The Silicon Metal Market is estimated to be USD 7,981.4 million in 2024. Furthermore, the market is expected to grow to USD 10,949.1 million by 2031, with a Compound Annual Growth Rate (CAGR) of 4.62%.
Silicon Metal Market Overview
Silicon (Si) is a chemical element and a semiconductor with atomic number 14. Silicon is the second most common element in Earth’s crust, although it is hard to find as a pure element in nature. Silicon metal is an industrial additive produced by smelting quartz & coke in an electric heating furnace. It consists of 98% silicon, although silicon composition has increased to 99.99% silicon in recent years. Impurities in silicon metals mainly include iron, aluminum, and calcium. Silicon metal is used as a feedstock in the production of silicones, aluminum alloys, and semiconductor materials.
Silicon is important globally due to its industrial uses in steel production, chemical processes, aluminum casting, etc. Silicon wafers are thin slices of semiconductors used to fabricate IC (Integrated Circuits) and manufacture solar cells. The global silicon chip/semiconductor shortage has thrust silicon into the international spotlight since it began during the early days of the COVID-19 pandemic.
Trade Intelligence for Silicon Metal Market
|
Global Silicon containing < 99,99% by weight of silicon Trade, Imports, USD million, 2020-24 |
|||||
|
|
2020 |
2021 |
2022 |
2023 |
2024 |
|
World |
2,691 |
4,546 |
6,166 |
3,878 |
3,802 |
|
Germany |
479 |
581 |
1,072 |
792 |
609 |
|
United States of America |
271 |
307 |
751 |
443 |
478 |
|
Japan |
344 |
772 |
808 |
414 |
392 |
|
Thailand |
145 |
313 |
357 |
111 |
356 |
|
India |
94 |
201 |
244 |
194 |
188 |
|
Source: OGAnalysis, International Trade Centre (ITC) |
|||||
- Germany, United States of America, Japan, Thailand and India are the top five countries importing 53.2% of global Silicon containing < 99,99% by weight of silicon in 2024
- Global Silicon containing < 99,99% by weight of silicon Imports increased by 41.2% between 2020 and 2024
- Germany accounts for 16% of global Silicon containing < 99,99% by weight of silicon trade in 2024
- United States of America accounts for 12.6% of global Silicon containing < 99,99% by weight of silicon trade in 2024
- Japan accounts for 10.3% of global Silicon containing < 99,99% by weight of silicon trade in 2024
|
Global Silicon containing < 99,99% by weight of silicon Export Prices, USD/Ton, 2020-24 |
|
|
|
Source: OGAnalysis |
Latest Trends in Silicon Metal Market
Increasing Application of Aluminum–Silicon Alloys in the Automotive Industry:
Aluminum-silicon alloys are increasingly employed in the automotive industry due to the growing need to reduce weight to decrease fuel consumption. Silicon is the key alloying element as it offers desirable characteristics such as high thermal conductivity, good castability, high corrosion resistance, and machinability. Also, aluminum-silicon alloys are used for making sheets and wires for welding and brazing. Automobile manufacturers focus on producing more fuel-efficient and lowering greenhouse gas emissions. Aluminum-silicon alloy is ideal due to its corrosion resistance, low wear rates, and low thermal expansion.
According to OICA, in 2021, automobile production reached 80,145,988 units, increasing by 3% from 2020. Electric vehicle designs must get significantly lighter to reduce the amount of electricity necessary to drive the engine. According to the IEA, in 2030, global electric vehicle sales are expected to reach 125 million, excluding two/three-wheelers. Therefore, the increasing demand for electric vehicles and the growing production of automobiles will drive the demand for aluminum-silicon alloys, further driving the demand for silicon metals.
Driving Factors
Rising Demand for Silicon Metal in Semiconductor Applications:
Silicon metal is commonly used as a semiconductor in electronics: devices such as transistors, IC (Integrated Circuits), and printed circuit boards use silicon’s highly conductive properties to maximize their performance. For silicon to function as a semiconductor in various electronics applications, the material is typically doped (a small impurity is added) to enable electrons to be released without drastically altering the temperature.
