COVID-19 has affected both the demand and supply of Silicon all around the globe. Due to restrictions, there couldn’t be a regular material supply, while most of the silicon metal plants stopped production temporarily. The price reversal due to COVID-19 and the recent commerce imposition of preliminary duties on all silicon metal Imports will further affect the market negatively.

- Over the mid-term, One of the major factors driving the market studied is the increasing demand for aluminum-silicon alloys.

- High cost of production is expected to hinder the growth of the market studied.

- In the short and long run there is no visible option to reduce the cost of Silicon metal production as the implementations on taxes are increasing over time.

- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.

Key Market Trends

Increasing Demand from Semiconductor Application

- Silicon is commonly used as a semiconductor in electronics: devices, such as printed circuit boards, transistors, integrated circuits, and many more, due to its properties that help in achieving the desired conductive efficiency.

- Silicon conducts electricity under some conditions, and acts as an insulator under others.

- Silicon’s electrical properties can be modified through a process called doping. These characteristics make it an ideal material for making transistors, which amplify electrical signals.

- Silicon wafer is the most common type of electronic components that are used in numerous electronic devices.

- Silicon possesses a moderate energy band gap of 1.12eV at 0 K. This makes silicon a stable element when compared to Germanium and reduces the chance of leakage current.

- Global Semiconductor sales stood at 439 billion USD in 2020 due to growing demand for chips across the markets

- In the recent times, research has been conducted in the field of silicon photonics, which combines the photonics and electronics to create ultra-fast optical data processing.

- Owing to the aforementioned reasons, the usage of silicon metals in semiconductor application is increasing, globally.

Asia-Pacific Region to Dominate the Market

- Asia-Pacific accounts for the largest share in the market with China being the world's largest producer of silicon metal.

- China is the world’s largest producer of silicon. According to the silicon branch of China Non-ferrous Metals Industry Association (CNIA), China wants to reposition its domestic silicon metal sector as a strategic source of raw material for the nation, due to the persistent overseas anti-dumping policies imposed against import of silicon from China.

- The Chinese silicon metal sector has a high energy and resource consuming, along with high polluting industry. Although some regional governments have preferential policies for their local silicon players to lift their completeness, due to expected limited room for a further fall in rigid costs, domestic silicon prices are likely to be stable in the future.

- China with a production volume of around 5.4 million metric tons in 2020 is the largest silicon producer.

- There exists a strong competition among various key  Chinese silicon production zones, especially between Yunnan Province, Central China, and Xinjiang Uyghur Autonomous Region, Northwest China. The Yunnan government has cut power costs in the region, to enhance its competitiveness and output.

- The aforementioned factors are expected to drive the market in the region, during the forecast period.

Competitive Landscape

The silicon metal market is partially consolidated. The major companies include Ferroglobe, Mississippi Silicon, RIMA Industrial, Sil'tronix Silicon Technologies, and Silicon Metal Industries, among others.

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