Silicon Price Trend

Silicon Prices December 2023

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.

Silicon Price Trend, Market Analysis, and News

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.

It encompasses an in-depth review of spot price of silicon at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of silicon price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing silicon price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Silicon Market Analysis

The global silicon market size reached US$ 7.65 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 10.52 Billion, at a projected CAGR of 0.036% during 2023-2032.

• The increasing utilization of silicon in semiconductors and photovoltaic cells is impelling the market growth. Silicon is a crucial component that is used to manufacture solar panels and technological equipment. People are widely utilizing advanced electronic devices and renewable energy sources. Silicon is a suitable material that is used to produce transistors, integrated circuits, and microchips. These parts are further employed in computers, smartphones, and other electronic devices. Apart from this, solar panels that use crystalline silicon cells turns sunlight into electricity that helps to encourage the usage of renewable energy sources. According to the IMARC Group, the global market for solar cells is expected to hit US$ 406.7 billion in 2032.
• Continuous advancements in silicon-based technology such as silicon photonics and silicon carbide (SiC) devices, are expanding the applications of silicon, particularly in high-performance and energy-efficient electronics.
• Silicon is also becoming increasingly popular in the automotive sector. Silicon is incorporated in battery and power electronics to enhance the performance and efficiency of electric vehicles (EVs). Silicon carbide (SiC) components are beneficial for improving energy efficiency in EV systems. Furthermore, advanced driver-assistance systems (ADAS) and autonomous driving technologies is dependent on silicon-based sensors and microelectronics.
• Besides this, silicon production is showing an upward trajectory as a result of its growing adoption in the construction sector. It is suitable material to produce silicones, which are essential in construction for sealants, adhesives, coatings, and insulation materials because of its durability and resistance to extreme conditions.
• The market share is also expanding due to silicon's increased demand in the medical sector. It is an essential part of many implants and medical devices like catheters, prostheses, and other medical devices because of its biocompatibility. It is employed in the manufacturing of drug delivery systems and pharmaceutical excipients. Besides this, silicone dressings are also used in wound treatment to lessen scarring and encourage healing.

Silicon News

The report covers the latest developments, updates, and trends impacting the global silicon market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the silicon price trend.

Latest developments in the silicon industry:

• In 15 May 2024, Shin-Etsu Chemical Co., Ltd. decided to establish a new company, Shin-Etsu Silicone (Pinghu) Co., Ltd., in Zhejiang Province, China, and construct a new silicone products plant to expand its silicone business.

Product Description

Silicon is a nonmetallic chemical element in the carbon family that belongs to the group 14 [IVa] of the periodic table. It is the second most abundant element in the Earth’s crust and is widely used to manufacture alloys such as aluminium-silicon and ferro-silicon (iron-silicon). It has an 14 atomic number, 1414°C, 2577°F, 1687 K melting point, and 3265°C, 5909°F, 3538 K boiling point. It has a crucial role in Portland cement for providing enhanced cement strength. Because of its ability to strengthen bones and improve the condition of the skin, hair, and nails, it can be taken as a dietary supplement.

Apart from this, silicon is a strong and resilient material with a wide range of industrial and structural uses. It offers products more strength and durability resistance, thereby extending their lifespan.

Regional Coverage

The report provides a detailed analysis of the silicon market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the silicon price trend.

Global Silicon Price

The report offers a holistic view of the global silicon pricing trends in the form of silicon price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of silicon but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed silicon demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Silicon Price

Europe's silicon pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence silicon production costs. Additionally, the region's dependency on silicon imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for silicon can also be provided for an extensive list of European countries.

North America Silicon Price

In North America, silicon prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence silicon supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific silicon historical data within the United States and Canada can also be provided.

Middle East and Africa Silicon Price

The silicon pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global silicon supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Silicon Price

In the Asia Pacific region, silicon pricing dynamics, particularly in China, displayed a complex pattern. Initially, prices were under pressure due to an overabundance in supply and a subdued demand from downstream sectors like polysilicon, organic silicon, and aluminum alloys.

This silicon price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Silicon Price

Latin America's silicon market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in silicon prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing silicon pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of silicon pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting silicon price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The silicon price charts ensure our clients remain at the forefront of the industry.