silicon metal market Will Generate Massive Revenue In Future – A Comprehensive Study On Key Players
The silicon metal market has seen vast demand in the steelmaking and
iron industry due to vast consumption of ferrosilicon. Substantial uptake of
ferrosilicon in steel smelting is the one of them most prominent revenue
generators in the silicon metal market. Advent of new methods of metallurgical
grade silicon has helped in the production of higher quality products for end
users in the silicon metal market. Revenues come from a range of applications,
notably in making silicon chips, solar cells, and aluminum alloys. Over the past
few years, rising consumptions of silicon metal in paints and coatings
industries has helped propel growth of the market. The automotive manufacturing
industry has harnessed the attractive mechanical and physical properties of
silicon metal such as structural durability and dimensional stability.
Widespread application of silicon-based aluminum alloys boosts the silicon
metal market. In recent years, the market has seen new growth avenues from the
demand for heat and corrosion resistant ferrous silicon alloys.
The silicon metal market stood at US$ 6.53 bn in 2018 and is projected
to clock a CAGR of more than 4.98% from 2019 to 2027.
Request For Sample : https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12845
Growth of Automotive Sector Primarily Influential in Market’s
Development
Silicon-based aluminum alloys are being increasing employed in
automotive applications due to the need to reduce weight to decrease fuel
consumption. Silicon and aluminum are alloyed together to form silumin.
Depending on silicon content, the aluminum-silicon alloys are classified into
different grades. In terms of volume, silicon content in silicon metal alloys
varies from 3% to 50%. Addition of silicon metal to aluminum creates favorable
properties such as high thermal conductivity, good castability, high corrosion
resistance, and machinability. Silicon-based aluminum alloys are increasingly
employed to replace heavy cast iron and steel components in the automotive
industry. Increase in silicon content in aluminum silicon alloys improves
wear-resistance in mild wear conditions. Silicon-based aluminum alloys have
sufficient strength for structural durability, stability, and dent and crash
resistance. Formability for bending, stretching, and deep drawing operations is
increases. Moreover, growth of the automotive sector is projected to
drive the silicon metal market during the forecast period. The automotive
industry is a major consumers of silicon-based aluminum alloys. This, in turn,
boosts the demand for silicon metal and aluminum in the automotive sector.
Thus, increasing demand for automobiles and growing automotive sector are
likely to augment the silicon metal market in the near future.
Request for Customization: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=12845
Fluctuating Raw Material Cost May
Impeded Market Growth
The production cost of silicon metal depends on key variables such as
cost of power, raw materials, labor, and transportation. The silicon metal
producing industry requires long-term supply of stable power, as the production
process consists ignition of an electric arc which is necessary for the
reduction of quartz in silicon metal. The requirement of high temperature and
high power makes the production process energy intensive, this significantly
increases the overall production costs. Charcoal, quartzite, and wood chips are
raw materials employed in the production of silicon metal and hence, silicon
metal manufacturers prefer physiographic regions with significant deposits of
quartz and charcoal. Thus, high production cost and market volatility are
projected to hamper the silicon metal market.
Based on region, the global silicon metal market has been divided into
North America, Latin America, Europe, Asia Pacific, and Middle East &
Africa. Asia Pacific dominated the global market in 2018, as the region is an
automotive and industrial hub. Moreover, the market in Asia Pacific is
anticipated to expand at a significant pace during the forecast period due to
the rise in demand for automobiles, portable electronics, and solar panels in
the region, especially in developing countries such as China and India.
Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=12845
Key players operating in the global silicon metal market include The Dow
Chemical Company, Elkem ASA, RUSAL, Ferroglobe, Wacker Chemie AG, RIMA Group,
Simcoa Operations Pty Ltd, RW Silicium GmbH, MINASLIGAS, and Wynca Group.
About Transparency
Market Research
Transparency Market
Research, a global market research company registered at Wilmington,
Delaware, United States, provides custom research and consulting services. The firm scrutinizes
factors shaping the dynamics of demand in various markets. The insights and
perspectives on the markets evaluate opportunities in various segments. The
opportunities in the segments based on source, application, demographics, sales
channel, and end-use are analysed, which will determine growth in the markets
over the next decade.
Our exclusive blend of
quantitative forecasting and trends analysis provides forward-looking insights
for thousands of decision-makers, made possible by experienced teams of
Analysts, Researchers, and Consultants. The proprietary data sources and
various tools & techniques we use always reflect the latest trends and
information. With a broad research and analysis capability, Transparency Market
Research employs rigorous primary and secondary research techniques in all of
its business reports.
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website:https://www.transparencymarketresearch.com
Comments
Post a Comment