Silicon and Ferrosilicon: A Global Strategic Business Report
San Jose, California (PRWEB) September 17, 2014
Follow us on LinkedIn – Although silicon and ferrosilicon are manufactured using the same process and are characterized by more or less similar physical properties, they have very diverse applications. While silicon is used in the production of metallurgy metals such as aluminum, chemicals, semiconductors and other products; ferrosilicon mainly finds application in the production of iron, steel and magnesium. Silicon metal is one of the most important inorganic materials used in a range of end-use industries. Valued for its metallic and non-metallic characteristics, silicon is utilized extensively in the primary and secondary aluminum industries and chemical industry. The form of silicon metal utilized in the aluminum and chemical industry is distinctively different, influenced to a large extent by each industry’s unique needs and requirements. Ferrosilicon, an alloy of iron and silicon is widely used in molten crude steel as a de-oxidizing agent. It is usually added to steel to enhance its corrosion-resistance and electrical conductivity properties.
Growing GDP rates, rising disposable income levels, recovering economic conditions, and rapid rates of industrialization, urbanization and westernization in developing countries are driving growth in demand for silicon-based products from various end-use industries. Rising use of silicon for the production of aluminium alloys that find application in the automotive sector; and burgeoning growth in automobiles production in China and other emerging nations are triggering growth in silicon demand. Growing demand for polysilicon in photovoltaic solar panels driven by government incentives formulated to encourage wider penetration of solar power represents another prime factor driving growth in demand worldwide. Robust demand for silicon based semiconductor materials supported by rising proliferation of advanced gadgets and electronic devices worldwide also bodes well for market expansion in the long run.
Rising usage of silicon-rich construction steel represents a key growth promoter for the global ferrosilicon market. Steel industry represents the largest end-use sector for ferrosilicon as it increases hardness and durability in stainless steel, provides elasticity in spring steels, and reduces electrical conductivity in electrical steels, in addition to increasing scale resistance in heat resistant steels. Global demand for ferrosilicon will also be driven by its application in de-carburising molten grey iron in the production of foundry castings and also in the production of magnesium. Surging ahead at a CAGR of 8.5% over the analysis period, ferrous foundry represents the fastest growing end-use application for ferrosilicon.
As stated by the new market research report on Silicon and Ferrosilicon, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a CAGR of 8.9% over the analysis period. Growth in the region is largely spearheaded by China, which emerged as the largest producer and consumer of silicon and ferrosilicon over the years. Expanding steel and automobile production along with increasing demand for photovoltaic modules to harness solar energy represent other factors driving demand for silicon and ferrosilicon in the region.
Key companies covered in the report include AMG Advanced Metallurgical Group N.V., China National BlueStar (Group) Co., Ltd., The Lanzhou BlueStar Silicon Materials Co., Ltd., Elkem AS, Dow Corning Corporation, Hemlock Semiconductor Corporation, Erdos Xijin Kuangye Co., Ltd., Evonik Industries AG, Ferroatlantica Group S.A., Globe Specialty Metals, Inc., Globe Metallurgical Inc., Mitsubishi Materials Corporation, Mitsubishi Polysilicon America Corporation, REC Silicon ASA, Simcoa (Silicon Metal Company of Australia) Operations Pty Ltd., Shin-Etsu Chemical Co. Ltd., Sinosteel Zunyi Ferroalloy Co., Ltd. , The FESIL Group, The Rima Group, and Wacker Chemie AG, among others.
The research report titled “Silicon and Ferrosilicon: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, issues, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections in metric tons for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), the Middle East and Latin America. End-use applications analyzed for Silicon include Metallurgy, Chemicals, Semiconductors, and Others. Major end-use applications analyzed for Ferrosilicon include Ferrous Foundry, Steel Industry, and Others.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Silicon_and_Ferrosilicon_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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