The Global Silicon Metal Market Set to Grow by 5.4% by 2028: Government Regulations and Initiatives Shaping the Future: Ken Research
Fueling Growth through Government Initiatives: Subsidizing Semiconductors Industry - A Key End-User of Silicon Metal. Market Trends in New Energy Technologies and Growing Partnerships Propelling the Global Silicon Metal Market.
GURUGRAM, India, Aug. 16, 2023 /PRNewswire/ --
Story Outline
- USA: A Boost for Semiconductor Production and Research
- China: Subsidies for Semiconductor Companies
- Asia-Pacific: Government Support for Semiconductor Manufacturing
- Transitioning to Greener Alternatives and Technological Advancements and more
The current state of the global silicon metal market, focusing on how government regulations and initiatives are shaping its growth. It explores the USA's significant investment in the semiconductor industry and China's ambitious plans for subsidizing domestic semiconductor equipment. Additionally, it sheds light on Asia-Pacific countries supporting semiconductor companies with substantial financial aid. Also check key trends and recent developments in the silicon metal market, providing valuable insights into industry advancements.
1. Government Regulations and Initiatives Shaping the Global Silicon Metal Market: A Comprehensive Analysis.
USA - US signed a landmark bill to provide $52.7 Bn in grants for US semiconductor production and research as well as tax credit for chip plants estimated to be worth $24 Bn.
China - The Chinese government is projected to allocate up to $200 Bn towards subsidizing semiconductor companies by 2025, primarily focusing on providing financial aid for the procurement of domestic semiconductor equipment by Chinese firms.
Asia-Pacific - A semiconductor company opens a factory in Taiwan, government covers almost half of the land and construction costs & 25% of equipment costs.
In Singapore, government subsidies cut cost of owning computer-chip factory by more than a quarter.
Interested to Know More about this Report, Request For Sample Report
2. Exploring the Global Silicon Metal Market: Key Trends & Recent Developments.
South America - The demand for silicon metal is expected to continue the upward trend due to the new energy technologies underpinned by the growth of the polysilicon sector and its use in solar energy in countries like Brazil.
Asia Pacific - The production of aluminum-silicon alloys is expected to rise during the forecast period due to increased Asian automobile consumption. China is one of the world's largest silicon metal producers, & thus expected to dominate APAC region.
North America - According to IEA (International Energy Agency), in the United States, the federal aim is for electric vehicles (EVs) to make up 50% of new passenger cars & light trucks sold by 2030. Thereby, increasing the demand for silicon metal.
3. Insights from Analyst Recommendations: Global Silicon Metal Market Analysis and Projections.
Analyst Recommendations
- Reducing the cost of production of Silicon metal.
- Opportunities in growing Electric Vehicle Market.
- Growing Partnerships.
- Strategies followed by leading players.
In a notable stride towards embracing a more environmentally conscious and economically efficient trajectory, industries are actively shifting towards greener alternatives. A significant leap in this direction comes from the collaboration between Trinso and Ferroglobe, who have collectively pioneered the development of an advanced silicon anode material that holds the potential to revolutionize battery charging technologies. This innovation isn't merely limited to groundbreaking materials; it signifies a pivotal step in reshaping the energy landscape.
A prime example of this evolution can be seen through the endeavors of renowned silicon metal producers like FerroGlobe and REC Silicon. Recognizing the imperative of sustainability and innovation, these industry giants have embarked on strategic partnerships aimed at not only broadening their product offerings but also amplifying their bottom-line profitability. This strategic alignment underscores their commitment to aligning business goals with environmental responsibility, serving as a beacon of inspiration for others in the sector.
Visit this Link:- Request for custom report
Central to these advancements is a dedicated focus on perpetual product development, fortified by substantial investments in research and development. This approach isn't merely reactive; it's proactively designed to shape the industry's future. The committed injection of resources into research and development forms the bedrock of this transformative journey, enabling these companies to remain at the forefront of innovation. Furthermore, their adaptable capabilities play a pivotal role. The capacity to swiftly respond to market dynamics and pivot strategies in alignment with emerging trends ensures that their efforts remain not only relevant but also impactful in a swiftly evolving landscape.