Although several silicon materials are suitable for semiconductor applications, two of the most commonly used materials in electronics applications include N-type material and P-type material. Many electronic devices use both P- and N-type silicon materials as reliable semiconductors for voltage, but preparing and processing them for use in such applications requires high precision and accuracy.
Market Challenges
High Cost of Production of Silicon Metal:
Presently, the high cost of silicon metal production is a major restraint hampering the market growth. The production of silicon metal is extremely energy-intensive due to the necessary purification process. Production of silicon metal requires feedstock such as coal, quartz, natural gas/oil, and electrodes.
Report Scope
|
Parameter |
Silicon Metal Market scope Detail |
|
Base Year |
2024 |
|
Estimated Year |
2025 |
|
Forecast Period |
2026-2032 |
|
Market Size-Units |
USD million |
|
Market Splits Covered |
By Product type, By Grade and By End-User |
|
Countries Covered |
North America (USA, Canada, Mexico) |
|
Analysis Covered |
Latest Trends, Driving Factors, Challenges, Trade Analysis, Price Analysis, Supply-Chain Analysis, Competitive Landscape, Company Strategies |
|
Customization |
10% free customization (up to 10 analyst hours) to modify segments, geographies, and companies analyzed |
|
Post-Sale Support |
4 analyst hours, available up to 4 weeks |
|
Delivery Format |
The Latest Updated PDF and Excel Data file |
Market Segmentation
By Product Type
- Metallurgical Grade
- Chemical Grade
By Grade
- 553 GRADE
- 441 GRADE
- 3303 GRADE
- 2202 GRADE
- Others
By End-user
- Aluminum Alloys
- Semiconductors
- Solar Panels
- Silicones
- Others
By Region
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, South Korea, Indonesia, Malaysia, Vietnam, Rest of APAC)
- The Middle East and Africa (Saudi Arabia, South Africa, UAE, Iran, Egypt, Rest of MEA)
- South and Central America (Brazil, Argentina, Chile, Rest of SCA)
Companies Mentioned
- Rusal
- Ferroglobe
- Elkem
- Wacker Chemie AG
- Shin-Etsu Chemical Co. Ltd.
- Dow, Inc.
- Hoshine Silicon Industry Co. Ltd.
- RIMA Industrial
- Mississippi Silicon
- Zhejiang Kaihua Yuantong Silicon Industry Co. Ltd
- The Quartz Corp
- Globe Specialty Metals
- Wynca Group
- Simcoa Operations
- Anyang Huatuo Metallurgy
Recent Developments
- October 2025: U.S. silicon metal producers, including Ferroglobe and Mississippi Silicon, announced favorable preliminary trade rulings on imports from multiple countries, strengthening domestic pricing and production outlooks.
- September 2025: Ferroglobe temporarily suspended silicon metal production operations across its European plants due to weak market demand and persistent price pressure.
- September 2025: WACKER unveiled a sustainability initiative to introduce biogenic carbon at its Holla facility, aiming to achieve near carbon-neutral metallurgical-grade silicon metal production.
- August 2025: Silicon Metals Corp. completed key financial restructuring and capital infusion processes under its strategic private placement to support production expansion.
- July 2025: China’s silicon metal exports showed a steady rise compared to the previous month, driven by increased downstream demand from aluminum alloy and semiconductor industries.
- April 2025: A large-scale silicon metal manufacturing project in Yanjin, China, began trial operations to supply eco-friendly and high-purity silicon materials for industrial use.
- January 2025: Silicon Metals Corp. finalized the acquisition of the Longworth silica project, strengthening its upstream raw material base for metallurgical silicon production.
- January 2025: U.S. silicon metal imports recorded a sharp monthly increase, reflecting stronger domestic consumption and the need for diversified sourcing amid supply constraints.
