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Global Silicon Tetrachloride Market Expected to Grow at a CAGR of 4% During 2021-2026, Driven by the Rising Demand for Consumer Electronics

According to a new report by EMR titled, 'Global Silicon Tetrachloride Market Report and Forecast 2021-2026', the global market for silicon tetrachloride is expected to grow at a CAGR of 4% in the forecast period of 2021-2026.

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.

Market Analysis by Application and Region:

  • The silicon tetrachloride industry, on the basis of application, is segmented into chemical intermediate, semiconductors, photovoltaic cells, and optical fibre, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global silicon tetrachloride industry is driven by the rising demand for high purity silicon and silica for commercial purposes.
  • The increasing demand for semiconductors and photovoltaic (PV) cells that use high purity silicon in the manufacturing process is further aiding the market growth of silicon tetrachloride.
  • The growing use of the product in the chemical analysis is expected to propel the market growth over the forecast period.
  • The rising demand for communications, electronics, and GPS devices is predicted to enhance the market growth in the coming years.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for silicon tetrachloride for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications and major region of silicon tetrachloride.
  • It gives an in-depth look at the regional price trends in the global market for silicon tetrachloride.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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