Why did the Silicon Metal Price Change in May 2025? The Silicon Metal Price Index in the US market settled in Q1 2025 at USD 2,751/MT CFR Illinois Port, showcasing continuous upward pressure throughout the quarter.

In 2024, the average price of ferrosilicon with 75 percent silicon content came to *** U.S. cents per pound, and silicon metal prices averaged 180 U.S. cents per pound. Silicon alloys and metals are important in various industries. Ferrosilicon is commonly used in ferrous foundries and steel industries, whereas silicon metal is often used for aluminum, aluminum alloys, and the chemical industry. Silicon is also often used for semiconductors in solar panels, computer chips, and as a part of the automotive industry. Silicon facts Pure silicon appears as a blue-grey metallic solid. Silicon is most commonly found paired with oxygen, forming silica. China produces a large percentage of the world’s silicon supply, contributing to about *** million metric tons in 2024. In comparison, Russia – the second largest producer worldwide – produced about ******* metric tons in the same year. U.S. silicon exports and consumption About ****** metric tons of silicon metal and ***** metric tons of ferrosilicon were exported from the United States in 2023. Meanwhile, consumption of silicon in the North American country averaged roughly ******* metric tons in recent years. Silicon is a diverse element, accounting for about 30 percent of the Earth’s crust and is one of the most abundant elements. Its versatility affords great use from the industrial sector. It is commonly used in the electronics industry, as part of cylinder heads or machine tools. It is also used in the commercial sector, for example, as an oil in cosmetics and hair conditioners.

In the second quarter of 2024, metal silicon prices in the United States reached 2474 USD/MT in June. Stable industrial demand, particularly from the solar and automotive sectors, together with balanced supply, influenced this pricing. Year-on-year growth was remarkable, due to economic developments and advancements in technology, indicating a strong market environment.

Learn about the current market price of silicon metal and how it varies by location, purity level, and supply and demand. Keep up with the latest global economic and political developments that can impact this important material.

In the fourth quarter of 2024, the North American silicon metal market experienced a marginal price decrease of 0.4% compared to the previous quarter, reflecting a stable yet cautious market environment. Supply remained moderate, supported by preemptive inventory management and reduced production from Chinese smelters. Freight rate reductions for trans-Pacific shipments also helped stabilize costs, despite logistical challenges caused by weather disruptions and potential labor issues at U.S. ports.

Discover the various factors that influence the price of silicon metal, a versatile industrial material with unique properties, including global economic conditions and production costs.

Explore the volatility in silicon metal prices driven by supply chain disruptions, economic conditions, policy shifts, and the global push towards renewable energy. Understand the factors impacting industries like electronics, automotive, and solar energy.

Get the latest insights on price movement and trend analysis of Silicon in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Learn how disruptions in the supply chain caused by the COVID-19 pandemic and growing demand for silicon metal in various industries led to a significant increase in the price of silicon metal in 2021, reaching its peak in September.

The global silicon metal material market, valued at $8429.9 million in 2025, is poised for substantial growth. While a precise CAGR isn't provided, considering the strong drivers in the aluminum industry, solar energy sector (photovoltaic solar cells), and electronics (semiconductors), a conservative estimate of a 5-7% CAGR from 2025-2033 is reasonable. This growth is fueled by several factors. The increasing demand for lightweight materials in the automotive and aerospace industries is significantly boosting the consumption of silicon metal in aluminum production. Simultaneously, the rapid expansion of the renewable energy sector, particularly solar power, is creating a strong demand for high-purity silicon for photovoltaic solar cells. Further bolstering the market is the escalating need for silicon-based semiconductors in electronic devices and components, driving demand for chemical-grade silicon. Geographic growth will be diverse, with Asia-Pacific, particularly China and India, expected to be key contributors due to their robust manufacturing sectors and significant investments in renewable energy infrastructure. However, challenges such as fluctuating raw material prices and environmental concerns related to silicon metal production may act as potential restraints to growth. The market segmentation highlights significant opportunities. Metallurgy-grade silicon dominates the type segment, due to its widespread use in aluminum alloys and steel production. However, the chemical-grade silicon segment is anticipated to exhibit faster growth due to its applications in high-value sectors like solar and electronics. By application, the photovoltaic solar cells segment is projected to witness substantial expansion in the forecast period, driven by increasing global efforts to transition to cleaner energy sources. Leading companies like Elkem Silicones, Wacker Chemie, and G.S. Energy are expected to leverage their technological expertise and established market presence to further consolidate their market shares. The competitive landscape is characterized by both large multinational corporations and regional players, resulting in a dynamic and evolving market structure. Overall, the silicon metal material market presents a promising investment opportunity, driven by the long-term growth of key end-use industries. This comprehensive report provides an in-depth analysis of the global silicon metal material market, projected to be valued at over $XX billion by 2028. We delve into the intricacies of production, consumption, and market dynamics, offering invaluable insights for industry stakeholders, investors, and researchers. The report leverages extensive primary and secondary research to provide a nuanced understanding of this crucial material's role in diverse sectors.

