The Global Consumption of Silicon and Ferrosilicon is Projected to Reach 15.2 Million Metric Tons by 2024

Sustained Demand from Major End-Use Industries Continues to Drive Consumption of Silicon and Ferrosilicon, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Silicon and Ferrosilicon market. The global consumption of Silicon and Ferrosilicon is projected to reach 15.2 million metric tons by 2024, driven by the increasing use of silicon in the production of aluminum alloys, and growing demand for ferrosilicon from leading end-use applications such as ferrous foundries, steel and magnesium.

Silicon and ferrosilicon are similar in physical terms and are also produced using a similar process. However the two materials vary significantly in terms of their applications. While silicon finds widespread use in manufacturing aluminum alloys, semiconductors, polysilicon and silicones, ferrosilicon is predominantly utilized in the production processes of iron and steel industries. Growth in the silicon and ferrosilicon market is therefore dictated by the health of major end-use industries. There are also significant differences seen in the global consumption trends associated with silicon and ferrosilicon, due mainly to the varied end-use markets driving demand for the alloys.

Silicon is one of the most important inorganic materials used in a range of end-use industries. Growing GDP rates, rising disposable income levels, recovery in the economic conditions, and rapid rates of urbanization and westernization in developing countries are driving demand for silicon-based products from various end-use industries. A significant factor driving growth in the global silicon market is the rising consumption of silicon in the aluminum industry, in the form of an alloying agent. As the use of aluminum in automotive industry, structural engineering applications and aircraft manufacturing sector continues to grow, there is rising demand for silicon in manufacturing aluminum alloys for leveraging the advantages of silicon’s lightweight and corrosion resistance features. Polysilicon or polycrystalline silicon, which finds use in solar applications, is among the fastest growing end-use markets for silicon. Semiconductor manufacturing represents another major end-use market for silicon, growing demand for electronics and the ever-rising demand for technologically advanced gadgets and electronic devices fueling silicon consumption.

Ferrosilicon, a ferroalloy of silica and iron, finds use in a range of applications including silicon and cast iron, other ferroalloys and to produce semiconductor pure silicon. Ferrosilicon is mainly used in the production of steel, magnesium and iron castings industries. The consumption of ferrosilicon will be driven by its use as an inoculant in the casting industry and deoxidizer in the steel industry. Growing need for deoxidization of various ferrous alloys in steel manufacturing process, as well as in the processing industry is expected to favor growth in the FeSi market. On the other hand, the numerous advantages of inoculants, including reduced dross formation, less facing tendency and less susceptibility to shrinkage formation, are contributing to their high demand in the production of gray and ductile iron.

As stated by the new market research report on Silicon and Ferrosilicon, Asia-Pacific represents the largest regional market, worldwide. Asia-Pacific is also forecast to register the fastest CAGR of 6.9% over the analysis period, driven by favorable economic scenario, abundance of raw materials, and relatively low cost of power and labor. The high growth being seen in major end-use markets of electronics, construction, and steel industries across the region also presents positive outlook for the silicon and ferrosilicon market. China represents the leading producer and consumer of silicon and ferrosilicon.

Major players in the market include AMG Advanced Metallurgical Group N.V., China National sBlueStar (Group) Co. Ltd., Elkem AS, DowDuPont Inc., Hemlock Semiconductor Corporation, Evonik Industries AG, Ferroglobe PLC, Mitsubishi Materials Corporation, OSAKA Titanium Technologies Co. Ltd., REC Silicon ASA, Simcoa (Silicon Metal Company of Australia) Operations Pty Ltd., Shin-Etsu Chemical Co. Ltd., Sumco Corporation, The Rima Group, Tokuyama Corporation, and Wacker Chemie AG, among others.

The research report titled “Silicon and Ferrosilicon: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East & Africa and Latin America. Silicon market is analyzed by the End-Use Industry – Metallurgy, Chemical, Semiconductor, and Others. Ferrosilicon market is analyzed by End-Use Industry - Ferrous Foundry, Steel and Others.

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