2023-2027 Silicon Metal Market Analysis

According to the analysis of Hainan West Asia Import and Export Group, from 2022 to 2027, the global silicon metal market size is expected to increase by US$2.03425 billion.

The market growth momentum will develop at a CAGR of 5.01% during the forecast period. Increasing demand for aluminum-silicon alloys is significantly driving the growth of the silicon metal market. The demand for these alloys in the automotive and transportation industry has increased significantly.

They are popular because they offer a unique combination of required properties, such as casting of complex shapes combined with a good strength-to-weight ratio, which gives these materials lower density and better mechanical properties than cast iron. Aluminum-silicon alloys are used in the production of sheet metal and wire for welding and brazing, and some piston alloys are used in extrusion forging materials.

Therefore, these factors drive the market growth over the forecast period.