The global high-purity silicon market is anticipated to grow at a considerable CAGR of 5.9% during the forecast period. The growth of the market is primarily attributed to the growing application of high-purity silicon in various end-use industries. Silicon is a p-type semiconductor material that is required in high-purity form for photovoltaic cells, deposition of coatings and thin films via molecular beam epitaxy (MBE), microelectronics, energy storage, and others; it also serves as a dopant or starting material for the synthesis of ultra-pure silicon carbide wafers, mesoporous silica, and other semiconductors. High-purity silicon is used for powder metallurgy and the production of alloys such as aluminum-silicon alloy (AlSi). It is also suitable as a reference standard for X-ray diffraction testing, impurity analysis, and equipment calibration. 

Segmental Outlook 

The global high-purity silicon market is segmented based on its end-user. Based on its end-user, the market is segmented into the electronics and semiconductor industry, pharmaceutical industry, chemical industry, and others. 

Among the end-user segment, the electronics and semiconductor industry sub-segment is anticipated to register significant growth for the forecast period. The growth of the electronics and semiconductor industry sub-segment is attributed to the factors such as the demand for high-purity silicon in electronic devices, such as smartphones, tablets, laptops, and televisions, which require high-performance semiconductors. Additionally, the increasing adoption of solar power is also driving the demand for high-purity silicon as it is a key material used in the manufacturing of solar cells. Also, the growing initiative taken by the government and other organizations to promote the semiconductor industry is anticipated to propel the growth of the market. For instance, in January 2023, the US Semiconductor Industry Association (SIA) and the India Electronics and Semiconductor Association (IESA) an initiative to strengthen public-private collaboration in the chip ecosystem. This initiative helps in identifying opportunities, and challenges and facilitates longer-term development and supply chain of semiconductor ecosystems.

Regional Outlooks

The global high-purity silicon market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American market is anticipated to cater to prominent growth over the forecast period. However, the Europe region is projected to experience considerable growth in the high-purity silicon market. The growth of the market is attributed to the growing demand from the electronics and solar industry

Global High Purity Silicon Market Growth, by Region 2023-2029

The Asia-PAcific Region is anticipated to Hold a Significant Share in the Global High Purity Silicon Market

Among these regions, the Asia-Pacific region is anticipated to account for a significant share of the high-purity silicon market during the forecast period. Asia-Pacific involves countries such as China, Japan, South Korea, and Taiwan being the major contributors to the market. This can be attributed to the presence of a large number of semiconductor and solar cell manufacturing companies in the region. The market players adopt different strategies to remain competitive in the market. For instance, in August 2021, Renesas Electronics Corp., a Japan-based semiconductor manufacturing company acquired Dialog Semiconductors, the UK Based manufacturing company. Through this acquisition, Renesas enables to extend its go-to-market initiatives and provide seamless and borderless services to customers across the globe.  The growth and expansion of electronic and semiconductor companies in the region are anticipated to propel the demand for high-purity silicon in the Asia-Pacific region.

Market Players Outlook

The major companies serving the global high-purity silicon market include Ferrotec (USA) Corp., American Elements, Bridgestone Corp., Ferroglobe PLC, Elkem AS, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance,  in December 2019, Elkem ASA agreed to acquire all of the shares in Polysil, a leading Chinese silicone elastomer & resins material manufacturer with strong positions in baby care and food-grade silicones, as well as silicone products for the electronics and medical markets. Polysil and Elkem's complementary product and market positions provide a solid platform for further specialization and growth in China and globally.

The Report Covers

• Market value data analysis of 2023 and forecast to 2029.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global high purity silicon market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.