ALBANY, N.Y., Aug. 2, 2021 /PRNewswire/ — Silicon compounds have been initially commercialized on the back of wide application in steelmaking. Over the past two centuries, the applications have expanded markedly. The size of the silicon metal market has expanded continuously, driven by wide-ranging applications of the metallurgical silicon and also refined silicon. The demand has come notably from the electronics manufacturing companies. Aside from that, silicon metal has been used increasingly in making sealants, adhesives, lubricants, coatings, and polishes and cosmetics. Rise in demand for making vehicle bodies over the past few decades has helped propel strides of the market. A sizable demand for silicon has come from the uptake silicon minerals in various commercial applications. Rise in production of multiple aluminum-silicon alloys to meet the global demand in vehicle production has steadily enriched the silicon metal market ecosystem.
The wide-ranging applications of silicon metal will propel the market to advance at CAGR of 4.98% from 2019 to 2027 (the forecast period).
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Key Findings of Silicon Metal Market Study
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