Silicon Powder Sales

Silicon Powder Sales Market Outlook

The global silicon powder market was valued at approximately USD 2.1 billion in 2022 and is projected to reach USD 3.8 billion by 2030, expanding at a robust CAGR of around 7.5% during the forecast period from 2023 to 2030. This growth can be attributed to several key factors, including the increasing demand for silicon powder in the electronics and automotive sectors, driven by technological advancements and the rising use of silicon in photovoltaic cells for solar energy applications. Additionally, the growing construction industry across emerging economies is further propelling the need for silicon powder, particularly in concrete and composite materials. Other contributing factors include the rising trend of miniaturization in electronic devices, which requires finer silicon powders for improved performance and efficiency, alongside the expanding applications of silicon powder in various sectors such as energy storage and consumer goods.

Growth Factor of the Market

The silicon powder market is witnessing significant growth due to the increasing adoption of silicon-based materials across a variety of applications. One of the primary growth factors is the booming electronics industry, where silicon powder is essential in the production of semiconductors and integrated circuits. Moreover, the automotive sector is increasingly utilizing silicon powder in manufacturing lightweight components, which contribute to fuel efficiency and sustainability in vehicles. The rise in renewable energy projects, notably solar power, is also driving demand as silicon is a key component in photovoltaic cells. Additionally, advancements in nanotechnology and growing research in nanostructured materials have opened new avenues for the application of silicon powder, particularly in nano-silicon formats used in batteries and electronics. Furthermore, the trend towards sustainable construction and the integration of high-performance materials in building projects are contributing to market growth, as silicon powder enhances the durability and performance of construction products.

Key Highlights of the Market

• The global silicon powder market is expected to reach USD 3.8 billion by 2030.
• Consumer electronics is a significant segment driving the demand for silicon powders.
• Asia Pacific is anticipated to dominate the market, driven by rapid industrialization and technological advancements.
• Nanostructured silicon powder is gaining traction due to its applications in advanced battery technologies.
• The construction application segment is expanding due to the rising demand for high-performance building materials.

By Product Type

Densified Silicon Powder:

Densified silicon powder is characterized by its compact structure, which enhances its mechanical properties and makes it suitable for a variety of applications. This type of silicon powder is mainly used in the production of ceramics and glass, where high density is crucial for improving strength and durability. In addition, the densified form is often preferred in construction materials, where it serves as an essential additive that improves the overall performance of concrete and enhances the product's resistance to weathering and chemical attacks. With the growing focus on sustainable and resilient building materials, the demand for densified silicon powder is expected to continue to rise as it aligns with industry needs for performance and longevity.

Aerosolized Silicon Powder:

Aerosolized silicon powder is utilized primarily in applications requiring fine dispersion of silicon particles. This type of silicon powder is especially valuable in electronics for applications like coatings and reinforcing materials. Its ability to provide a uniform layer without clumping makes it suitable for uses in paints, adhesives, and sealants where silicone-based formulations are preferred. Furthermore, aerosolized powders can enhance the electrical and thermal conductivity of materials, making them essential in high-performance applications such as thermal interface materials in electronic devices. The growth in consumer electronics and automotive sectors is likely to boost the demand for aerosolized silicon powder as manufacturers look for advanced materials that improve product performance.

Granular Silicon Powder:

Granular silicon powder is primarily used in the manufacturing of various industrial products, including semiconductors and photovoltaic cells. This form of silicon powder typically exhibits a larger particle size, making it suitable for applications where bulk properties are more critical than surface area. Granular silicon is commonly utilized in the production of silicon wafers for solar panels and in battery manufacturing, where it serves as a crucial component for enhancing energy density. The rising focus on renewable energy sources and electric vehicles is projected to drive the demand for granular silicon powder significantly, as these industries increasingly rely on efficient energy storage and conversion technologies.

