Throughout the initial half of 2023, the Silicon Price Index in Asia witnessed a significant decline, influenced by reduced demand from key industries such as steel and smelting. This downturn was further exacerbated by stockpiling ahead of Covid-19 lockdowns, which led to industrial shutdowns. As economic activities gradually resumed, supplies of Silicon surged, yet demand failed to keep pace, resulting in sustained downward pressure on prices.
Similarly, the European Silicon Price Index experienced notable drops due to weakened demand from the manufacturing sector, particularly in construction and heavy metal industries, amid an economic recession. In North America, the Silicon Price Index also followed a downward trajectory, driven by ample inventory levels, increased supplies, and sluggish consumption triggered by rising interest rates and a global economic slowdown. These factors collectively contributed to a bearish outlook across the Silicon market in the region.
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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 chart, 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.
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Industrial Uses Impacting the Silicon Price Trend:
Silicon plays a vital role in various industrial applications, including electronics, where it serves as a fundamental component in semiconductors essential for modern technology. Its exceptional electrical properties make it indispensable in the production of transistors, integrated circuits, and solar cells. Additionally, silicon enhances the strength and heat resistance of alloys in metallurgy. In the realm of optics, silicon is utilized for lenses and mirrors due to its favorable refractive index. Its significance extends across the electronics, energy, and manufacturing sectors, underlining its versatile utility in driving technological advancements.
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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