TABLE OF CONTENTS
1. TABLE OF CONTENTS
1.1. LIST of TABLES
1.2. LIST of FIGURES
2. GLOBAL SILICON METAL MARKET REVIEW, 2023
2.1. Silicon Metal Market Industry Overview
2.2. Research Methodology
2.2.1. Market Scope and Definition
2.2.2. Study Assumptions
3. SILICON METAL MARKET INSIGHTS
3.1. Key Product Types of Silicon Metal Market to 2031
3.2. Leading Grades of Silicon Metal Market to 2031
3.3. Dominant End Use of Silicon Metal Market to 2031
3.4. High Prospect Geography for Silicon Metal Market to 2031
4. SILICON METAL MARKET TRENDS, DRIVERS, AND RESTRAINTS
4.1. Latest Trends and Recent Developments in Silicon Metal Market
4.1.1. Increasing Application of Aluminum–Silicon Alloys in the Automotive Industry
4.1.2. High Demand for Solar Panels in Asia Pacific Region
4.1.3. COVID-19 Impact on Silicon Metal Market
4.1.4. Rising Demand for Electronic Devices
4.2. Key Factors Driving the Silicon Metal Market Growth
4.2.1. Rising Demand for Silicon Metal in Semiconductor Applications
4.2.2. Improvement of New Technologies in Silicon Production
4.2.3. Increasing Disposable Income in Fast Developing Asian Markets
4.3. Major Challenges to the Silicon Metal Market Industry, 2023-2031
4.3.1. High Cost of Production of Silicon Metal
4.3.2. Criticality Regarding the Selection Of Carbon Electrodes & Strict Regulatory Policies
4.4. Five Forces Analysis for Global Silicon Metal Market
5. GLOBAL SILICON METAL MARKET DATA - INDUSTRY SIZE, SHARE, AND OUTLOOK
5.1. Silicon Metal Market Annual Sales Outlook, 2023-2031 ($Million)
5.2. Global Silicon Metal Market Annual Sales Outlook by Product Type, 2023-2031 ($Million)
5.2.1. Metallurgical Grade Market Outlook, 2023-2031
5.2.2. Chemical Grade Market Outlook, 2023-2031
5.3. Global Silicon Metal Market Annual Sales Outlook by Grade, 2023-2031 ($Million)
5.3.1. 553 GRADE Silicon Metal Market Outlook, 2023-2031
5.3.2. 441 GRADE Silicon Metal Market Outlook, 2023-2031
5.3.3. 3303 GRADE Silicon Metal Market Outlook, 2023-2031
5.3.4. 2202 GRADE Silicon Metal Market Outlook, 2023-2031
5.3.5. Other GRADE Silicon Metal Market Outlook, 2023-2031
5.4. Global Silicon Metal Market Annual Sales Outlook By End-user Industry, 2023-2031 ($Million)
5.4.1. Aluminum Alloys, Market Outlook, 2023-2031
5.4.2. Semiconductors, Market Outlook, 2023-2031
5.4.3. Solar Panels, Market Outlook, 2023-2031
5.4.4. Silicones, Market Outlook, 2023-2031
5.4.5. Other End-user Industries, Market Outlook, 2023-2031
5.5. Global Silicon Metal Market Annual Sales Outlook by Geography, 2023-2031 ($Million)
6. ASIA PACIFIC SILICON METAL MARKET INDUSTRY STATISTICS - MARKET SIZE, SHARE, COMPETITION AND OUTLOOK
6.1. Asia Pacific Market Insights, 2023
6.2. Asia Pacific Silicon Metal Market Revenue Forecast By Product Type, 2023-2031 (USD Million)
6.3. Asia Pacific Silicon Metal Market Revenue Forecast By Grade, 2023-2031 (USD Million)
6.4. Asia Pacific Silicon Metal Market Revenue Forecast by End-Use, 2023-2031 (USD Million)
6.5. Asia Pacific Silicon Metal Market Revenue Forecast by Country, 2023-2031 (USD Million)
6.5.1. China
6.5.2. Japan
6.5.3. India
6.5.4. South Korea
6.5.5. Rest of Asia Pacific
7. EUROPE OUTLOOK AND GROWTH OPPORTUNITIES
7.1. Europe Market Insights, 2023
7.2. Europe Silicon Metal Market Revenue Forecast By Product Type, 2023-2031 (USD Million)
7.3. Europe Silicon Metal Market Revenue Forecast By Grade, 2023-2031 (USD Million)
7.4. Europe Silicon Metal Market Revenue Forecast By End-user Industry, 2023-2031 (USD Million)
7.5. Europe Silicon Metal Market Revenue Forecast by Country, 2023-2031 (USD Million)
7.5.1. Germany
7.5.2. United Kingdom
