The global silicon tetrachloride market is poised for significant growth, with sales projected to reach a valuation of approximately US$ 2,277.4 million in 2022. Forecasts indicate a substantial Compound Annual Growth Rate (CAGR) of 4.5% during the period from 2022 to 2027. This optimistic outlook is primarily attributed to the rising demand for silicon tetrachloride in diverse applications, including chemical intermediates, silicone rubber, and other industrial uses. The heightened consumption in these sectors is anticipated to be a driving force behind the projected sales increase, positioning the global Silicon Tetrachloride market to achieve a valuation of US$ 2,846.0 million by 2027, according to Future Market Insights (FMI).

The increased prevalence of silicon tetrachloride in key industries underscores its versatile utility and underscores the pivotal role it plays in various manufacturing processes. As the demand for chemical intermediates and silicone rubber continues to rise, businesses in this sector are expected to capitalize on this growth trend, contributing to the overall positive trajectory of the global Silicon Tetrachloride market in the forecast period.

Request Your Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-6392

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 2022. 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.

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 2021, 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.

Silicon Tetrachloride Market by Category

By Grade:

• Electronics Grade
• Technical  Grade

By Application:

• Chemical Intermediate
• Trichlorosilane (Polysilicon)
• Fumed Silica
• Silicone Rubber
• Optic Fiber Preform
• Others

By Region:

• North America
• LAMEA
• Europe
• China
• India
• Japan
• South East Asia & Pacific