As industries embrace the dual mantle of environmental stewardship and business prosperity, it's clear that the paradigm shift isn't just about singular innovations; it's about orchestrating a holistic transition towards a more sustainable and competitive future. The emphasis on collaborative ingenuity, sustained research efforts, and the ability to flexibly navigate change serves as a testament to the metamorphic potential within industries, signaling a promising path ahead.
The global silicon metal market is experiencing significant changes driven by government regulations and initiatives worldwide. The USA and China's massive financial backing for the semiconductor industry is expected to boost production and research capabilities. Meanwhile, Asia-Pacific countries' support for semiconductor companies contributes to industry expansion. Additionally, exploring key trends and recent developments reveals exciting advancements and opportunities in the silicon metal market. Analyst recommendations emphasize the importance of sustainability, innovation, and strategic partnerships to thrive in this dynamic industry.
Request free 30 minutes analyst call
Market Taxonomy
Global Silicon Metal Market Segmentation
By Product Type
- Metallurgy Grade
- Chemical Grade
By Application
- Aluminum Alloys
- Silicones
- Solar Panels
- Semiconductors
- Others
By Geography
- Asia-Pacific
- Europe
- North America
- Middle East & Africa
- South America
Asia Pacific Silicon Metal Market Segmentation
By Region
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
By Product Type
- Metallurgy Grade
- Chemical Grade
By Application
- Aluminum Alloys
- Silicones
- Solar Panels
- Semiconductors
- Others
Europe Silicon Metal Market Segmentation
By Region
- Germany
- UK
- France
- Italy
- Rest of Europe
By Product Type
- Metallurgy Grade
- Chemical Grade
By Application
- Aluminum Alloys
- Silicones
- Solar Panels
- Semiconductors
- Others
North America Silicon Metal Market Segmentation
By Region
- US
- Canada
- Mexico
By Product Type
- Metallurgy Grade
- Chemical Grade
By Application
- Aluminum Alloys
- Silicones
- Solar Panels
- Semiconductors
- Others
Middle East & Africa Silicon Metal Market Segmentation
By Region
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
By Product Type
- Metallurgy Grade
- Chemical Grade
By Application
- Aluminum Alloys
- Silicones
- Solar Panels
- Semiconductors
- Others
South America Silicon Metal Market Segmentation
By Region
- Brazil
- Argentina
- Rest of South America
By Product Type
- Metallurgy Grade
- Chemical Grade
By Application
- Aluminum Alloys
- Silicones
- Solar Panels
- Semiconductors
- Others
For more insights on market intelligence, refer to the link below: –
Related Reports By Ken Research:-
According to Ken Research Analysis, the Global Oleochemicals Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028) and is expected to reach approximately US$ 50 billion by 2028. The opportunity to replace conventional petroleum-based products in various sectors along with the easy availability of raw materials required for the production of oleochemicals is positively impacting the market. Petroleum is a fossil fuel that when used poses a risk to the environment. Governments are enforcing stricter regulations for the sparing use of petroleum which can be replaced by oleochemicals.
Over the next five years, the Biocomposites market in North America is forecasted to grow at least 12% CAGR, owing to the stable long-term usage among end-user industries and government efforts for use of more eco-friendly products, especially in developed countries such as the USA. Consumer products such as music instruments, casings and cases, furniture, tables, toys, combs, and trays are made from wood and natural fiber plastic granulates. Customer preferences for these products due to their distinct appearance and feel, great quality, and value will help the Biocomposites market to grow.
India adhesives market showcased a stagnant growth rate in the last few years and recorded a CAGR of 7.5% during FY'15-FY'20. Surging demand for water based adhesives in India is contributing to the growth of the adhesives industry in India. Government initiatives such as Make in India and Smart Cities projects are contributing to adhesive market growth. There is significant demand from the Western Region of India. Fluctuating raw material prices (VAM), which move in tandem with crude oil prices, high setup costs and high R&D expenditure required in the adhesives market is posing as a challenge to the adhesives industry in India.
Follow Us –
LinkedIn | Instagram | Facebook | Twitter | YouTube
Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249
Logo: https://mma.prnewswire.com/media/1954972/3782349/Ken_Research_Logo.jpg
Share this article