Download Free Sample
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Silicon Alloys Market was valued at US$ 6.4 billion in 2022 and expected to reach US$ 9.2 billion by the end of 2028, recording a significant CAGR of 5.3% from 2023-2029. Automobile production has increased significantly after the liberalization of the economy. A rise in the sales of automobiles, especially in emerging countries such as China and India, due to an increase in purchasing power and disposable income is expected to drive the silicon alloys market. Expansion of the automotive additive industry is likely to result in a rise in demand for silicon alloys for manufacturing steel and cast iron. This is anticipated to propel the market in the near future. Therefore, increase in production of automobiles and rise in automotive sales is fueling the market growth. In the total production cost of ferrosilicon or silicon alloys electricity has the major contribution. The production of silicon alloys is an energy-intensive process. Any upsurge in electricity prices can harmfully affect the production cost of silicon alloys which is the major restraint for the market. Moreover, emerging countries like India and China have power cuts and power shortages which is the key problem for the production of silicon alloy in these countries.
Study Period
2024-2030Base Year
2023CAGR
5.3%Largest Market
Asia-PacificFastest Growing Market
North America
Some of the key factors influencing the market growth include rapid industrialization and infrastructure development across various regions, rising sales of automobiles, increasing demand for aluminum-silicon alloys, expansion of the automotive industry and increase in purchasing power coupled with growing disposable income of the consumers. However, factors such as high cost of production and dependence on power & reductants are hampering the market growth.
Global silicon alloys market report gives comprehensive outlook on silicon alloys across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific accounted for larger revenue share in global silicon alloys market with considerable CAGR as the region is an industrial and automotive hub. Rising demand for portable electronics, automobiles and solar panels in the region are other factors responsible for the market growth. Also, China is the worlds largest producer and consumer of silicon alloy which makes it a major contributor for the market growth in this region.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market Size in 2022 |
US$ 6.4 billion |
|
Market CAGR |
5.3% |
|
By Type |
|
|
By Application |
|
|
By Region |
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)
|
Download Free Sample Report
2022 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
7. Global Silicon Alloys Market Forecast, By Region, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn), Volume (000 MT)
8. North America Silicon Alloys Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn), Volume (000 MT)
9. Europe Silicon Alloys Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn), Volume (000 MT)
10. Asia-Pacific Silicon Alloys Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn), Volume (000 MT)
11. Latin America Silicon Alloys Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn), Volume (000 MT)
12. Middle East and Africa Silicon Alloys Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn), Volume (000 MT)
13. Competition Landscape
14. Research Methodology
15. Key Assumptions and Acronyms
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.