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Sep 26, 2023

Global Silicon Metal Market Size to Reach USD 11.26 Billion in 2032

The global silicon metal market size was USD 6.78 Billion in 2022 and is

The global silicon metal market size was USD 6.78 Billion in 2022 and is expected to register a revenue CAGR of 5.8% over the forecast period, according to the latest report by Reports and Data.

The need for lighter, more fuel-efficient vehicles is increasing, driving the automotive industry to develop. This need is expected to boost the usage of aluminum alloys in the automotive sector, which will increase demand for silicon metal.

The fast rate of urbanization and industrialization in emerging economies is driving up demand for silicon metal in building and infrastructure development projects. Silicone, which is used as a sealant, glue, and insulator in building applications, requires silicon metal for its creation. The expansion of infrastructure and construction projects, particularly in developing nations such as China and India, is expected to increase the demand for silicon metal.

The market for silicon metal is also anticipated to be fueled by the expanding need for photovoltaic solar panels. As more people switch to renewable energy sources, there is an increasing need for photovoltaic solar panels, which are made with silicon as a key component. Government encouragement for the use of renewable energy sources is anticipated to increase demand for photovoltaic solar panels, which will also increase demand for silicon metal. Another factor supporting the silicon metal market is the expanding usage of silicon metal in the chemical sector.

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Some of the prominent players profiled in the global silicon metal market include Elkem AS, Globe Specialty Metals, Inc., Wacker Chemie AG, Dow Corning Corporation, Silicon Metal Industries, China National Bluestar (Group) Co., Ltd., Zhongwei Tianze Metallurgical Development Co., Ltd., H.C. Starck GmbH, RIMA Group, and Metallurgical Corporation of China Ltd.

Some Key Highlights from the Report

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For the purpose of this report, Reports and Data has segmented the global silicon metal market on the basis of Product Form Outlook, Application Outlook, and Regional Outlook:

Product Form Outlook (Revenue, USD Billion; 2022 – 2032)

Application Outlook (Revenue, USD Billion; 2022 – 2032)

Regional Outlook (Revenue, USD Billion; 2022-2032)

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