During the first half of 2023, the Asian Silicon market saw a significant decrease in prices. This drop was primarily influenced by decreased demand from industries that rely on Silicon, such as steel and smelting. The situation was exacerbated by stockpiling that occurred before industrial shutdowns caused by the Covid-19 lockdown. As industrial activities gradually resumed, Silicon supplies increased, but demand remained sluggish, resulting in a consistently subdued market.
Similarly, the European Silicon market also experienced price declines due to reduced demand from the manufacturing sector, which was affected by an economic recession. This recession had a particularly strong impact on construction and heavy metal industries.
In North America, Silicon prices followed a similar downward trend due to abundant inventory, improved supply conditions, and slow consumption driven by rising interest rates and a global economic slowdown. This overall market outlook was pessimistic, reflecting the challenging conditions in the Silicon industry.
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Definition
Silicon is a chemical element with the symbol Si and atomic number 14. It is a crucial component of various materials, including semiconductors used in electronic devices. Silicon’s properties make it an excellent conductor of electricity when doped with other elements. It also has industrial applications in the production of alloys, ceramics, and solar cells due to its unique combination of strength, versatility, and electrical conductivity.
Key Details About the Silicon Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Silicon in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Silicon Price trends, including India Silicon price, USA Silicon price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Silicon Price Trend:
Silicon boasts a wide range of industrial uses, particularly in the electronics field, where it plays a vital role as the foundation of semiconductors that are essential in today’s technology landscape. Its exceptional electrical characteristics render it indispensable in the production of transistors, integrated circuits, and solar cells. Additionally, it enhances the strength and heat resistance of alloys, benefiting metallurgy. In the realm of optics, silicon finds application in lenses and mirrors thanks to its unique refractive index. Its importance extends across the electronics, energy, and manufacturing sectors.
Key Players:
- Wacker Chemie AG
- Hemlock Semiconductor Corporation
- Tokuyama Corporation: A Jap
- Zhejiang Kaihua Yuantong Silicon Industry Co., Ltd.
- Ferroglobe PLC
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