The Global Silicon Metal Market Report is Segmented by Product Type (Metallurgy Grade and Chemical Grade), Application (Aluminum Alloys, Semiconductors, Solar Panels, Stainless Steel, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Report Offers Market Size and Forecast in Volume (tons) for all the Above Segments.

Metallurgical Grade Silicon Metal Market Outlook

The global metallurgical grade silicon metal market is poised for significant growth, with the market size estimated to reach USD 7.8 billion in 2023 and projected to grow to USD 12.3 billion by 2032, reflecting a compound annual growth rate (CAGR) of 5.2%. This robust growth is driven by increasing demand across various industries, including automotive, electronics, and energy sectors, particularly in emerging markets. The versatility of metallurgical grade silicon metal as a crucial component in many applications coupled with technological advancements in production processes is also contributing to this upward trend.

One of the key growth factors propelling the metallurgical grade silicon metal market is the burgeoning demand from the automotive industry. The automotive sector's shift towards electric vehicles (EVs) necessitates high-efficiency aluminum alloys, which heavily rely on metallurgical grade silicon metal. This trend is expected to intensify as global policies increasingly favor low-emission and eco-friendly transportation options, thereby boosting the demand for silicon metal. Additionally, advancements in lightweight vehicle design to improve fuel efficiency further spur the need for silicon-enhanced aluminum alloys.

Technological advancements in electronics and semiconductor industries are also substantial growth drivers. Metallurgical grade silicon metal is a critical raw material in the production of semiconductors, solar panels, and other electronic devices. The rise of the Internet of Things (IoT), 5G technology, and increased consumer electronics manufacturing are fueling the demand for high-purity silicon. Solar power generation, driven by global renewable energy initiatives and policies, demands high-quality silicon metal for photovoltaic cells, thereby enhancing market growth.

The chemical processing sector is another significant contributor to the market expansion. Metallurgical grade silicon metal serves as a fundamental component in the production of silicones and silanes, which are pivotal in various industrial applications, including the manufacturing of sealants, adhesives, and lubricants. As industries continuously seek cost-effective and high-performance materials, the chemical processing sector's reliance on silicon metal is anticipated to grow, further propelling market expansion.

Regionally, Asia Pacific dominates the metallurgical grade silicon metal market, driven by rapid industrialization and urbanization. Countries like China and India are major consumers due to their substantial electronics manufacturing bases and extensive automotive industries. North America and Europe also represent significant markets, with growth driven by technological advancements and increasing investments in renewable energy sources. Emerging markets in Latin America and the Middle East & Africa are expected to exhibit moderate growth rates, supported by infrastructure development and industrialization efforts.

Purity Level Analysis

In analyzing the metallurgical grade silicon metal market by purity level, the segments include 96-98%, 98-99%, and 99% and above. The 96-98% purity segment caters primarily to applications requiring silicon with moderate purity levels, such as basic aluminum alloys and some chemical processing tasks. This segment remains significant due to the cost-efficiency it offers for less demanding applications. The automotive sector frequently utilizes this purity level for components where ultra-high purity is not crucial but cost-effectiveness is essential.

The 98-99% purity level segment is extensively employed in more refined applications requiring higher silicon content. This segment finds substantial use in the production of advanced aluminum alloys, which require higher purity levels to ensure performance and durability. This is particularly relevant in the automotive industry, where the focus is on producing lightweight yet strong materials for vehicle manufacturing. Additionally, this purity level supports the electronics industry, where moderate purity silicon is sufficient for certain semiconductor and electronic component manufacturing processes.

