Silicon Monoxide Market, By Product Type, By Application, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Silicon Monoxide Market size was valued at USD 130.8 million in 2022, expanding at a CAGR of 10.4% from 2023 to 2030.
Silicon Monoxide is a highly insoluble thermally stable Silicon source suitable for glass, optic Ultra High Purity (99.999%) Silicon Oxide pieces' ceramic applications. Oxide compounds are not electrically conductive. They are typically insoluble in aqueous solutions (water) and extremely stable, making them useful in ceramic structures ranging from basic electronics to lightweight structural components in aerospace and electrochemical applications like fuel cells where they exhibit ionic conductivity. They can also be used to make simple ceramic structures like clay bowls. Due to its high activity, silicon monoxide fine powder can be utilized as a raw material for the manufacture of fine ceramic powders like silicon nitride and silicon carbide. used in the production of semiconductor materials and optical glass. It can be evaporated in a vacuum and applied as a protective film to the metal mirror surface of optical instruments. semiconductor material preparation.
Silicon Monoxide Market - Market Dynamics:
Growing demand for anode material in batteries is expected to propel market growth
The adoption of EVs has been considerably boosted by the global movement toward sustainability. High-energy batteries are needed for these vehicles, which increases the demand for effective anode materials. Anode materials, which have been one of the key components in LIBs, still exhibit their importance in promoting the development of Sibs. According to the International Energy Agency, the share of electric cars in total sales has more than tripled in three years, from around 4% in 2020 to 14% in 2022. EV sales are expected to continue strongly through 2023. Over 2.3 million electric cars were sold in the first quarter, about 25% more than in the same period last year. Potential for Research and development to increase its effectiveness and New technologies to create opportunities for larger market positions. However, limitations of SiO production can restrict the market growth.
Silicon Monoxide Market - Key Insights:
As per the analysis shared by our research analyst, the global Silicon Monoxide market is estimated to grow annually at a CAGR of around 10.4% over the forecast period (2023-2030)
Based on Application segmentation, Coating Applications was predicted to show maximum market share in the year 2022
On the basis of region, North America was the leading revenue generator in 2022
Silicon Monoxide Market- Segmentation Analysis:
The Global Silicon Monoxide Market is segmented on the basis of Product Type, Application, and Region.
The market is divided into three categories based on product type: (3N) 99.99%, (4N) 99.99% and Others. The demand for high-purity SiO (3N, 4N, and above) would be driven by changes in the high-tech industry, R&D spending, and technological advancements. A breakthrough in optical technology, for example, needing high purity SiO coatings, could raise demand.
The market is divided into two categories based on application: Coating Applications, Anode Material Applications, and Others. Coating Applications dominate the market. Because of its capacity to form anti-reflective and high-reflective layers, SiO is widely employed in the manufacturing of optical coatings. This is critical for camera lenses, microscopes, telescopes, and eyewear. Anti-reflective coatings improve the clarity and sharpness of these optical equipment' visual output.
Silicon Monoxide Market - Geographical Insights:
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the Silicon Monoxide Market, due to increasing industrialization in growing economies. Even though North America is already industrialized, the move toward more sophisticated manufacturing and the growth of sectors devoted to green technology and renewable energy can boost the demand for silicon oxide. SiO application development, particularly in battery technology, is facilitated by the robust R&D infrastructures in the US and Canada, which range from institutions to private businesses. In the United States, industrial production measures the output of businesses integrated with the industrial sector of the economy. Manufacturing is the most important sector and accounts for 78 percent of total production. Additionally, Asian nations are experiencing greater growth in end-user industries as China intensifies its ambitions to become a world leader.
Silicon Monoxide Market- Competitive Landscape:
The competitive landscape of the Silicon Monoxide (SiO) market, like with any industry, involves identifying the market's top competitors, market shares, product offerings, and strategic efforts. Determining each key player's market share provides insight into their market dominance and influence. Players with a larger market share have a greater influence on pricing, distribution, and technological improvements. The capacity to innovate and develop new methods or products might be critical in sectors like this. Companies that engage extensively in R&D may find themselves at the forefront of the industry's future. Some players may have a large presence in specific regions or countries, establishing them as regional leaders, but others may have a broader worldwide influence. For Example, Battery developer Britishvolt has chosen China's BTR to supply synthetic graphite and silicon oxide to its planned UK gigafactory in Blyth, Northumberland, it said July 28.
Recent Developments:
In Aug 2023, While LCD may be relatively mature as a display technology compared to OLED, there is still plenty of room for future innovation, according to liquid crystal (LC) material supplier Merck KGaA. The Darmstadt, Germany-based company, which does business in the United States and Canada as EMD Electronics, has been supplying LCs for more than 100 years and focusing on their application in displays for over 50.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL SILICON MONOXIDE MARKET KEY PLAYERS
Materion
OSAKA Titanium Technologies
EMD Performance Materials (Merck)
Shin-Etsu Chemical
BTR
Shanshan Group
Jayu Optical Material
Rearth Technology
Taizhou Dongfang Coating Material
GLOBAL SILICON MONOXIDE MARKET, BY PRODUCT TYPE
(3N) 99.99%
(4N) 99.99%
Others
GLOBAL SILICON MONOXIDE MARKET, BY APPLICATION
Coating Applications
Anode Material Applications
Others
GLOBAL SILICON MONOXIDE MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Silicon Monoxide Market Overview
1.1. Study Scope
2. Executive Summary
2.1. Market Snippet
2.1.1. Silicon Monoxide Market Snippet by Product Type
2.1.2. Silicon Monoxide Market Snippet by Application