Metallurgical Grade Silicon Market

Metallurgical Grade Silicon Market Outlook (2022-2032)

The global metallurgical grade silicon market is valued at US$ 6.7 billion in 2022 and is expected to progress at a CAGR of 4.1% to reach US$ 10.1 billion by the end of 2032.

Consumption of metallurgical grade silicon accounted for over 40% share of the global silicon metal market at the end of 2021.

Report Attributes	Details
Metallurgical Grade Silicon Market Size (2021A)	US$ 6.5 Billion
Estimated Market Value (2022E)	US$ 6.7 Billion
Forecasted Market Value (2032F)	US$ 10.1 Billion
Global Market Growth Rate (2022-2032)	4.1% CAGR
North America Market Share (2021)	~14.1%
East Asia Market Growth Rate (2022-2032)	~3.2% CAGR
United States Market Growth Rate (2022-2032)	~3.8% CAGR
Market Share of Top 5 Companies	~45%
Key Companies Profiled	Baidao Silicon Powder Co., Ltd Ferroglobe Elkem ASA HPQ Silicon Resources Inc. Silicor Materials Mississippi Silicon Canadian Metals American Elements Jiuzhou Silicon Industry Co., Ltd Ardevur Amalgamet Canada LP PyroGenesis Canada Inc. Accrue Group Holdings Weden Metal Co., Limited

Sales Analysis of Metallurgical Grade Silicon (2017-2021) Vs. Market Forecasts (2022-2032)

Metallurgical grade silicon is formed from silicon that is found in the form of 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 semiconductors, solar, etc., and is also used as a raw material.

MG Si is also used in the manufacturing of silanes and silicones, along with application in the chemical and personal care sectors.

• Short Term (2022 Q2 to 2025): Short-term market growth to be supported by growth of the electronics, hardware, and metal industries.
• Medium Term (2025-2028): Several applications of metallurgical grade silicon in different end-use industries of semiconductors, metallurgical, etc., to support medium-term market growth.
• Long Term (2028-2032): Investments in research & development and production process to supplement market growth over the long term.

Over the historical period of 2017 to 2021, the global market for metallurgical grade silicon registered a CAGR of 2.7%. Worldwide demand for MG Si is projected to increase at 4.1% CAGR from 2022 to 2032, according to Fact.MR, a market research and competitive intelligence provider.

Image reflects market share analysis of metallurgical grade silicon based on form and region. Under the form segment, powder metallurgical grade silicon dominates with 55.6% market share in 2022.

Why is the Use of Metallurgical Grade Silicon Increasing Steadily?

“Rising Application of Metallurgical Grade Silicon across End-use Sectors”

Application of E-metallurgical grade silicon in the manufacturing and chemical industries is rising. For instance, it is used in semiconductors and sunlight-based industries. The assembly of sunlight-based cells requires refined metallurgical evaluation silicon in the form of crude material and it is also used to assemble different microelectronic gadgets.

Furthermore, electronic grade silicon is produced using a cleaner type of metallurgical silicon, which is then utilized to produce sunlight-based evaluation polysilicon. Thus, these wide scopes of use and application of metallurgical grade silicon will support market growth over the coming years.

“Advantages of Upgradation to Metallurgical Grade to fuel Market Growth”

Upgraded metallurgical grade silicon presents several advantages such as high performance, lower costs, and higher efficiency. Also, the cost-effective way and reduced manufacturing costs of the production process are aiding market players. Several options to upgrade metallurgical grade silicon exist, such as the use of methods like solidification, melting, melting & crystallization, etc.

Furthermore, high-purity metallurgical grade silicon is used in the photovoltaic industry rather than in chemical cleaning processes. The high purity of silicon is converted into electronic applications to meet the demand for crystalline silicon in solar cells.

As such, these factors will further supplement MG Si market growth over the coming years.

Country-wise Insights

What is the Outlook of the U.S. Metallurgical Grade Silicon Market?

The United States metallurgical grade silicon market holds 86.7% share in the North American market and is projected to expand at a CAGR of 3.8% during the assessment period of 2022-2032.

The hardware business and the electronics industry in the country are witnessing moderate growth and development, fueling metallurgical grade silicon demand in the United States.

Furthermore, extreme climatic conditions are providing good growth opportunities for solar cell installations. This is expected to bolster the sales of metallurgical grade silicon in the United States.

Why is the Market in China Expected to Be Highly Lucrative?

China’s metallurgical grade silicon market holds 52.6% share in the East Asia market and is projected to rise at the rate of 3.8% throughout the assessment period.

Factors attributed to market growth are impressive growth of the metal and electronics industries over the past years. China holds a dominant position in the production of metallurgical grade silicon, which is bound to support country-level market growth.

Furthermore, the end-use products of metallurgical grade silicon, such as polysilicon, have also witnessed a high growth rate, which, in turn, will support MG Si demand over the years.

Japan's metallurgical grade silicon market is projected to rise at 2.7% CAGR on the back of the well-established electronics industry.

Category-wise Insights

Why is >99% Purity Metallurgical Grade Silicon Highly Preferred?

The global MG Si market, under purity level, is segmented into 98-99% and >99%. The >99% segment holds a higher market share, i.e., 65.7%, and is expected to register 2.8% CAGR during the assessment period.

>99% MG Si is mostly preferred to manufacture other products. As metallurgical grade silicon contains high amounts of impurities, it has to be purified for use in certain end-use industries.

98-99% MG Si holds 34.3% market share and the segment is likely to expand at less pace as compared to >99% MG Si, at 2% CAGR through 2032.

Which Application of MG Si Will Bring in Higher Revenue Streams?

The metallurgical grade silicon market, under application, is segmented into aluminium casting, steel production, foundry applications, and others (semicon and solar applications).

Amongst them, steel production holds 33.7% share in the global MG Si market. Factor supporting segment growth is the high use of metallurgical grade silicon for steel production, and thus, the segment is projected to rise at the rate of 2.8% over the decade.

In addition, the aluminium casting segment holds 29.4% share in the overall market and is expected to register 2% CAGR on the back of usage of metallurgical grade silicon for aluminium casting to develop aluminium alloy products.

Competitive Landscape

Prominent metallurgical grade silicon manufacturers 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.

Manufacturers of metallurgical grade silicon are looking to expand their manufacturing facilities on the back of rising demand from end-use sectors. Along with this, they are looking for ways to reduce manufacturing costs to improve their market stance over the coming years.

• Ferroglobe 2021 announced plans to restart its silicon metal facility in the United States. The plan is to restart its subsidiary Globe Metallurgical Inc. and also acquire and upgrade equipment to start the production of silicon metal.
• HPQ Silicon Resources Inc. announced in 2021 an agreement with PyroGenesis Canada Inc., a plant development program of fumed silica materials having a low-cost manufacturing process. This new process is a leap forward in the green manufacturing of fumed silica.

Fact.MR has provided detailed information about the price points of key metallurgical grade silicon producers positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Metallurgical Grade Silicon Industry Research

• By Purity Level :

  • 98-99%
  • >99%

• By Grade :

  • 441
  • 553
  • 1101
  • 2202
  • 3303
  • Others

• By Form :

  • Powder
  • Granules
  • Blocks/Sheets

• By Application :

  • Aluminium Casting
  • Steel Production
  • Foundry Applications
  • Others (Semicon and Solar Applications)

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA