{"id":55993,"date":"2024-06-11T08:39:29","date_gmt":"2024-06-11T08:39:29","guid":{"rendered":"https:\/\/english.saigonbiz.com.vn\/2024\/06\/11\/silicon-tetrachloride-market-to-surpass-3-33-billion-by-2031-at-a-cagr-of-3-7-says-coherent-market-insights\/"},"modified":"2024-06-11T08:39:29","modified_gmt":"2024-06-11T08:39:29","slug":"silicon-tetrachloride-market-to-surpass-3-33-billion-by-2031-at-a-cagr-of-3-7-says-coherent-market-insights","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/silicon-tetrachloride-market-to-surpass-3-33-billion-by-2031-at-a-cagr-of-3-7-says-coherent-market-insights\/","title":{"rendered":"Silicon Tetrachloride Market to surpass $3.33 billion by 2031, at a CAGR of 3.7%, says Coherent Market Insights"},"content":{"rendered":"
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The global Silicon Tetrachloride Market, valued at $2.58 billion in 2024, is on a trajectory of rapid expansion, with projections indicating it will soar to $3.33 billion by 2031, as per a recent report by Coherent Market Insights. Companies covered: Tokuyama Chemicals Co. Ltd, Evonik Industries, PCC Group, Shandong Xinlong Group Co Ltd, Air Products and Chemicals, Inc, Momentive Specialty Chemicals Inc., Merck KGaA, Dow Corning, ATCO, Hemlock Semiconductor Corporation, Reade International Corp, Alfa Aesar, Vizag Chemicals, Ennore India Chemicals, and RX CHEMICALS<\/em><\/p>\n

Burlingame, June 11, 2024 (GLOBE NEWSWIRE) — The global silicon tetrachloride market<\/a> size was valued at US$ 2.58 Billion in 2024 and is expected to reach US$ 3.33 Billion by 2031, growing at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Rising demand for consumer electronics such as smartphones, laptops, tablets along with industrial electronics is driving the sales of semiconductors which in turn is propelling the silicon tetrachloride market growth.<\/p>\n

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Market Dynamics: <\/strong><\/p>\n

The silicon tetrachloride market is driven by increasing demand from the semiconductor industry. Silicon tetrachloride is used as a raw material for manufacturing polysilicon which finds widespread application in semiconductor wafers fabrication. According to Semiconductor Industry Association, the semiconductor industry enjoyed sales revenue of $426 billion in 2019. Growing application of semiconductors across various end use industries such as automotive, consumer electronics etc is expected to fuel the demand for polysilicon, which in turn will propel the silicon tetrachloride market growth during the forecast period. In addition, silane gas which is derived from silicon tetrachloride is extensively used in production of silicone sealants, elastomers and resins. Growing construction activities worldwide is slated to further assist market growth over the forecast period.<\/p>\n

Request Sample Report: <\/strong>https:\/\/www.coherentmarketinsights.com\/insight\/request-sample\/6967<\/a><\/p>\n

Market Trends: <\/strong><\/p>\n

Adoption of green production technologies: Major players in the silicon tetrachloride market are focusing on adoption of green production technologies to lower production costs and reduce environmental footprint. For instance, in 2019, Evonik Industries AG developed a novel low energy process for production of silicon tetrachloride that significantly reduces carbon emissions.<\/p>\n

Growing demand for photovoltaics: Rapid growth of renewable energy industry is augmenting the demand for solar photovoltaic cells globally. Silicon tetrachloride acts as a raw material in the manufacturing of silicon wafers that are used in solar PV cells. According to International Renewable Energy Agency, global solar PV installation grew at an annual rate of 31% between 2015 to 2019. This rising installation of solar panels will positively influence the demand for silicon tetrachloride over the forecast period.<\/p>\n