The 99% and above purity level segment represents the highest demand and is crucial for applications requiring ultra-high purity silicon. This segment is pivotal for the semiconductor and photovoltaic industries, where the quality and performance of silicon are paramount. High-purity silicon is essential for the efficient functioning of semiconductors and solar panels, m

The global silicon metal market is experiencing robust growth, projected to reach a value of $9,606 million in 2025, expanding at a Compound Annual Growth Rate (CAGR) of 6.4% from 2025 to 2033. This significant expansion is driven by several key factors. The burgeoning solar energy sector, fueled by the global push towards renewable energy sources, is a major driver, with photovoltaic solar cells representing a substantial portion of silicon metal consumption. Furthermore, increasing demand from the aluminum industry, where silicon metal acts as an alloying agent improving properties like strength and castability, contributes to market growth. The electronics industry's continued reliance on silicon-based semiconductors further supports this positive market trajectory. Growth is also fueled by advancements in silicon metal production techniques leading to increased efficiency and reduced costs, making it a more competitive material in various applications. While challenges such as fluctuating raw material prices and environmental regulations exist, the overall market outlook remains optimistic, with consistent growth anticipated throughout the forecast period. Regional variations exist, with Asia Pacific, specifically China, projected to maintain its dominant position due to its substantial manufacturing base and considerable solar energy investments. North America and Europe are also expected to exhibit considerable growth, driven by increasing demand from the electronics and automotive sectors. The continued expansion of the renewable energy sector globally, coupled with technological advancements and strategic investments in silicon metal production, ensures a promising future for this market. The competitive landscape features several key players including Ferroglobe, Elkem, and Wacker Chemie, all engaging in strategic expansion and innovation to maintain their market share in this thriving industry. Diversification into niche applications and geographic expansion will likely shape future market dynamics.

In the fourth quarter of 2023, the price of silicon in the USA reached 2207 USD/MT by December. Similarly, in China, the silicon prices hit 2044 USD/MT in the same month. Germany also saw silicon prices reaching 2169 USD/MT during Q4 2023.

Explore IMARC’s newly published report, titled “Silicon Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of silicon pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Explore the significance of the silicon metal price index in tracking price fluctuations of silicon metal, an industrial commodity crucial for electronics, automotive, and renewable energy sectors. Understand how supply-demand dynamics and global economic conditions affect this versatile material. Learn why monitoring the index is essential for informed decision-making in the commodities market.

According to Cognitive Market Research, the global metallurgical silicon market size is USD 6351.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

The global metallurgical silicon market will expand significantly by 5.00% CAGR between 2024 to 2031.
North America held the major market of around 40% of the global revenue with a market size of USD 2540.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 1905.36 million and will grow at a CAGR of 3.5% from 2024 to 2031. Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1460.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America market of around 5% of the global revenue with a market size of USD 317.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 127.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 142.42 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031
The 98-99% is the fastest growing segment of the Metallurgical Grade Silicon Metal industry

MARKET DYNAMICS:

KEY DRIVERS

Increasing Industrial Activities across the World to Increase the Sales Increasing industrial activities across the world are poised to significantly bolster sales in the metallurgical silicon market. As economies continue to grow and develop, there is a rising demand for metallurgical silicon across a wide array of sectors. Industries such as construction, automotive manufacturing, electronics, and energy production heavily rely on metallurgical silicon for various applications. This demand is driven by the need for durable materials with specific properties such as high thermal conductivity, low coefficient of thermal expansion, and excellent corrosion resistance. Moreover, the expansion of infrastructure projects, particularly in developing regions, further amplifies the need for steel and other silicon-based alloys, thus contributing to the growth of the metallurgical silicon market. As industrialization progresses and new markets emerge, the demand for metallurgical silicon is expected to continue its upward trajectory, creating lucrative opportunities for market players. Continuous Innovations in Metallurgical Processes and Silicon Production Techniques to Propel the Market Continuous innovations in metallurgical processes and silicon production techniques play a pivotal role in propelling the metallurgical silicon market forward. These advancements drive efficiency improvements, cost reductions, and quality enhancements throughout the production chain. Technological breakthroughs enable the extraction of silicon with higher purity levels, meeting the stringent requirements of various industries. Additionally, innovations in refining methods contribute to minimizing impurities and optimizing material properties, making metallurgical silicon even more versatile and desirable for end-users. Furthermore, advancements in sustainable manufacturing practices, such as recycling and cleaner production methods, align with global environmental initiatives and attract environmentally conscious consumers. As research and development efforts persist, new techniques emerge, offering novel solutions and expanding the application scope of metallurgical silicon. This continuous evolution fosters market growth, as industries seek cutting-edge materials to address evolving challenges and capitalize on emerging opportunities. Fluctuations in Demand from Key Industries to Limit the Sales Fluctuations in demand from key industries pose a significant challenge, limiting sales in the metallurgical silicon market. Industries such as automotive, construction, and electronics, which are major consumers of metallurgical silicon, can experience cyclical demand patterns influenced by economic conditions, consumer preferences, and technological advancements. For example, a slowdown in automotive production or a downturn in the construction sector can lead to decrease...

