According to the recent study the silicon market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 5% to 7% from 2023 to 2028. Growth in this market is primarily driven by increasing demand from end user industries, such as semiconductor and energy for manufacturing of chips to be used in photovoltaic cells and computers.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in silicon market by product type (ferrosilicon and silicon metal), application (steel, aluminum alloys, silicone, semiconductors, and others), grade (metallurgy grade and chemical grade), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Aluminum alloy market is expected to remain the largest segment during the forecast period.”
Based on application, the silicon market is segmented into steel, aluminum alloys, silicone, semiconductors, and others. Lucintel forecasts that the aluminum alloy market is expected to remain the largest segment due to as it is widely adopted in the automotive industry to develop light-weight components as it ensures improved corrosion resistance and lower wear rate.
“Asia pacific will dominate the silicon market in near future”
Asia Pacific is expected to remain the largest region over the forecast period due to increase in demand from various end user industries like automotive and semiconductor in India, China, and Japan.
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Major players of silicon market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Ferroglobe, Dow, Mississippi Silicon, Siltronix Silicon Technologies, Silicon Metal Industries, Rima Industrial, Wacker Chemie, Shin-Etsu Chemical, and Elkem are among the major silicon providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/silicon-market.aspx or [email protected]