Global High Purity Silicon Market Is Expected to Rise at A CAGR of 14.8% From The Year 2020-2027

September 03, 2021, New York, USA -  High purity silicon is used in the construction of semi-conductors and is one of the commonly used elements in the industry. The high purity silicon comes directly from the solid silica or the other silicon compounds. This method has been adopted as early as in the year 1954 and is still practiced. The reason is this method has the capacity to produce direct solar grade silicon. It is considered to be one of the purest elements manufactured globally.

The High Purity Silicon Market Forecast-

The Global High purity silicon market is expected to rise at a CAGR of 14.8% from the year 2020-2027. It will also register a growth of over $US 25 million. The ever growing demand from the semi-conductor industry is likely to catapult the growth and over the coming years. The high purity silicon is an essential component as it has high thermal conductivity, low density, and uniform electric behavior. They are very essential to gain the optimum level of performance for the conduction and the performance of the semi-conductor electricity.

The US industry accounted for nearly 89.3% of the global share in the market and this is going to increase in the forecast period from 2020-2027. The US market is also likely to maintain its market position in the coming years and create new and innovative designing and manufacturing of the semi-conductors.

It needs to be observed that the stability of the semiconductors electricity in the previous years has been responsible for the growth of the industry.

The regional analysis also suggests that Asia-Pacific will register the highest growth owing to the rising demand from electronics and the semi-conductor industries.  In South Asia, countries such as China, Taiwan, Japan, and South Korea are one of the top producing countries in terms of the high purity silicon market.

Asia Pacific has shown a growth of over 45 % in the forecast period from 2020-2027. The production of various consumer electronics is going to show a dramatic increase in the high purity silicon market. They are namely electronics, industrial electronics, computer hard ware and mobile phones.

The increase in the use of the electric vehicles and the growth of the renewable energy are one of the reasons to provide growth opportunities.

The companies in the South Korea are also in the development of the silicon technology and will remain a key driving factor in the long run. The rising utilization in the use of the technical applications is one of the driving factors for the increase in the high purity silicon market. Various technologies such as quantum computing, artificial intelligence and the 5G technology are responsible for new opportunities in the market.

The prominent companies in the High Purity Silicon market-

Washington Mills

Coors Tek Inc

Pacific Rundun

American Elements

LG innotek

Evonic industries

Canadian Metals INC

Nalco

Grace

Fuso Chemical

The above companies to remain in a dominant position can follow an inorganic strategy such as various mergers, acquisitions, partnership and various collaborations. Eventually the utility of the high purity silica has been steadily growing over the years and the reason is due to the electrical conductance of its properties.

The market restraints for the Global High Purity Silicon Market-

There are various market restraints for the Global high purity silicon market, and those are the rising cost of the innovative technologies, especially used for the designing and the manufacturing of the products. This can create various challenges for the US government in the coming years and can be a major market restraint.

However in the short term period from 2020-2022 onwards the market is expected to witness a sluggish growth due to the rising impact of the Covid 19 pandemic. There has been a considerable decline in the demand and the production of several automotive products along consumer electronics and industrial electronics. It is anticipated to hinder the growth and it is projected that the overall demand will witness a 2% decrease in the overall production level.

The high purity silicon also is helpful to use it as a substrate material for new generation light emitting didoes. The substrate material also is helpful for the light, brightness, color, and other various performance indicators.

The material also ensures very low levels of impurities during the manufacturing of the LED’S.

The global market of the High purity silicon belongs to a niche segment with very less numbers of manufacturers present in the market. The market in the past few times has also witnessed a certain growth in the market. Some top companies in this segment include-

Washington Mills

Coorstek INC

American Elements

LG innotek

There are various growth oppurtunitries in the market and they will witness a new and growing trend with the increasing use of consumer and electrical electronics and goods in the global market.