Metallurgical Grade Silicon Market Growth Ahead

USA, Rockville MD, Aug. 25, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global metallurgical grade silicon market is valued at US$6.7 billion in 2022 and is projected to grow at a CAGR of 4.1% over the forecast years 2022-2032.

Metallurgical grade silicone is used to produce solar-facing cells for further development of sunlight-based cell establishments. Its use in the metals sector should support overall growth. The market is likely to grow due to mechanical advancements and the wider use of metallurgical grade silicon in silicone and silane end uses.

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Metallurgical grade silicon is formed from silicon present as silica in the earth’s crust. It is also known as MG Si and is a purified form of silicon, having a purity of around 98% or more. It finds wide application in end-use industries such as semiconductor, solar, etc., and is also used as a raw material.

MG Si is also used in the manufacture of silanes and silicones, as well as in the chemical and personal care industries.

Why is the use of metallurgical grade silicon steadily increasing?

“Growing Application of Metallurgical Grade Silicon in End-Use Sectors”

The application of E-metallurgical grade silicon in manufacturing and chemical industries is increasing. For example, it is used in semiconductors and sunlight-based industries. Solar cell assembly requires refined metallurgical grade silicon as raw material and it is also used to assemble different microelectronic gadgets.

Additionally, electronic-grade silicon is produced using a cleaner type of metallurgical silicon, which is then used to produce sunlight-based grade polysilicon. Thus, these wide scopes of usage and application of metallurgical grade silicon will support the growth of the market in the coming years.

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Key segments covered by the Metallurgical grade silicon Industry survey

  • By form:
    • Powder
    • pellets
    • Blocks/Sheets
  • Per application:
    • Aluminum casting
    • Steel production
    • Foundry applications
    • Others (semicon and solar applications)
  • By region:
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia and Oceania
    • AEM

Competitive landscape

Major manufacturers of metallurgical grade silicon are Baidao Silicon Industry Co., Ltd., Elkem ASA, HPQ Silicon Resources Inc., Ferroglobe, Silicor Materials, Mississippi Silicon, Canadian Metals, American Elements, Jiuzhou Silicon Industry Co., Ltd., Ardevur, Amalgamet. Canada LP, PyroGenesis Canada Inc., Accrue Group Holdings and Weden Metal Co., Limited.

Metallurgical-grade silicon manufacturers are looking to expand their manufacturing facilities due to growing demand from end-use sectors. Along with this, they are looking for ways to reduce manufacturing costs in order to improve their market position over the next few years.

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The key players in the Metallurgical grade silicon Market

  • Baidao Silicon Powder Co.,Ltd
  • Ferroglobe
  • Elkem ASA
  • HPQ Silicon Resources Inc.
  • Silicon materials
  • Mississippi Silicon
  • Canadian metals
  • American elements

Main takeaways from Metallurgical grade silicon Market research

  • The global metallurgical grade silicon market is expected to grow at a CAGR of 4.1% and be valued at USD 10.1 billion by 2032.
  • The market recorded a CAGR of 2.7% from 2017 to 2021.
  • The >99% segment, below the purity level, holds a dominant market share of 65.7% and is expected to increase to 2.8% CAGR over the decade.
  • The 1101 grade segment is a major shareholder of the market share with 34.3% and is expected to register a higher growth rate of 3.3% compared to other segments.
  • 2202 and 3303 are expected to grow at 2.8% and 2.2% CAGR, respectively, throughout the 2022-2032 valuation period.
  • In the shapes segment, powder metallurgical grade silicon dominates the market with a 55.6% share.
  • The East Asia region is the market leader with 42.3% market share in 2021.
  • Considering the regions, the demand for metallurgical grade silicon is expected to grow at CAGRs of 4.8% and 4.3%, respectively, in South Asia and Oceania and Europe.

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