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Silicon Tetrachloride Market to Garner Brimming Revenues by 2027
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The silicon tetrachloride market is set to grow due to rising demand in optic cables and solar panels, with a projected CAGR of 4.3% by 2027.
Future Market Insights (FMI) has published a new research titled “Silicon Tetrachloride & Derivatives Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027.” The report states that the demand for silicon tetrachloride is likely to be driven by the growing demand for chemical intermediate manufacturing.
As silicon tetrachloride is employed as an intermediate in the production of polysilicon, its demand in certain vertical industries is also increasing and is expected to remain on the same track in the coming years. The global silicon tetrachloride market is expected to witness a CAGR of 4.3% from 2017 to 2027. The market is expected to reach a valuation of over US$ 2,846 Mn by the end of the forecast period.
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Growing Demand for Optic Cable to Bode Well for Market Growth
High purity silicon tetrachloride is a major raw material used for the manufacturing of optic cable preform, which is used in the manufacturing of optic cables. In the recent past, supported by the growth of 4G, 5G, LTE, FFTx and the IoT, there has been a significant increase in the demand for optic cables across the globe. China, U.S. and Japan constitute around 80% of total optic cable preform manufacturing and in terms of consumption, China accounted for nearly 58% of total optic fibre preform in 2017. A constantly increasing demand for optic cables will boost the demand for optic cable preform, which will subsequently drive the silicon tetrachloride market over the forecast period.
However, the government of China has imposed rules and regulations on the manufacturing of silicon tetrachloride, which is produced as a by-product during the production process of polysilicon. The government of China has imposed a minimum recycle rate of 98.5% on silicon tetrachloride and the initial capital cost of silicon tetrachloride recycling facility is high and the operating cost is high as well, which in turn, is increasing the price as well as limiting the supply of silicon tetrachloride. This might adversely affect the growth of the silicon tetrachloride market over the forecast period.
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Adoption of Silicon Tetrachloride to be High in China Among all Regions
The growing use of silicon tetrachloride in China can be attributed to the lucrative growth of the solar industry in the region. One of the core raw materials used in the manufacturing of solar panels is silicon tetrachloride. The focus on solar energy in the region is expected to spur the demand for silicon tetrachloride in the coming years. Moreover, the snowballing effect of the semiconductor industry and the rising progress of the paints and coatings industry is anticipated to increase the adoption of silicon tetrachloride in the region in the years ahead. The increasing demand for chemical intermediate in the manufacturing industry is also expected to propel the demand for silicon tetrachloride in the region. However, the dependence of the region on cyclical end-use industries and the several restrictions imposed on silicon tetrachloride owing to harmful health impacts might slow down the growth of the market in the region.
Evonik Industries to Emerge Undefeated
In 2016, Evonik Industries accounted for over 40% of the global market share and is expected to retain its dominance in the market over the course of the forecast period. The other companies operating in the market are Cabot Corp., Wacker Chemie AG, The Linde Group, DowDuPont Inc., Tokuyama Corporation, Air Liquide S.A., and OCI Company Ltd., among others.
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The article discusses the growth and demand drivers of the silicon tetrachloride market up to 2027.
Increased demand for optic cables boosts the need for silicon tetrachloride, a key raw material.
Regulations in China and high recycling costs may limit silicon tetrachloride supply.
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