Micronized Silicon Powder:

Micronized silicon powder is characterized by its fine particle size, typically in the micrometer range, which allows for increased surface area and reactivity. This makes it highly suitable for applications in the electronics and automotive sectors. In electronics, micronized silicon powder is often used in the formulation of conductive inks and pastes, enabling better performance in printed circuit boards. Additionally, in the automotive industry, it serves as an additive in composite materials, enhancing mechanical properties and reducing weight. The demand for lightweight materials in vehicles is escalating due to regulations aimed at reducing carbon emissions, further fueling the growth of micronized silicon powder.

Nano Silicon Powder:

Nano silicon powder represents a cutting-edge subset of silicon materials, with particle sizes in the nanometer range, which imparts unique properties compared to larger particle forms. This type of silicon powder is pivotal in advanced electronics, energy storage devices, and various nanotechnology applications. The high surface area-to-volume ratio enhances its reactivity and efficiency, particularly in applications such as lithium-ion batteries where it can significantly improve capacity and charge/discharge rates. The ongoing trend towards miniaturization in electronic devices and the demand for high-performance energy storage solutions are expected to drive the growth of the nano silicon powder segment, marking it as a significant area of focus for innovation and investment in the coming years.

By Application

Construction:

The construction sector is a major application area for silicon powder, owing to its properties that enhance the performance of construction materials. Silicon powder is extensively used in concrete and cement formulations, where it serves to improve strength, durability, and resistance to chemical attacks. In addition to its functional benefits, silicon powder contributes to sustainability efforts by improving the compressive strength of concrete, allowing for the use of less cement and reducing carbon emissions associated with construction activities. The increasing demand for sustainable and resilient building practices is expected to drive further adoption of silicon powder in this sector, particularly in new construction projects and renovation applications.

Electronics:

The electronics industry is one of the largest consumers of silicon powder, primarily due to the critical role silicon plays in semiconductor manufacturing and electronic component production. Silicon powder is used in various forms, including in the production of integrated circuits and photovoltaic cells. As technology continues to advance, the demand for high-purity silicon powder is growing, driven by the need for more efficient and powerful electronic devices. The increasing integration of silicon-based materials in consumer electronics, telecommunications, and computing applications is expected to significantly boost the silicon powder market within the electronics sector, as manufacturers strive for enhanced performance and miniaturization in their products.

Automotive:

In the automotive industry, silicon powder is gaining traction as a material for lightweight components, which is essential for improving fuel efficiency and reducing emissions. Silicon is utilized in various applications, from electric vehicle batteries to composite materials used in car body parts. The growing shift towards electric vehicles (EVs) and hybrid models is driving demand for silicon powder, particularly in high-capacity battery applications where silicon anodes are being developed to replace traditional graphite materials. This transition is anticipated to create significant opportunities for silicon powder manufacturers as automakers increasingly seek innovative materials that enhance energy storage capabilities and overall vehicle performance.

Energy:

The energy sector represents a burgeoning application area for silicon powder, primarily due to its role in solar energy technologies and energy storage solutions. Silicon is a fundamental component in the manufacturing of photovoltaic cells, making it essential for the growing solar energy market. As countries worldwide commit to renewable energy goals, the demand for silicon powder in solar applications is expected to rise significantly. Additionally, the increasing focus on battery technologies, particularly for electric vehicles and grid energy storage, is fueling interest in silicon-based materials. The adaptability of silicon powder for various energy applications positions it as a critical resource in the transition to sustainable energy solutions.

Others:

Beyond the primary applications of construction, electronics, automotive, and energy, silicon powder finds utility in various other industries. It is employed in the cosmetic industry for formulation purposes, providing smooth texture and improved aesthetics in beauty products. Furthermore, silicon powder is utilized in the medical field for certain applications, including as a filler in pharmaceuticals and as a component in medical devices. The diverse applicability of silicon powder across different sectors highlights its versatility and positions it as a key material in emerging industries, thus contributing to the overall growth of the silicon powder market.

