Silicon Monoxide Market By Product ((3N)99.9%, (4N)99.99%, and Others), By Application (Coating Applications, Anode Material Application, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Increased rate of deposition

Due to its fast rate of deposition and ease of evaporation utilizing a low-cost resistance heat coating technique, silicon monoxide is a necessary material. This is the main driver fueling the growth of the global silicon monoxide market. Similar to this, the target market is being driven by the rising demand for anode-based silicon material for lithium-ion batteries, as silicon has a higher capacity than other materials. For example, according to the National Minerals Information Center (2018), the demand for lithium in battery applications drove a 23% growth in global lithium production in 2018 to 85,000 tons from 69,000 tons in 2017. Furthermore, silicon has another use for creating various silicon-based products due to its thermal and environmental stability.