Anode materials being the leading segment of the market by application analysis.

Driving Factors

"Growing Demand from The Electronic Industry to Drive the Market Growth"

The electronic industry is one of the major end-users of SiOx precursors due to the increasing demand for electronic devices such as smartphones, tablets, and laptops. The SiOx precursor market is expected to benefit from the growing trend of miniaturization in the electronic industry, which requires the use of thinner films with high dielectric strength. SiOx precursors are used to deposit these films, making them an essential component in the manufacture of electronic devices. Additionally, the development of next-generation electronic devices such as flexible displays, OLEDs, and solar cells is expected to increase the demand for SiOx precursors. These technologies require specialized SiOx precursor materials that are highly transparent and have specific optical properties.

"Increasing Demand from The Medical Industry to Drive the Market Development"

The medical industry is another significant end-user of SiOx precursors, especially in drug delivery, tissue engineering, and other medical applications. SiOx precursors are used to coat medical implants, create drug delivery systems, and enhance the bioactivity of medical devices. SiOx precursor coatings have been shown to improve the performance of implants and reduce the risk of infection. In drug delivery, SiOx precursors are used to create nanoparticles that can encapsulate and deliver drugs to specific targets in the body, enhancing their efficacy and reducing side effects. The increasing demand for SiOx precursors in the medical industry is driven by the growing need for advanced drug delivery systems and tissue engineering technologies, which require highly specialized and biocompatible materials.

Restraining Factors

"Availability Of Raw Materials to Impede the Market Development"

The production of SiOx precursors requires high-purity silicon and other raw materials, which are limited in availability. Silicon is the primary raw material used to produce SiOx precursors, and its availability is affected by the fluctuation of silicon prices in the global market. Additionally, the increasing demand for silicon in other industries such as solar energy and electronics is putting pressure on the supply of silicon, leading to shortages and higher prices. The shortage of raw materials is expected to affect the production of SiOx precursors, leading to an increase in the cost of production, which may reduce the demand for SiOx precursors in the market. Additionally, the presence of substitutes such as aluminum oxide and titanium oxide is also expected to pose a challenge to the growth of the SiOx precursor market, especially if they are more cost-effective.

Silicon Oxide (Siox) Precursor Market Regional Insights

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"Increasing Demand from The Electronic and Medical Industries in North America to Bolster the Market Growth"

The North American SiOx precursor market is expected to witness significant growth due to the increasing demand from the electronic and medical industries. The region is home to some of the leading manufacturers of electronic devices and medical equipment, and this is expected to boost the demand for SiOx precursors in the region. Additionally, the presence of established healthcare systems and research facilities is driving the development of advanced medical technologies, which require the use of SiOx precursors. The development of next-generation electronic devices and the increasing adoption of advanced drug delivery systems are driving the growth of the market in the region.

The Asia Pacific SiOx precursor market is expected to grow at the highest rate due to the increasing demand from the electronic and medical industries in countries such as China, Japan, and South Korea. The region is home to some of the world's largest manufacturers of electronic devices and medical equipment, and this is expected to boost the demand for SiOx precursors in the region. Additionally, the growing population and increasing healthcare expenditure in the region are driving the demand for advanced medical technologies, which require the use of SiOx precursors.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players ProfiledPlayers

• Hengshui Chaofan (China)
• XINTE (China)
• IAmetal (South Korea)
• Juhuang Keji (China)
• Wuqiang Guangdian (China)
• Guangde Advanced Optoelectronic Material Corporation (China)
• Luoyang Lianchuang lithium energy technology Co (China)
• BTR (South Korea)
• Daejoo Electronic (South Korea)
• Tera Technos (Posco Chemical) (South Korea)
• Kingi Technology (Taiwan)
• OSAKA Titanium Technologies (Japan)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.