The global silicon metal market, valued at $7.76 billion in 2025, is projected to experience robust growth, driven by increasing demand from the solar energy and aluminum industries. A Compound Annual Growth Rate (CAGR) of 5.2% is anticipated from 2025 to 2033, indicating a significant expansion in market size. Key drivers include the rising adoption of renewable energy sources, particularly solar photovoltaic (PV) panels, which heavily rely on high-purity silicon metal. Furthermore, the aluminum industry's continued reliance on silicon metal as an alloying agent contributes significantly to market growth. While supply chain disruptions and fluctuations in raw material prices pose challenges, technological advancements in silicon production are expected to mitigate these risks. The market is segmented by type (metallurgical grade, solar grade) and application (aluminum alloys, silicon chemicals, solar energy). Leading companies such as Dow Inc., Elkem ASA, and Shin Etsu Chemical Co. Ltd. are investing heavily in research and development to improve efficiency and expand their product portfolio, enhancing their market positioning through vertical integration and strategic partnerships. Regional variations in market growth are anticipated, with Asia-Pacific, particularly China, expected to dominate due to its robust manufacturing sector and substantial solar energy initiatives. North America and Europe are expected to witness steady growth, fueled by government support for renewable energy projects and increasing awareness of sustainability initiatives. The competitive landscape is marked by both large multinational corporations and smaller regional players, leading to a dynamic market environment characterized by ongoing innovation and consolidation. The forecast period (2025-2033) will likely see increasing consolidation within the silicon metal market, with larger players acquiring smaller companies to gain access to new technologies, expand their geographical reach, and secure raw material supplies. The market’s growth trajectory will heavily depend on the continued expansion of the solar energy industry and the stability of raw material prices. Technological advancements, such as the development of more efficient silicon production methods and improved purity levels, will play a crucial role in shaping the market’s future. Emerging markets in developing economies are anticipated to contribute significantly to market expansion, driven by increased industrialization and rising energy demands. However, environmental regulations and sustainability concerns related to silicon metal production will need to be addressed to ensure responsible and sustainable market growth. Overall, the outlook for the silicon metal market remains positive, promising substantial growth opportunities for both established players and new entrants over the coming decade.

Snapshot img

Silicon Metal Market Size 2024-2028

The silicon metal market size is forecast to increase by USD 2.24 billion at a CAGR of 5.2% between 2023 and 2028.

The market is experiencing significant growth due to the increasing demand for aluminum-silicon alloys in various industries, particularly in the automotive and construction sectors. This trend is being driven by the growing preference for lightweight and durable materials in vehicle manufacturing and infrastructure development. Furthermore, investment opportunities in emerging economies, such as China and India, present a lucrative market for silicon metal producers. Textile companies in the fashion hub also use silicon metal In their fabric manufacturing processes. However, the high production cost of silicon metal, primarily due to the energy-intensive process of smelting, poses a significant challenge to market growth. Producers are exploring alternative production methods and cost-effective sources of raw materials to mitigate this challenge and maintain competitiveness In the market.

What will be the Size of the Silicon Metal Market During the Forecast Period?

