Silicon Metal Market Regional Analysis

In 2023, the Asia Pacific accounted for the major silicon metal market share in the global. China with the largest aluminium alloy and metal producer also produces a large quantity of silicon and dominate the worldwide silicon metal market. Other countries like Japan and India with growing automobile sectors and progressing economic activity also dominate the global silicon metal market. At present, the increasing use of smartphones and other smart electronic gadgets propel the demand for silicon metal as it happens to be the major component in these products. All these factors will contribute to the growth of the global silicon metal market during the analysis period.

North America is anticipated to grow at a CAGR of more than 3% during the forecast period in the global silicon metal market. Due to increasing demand for electric vehicles and other automobiles, the use of lightweight high strength aluminium alloy is increasing in the reason and this will show positive silicon metal market growth in the region.