United States, Rockville MD, Aug. 25, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global metallurgical grade silicon market is valued at US$ 6.7 billion in 2022 and is expected to rise at a CAGR of 4.1% during the forecast years of 2022-2032.
Metallurgical grade silicone is used to produce sun-oriented cells for further development of sunlight-based cell establishments. Its utilization in the metal business is set to support overall growth. The market is likely to grow on the back of mechanical advancements and the wider use of metallurgical grade silicon in the end uses of silicones and silanes.
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Metallurgical grade silicon is formed from silicon that is found in the form of silica in the Earth's crust. It is also known as MG Si and is a purified form of silicon, having a purity of around 98% or more. It finds wide application in end-use industries such as semiconductors, solar, etc., and is also used as a raw material.
MG Si is also used in the manufacturing of silanes and silicones, along with application in the chemical and personal care sectors.
Why is the Use of Metallurgical Grade Silicon Increasing Steadily?
"Rising Application of Metallurgical Grade Silicon across End-use Sectors"
Application of E-metallurgical grade silicon in the manufacturing and chemical industries is rising. For instance, it is used in semiconductors and sunlight-based industries. The assembly of sunlight-based cells requires refined metallurgical evaluation silicon in the form of crude material and it is also used to assemble different microelectronic gadgets.
Furthermore, electronic grade silicon is produced using a cleaner type of metallurgical silicon, which is then utilized to produce sunlight-based evaluation polysilicon. Thus, these wide scopes of use and application of metallurgical grade silicon will support market growth over the coming years.
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Key Segments Covered in the Metallurgical Grade Silicon Industry Survey
Prominent metallurgical grade silicon manufacturers are Baidao Silicon Industry Co., Ltd., Elkem ASA, HPQ Silicon Resources Inc., Ferroglobe, Silicor Materials, Mississippi Silicon, Canadian Metals, American Elements, Jiuzhou Silicon Industry Co., Ltd., Ardevur, Amalgamet Canada LP, PyroGenesis Canada Inc., Accrue Group Holdings, and Weden Metal Co., Limited.
Manufacturers of metallurgical grade silicon are looking to expand their manufacturing facilities on the back of rising demand from end-use sectors. Along with this, they are looking for ways to reduce manufacturing costs to improve their market stance over the coming years.
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Key players in the Metallurgical Grade Silicon Market
Key Takeaways from Metallurgical Grade Silicon Market Study
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