Request Free Sample

The market is driven by the diverse applications of silicon in various industries, including the electronic sector for semiconductor manufacturing, water treatment for purification, and the production of hydrogen peroxide as a bleaching agent and disinfectant. The hydrogen peroxide industry is a significant consumer of silicon metal, with its production process involving the Hydrogen Peroxide-Propylene Oxide (HPO) process. However, supply chain disruptions due to raw material availability and production challenges can impact the market's growth. It is also used In the production of concentrated forms of hydrogen peroxide for industrial applications, such as In the pulp and paper industry for effluent color removal and odor control.



In the health sector, diluted hydrogen peroxide solutions are used as antiseptics for treating skin cuts, bruises, and infections. Hydrogen peroxide's antiseptic properties make it an essential component in various disinfectant products, including mouth rinses and oral care items. Despite its widespread use, the production and handling of hydrogen peroxide involve potential health hazards, including respiratory issues and skin irritation. Therefore, guidelines and regulations are in place to ensure the safe handling and disposal of hydrogen peroxide and its by-products. The market's growth is also influenced by the increasing demand for eco-friendly and recyclable pulp and paper products, as well as the ongoing research and development efforts to improve the efficiency and safety of the production processes.

How is this Silicon Metal Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Metallurgy grade
  Chemical grade


Application

  Aluminum alloys
  Semiconductors
  Solar panels
  Stainless steel
  Others


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe



  South America



  Middle East and Africa

By Type Insights

The metallurgy grade segment is estimated to witness significant growth during the forecast period.

The market primarily focuses on the production of metallurgical-grade silicon, which is a high-purity form used in aluminum alloy manufacturing. With a purity level of approximately 98-99%, this type of silicon caters to the automotive and aerospace industries, where lightweight aluminum alloys offer fuel efficiency and emission reduction benefits. Hydrogen Peroxide, a byproduct In the HPPO process, is a crucial component In the production of metallurgical-grade silicon. Supply chain disruptions, however, pose challenges to market growth. In various industries, including electronics, water treatment, textiles, and healthcare, they function as a bleaching agent, disinfectant, and hygiene product. Its antiseptic properties make it an essential component in dental bleach, hair bleaching, mouthwash, and oral hygiene products.

In the food processing sector, they contribute to the whiteness, clarity, and bleaching substances in processed food and packaged edibles. Despite its numerous applications, health hazards associated with silicon metal, such as skin cuts, bruises, and infections, necessitate adherence to guidelines in public areas, commercial buildings, and transportation hubs.

Get a glance at the Industry report of share of various segments Request Free Sample

The metallurgy grade segment was valued at USD 3.28 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contr

The global silicon metal market, valued at $6.444 billion in 2025, is projected to experience robust growth, driven by increasing demand from key sectors like the aluminum industry, solar energy, and electronics. A compound annual growth rate (CAGR) of 6.6% from 2025 to 2033 forecasts a significant market expansion, fueled by the burgeoning renewable energy sector's reliance on silicon-based photovoltaic solar cells. The rising adoption of electric vehicles and advancements in semiconductor technology are further contributing to this growth. Metallurgy-grade silicon remains the dominant segment, benefiting from its extensive use in aluminum alloys to enhance strength and durability. However, chemical-grade silicon is witnessing significant growth due to its increasing applications in silicone compounds and specialized chemical processes. Geographic distribution shows a strong concentration in Asia Pacific, particularly China, driven by its robust manufacturing base and substantial investments in renewable energy infrastructure. North America and Europe also represent significant markets, reflecting the established presence of key players and consistent demand from various industries. While raw material price fluctuations and environmental regulations pose some challenges, technological advancements and government support for green technologies are expected to mitigate these restraints and sustain market expansion. The competitive landscape is characterized by a mix of large multinational corporations and regional players. Companies like Wacker Chemie, Elkem, and others are actively investing in research and development to improve silicon production efficiency and explore novel applications. The industry is also witnessing increasing consolidation, with mergers and acquisitions expected to shape the future market dynamics. The forecast period indicates continued growth across all segments and regions, albeit at varying rates, reflecting the nuanced impact of industry-specific factors and regional economic conditions. The long-term outlook for silicon metal remains positive, projecting sustained growth fueled by technological advancements and global shifts towards sustainable energy solutions.

173 Global import shipment records of Metal Silicon with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.