We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image
  • Published On : Jun 2022
  • Code : CMI5051
  • Pages :130
  • Formats :
      Excel and PDF
  • Industry : Advanced Materials

The silicon metal is manufactured using quartzite, a naturally occurring mineral that contains silicon dioxide. In the manufacturing process, quartzite is heated at around 2000°C in electric submerged arc furnaces. Quartzite is also mined from a nearby quarry. The resulting silicon metal is known as MicroSilica or silica slag. A wide range of applications for silicon metal are possible, and its properties make it a useful commodity in manufacturing. Silicon metal is an excellent insulator, providing the appropriate conductive efficiency under controlled specifications. It is used in semiconductors, solar panels, PCBs, transistors, and other electrical products

Market Statistics:

The global Silicon Metal market was valued at US$ 6.1 Bn in 2020 and is forecast to reach a value of US$ 8.2 Bn by 2028 at a CAGR of 4.4% between 2021 and 2028.

North America held dominant position in the global Silicon Metal market in 2020, accounting for 42.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Silicon Metal Market Volume Share (%), By Region, 2021


To learn more about this report, request a free sample copy

Recent Developments:

  1. In December 2021 Elkem has been awarded NOK 16 Billion by the Norwegian Research Council to create a new silicon manufacturing model that eliminates all direct CO2 emissions. For the worldwide silicon industry, this may be a game-changer. The company may possibly sell the technology to other companies, allowing silicon to be produced with minimum climatic and environmental impact throughout the world.
  2. In April 2020, the previously announced purchase of Polysil, a prominent Chinese silicone elastomer and resins material company, by Elkem ASA, has finally been completed. Polysil is a worldwide leader in infant care and food-grade silicones, as well as silicone products for electronics and medical applications. The complementary product and market positions of Polysil and Elkem provide a solid foundation for future specialization and expansion in China and globally.

Market Drivers:

Growing demand for silicon from solar industry is a prime factor driving growth of the silicon metal market. Silicon is one of the common semiconductor material widely used in solar cells and it account for around 95% of all modules marketed today. The cell made up of silicon offer high efficiency, are low cost, and have extended lifetime. The market is also expected to witness growth on the account of increasing demand for renewables source of energy worldwide.

Increasing demand from automotive industry is again expected to foster growth of the silicon metal market. Due to its corrosion resistance, low wear rates, and low thermal expansion, aluminum-silicon alloy are increasingly used in automobile production. Automaker are focussing on lowering the weight of automobiles, to reduce fuel consumption which is creating high demand for silicon metals.

Silicon Metal Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 6.1 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2028
Forecast Period 2022 to 2028 CAGR: 4.4% 2028 Value Projection: US$ 8.2 Bn 
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Metallurgy Grade, Chemical Grade
  • By Application: Aluminum Alloys, Semiconductors, Solar Panels, Silicones, Other Applications
Companies covered:

Ferroglobe PLC, Elkem, Liasa, Mississipi Silicon, RIMA Industrial, Rusal, Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd, PCC SE, Hoshine Silicon Industry Co. Ltd, Anyang Huatuo Metallurgy, Minasligas, Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd, and Dow

Growth Drivers:
  • Increasing demand from solar PV industry
  • Growing production of automobile
Restraints & Challenges:
  • Shortage of silicon metal
  • Lower production of silicon metal in China

Figure 2. Global Silicone Metal Market Volume Share (%), By Product Type, 2021


To learn more about this report, request a free sample copy

Market Restraints:

Shortage of silicon metal due to its high usage in production of semiconductor materials is significantly impacting the automotive industry. For instance, the semiconductor shortage, which was supposed to lessen by mid-2022, is expected to worsen. Because Russia  and  Ukraine  are  both  suppliers  of  the components used in semiconductor manufacturing, Russia's attack on Ukraine will put additional strain on  the  industry  globally,  and  it  will  result  in manufacturing  constraints,  causing  in  supply shortages and price hikes for semiconductors.

Lower production of silicon metal in China because China has been limiting the power usage which is declining the production of silicon in the country. For instance, according to the Coherent Market Insights, from January to September 2021, silicon metal output grew by 39% year-on-year. However, the insufficient power supply certainly resulted in a drop in the output in Q4.

Market Opportunities:

Growing focus of key manufacturer on the circular economy, sustainability, and cost-efficiency is expected to push the creators to look for more innovative and cost-efficient ways of silicon production. According to the Coherent Market Insights, the European Commission financed the SisAl Pilot project, Innovative Pilot, for low-impact silicon manufacturing, utilizing secondary aluminum and silicon raw materials under the H2020 Funding Program, subject CE-SC5-07-2018-2019-2020.

Increasing penetration of electric vehicle and favourable policies for EVs is expected to provide significant growth opportunities to the market of silicon metal. According to the International Energy Agency, overall global electric car1 stock reached 10 Billion in 2020, with battery electric vehicles (BEVs) accounting for two-thirds of the world’s electric car fleet

Market Trends/Key Takeaways:

Increasing production of automobile is expected to boost the sale of silicon metal. According to OICA (Organisation Internationale des Constructeurs d'Automobiles), automobile production reached 80,145,988 units in 2021, increasing by 3% from 2020. This is expected to fuel demand for aluminum-silicon alloys, which in turn will favour the market growth.

Increasing production capacity by key players to cater to growing demand for silicon is expected to propel market growth. For instance, in May 2022, Wacker Chemie AG has announced that it is preparing to expand its production capacity for silicon metal at Holla, Norway.

Competitive Landscape:

  1. Ferroglobe PLC
  2. Elkem
  3. Liasa
  4. Mississipi Silicon
  5. RIMA Industrial
  6. Rusal
  7. Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd
  8. PCC SE
  9. Hoshine Silicon Industry Co. Ltd
  10. Anyang Huatuo Metallurgy
  11. Minasligas
  12. Wacker Chemie AG
  13. Shin-Etsu Chemical Co. Ltd
  14. Dow

Frequently Asked Questions

The global silicon metal market size is estimated to be valued at US$ 6.1 Billion in 2021 and is expected to exhibit a CAGR of 4.4% between 2021 and 2028.

Increasing demand for silicon metal from automotive and solar PV industry are fuelling the growth of the market.

The Metallurgy grade type segment is the leading component segment in the market.

Shortage of silicone metal and lower production of silicon metal in China are the major factors restraining growth of the market.

Major players operating in the market are Ferroglobe PLC, Elkem, Liasa, Mississipi Silicon, RIMA Industrial, Rusal, Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd, PCC SE, Hoshine Silicon Industry Co. Ltd, Anyang Huatuo Metallurgy, Minasligas, Wacker Chemie AG, Shin-Etsu Chemical Co. Ltd, and Dow

View Our Licence Options

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request Discount

Reliability and Reputation

DUNS Registered
DMCA Protected


Reliability and Reputation


Reliability and Reputation


Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo