The global silicon tetrachloride market size was valued at USD 2.18 billion in 2021 and is expected to hit USD 3.35 billion by 2028, exhibiting growth at a CAGR of 4.9% during the forecast period 2022 to 2028.
The Impact of COVID-19 on the Global Silicon Tetrachloride Market
The rapid spread of the COVID-19 pandemic has had a negative impact on the silicon tetrachloride market. COVID-19 has caused supply chain disruptions in major users and producers of silicon tetrachloride, including the United States, China, India, and Europe. Solar technology and fibre optics, two major end users of silicon tetrachloride, are also among the worst-affected sectors, compounding the impact on the silicon tetrachloride industry. China is the primary supply of raw materials for the solar and fibre optic sectors, and the closure of international borders has hampered the import-export of these resources.
The following are important elements that influence market growth:
• Smartphones and other hand-held entertainment devices are in high demand.
• Fiber optics are becoming increasingly popular.
• Advanced communication equipment development
• Fiber optics’ use in the aerospace and oil & gas industries is growing.
• Consumer electronics is experiencing rapid growth.
• Growing market for semiconductors
• Solar PV market is growing.
• 5G services are now available.
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The Silicon Tetrachloride Industry’s Major Trends:
The key driver of the silicon tetrachloride market is rising use of silicon tetrachloride for polysilicon manufacture. As a result, the growing demand for polysilicon is moving the silicon tetrachloride market forward. Solar technology is one of the most rapidly expanding sectors of the energy and power business. Polysilicon is used in the production of more than 90% of solar cells. Growing energy consumption, environmental concerns about fossil fuels, rapidly falling solar cell costs, and increased knowledge about green energy are all factors that are anticipated to raise polysilicon demand. Furthermore, massive investments in solar technology from governments all over the world are increasing silicon tetrachloride demand in solar applications.
Fiber optics is regarded as the backbone of progressive growth in the twenty-first century, particularly in the communication sector. The main raw materials used in optical fibre manufacture are germanium tetrachloride (GeCl4) and silicon tetrachloride (SiCl4). When high purity silicon tetrachloride is required, optical fibres are made using technologies such as plasma chemical vapour deposition/modified chemical vapour deposition. Due to the fast increasing telecom industry, deployment of 3G/4G/5G, LTE, FTTX, and rising integration of IoT, optical fibre has seen substantial expansion over the previous decade.
Top Players contending in the Market:
The global silicon tetrachloride market is projected to be led by firms that focus on research and development. The following are the top competitors in the global silicon tetrachloride market:
• Momentive Performance Materials
• Heraeus Holding
• Linde Plc
• Evonik Industries AG
• Dow Corning (Dow)
• Air Products and Chemicals Inc
• Tokuyama Chemicals (Zhejiang) CO Ltd
• OCI Co Ltd
• Shandong Xinlong Group Co Ltd
Precedence Research forecasted the future progress of the silicon tetrachloride market in order to better understand the current position of silicon tetrachloride and policies made by the leading nations. This study provides quantitative and qualitative information on the silicon tetrachloride market, as well as market size and growth trends for potential market categories.
Major Market Segments Covered:
● Technical Grade
● Electronics Grade
● Silicone Rubber
● Optic Fiber Preform
● Chemical Intermediate
Market Trends to Watch:
In 2020, the Electronics Grade segment held the most market share.
In 2020, the electronics grade held the largest proportion of the global silicon tetrachloride market. The key factors for the largest industry stake of electronics grade sector are major applications in the field of semiconductors and PV (photovoltaic) cells. In the foreseeable future, elements such as deployment in new sectors are expected to maintain electronics grade silicon tetrachloride’s dominance.
Market Revenue was dominated by polysilicon derivatives.
Polysilicon has recently become a popular feedstock for the production of solar cells. Polysilicon’s significant market share is further aided by increased demand in the electronics and solar photovoltaic industries.
Silicon Tetrachloride is estimated to have the largest market in North America.
The thorough research report includes significant projections and trends for silicon tetrachloride in key regions such as Africa, Asia Pacific, Europe, Latin America, North America, the Middle East, and others. Asia Pacific leads the silicon tetrachloride market by geography, owing to increasing demand for fibre optics and widespread smartphone use. North America came in second, owing to the presence of qualified experts and early adoption of cutting-edge communication technologies. The Asia-Pacific region is expected to make tremendous growth as a result of increased government spending on cutting-edge technologies.
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