The Silicon Metal Market was valued at USD 7.92 billion in 2024 and is projected to reach USD 12.19 billion by 2032, with a CAGR of 5.53%. Demand is driven by EVs, renewables, and alloys, with significant growth in the U.S. production and imports. Companies like Ferroglobe and Dow Silicones are focusing on advanced applications. Asia Pacific demand from China and India is also boosting trade.

In the U.S., the Silicon Metal market is valued at USD 1.48 billion in 2024 and is expected to reach USD 2.43 billion by 2032, with a CAGR of 6.39%. Increased investment in semiconductor-grade silicon, rising EV demand, and federal support for domestic manufacturing are key factors driving market growth. Companies like Ferroglobe and Dow are focusing on low-carbon, high-purity grades.

The Silicon Metal Market Report details the market size, segments analysis, competitive landscape, regional analysis, and forecast outlook. Key segments include type, purity, application, and end-use industry. The dominance of metallurgical grade silicon in the market is due to its essential role in aluminum alloy production, particularly in the automotive and construction sectors. Aluminum alloys and the automotive industry are the dominant segments in the market, with significant growth in demand driven by lightweighting trends and EV adoption.

Asia Pacific dominated the Silicon Metal Market in 2024, holding a 42.50% market share. Strong local production capacity, robust demand from the aluminum and solar sectors, and competitive manufacturing costs contribute to the region’s dominance. Recent developments include Elkem’s pilot of CO₂-free silicon production with financial support from Enova, aiming for up to 95% carbon capture in next-generation silicon smelters. Key factors driving market growth include supportive government policies, downstream product innovation trends, supply chain digitalization, and shifts in export and import dependencies.

Read more at GlobeNewswire: Silicon Metal Market is Projected with a Value of USD 12.19