Silicon Tetrachloride Market Is Driven By Rising Demand From The Semiconductor And Solar Industries
The silicon tetrachloride market overview has seen significant growth in recent years owing to its widespread application across various sectors. Silicon tetrachloride or SiCl4 is an inorganic compound comprising of silicon and chlorine. It is a colorless fuming liquid that is virtually insoluble in water but soluble in many organic solvents. Silicon tetrachloride is a critical precursor compound used in the manufacturing of polysilicon which is further converted into crystalline or multi-crystalline silicon ingots through the Siemens process. Polysilicon finds wide utilization in the electronics and solar photovoltaics industries for producing integrated circuits, computer chips, and solar panels. Growing demand for electronics and solar panels has augmented the consumption of polysilicon which in turn boosts the demand for silicon tetrachloride.
The Global Silicon Tetrachloride Market is estimated to be valued at US$ 3.33 Bn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Silicon Tetrachloride Market Growth are Tokuyama Chemicals Co. Ltd, Evonik Industries, PCC Group, Shandong Xinlong Group Co Ltd, Air Products and Chemicals, Inc, Momentive Specialty Chemicals Inc., Merck KGaA, Dow Corning, ATCO, Hemlock Semiconductor Corporation, Reade International Corp, Alfa Aesar, Vizag Chemicals, Ennore India Chemicals, and RX CHEMICALS. Tokuyama Chemicals Co. Ltd is one of the largest producers of silicon tetrachloride globally.
The growing demand for electronic products such as smartphones, tablets, laptops, gaming consoles along with increasing solar panel installations is propelling the consumption of polysilicon thereby escalating the silicon tetrachloride market size. Expanding population and rising disposable incomes especially in developing countries have significantly boosted the demand for consumer electronics in recent years.
Globally, Asia Pacific dominates the silicon tetrachloride market owing to large electronics and semiconductor manufacturing bases in China, Taiwan, South Korea and Japan. Several polysilicon producers have set up manufacturing plants in Asia to cater to the rising regional demand. Meanwhile, countries in North America and Europe are also witnessing a growth in the solar industry which is positively impacting the silicon tetrachloride market in these regions.
Market drivers
One of the key drivers for the silicon tetrachloride market is the exponential growth of the electronics industry. With evolving technologies, growing digitalization and increasing integration of electronics in various applications, the demand for electronic components like semiconductors, integrated circuits and chips has skyrocketed. This is translating into higher consumption of polysilicon and subsequently silicon tetrachloride. Another major market driver is the rapid expansion of the solar PV industry. Government incentives and initiatives towards renewable energy along with lower solar power prices are propelling widespread solar panel installations globally. This is expected to generate significant opportunities for players in the silicon tetrachloride market space over the coming years.
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