Global Silicon Market 2024

Silicon Market Size

In 2023, the global silicon market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the maximum level at $X in 2022, and then dropped in the following year.

Silicon Production

In value terms, silicon production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, global production growth failed to regain momentum.

Silicon Exports

Exports

After two years of growth, shipments abroad of silicon decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the global exports attained the peak figure at X tons in 2022, and then dropped sharply in the following year.

In value terms, silicon exports fell dramatically to $X in 2023. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the global exports attained the maximum at $X in 2022, and then fell dramatically in the following year.

Exports by Country

In 2023, China (X tons) represented the largest exporter of silicon, constituting X% of total exports. Norway (X tons) held the second position in the ranking, followed by Brazil (X tons), the Netherlands (X tons) and Germany (X tons). All these countries together held approx. X% share of total exports. The following exporters - France (X tons), Malaysia (X tons), the United States (X tons), Canada (X tons), Australia (X tons) and Iceland (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to silicon exports from China stood at X%. At the same time, Iceland (X%), France (X%), Malaysia (X%), Germany (X%), the Netherlands (X%) and Norway (X%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. Brazil, Canada and Australia experienced a relatively flat trend pattern. By contrast, the United States (X%) illustrated a downward trend over the same period. While the share of France (X p.p.), Malaysia (X p.p.), Norway (X p.p.) and Iceland (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of Brazil (X p.p.) and the United States (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest silicon supplying countries worldwide were Germany ($X), China ($X) and the United States ($X), with a combined X% share of global exports. Norway, Malaysia, Brazil, the Netherlands, France, Canada, Australia and Iceland lagged somewhat behind, together comprising a further X%.

Iceland, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average silicon export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price recorded a slight curtailment. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Iceland ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iceland (X%), while the other global leaders experienced more modest paces of growth.

Silicon Imports

Imports

In 2023, after two years of growth, there was significant decline in purchases abroad of silicon, when their volume decreased by X% to X tons. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, global imports reached the maximum at X tons in 2022, and then dropped markedly in the following year.

In value terms, silicon imports reduced notably to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, global imports hit record highs at $X in 2022, and then reduced sharply in the following year.

Imports by Country

In 2023, Germany (X tons), Japan (X tons), the Netherlands (X tons), the United States (X tons), South Korea (X tons), India (X tons), China (X tons), Malaysia (X tons), the United Arab Emirates (X tons), Italy (X tons), the UK (X tons) and Thailand (X tons) was the key importer of silicon in the world, constituting X% of total import. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest silicon importing markets worldwide were China ($X), Japan ($X) and Germany ($X), with a combined X% share of global imports. South Korea, the United States, Taiwan (Chinese), the Netherlands, Malaysia, the UK, Italy, India, the United Arab Emirates and Thailand lagged somewhat behind, together accounting for a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average silicon import price stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a slight setback. The pace of growth appeared the most rapid in 2022 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform