HS Code:
Silicon, classified under HS Code 2804, encompasses elemental silicon in various forms, including metallurgical-grade silicon, silicon metal, and other silicon-based products used primarily in the production of semiconductors, solar cells, and aluminum alloys. Silicon is a critical raw material in the electronics and renewable energy sectors, with its demand driven by technological advancements and the global push for sustainable energy solutions. The category also includes silicon compounds used in industrial applications.
Total Trade Volume
USD 10.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 4.2 billion
40% of total trade of total trade
Increasing
USD 1.1 billion
10.5% of total trade of total trade
Stable
USD 900 million
8.6% of total trade of total trade
Increasing
USD 800 million
7.6% of total trade of total trade
Stable
USD 700 million
6.7% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like the EU Single Market or USMCA)
Rising demand for silicon in solar panel production
Increased trade volume as countries invest in renewable energy infrastructure, particularly in Europe and North America
2021-2023
Shift towards high-purity silicon for semiconductors
Higher prices and trade focus on countries with advanced refining capabilities like Germany and Japan
2020-2022
Supply chain disruptions due to geopolitical tensions
Temporary shortages and price volatility, with diversification of supply sources becoming a priority
2022
The European Union introduced provisional anti-dumping duties on silicon imports from China to protect domestic producers from unfairly priced imports.
March 2023
Potential increase in silicon prices in the EU market and a shift in trade flows towards other suppliers like Norway and Brazil.
The US government announced incentives under the CHIPS Act to boost domestic production of silicon for semiconductors, reducing reliance on imports.
August 2022
Likely reduction in import volumes over the long term as domestic capacity increases.
China implemented tighter export controls on silicon to prioritize domestic demand, especially for its solar and tech industries.
October 2023
Global supply constraints and higher prices, prompting importers to seek alternative sources.