Global Silicon and Ferrosilicon Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Silicon and Ferrosilicon Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Silicon is a hard, brittle crystalline solid with a blue-grey metallic luster, and is a tetravalent metalloid and semiconductor. Silicon is used to make semiconductor devices, solar panels, optical fibers, and integrated circuits. Ferrosilicon is an alloy of iron and silicon that is made by reducing silica in the presence of iron, and which plays an essential role in steelmaking.

Market Overview:

The latest research study on the global Silicon and Ferrosilicon market finds that the global Silicon and Ferrosilicon market reached a value of USD 21753.01 million in 2022. It’s expected that the market will achieve USD 32127.3 million by 2028, exhibiting a CAGR of 6.72% during the forecast period.

Impact of Russia and Ukraine War

The war in Russia and Ukraine could affect the Silicon and Ferrosilicon industry in several ways. First, Russia is a major exporter of ferrosilicon in the global market. During the Russia and Ukraine War, the United States, the European Union, and other countries successively announced sanctions against Russia, making Russia the target of global sanctions and financial isolation, which blocked the export of ferrosilicon from Russia. Also, for the Silicon and Ferrosilicon industry, Russia and Ukraine Wars may mainly affect the steel market and thus the industry. Ukraine and Russia are important black commodity suppliers in the world; Ukraine's iron ore reserves are 2.3 billion tons, accounting for 2.7% of the world; Russia's iron ore reserves are 14 billion tons, accounting for 16.5% of the world. In addition, Russia is an important exporter of pig iron, direct reduced iron, and steel scrap. Ukraine is also a major exporter of pig iron in the world. Products such as iron ore and pig iron are the main raw materials for steel production. The steel industry could be hit by a war between Russia and Ukraine which could lead to problems with the global supply of iron ore and pig iron. The impact on the steel industry may lead to a reduction in market demand for ferrosilicon. At the same time, the Russia and Ukraine Wars caused the cost of energy sources such as natural gas to rise. Especially in Europe, the outbreak of the Russia and Ukraine Wars led to a rise in natural gas prices and European energy prices. According to Eurostat data, as of July 2022, the annual growth rate of EU energy price inflation will reach 38.3%, of which the annual growth rate of natural gas and electricity price inflation will reach 52.2% and 31.1% respectively. Silicon and Ferrosilicon are high-energy-consuming industries, and the rise in energy costs increases the company's production and operation costs.

Opportunities

With the development of consumer electronics, automotive electronics, Internet of Things equipment and other fields, the semiconductor market continues to expand, driving the continued expansion of the polysilicon market. The ever-expanding polysilicon market has brought opportunities for the development of the silicon market.
With the development of construction, automobile, and machinery fields, the market scale of structural steel and plate steel has increased, which has promoted the increase in market demand for ferrosilicon. At the same time, the increase in the application scale of ferrosilicon in the magnesium metal market also brings opportunities for the development of the industry.

Threat

Environmental regulation is becoming more and more stringent. The production of Silicon and Ferrosilicon is also a highly polluting industry. At present, increasingly stringent environmental protection regulations require Silicon and Ferrosilicon manufacturers to reduce energy consumption and the generation of various waste pollutants, and strive to minimize resource consumption and minimize pollutant generation and emissions during the life cycle of products.

Materials such as quartz ore and coal are the main raw materials in the industry market, and the risk of price fluctuations of raw materials will bring risks to the production and operation of enterprises. Rising prices of raw materials will lead to increased production costs and reduced product profits.

Region Overview:

In 2022, the share of the Silicon and Ferrosilicon market in China stood at 54.84%.

Company Overview:

Inner Mongolia Eerduosi Resources Co., Ltd.'s main business is divided into two parts: metallurgy and chemical industry and cashmere clothing. In terms of power metallurgy and chemical industry, the company's business scope covers the development of coal and other mineral resources, electric power (heat energy), ferroalloy smelting, chlor-alkali chemical industry and other links. Among them, ferroalloy smelting business and chlor-alkali chemical industry are important sources of income for power metallurgy. Products include refined ferrosilicon, high-purity ferrosilicon, silicon-manganese alloys, calcium carbide, PVC, etc., the production and sales of ferrosilicon alloys rank among the top in the world.

China National BlueStar (Group) Co., Ltd. is a world-leading chemical materials and specialty chemicals company under Sinochem Holdings Co., Ltd. Since its inception, Bluestar has achieved rapid development relying on continuous innovation and reorganization and mergers and acquisitions. China National BlueStar (Group) Co., Ltd. has formed a complete silicon industry chain from metal silicon to downstream silicone special product applications through a series of mergers and acquisitions.

Inner Mongolia Eerduosi Resources Co.,Ltd. is one of the major players operating in the Silicon and Ferrosilicon market, holding a share of 9.02% in 2023.

Segmentation Overview:

Silicon
Silicon is a hard, brittle crystalline solid with a blue-grey metallic luster, and is a tetravalent metalloid and semiconductor. Silicon is a product smelted from silica and carbonaceous reducing agent in a submerged arc furnace.
Ferrosilicon
Ferrosilicon is an alloy of iron and silicon that is made by reducing silica in the presence of iron, and which plays an essential role in steelmaking.

By type, Silicon segment accounted for the largest share of market in 2022.

Application Overview:

Metallurgy
This field mainly refers to the application of metallurgical grade silicon in the field of aluminum alloys. Adding silicon in the aluminum alloy casting process can improve the high-temperature fluidity and wear resistance of the alloy, while reducing shrinkage and hot cracking tendency.
Chemicals
It refers to the further processing of silicon to produce organic silicon compounds, such as silicon chloride.
Semiconductors
It refers to the further processing of silicon into polysilicon, which is finally made into silicon wafers for the production of semiconductors and integrated circuits.
Ferrous Foundry
Ferrous foundries process a wide range of alloys/materials for a variety of applications through the process of melting and casting metal and obtaining desired shape and properties through the predesigned mold. Ferrosilicon is widely used as an inoculant and nodularizer in the field of cast iron.

By application, the Steel Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Silicon and Ferrosilicon market covered in Chapter 3:

Inner Mongolia Eerduosi Resources Co.,Ltd.
Inner Mongolia Junzheng Energy & Chemical Group Co.,Ltd.
Zhejiang Xinan Chemical Industrial Group Co., Ltd.
AMG Advanced Metallurgical Group N.V.
Ferroglobe PLC
East Hope Group.
The Rima Group
Simcoa
Hoshine Silicon Industry Co., Ltd.
China National BlueStar (Group) Co., Ltd.
Sinkiang Jingxin Silicon Industry Co., Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Silicon and Ferrosilicon market from 2018 to 2029 is primarily split into:

Silicon
Ferrosilicon

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Silicon and Ferrosilicon market from 2018 to 2029 covers:

Metallurgy
Chemicals
Semiconductors
Ferrous Foundry
Steel Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)