NEWARK, Del, June 27, 2024 (GLOBE NEWSWIRE) -- The global silicon monoxide market is projected to grow from a value of USD 135.8 million in 2024 to USD 362 million by 2034, with a CAGR of 10.3%. This growth reflects the widespread adoption of silicon monoxide across various industries globally.
Increasing demand for electronic devices and components in sectors such as consumer electronics, automotive, and telecommunications has been a key driver for the expansion of the silicon monoxide industry. The trend towards smaller, lighter, and more powerful electronic devices has led to a surge in the need for advanced semiconductor manufacturing processes, where silicon monoxide plays a crucial role.
The automotive industry's focus on enhancing the durability and performance of vehicle components has significantly increased the demand for silicon monoxide coatings. With the automotive sector's shift toward electric vehicles, there is a growing need for advanced coatings that offer superior corrosion resistance and reliability. This further propels the growth of the silicon monoxide market within this specific sector.
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As companies worldwide strive to meet stringent environmental regulations and reduce their carbon footprint, the demand for silicon monoxide coatings is expected to continue rising. This is likely to contribute to the 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,” - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
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.
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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.
Leading 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:
North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.
Report Preview: https://www.futuremarketinsights.com/reports/silicon-monoxide-market
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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