Silicon Metal Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Silicon Metal Market Analysis:

By the end of this year, the global silicon metal market is expected to exceed 2,900 kilotons and maintain a compound annual growth rate of over 5% throughout the forecasted period. The Covid-19 pandemic posed a significant challenge to the market, with manufacturers’ supply chains being directly impacted worldwide, and production facilities shutting down to minimize the risk of virus spread.

The increasing demand for electric vehicles and rising automobile production globally is expected to drive the consumption of silicon metals, particularly aluminum-silicon alloys. Additionally, the growing usage of electronic gadgets such as smart cellular phones, laptops, and tablets is expected to fuel the silicon metal market’s growth. However, the market’s growth may be hindered by lower silicon production in China. Nonetheless, potential growth opportunities are projected to arise throughout the forecast period as measures to reduce production costs by improving current technologies are implemented. The Asia-Pacific region currently holds the highest market share and is expected to dominate the market during the forecast period.

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