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Solar Photovoltaic Wafer Market to Perceive Substantial Growth During 2017- 2027

12-13-2018 12:35 PM CET | Energy & Environment

Press release from: Future Market Insights

Solar Photovoltaic Wafer Market to Perceive Substantial Growth

Solar modules made from wafers of crystalline silicon have been the dominant technology in terrestrial photovoltaic. A slab or solar photovoltaic wafer is used to create a photovoltaic cell. More than 85% of solar cells currently made worldwide consist of wafer-based silicon cells. The wafer is subjected to high temperature in the presence of phosphorous oxychloride to induce into it the physical properties required to produce electricity. The top of the solar photovoltaic wafer is coated with an anti-reflective material like silicon nitride to increase the light absorption capacity by minimizing the reflection. The solar photovoltaic wafer industry is anticipated to grow at a significant CAGR over the forecast period.

Global solar photovoltaic wafer market: Market Dynamics

The global solar photovoltaic wafer market is being driven by the increasing usage of solar power in various applications like electric vehicles, etc. The demand for highly efficient solar photovoltaic wafers needed to recharge electric vehicle battery can prove to be a major factor responsible for the growth of the global solar photovoltaic wafer market. Moreover, technological developments taking place in the electrical and electronics sector have led to an increase in demand for solar based energy.

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Another important factor driving the global solar photovoltaic wafer market are the numerous advantages offered by solar photovoltaic wafers. For instance, solar photovoltaic wafers offer better durability and longevity. The solar photovoltaic wafers are also more efficient in comparison to the other alternatives available in the market. All of these factors, combined together, will continue to affect the market positively during the forecast period.

Global solar photovoltaic wafer: Market Restraints

Solar photovoltaic wafer based photovoltaic panels are costlier than thin film photovoltaic panels. This factor, in particular, might restrain the growth of the market in near future.

Global solar photovoltaic wafer: Market Trends

These days, manufacturers are focusing on decreasing the overall thickness of the wafer used in solar cell manufacturing. Using thinner wafers would reduce the overall cost of the raw material used as manufacturers will be able to cut higher number of wafers from a single brick. The major focus of manufacturers is reducing the production cost, which they are trying to achieve by reducing waste production during polysilicon crystallization, recycling saw dust and improving material handling during the production process.

Global solar photovoltaic wafer: Market Segmentation

The global solar photovoltaic wafer market can be segmented on the basis of material type and region

On the basis of material type, the global solar photovoltaic wafer market can be segmented into the following categories:

Monocrystalline wafer
Multicrystalline wafer/Polycrystalline wafer
Global solar photovoltaic wafer: Market Regional Outlook

The global market for solar photovoltaic wafers is being dominated by the Asia Pacific region. China is the largest manufacturer of solar photovoltaic wafers. A number of big manufacturers across the value chain of the global photovoltaic wafer market are essentially China-based players. It is most likely that North America, Europe and Japan will continue to hold a significant share in the global solar photovoltaic wafer market over the forecast period. Middle East and Africa is expected to show steady growth over the forecast period. The overall global solar photovoltaic wafer market is projected to expand at a moderate CAGR over the forecast period.

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Global solar photovoltaic wafer: Market Participants

Some of the market participants identified across the value chain of the global solar photovoltaic wafer market are:

Targray Technology International Inc, Lanco Solar, , LDK Solar, Renewable Energy Corporation (REC), Solarworld, MEMC Electronic Materials, Inc. and Nexolon Co., Ltd.

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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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