By Distribution Channel

Direct Sales:

Direct sales represent a significant distribution channel for silicon powder, as manufacturers often engage directly with large-scale consumers such as construction companies, electronics manufacturers, and automotive firms. This channel allows for personalized service, where manufacturers can provide tailored solutions and technical support based on specific customer requirements. Moreover, direct sales can enhance customer relationships, leading to long-term partnerships and repeat business. As companies seek to streamline their supply chains and reduce costs, the trend towards direct purchasing is likely to continue, solidifying its importance in the silicon powder market.

Distributors:

Distributors play a crucial role in the silicon powder supply chain, acting as intermediaries between manufacturers and end-users. They facilitate the efficient distribution of silicon powder to a wide range of customers, including small and medium-sized enterprises (SMEs) that may not have the resources to purchase directly from manufacturers. Distributors often maintain inventory, allowing for quicker delivery times and a broader geographic reach. This channel is particularly important in markets with diverse applications, as distributors can provide valuable market insights and help manufacturers tailor their products to meet specific regional demands.

Online Retail:

Online retail has emerged as a growing distribution channel for silicon powder, especially in recent years with the increase in e-commerce activities. This channel provides customers with accessible purchasing options, often at competitive prices, and enables small businesses and individual consumers to acquire silicon powder without the need for large-scale orders. Online platforms often offer a variety of silicon products, including specialty powders that may not be readily available through traditional retail channels. As digital transformation continues to reshape the purchasing landscape, the online retail segment is expected to expand further, providing easier access to silicon powder for a broader audience.

By Grade

Industrial Grade:

Industrial-grade silicon powder is widely used across various manufacturing sectors, including construction, electronics, and automotive industries. This category of silicon powder meets the specific quality and performance standards required for industrial applications, making it suitable for the production of concrete additives, semiconductors, and components in vehicles. The demand for industrial-grade silicon is primarily driven by the need for high-performance materials that enhance the efficiency and durability of products. As industries continue to grow and evolve, the demand for reliable and consistent industrial-grade silicon powder is expected to remain strong.

Pharmaceutical Grade:

Pharmaceutical-grade silicon powder is characterized by its high purity and stringent quality standards, making it suitable for use in pharmaceutical formulations and drug delivery systems. This grade of silicon powder is essential for applications requiring safety and efficacy, such as in the production of excipients and fillers in medications. The increasing focus on healthcare and the development of innovative drug formulations are anticipated to drive the demand for pharmaceutical-grade silicon powder. Furthermore, as regulatory frameworks become more stringent, the need for high-quality materials in pharmaceuticals will only increase, further supporting this segment.

Food Grade:

Food-grade silicon powder is utilized in various food applications, including as an anti-caking agent and a processing aid. This grade of silicon powder must comply with food safety regulations, ensuring that it is safe for consumption. The growing trend towards processed and packaged foods is driving demand for food-grade silicon powder as manufacturers seek to improve the quality and shelf life of their products. As consumer preferences shift towards healthier and more convenient food options, the demand for food-grade additives like silicon powder is expected to rise, supporting its growth in the food industry.

Cosmetic Grade:

Cosmetic-grade silicon powder is increasingly used in the beauty and personal care industry for its unique properties that enhance product performance. This grade of silicon powder is often employed in formulations for skincare and makeup products, providing a smooth texture and improving the application experience. With the rise in consumer awareness regarding cosmetic ingredients and the demand for high-quality beauty products, the cosmetic-grade silicon powder segment is expected to witness significant growth. As brands focus on creating innovative formulations that cater to changing consumer preferences, the demand for cosmetic-grade silicon powder is likely to continue to expand.

By Region

The regional analysis of the silicon powder market highlights significant variations in demand and growth prospects across different areas. North America and Europe have historically been strong markets for silicon powder, driven by well-established electronics and automotive industries. North America, in particular, is expected to maintain a robust CAGR of around 6.5% through 2030, bolstered by advancements in technology and increased investment in renewable energy projects. Furthermore, the presence of key players and innovative research initiatives in these regions contributes to market growth, reflecting a robust ecosystem for silicon powder applications.

