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The market for silicon tetrachloride is being driven by the rising demand for consumer electronics and data processing markets across the world. Moreover, the growing demand for the industrial segment is also facilitating the semiconductor sector. The rising support from the large capital investments by the key players in enhancing the overall semiconductor market. The demand for solar photovoltaic is rising, especially in the Asia Pacific region, further supporting the silicon tetrachloride industry. The solar PV market is expected to witness higher growth over the forecast period as it has safe and environmentally friendly features. The market for solar PV is further growing due to government subsidisation of the solar technology to help encourage the use of clean and renewable energy as an alternative to the conventional resources, as a result, enhancing the silicon tetrachloride industry.
The market is led by the major key players, such as Evonik Industries AG and Air Products and Chemicals, Inc (NYSE: APD). Air Products and Chemicals, Inc, an American international corporation whose core business incorporates selling gases and chemicals for industrial use, offers the supply of silicon tetrachloride. The product is in high demand owing to its extensive range of applications across several sectors. The market is expected to grow over the forecast period as it has safe and environmentally friendly features. With the rise in the eco-consciousness among consumers, the market is accelerating.
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Evonik Industries AG, Air Products and Chemicals, Inc, Momentive Specialty Chemicals Inc., Shandong Xinlong Group, and Merck KGaA, among others, are the key players in the global silicon tetrachloride market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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