The global Polysilicon market is expected to develop USD 11.9 Billion by 2028, at a compound annual increase in price (CAGR) of 4.2% throughout the forecast period.
The key factors driving rapid growth of electronics and solar PV. Additionally, with the increasing demand by the populace for flagships consumer electronics, it widely demanded in the semiconductor industry for producing electronic chips.
The polysilicon market is anticipated to witness productive growth due the swelling demand for booming photovoltaic cells industry, smartphones, diminishing residential photovoltaic mechanisms installed cost, accelerating economic growth and growing urban population. The market is accelerated with escalated preference for mono-crystalline polysilicon, higher electricity production through solar energy, progressing polysilicon projects and growing preference for fluid bed reactor production process. However, growth hampering factors in the industry such as stringent regulations, fluctuating silicon metal prices, increasing diamond wafer penetration in China and high competitive environment.
Geographically, the global polysilicon market has five segmentation inclusive of Latin America and the Middle East & Africa, Asia-Pacific, Europe and North America. China in Asia-Pacific is expected to gold the leading rank at global polysilicon market in 2017 due to propelling demand for country’s electronics and automotive division, rapid urbanization, exports of premium mechanisms and the high demand for the product in end-use industries. China is the largest supplier and producer of solar PV installations across the world. Also, China, Japan and South Korea are the key electronic component producers of electronic grade polysilicon market, which are expected to boost the demand for polysilicon in the region.
At second position of global polysilicon market, North America stands. Due to the government initiatives in the field of renewable energy sources, the market is expected to witness major growth. The European market with a moderate growth rate and increased demand for consumer electronics is anticipated to drive the market growth in the years to come. Lastly, markets of Latin America, Middle East & Africa will witness significant growth in the years to follow owing to rapid infrastructural developments and rapid industrialization in Qatar, the UAE, among others.
The global polysilicon market has segmentation based on manufacturing technology, structural form, end-use industry and region. On the basis of manufacturing technology, the global polysilicon market has sub-segmentation which is inclusive of fluidized bed reactor process, Siemens process and upgraded metallurgical-grade silicon process. Based on end-use industry, the global polysilicon market has categories which are electronics, solar power generation, and others. On the basis of structural form, the global polysilicon market is divided into granules, chips, chunks and rods. The global polysilicon market has been studied across five key regions—Europe, Asia-Pacific, North America, Latin America, and the Middle & East Africa.
Key company profile in the Global Polysilicon Market Are Daqo New Energy Co., Ltd., Mitsubishi Materials Corporation, Hanwha Chemical Co., Ltd, Asia Silicon, Osaka Titanium Technologies Co., Ltd., Qatar Solar Technologies, Hemlock Semiconductor Corporation, Wacker Chemie AG (Germany), Mitsubishi Polycrystalline Silicon America Corporation (US), Hemlock Semiconductor Operations and Hemlock Semiconductor (US), OCI Solar Power LLC (US), GCL-Poly Energy Holdings Limited (China), Daqo New Energy Corp. (China), REC Silicon ASA (Norway)
Polysilicon Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 11.9 Billion|
|Growth Rate||CAGR of 4.2% during 2021-2028|
|Segment Covered||by Component, application, manufacturing technology, basis of Form, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Daqo New Energy Co., Ltd., Mitsubishi Materials Corporation, Hanwha Chemical Co., Ltd, Asia Silicon, Osaka Titanium Technologies Co., Ltd., Qatar Solar Technologies, Hemlock Semiconductor Corporation, Wacker Chemie AG (Germany), Mitsubishi Polycrystalline Silicon America Corporation (US), Hemlock Semiconductor Operations and Hemlock Semiconductor (US), OCI Solar Power LLC (US), GCL-Poly Energy Holdings Limited (China), Daqo New Energy Corp. (China), REC Silicon ASA (Norway)|
Key segments of the Polysilicon Market
by application, (USD Billion)
- solar photovoltaic
by Component, (USD Billion)
- Solar PV
manufacturing technology, (USD Billion)
- Siemens process
- fluidized bed reactor process
- upgraded metallurgical-grade silicon process
basis of Form, (USD Billion)
Region Overview, (USD Billion)
- North America
- United States of America
- the Netherlands
- The United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America