Asia Pacific stands out as the largest market for silicon powder, accounting for approximately 40% of the global market share in 2022. The region's rapid industrialization, coupled with the growth of the electronics and automotive sectors, significantly drives demand for silicon powder. Countries such as China and India are at the forefront, leveraging their manufacturing capabilities and expanding infrastructure projects to enhance market penetration. The increasing focus on sustainable energy solutions, notably solar power, is expected to further amplify demand in this region, positioning Asia Pacific as a key player in the global silicon powder market.

Opportunities

The silicon powder market is ripe with opportunities, particularly as technological advancements continue to reshape various sectors. One significant opportunity lies in the ongoing development of electric vehicles (EVs) and renewable energy technologies. As the automotive industry shifts towards electrification, silicon powder's role in high-capacity batteries and lightweight materials is becoming increasingly important. Manufacturers are likely to invest in research and development to create innovative silicon-based solutions that enhance battery performance and energy storage capacity. Furthermore, the integration of silicon materials in solar energy applications offers substantial growth potential, especially as countries aim to reduce their carbon footprint and promote sustainable energy sources. The dual demand for silicon powder in EVs and solar applications presents a unique opportunity for manufacturers to align their production capabilities with emerging trends and consumer preferences.

Another area of opportunity exists within the expansion of nanotechnology and its applications across various industries. The increasing interest in nano silicon powder, known for its enhanced properties and performance, is opening new avenues in electronics, energy storage, and biomedical applications. The ability to create advanced materials with tailored properties at the nanoscale is driving innovation in product development, enabling the creation of smaller, more efficient devices and systems. Furthermore, the growing focus on sustainability and eco-friendly materials presents an opportunity for silicon powder manufacturers to explore alternative production methods and improve recycling capabilities. This alignment with sustainability initiatives not only addresses regulatory pressures but also resonates with environmentally conscious consumers, creating a favorable market position for companies that prioritize sustainable practices in their operations.

Threats

Despite the promising growth prospects, the silicon powder market faces several threats that could hinder its advancement. One of the primary challenges is the fluctuation in raw material prices, particularly silicon feedstock, which can significantly impact production costs. Price volatility can lead to uncertainties in supply chains and affect the profitability of manufacturers, especially smaller companies that may lack the financial resilience to navigate such fluctuations. Additionally, increasing competition in the market, both from established companies and new entrants, poses a risk to market share and pricing strategies. As more players enter the silicon powder space, the competitive landscape may become saturated, driving prices down and placing pressure on margins. Furthermore, technological advancements may lead to the development of alternative materials that could replace silicon powder in certain applications, creating additional competition and potential disruption in the market.

Another significant concern is the regulatory landscape surrounding the silicon powder industry. As environmental regulations become more stringent, manufacturers may face challenges in meeting compliance requirements, particularly regarding emissions and waste management. The need for continuous investment in cleaner production technologies and processes may strain the resources of companies, particularly smaller players that may struggle to keep up with regulatory changes. Additionally, the increasing awareness among consumers about sustainability practices puts pressure on manufacturers to adopt greener methods while maintaining product quality and performance. Failure to adapt to these evolving regulatory and consumer expectations could hinder growth and market acceptance, presenting a notable threat to the long-term viability of the silicon powder market.

Competitor Outlook

• Wacker Chemie AG
• Shin-Etsu Chemical Co., Ltd.
• Elkem ASA
• Dow Inc.
• Hoshine Silicon Industry Co., Ltd.
• REC Silicon ASA
• Huanghe Whirlwind Co., Ltd.
• Ferro Corporation
• Kremers Urban Pharmaceuticals Inc.
• China National Bluestar (Group) Co., Ltd.
• Silicones, etc.
• Formosa Plastics Corporation
• AgraTech LLC
• PCC Bakki Silicon
• Silicon Products Company, Inc.