7.5.3. France
7.5.4. Italy
7.5.5. Spain
7.5.6. Rest of Europe
8. NORTH AMERICA OUTLOOK AND GROWTH OPPORTUNITIES
8.1. North America Market Insights, 2023
8.2. North America Silicon Metal Market Revenue Forecast By Product Type, 2023-2031 (USD Million)
8.3. North America Silicon Metal Market Revenue Forecast By Grade, 2023-2031 (USD Million)
8.4. North America Silicon Metal Market Revenue Forecast By End-user Industry, 2023-2031 (USD Million)
8.5. North America Silicon Metal Market Revenue Forecast by Country, 2023-2031 (USD Million)
8.5.1. United States
8.5.2. Canada
8.5.3. Mexico
9. SOUTH AND CENTRAL AMERICA OUTLOOK AND GROWTH OPPORTUNITIES
9.1. South and Central America Market Insights, 2023
9.2. South and Central America Silicon Metal Market Revenue Forecast By Product Type, 2023-2031 (USD Million)
9.3. South and Central America Silicon Metal Market Revenue Forecast By Grade, 2023-2031 (USD Million)
9.4. South and Central America Silicon Metal Market Revenue Forecast by End-Use, 2023-2031 (USD Million)
9.5. South and Central America Silicon Metal Market Revenue Forecast by Country, 2023-2031 (USD Million)
9.5.1. Brazil
9.5.2. Argentina
9.5.3. Rest of South and Central America
10. MIDDLE EAST AFRICA OUTLOOK AND GROWTH OPPORTUNITIES
10.1. Middle East Africa Market Insights, 2023
10.2. Middle East Africa Silicon Metal Market Revenue Forecast By Product Type, 2023-2031 (USD Million)
10.3. Middle East Africa Silicon Metal Market Revenue Forecast By Grade, 2023-2031 (USD Million)
10.4. Middle East Africa Silicon Metal Market Revenue Forecast By End-user Industry, 2023-2031 (USD Million)
10.5. Middle East Africa Silicon Metal Market Revenue Forecast by Country, 2023-2031 (USD Million)
10.5.1. Middle East
10.5.2. Africa
11. SILICON METAL MARKET STRUCTURE AND COMPETITIVE LANDSCAPE
11.2. ELKEM ASA
11.3. DOW, INC.
11.4. FERROGLOBE PLC
11.5. WACKER CHEMIE AG
11.6. HOSHINE SILICON INDUSTRY CO., LTD.
12. APPENDIX
12.1. About Us
12.2. Sources
12.3. Research Methodology
12.4. Contact Information
Get Free Sample
At OG Analysis, we understand the importance of informed decision-making in today's dynamic business landscape. To help you experience the depth and quality of our market research reports, we offer complimentary samples tailored to your specific needs.
Start Now! Please fill the form below for your free sample.
Why Request a Free Sample?
Evaluate Our Expertise: Our reports are crafted by industry experts and seasoned analysts. Requesting a sample allows you to assess the depth of research and the caliber of insights we provide.
Tailored to Your Needs: Let us know your industry, market segment, or specific topic of interest. Our free samples are customized to ensure relevance to your business objectives.
Witness Actionable Insights: See firsthand how our reports go beyond data, offering actionable insights and strategic recommendations that can drive your business forward.
Embark on your journey towards strategic decision-making by requesting a free sample from OG Analysis. Experience the caliber of insights that can transform the way you approach your business challenges.
FAQ's
The Global Silicon Metal Market is estimated to generate USD 7981.4 million in revenue in 2024.
The Global Silicon Metal Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.62% during the forecast period from 2025 to 2032.
The Silicon Metal Market is estimated to reach USD 11455 million by 2032.
$4150- 30%
$6450- 40%
$8450- 50%
$2850- 20%
Didn’t find what you’re looking for? TALK TO OUR ANALYST TEAM
Need something within your budget? NO WORRIES! WE GOT YOU COVERED!
