Global Silicon Metal Market - Investment Opportunities in APAC to Boost Growth | Technavio

The global silicon metal market is expected to grow at a CAGR of over 5% during the period 2017-2021, according to a new market research study by Technavio.

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The report categorizes the global silicon metal market by application, which includes aluminum alloys, silicones and silanes, solar panels, and semiconductors. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: increase in the demand for aluminum-silicon alloys

Aluminum-silicon alloys have witnessed a significant increase in the demand from the automotive and transport industries. These alloys are popular because of their ability to exhibit a unique combination of desirable characteristics, such as casting into complex shapes in combination with a favorable strength-to-weight ratio.

According to Ajay Adikhari, a lead analyst at Technavio for bio-chemicals and bio-materials research, “Aluminum-silicon alloys are primarily used as castings. In addition, they are used for making sheets and wires for welding and brazing. Silicon is the key alloying element as it imparts high fluidity and low shrinkage, resulting in good casting ability and weldability properties. The low thermal expansion coefficient is used in pistons, while and the high hardness of the silicon particles is incorporated for wear resistance.”

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Market trend: investment opportunities in APAC

Investors are encouraged by the growth prospects in the solar power industry in APAC. The region is expected to benefit from the rapidly declining price of solar panels. The strong economic growth and undeveloped infrastructure in the remote areas of APAC, along with abundant sunshine is leading to the growth of the renewable energy sector. The significant drop in the cost of solar energy technologies attracts businesses and governments to invest in renewable energy, which augurs well for the growth of the silicon metal market.

Market challenge: criticality regarding the selection of carbon electrodes

Carbon electrodes play a key role in submerged arc furnaces during the production processes of silicon metal. The process consists of the continuous reduction of quartz into silicon by a reducing mixture, a part of which comprises carbon in the form of mineral carbon, charcoal, petroleum coke, and wood-chips. The choice and proportions of these materials might vary, depending on the availability and cost.

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Key vendors in the market:

• Ferroglobe
• MINASLIGAS
• Wacker Chemie
• Zhejiang kaihua Yuantong Silicon Industry

The key players in the global silicon metal market compete based on technology, trait leadership, price, quality, and cost. The market consists of numerous global and regional players. The key players have a vast geographical presence with numerous production facilities. There are a few regional vendors with a considerable amount of market share. The growth of the silicon metal market can be attributed majorly to the increase in the demand for aluminum-silicon alloys, diverse applications of silicones, and increased use of polycrystalline silicon.

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