The global silicon market is missing about 92,000 tons. Its price is rising to historical highs and the trend will probably continue for some time to come. This is due to the development of photovoltaic power plants in the world.
At the end of last year, a tonne of silicon was traded on world markets for around two thousand dollars. Less than a year later, its price doubled in the US and even higher in Europe or China. It is not uncommon for silicon to sell for more than $ 4,700 per tonne.
However, the shortage of silicon began to manifest itself as early as 2019, when it was short of about 20,000 tons. Last year, the excess of demand over supply climbed to about 60 thousand tons, this year it is estimated that it is missing more than 90 thousand tons. The imbalance in the market is the result of the rapidly growing demand for silicon, mainly from photovoltaic panel manufacturers.
Silicon is one of the key raw materials that a solar panel cannot do without. But it is also used in the automotive industry and in the manufacture of electronics. Raw materials are currently in short supply on the market, which is also a legacy of the coronavirus crisis when the number of productions were reduced. Now, however, they are growing rapidly.