The global market for silicon monoxide is poised for substantial growth, projected to increase from USD 135.8 million in 2024 to USD 362 million by 2034, marking a notable compound annual growth rate (CAGR) of 10.3%. This expansion underscores the widespread adoption of silicon monoxide across diverse industries.
Rising demand for electronic devices and components, particularly in sectors like consumer electronics, automotive, and telecommunications, is a primary driver fueling the silicon monoxide industry’s expansion. The trend towards smaller, lighter, and more powerful electronic devices has spurred demand for advanced semiconductor manufacturing processes, where silicon monoxide plays a pivotal role.
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In the automotive sector, there is a notable emphasis on enhancing the durability and performance of vehicle components, which has significantly boosted the demand for silicon monoxide coatings. As the automotive industry increasingly shifts towards electric vehicles, the necessity for advanced coatings offering superior corrosion resistance and reliability has further amplified the growth trajectory of the silicon monoxide market in this segment.
Additionally, global efforts to comply with stringent environmental regulations and reduce carbon footprints are expected to sustain the upward trajectory of silicon monoxide coatings’ demand. This environmental focus is anticipated to be a significant factor driving the continued growth of the global silicon monoxide market.
“Increasing emphasis on sustainability and environmental protection has led to the widespread adoption of silicon monoxide coatings in various industrial applications. Serving as an ideal choice for applications where environmental protection and energy efficiency are crucial, the market is foreseen to grow globally,” – opines an analyst at FMI.
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Key Takeaways from the Market Study
- Granular form in silicon monoxide is expected to gain the highest value share of 45.3% in 2024.
- Coating applications in the silicon monoxide market are projected to cover a share of 37.4% for 2024.
- The silicon monoxide market in China is set to experience an exponential increase, with a 12.3% CAGR through 2034.
- The silicon monoxide market in India is anticipated to develop at a CAGR of 11.2% through 2034.
- The silicon monoxide market in South Korea is predicted to rise at an 11.2% CAGR through 2034.
- The silicon monoxide market in Japan is projected to develop at a CAGR of 10.8% through 2034.
- The silicon monoxide market in the United States is estimated to rise at a 7.2% CAGR through 2034.
Competitive Landscape
With the wide adoption of electronics and the electrical sector across various industries, the requirement for silicon monoxide has become more crucial. Thus, manufacturers have a significant scope to expand in this sector. Also, the use of anodes, solar cells, and semiconductors is prevalent in every component of the automotive and electronic sectors, so major companies are focused on enhancing their quality and durability. Furthermore, sustainability trends have opened doors for both existing big brands and newcomers due to the huge demand for this chemical.
Recent Developments:
- In October 2023, Ionblox unveiled rapid-charging lithium-silicon cells for electric vehicles, reaching a 60% charge in just 5 minutes and increasing range by 30-50%. These cells exhibited sustained performance over 1,000 cycles with minimal degradation.
- In January 2024, Das Solar set a world record for open-circuit voltage with its n-type TOPCon solar cell, achieving 742 mV, as confirmed by China’s National PV Industry Measurement and Testing Center.
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Key Players Silicon Monoxide Brands
- OSAKA Titanium Technologies
- Materion
- Shin-Etsu Chemical
- EMD Performance Materials (Merck)
- Rearth Technology
- BTR
- Jayu Optical Material
- Shanshan Group
- Taizhou Dongfang Coating Material
Key Segments of Market Report
By Form:
Powder, granules, and solids are three forms of silicon monoxide.
By Application:
Silicon monoxide find application in coatings, anode, and other.
By End Use:
The sector is segmented into electronics and semiconductors, automotive, chemical manufacturing, packaging, and other end users.
By Region:
A regional analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.
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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