Trichlorosilane Market: Growing Demand for Solar Photovoltaics to Surge Demand

The global trichlorosilane market size is likely to gain momentum owing to the increasing investments in the solar sector. Fortune Business Insights, in its latest report, titled "Trichlorosilane Market Size, Share & Industry Analysis, By Production Process (Hydrochlorination, Direct Chlorination), By Application (Polysilicon, Chemical Intermediate) Others and Regional Forecast, 2022-2029.", states that growing demand for solar photovoltaics and increasing demand for alternate energy sources are anticipated to be the driving factors for the growth of the market in the forthcoming years.

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Trichlorosilane is an extremely volatile, colorless liquid manufactured by a reaction between powdered silicon and hydrogen chloride. Being inflammable, it is easily dissolved with organic solvents and fumes that are present in air. Furthermore, it is useful in the production of silicone, and silicon that are extensively used in solar panels and semiconductors. Moreover, it is in great demand from the electronics industry as it is beneficial in manufacturing polycrystalline silicon. Moreover, when combined with water, it decomposes steadily to form a silicone polymer while extracting off hydrochloric acid.

What does the Market Report Include?

The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. Moreover, the report includes information sourced from advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain the market stronghold between 2019 and 2026.

Drivers and Restraints:

Growing Demand for Solar Photovoltaics to Surge Demand

With rising concerns over the depletion of fossil fuels, the solar photovoltaic (PV) is anticipated to play a pivotal role in the global battle against climatic changes. Several PV modules offer better performance and are highly durable. The threat of global warming looms large and is one that is not to be taken lightly. For instance, the Intergovernmental Panel on Climate Change (IPCC) consists of more than 1,300 scientists from the United States and several other countries have predicted a rise in temperature by 2.5 to 10 degrees Fahrenheit for the coming century. Thereby, to mitigate the effects of global warming, there has been a sharp rise in the adoption of renewable clean energy sources. Increasing adoption of solar photovoltaics will contribute to the growth of the market during the forecast period.

Regional Analysis:

Rising Electronics Industry in Asia-Pacific to Stimulate Demand

Among the regions, Asia-Pacific will witness substantial growth for the market during the forecast period. This is ascribable to factors such as the rising electronic industry owing to the huge demand for gadgets from countries such as India, and China. On the other hand, North America will register promising growth for the market owing to increasing government investment to develop clean energy sources. The market in Europe is expected to rise owing to the large-scale production of semiconductors required for solar PVC. Moreover, technological advancements in solar PVs in Europe will contribute to the growth of the market during the projected horizon. Latin America is witnessing government efforts to lower carbon footprints that will bode well for the growth of the market during the projected horizon. Overall, the market in the Middle East and Africa is anticipated to gain momentum backed by continual advancement in technology and growing demand for electronics between 2019 and 2026.

Competitive Landscape:

Industries AG's Joint Venture with Wynca to Boost Demand

In August 2018, Industries AG, a Germany-based company, announced that it has entered into a joint venture with a Chinese Company, Wynca, to produce fumed silica. The production facility is reported to be planned in Zhenjiang, China. The new capacity will meet the increasing demands for silicones, sealants, among other products. Moreover, is expected to hold 60% stakes in the joint venture that will produce silica under the marketed name Aerosil. Harald Schwager, Deputy Chairman,Industries, says, "The joint venture will allow us to consistently strengthen our resources. Additionally, Wynca is an able partner and we look forward towards strong and reliable cooperation in cementing our business in the lucrative Chinese market." Adoption of strategies such as product expansion offering to cater to the increasing consumer demand, collaboration, and joint venture by the companies to gain maximum trichlorosilane market revenue will boost demand for the market in the forthcoming years.

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List of the Companies Operating in the Market:

Wacker Chemie AG
Dow Inc.
Wynca Group
Linde AG
OCI
SIAD
Hemlock Semiconductor
KCC Corporation
Tokuyama Chemicals (Zhejiang) Co., Ltd.
Among others

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This release was published on openPR.