Silicon Tetrachloride Market Report Coverage<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Report Coverage<\/td>\nDetails<\/td>\n<\/tr>\n
Market Revenue in 2024<\/td>\n$2.58 billion<\/td>\n<\/tr>\n
Estimated Value by 2031<\/td>\n$3.33 billion<\/td>\n<\/tr>\n
Growth Rate<\/td>\nPoised to grow at a CAGR of 3.7%<\/td>\n<\/tr>\n
Historical Data<\/td>\n2019\u20132023<\/td>\n<\/tr>\n
Forecast Period<\/td>\n2024\u20132031<\/td>\n<\/tr>\n
Forecast Units<\/td>\nValue (USD Million\/Billion)<\/td>\n<\/tr>\n
Report Coverage<\/td>\nRevenue Forecast, Competitive Landscape, Growth Factors, and Trends<\/td>\n<\/tr>\n
Segments Covered<\/td>\nBy Grade Type, By Application<\/td>\n<\/tr>\n
Geographies Covered<\/td>\nNorth America, Europe, Asia Pacific, and Rest of World<\/td>\n<\/tr>\n
Growth Drivers<\/td>\n\u2022 Growing semiconductor industry<\/p>\n

\u2022 Rising solar PV installations<\/td>\n<\/tr>\n

Restraints & Challenges<\/td>\n\u2022 Rising competition from alternative materials & strict environmental regulations<\/p>\n

\u2022 Health and safety issues<\/td>\n<\/tr>\n<\/table>\n

Market Opportunities:<\/strong><\/p>\n

The technical grade segment is expected to hold the largest share of the global silicon tetrachloride market during the forecast period. Technical grade silicon tetrachloride is mainly used for producing fumed silica. Fumed silica finds wide applications in industries such as paints & coatings, unsaturated polyester resins, fluoroelastomers, and silicone rubber. The growing demand from these end-use industries is expected to drive the growth of the technical grade silicon tetrachloride segment.<\/p>\n

The polysilicon derivatives segment is anticipated to witness significant growth over the forecast period. Polysilicon is mainly used in the solar photovoltaic industry for manufacturing solar cells and modules. The increasing installation of solar panels across the world due to supportive government policies and rising concerns regarding environmental pollution is significantly contributing to the growth of the polysilicon derivatives segment.<\/p>\n

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Key Market Takeaways<\/strong><\/p>\n

The global silicon tetrachloride market size was valued at USD 2.58 Bn in 2024 and is anticipated to witness a CAGR of 3.7% during the forecast period 2024-2031. The market is expected to grow at a steady rate due to the rising demand for polysilicon from the solar PV industry.<\/p>\n

On the basis of grade, the technical grade segment is expected to hold a dominant position owing to widespread applications in industries such as paints & coatings and silicone rubber production.<\/p>\n

In terms of derivatives, the polysilicon segment is anticipated to account for the largest share during the forecast period due to increasing solar PV installations globally.<\/p>\n

Based on application, the optic fiber preform segment captured the largest market share in 2024 primarily due to exponential growth in the telecommunication industry.<\/p>\n

Regionally, North America held the largest share of the global silicon tetrachloride market in 2024 mainly due to strong presence of manufacturers in the US.<\/p>\n

Some of the leading players operating in the silicon tetrachloride market include Momentive Performance Materials, Heraeus Holding, OCI, Wacker Chemie AG, Hemlock Semiconductor, and GCL-Poly. These players are adopting various organic and inorganic growth strategies to strengthen their geographic presence during the forecast period.<\/p>\n

Recent Developments:<\/strong><\/p>\n

In July 2014, Evonik Industries and GCL-Poly Energy Holdings Limited (GCL-Poly) formed a joint venture for the production of ultra-pure silicon tetrachloride and fumed silica in China.<\/p>\n

Customize this study as per your requirement: <\/strong>https:\/\/www.coherentmarketinsights.com\/insight\/request-customization\/6967<\/a><\/p>\n

Detailed Segmentation-<\/strong><\/p>\n

By Grade Type:<\/strong><\/p>\n