The competitive landscape of the silicon powder market is characterized by a mix of established players and emerging firms striving to capture market share through innovation, product differentiation, and strategic partnerships. Major companies like Wacker Chemie AG and Shin-Etsu Chemical Co., Ltd. dominate the market due to their extensive product portfolios, robust distribution networks, and strong focus on research and development. These companies are actively investing in advanced production technologies and sustainable practices to enhance their market position and cater to the growing demand for high-quality silicon powder in various applications. Furthermore, collaborations and joint ventures among leading players are becoming increasingly common as they seek to leverage each other's expertise and resources to drive growth and expand into new markets.

Additionally, companies such as Elkem ASA and Dow Inc. are focusing on strategic acquisitions to enhance their product offerings and gain a competitive edge. By acquiring smaller firms with niche technologies or expertise, these market leaders can diversify their portfolios and access new customer segments. The emphasis on sustainability and eco-friendly practices is also influencing the competitive landscape, prompting companies to invest in green technologies and materials to meet regulatory requirements and consumer expectations. This focus on sustainability is becoming a significant differentiator among competitors, as companies that prioritize environmentally friendly practices are likely to gain favor among consumers and business partners alike.

Moreover, the market is witnessing the rise of several innovative startups that are entering the silicon powder segment with unique products and solutions. These companies often capitalize on advancements in nanotechnology and materials science to create specialized silicon powders that cater to specific industry needs, such as high-capacity battery applications or advanced electronic components. The agility and adaptability of these startups enable them to respond quickly to changing market dynamics and consumer demands, posing a challenge to established players. As the silicon powder market continues to evolve, the competitive landscape will be shaped by the interplay between established companies, emerging firms, and innovative technologies, resulting in a dynamic and rapidly changing marketplace.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Dow Inc.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Elkem ASA
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 AgraTech LLC
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 REC Silicon ASA
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Silicones, etc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Wacker Chemie AG
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Ferro Corporation
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 PCC Bakki Silicon
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Huanghe Whirlwind Co., Ltd.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Formosa Plastics Corporation
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Shin-Etsu Chemical Co., Ltd.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Silicon Products Company, Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Hoshine Silicon Industry Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Kremers Urban Pharmaceuticals Inc.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 China National Bluestar (Group) Co., Ltd.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Silicon Powder Sales Market, By Grade
    • 6.1.1 Industrial Grade
    • 6.1.2 Pharmaceutical Grade
    • 6.1.3 Food Grade
    • 6.1.4 Cosmetic Grade
  • 6.2 Silicon Powder Sales Market, By Application
    • 6.2.1 Construction
    • 6.2.2 Electronics
    • 6.2.3 Automotive
    • 6.2.4 Energy
    • 6.2.5 Others
  • 6.3 Silicon Powder Sales Market, By Product Type
    • 6.3.1 Densified Silicon Powder
    • 6.3.2 Aerosolized Silicon Powder
    • 6.3.3 Granular Silicon Powder
    • 6.3.4 Micronized Silicon Powder
    • 6.3.5 Nano Silicon Powder
  • 6.4 Silicon Powder Sales Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Distributors
    • 6.4.3 Online Retail

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Silicon Powder Sales Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Silicon Powder Sales market is categorized based on

By Product Type

• Densified Silicon Powder
• Aerosolized Silicon Powder
• Granular Silicon Powder
• Micronized Silicon Powder
• Nano Silicon Powder

By Application

• Construction
• Electronics
• Automotive
• Energy
• Others

By Distribution Channel

• Direct Sales
• Distributors
• Online Retail

By Grade

• Industrial Grade
• Pharmaceutical Grade
• Food Grade
• Cosmetic Grade

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Wacker Chemie AG
• Shin-Etsu Chemical Co., Ltd.
• Elkem ASA
• Dow Inc.
• Hoshine Silicon Industry Co., Ltd.
• REC Silicon ASA
• Huanghe Whirlwind Co., Ltd.
• Ferro Corporation
• Kremers Urban Pharmaceuticals Inc.
• China National Bluestar (Group) Co., Ltd.
• Silicones, etc.
• Formosa Plastics Corporation
• AgraTech LLC
• PCC Bakki Silicon
• Silicon Products Company, Inc.