In 2022, global sales in the silicon tetrachloride market are projected to reach approximately USD 2,277.4 million. The industry is expected to experience a CAGR of 4.5% from 2022 to 2027.
Future Market Insights (FMI) has published a report titled “Silicon Tetrachloride & Derivatives Market: Global Industry Analysis 2012 – 2021 and Opportunity Assessment 2022 – 2027.” According to the report, the increasing demand for chemical intermediates is driving the growth of the silicon tetrachloride market. This compound is widely used as an intermediate in polysilicon production, which is essential for various industries, leading to its rising demand.
By the end of the forecast period, the global silicon tetrachloride market is anticipated to reach a valuation of over USD 2,846 million, maintaining a CAGR of 4.5% from 2022 to 2027.
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Growing Demand for Optic Cable to Bode Well for Market Growth
High purity silicon tetrachloride is a major raw material used for the manufacturing of optic cable preform, which is used in the manufacturing of optic cables. In the recent past, supported by the growth of 4G, 5G, LTE, FFTx and the IoT, there has been a significant increase in the demand for optic cables across the globe. China, U.S. and Japan constitute around 80% of total optic cable preform manufacturing and in terms of consumption, China accounted for nearly 58% of total optic fibre preform in 2022. A constantly increasing demand for optic cables will boost the demand for optic cable preform, which will subsequently drive the silicon tetrachloride market over the forecast period.
However, the government of China has imposed rules and regulations on the manufacturing of silicon tetrachloride, which is produced as a by-product during the production process of polysilicon. The government of China has imposed a minimum recycle rate of 98.5% on silicon tetrachloride and the initial capital cost of silicon tetrachloride recycling facility is high and the operating cost is high as well, which in turn, is increasing the price as well as limiting the supply of silicon tetrachloride. This might adversely affect the growth of the silicon tetrachloride market over the forecast period.
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Adoption of Silicon Tetrachloride to be High in China Among all Regions
The growing use of silicon tetrachloride in China can be attributed to the lucrative growth of the solar industry in the region. One of the core raw materials used in the manufacturing of solar panels is silicon tetrachloride. The focus on solar energy in the region is expected to spur the demand for silicon tetrachloride in the coming years. Moreover, the snowballing effect of the semiconductor industry and the rising progress of the paints and coatings industry is anticipated to increase the adoption of silicon tetrachloride in the region in the years ahead.
The increasing demand for chemical intermediate in the manufacturing industry is also expected to propel the demand for silicon tetrachloride in the region. However, the dependence of the region on cyclical end-use industries and the several restrictions imposed on silicon tetrachloride owing to harmful health impacts might slow down the growth of the market in the region.
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Evonik Industries to Emerge Undefeated
In 2021, Evonik Industries accounted for over 40% of the global market share and is expected to retain its dominance in the market over the course of the forecast period. The other companies operating in the market are Cabot Corp., Wacker Chemie AG, The Linde Group, DowDuPont Inc., Tokuyama Corporation, Air Liquide S.A., and OCI Company Ltd., among others.
Silicon Tetrachloride Market by Category
By Grade:
- Electronics Grade
- Technical Grade
By Application:
- Chemical Intermediate
- Trichlorosilane (Polysilicon)
- Fumed Silica
- Silicone Rubber
- Optic Fiber Preform
- Others
By Region:
- North America
- LAMEA
- Europe
- China
- India
- Japan
- South East Asia & Pacific
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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