Polysilicon Market Projected to reach at a CAGR of 5.2% during the forecast period 2028 || Wacker Chemise AG, OCI Company Ltd., GCL-Poly Energy Holdings Limited., TBEA Co. Ltd.

Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalogue by adding a fresh study titled “Polysilicon Market Projected to reach at a CAGR of 5.2% during the forecast period 2028 - MRRSE”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2026.The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated to growth of manufacturers in global market for Polysilicon Market. Along with these insights, the report provides the readers crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.

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Polysilicon, also known as polycrystalline silicon, is a highly purified form of silicon. Polysilicon possesses semiconductor properties and attributing to this, it is prevalently used in the solar as well as in electronics industry. Polysilicon is manufactured through three main commercial processes, namely the Siemens process, FBR process and upgraded metallurgical grade process. The polysilicon obtained from the Siemens process is in the form of rods, while the one obtained from the FBR technology is in a granular form and more efficient. Applications of polysilicon are based on its purity. For instance, 9N pure polysilicon is used in solar applications and 11N pure polysilicon is used in semiconductor applications. Generally, polysilicon is of two grades, namely solar and electronics. Solar grade polysilicon is used in photovoltaic cell manufacturing, whereas electronics grade polysilicon is used in the manufacturing of integrated circuits, power conversion devices, optics and micro-electromechanical systems (MEMS), among others products.

The global polysilicon market is estimated to be valued at US$ 7.1 Bn by 2018 end and is expected to reach US$ 11.8 Bn by the end of 2028, expanding at a CAGR of 5.2% over the forecast period. The global polysilicon market is anticipated to represent an incremental opportunity of US$ 4.7 Bn between 2018 and 2028.

Solar energy is a low cost energy source and owing to this, governments of several countries and the industry sector are emphasizing on the expansion of their solar energy capacities. In 2017, the solar industry witnessed a positive start for power generation and increased its installed capacity to 291.9 GW. Moreover, in 2017, China alone accounted for more than 30 GW and Europe crossed the 100 GW mark for installed solar PV capacity. In terms of solar installation, the global solar PV market is expected to witness 1.5X growth during 2017 – 2020. Thus, this rapid growth in solar PV installations in urban as well as semi-urban areas across the globe is expected to significantly contribute to the overall growth of the polysilicon market. Along with this, manufacturers of solar PV modules are focusing on technological advancements in order to gain a high conversation rate and high efficiency in solar cells. Mono-based solar PV installations across the globe are expected to register a relatively high growth rate as compared to multi-based polysilicon solar PV installations, owing to their high efficiency, which in turn is expected to boost the demand for the solar grade polysilicon market. However, the antidumping and countervailing duties imposed by China and the U.S. governments on polysilicon and solar panels have hampered the growth of the polysilicon market. Despite this, the government of China is enormously investing in the development of the solar industry, which in turn is expected to drive the China polysilicon market and provide impetus for the growth of domestic polysilicon manufacturers.

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From a regional perspective, the polysilicon market is dominated by China in terms of production and consumption. It is expected that the polysilicon market in China is projected to witness relatively healthy growth over the forecast period. This can be mainly attributed to the rising government investments in the solar industry and significant growth of the electronics and semiconductor industry in China. Moreover, the India polysilicon market is estimated to register a double-digit CAGR over the forecast period. In terms of consumption, SEA and India, together, are estimated to hold over 27% of the polysilicon market in 2018. However, the detrimental impact of antidumping and countervailing duty on the North America polysilicon market will slow down the growth of the market during the initial forecast years.

Some of the players reported in this study on the global polysilicon market include Wacker Chemie AG, OCI Company Ltd., GCL-Poly Energy Holdings Limited., TBEA Co. Ltd, REC Silicon ASA., CSG Holdings Co., Ltd., Tokuyama Corporation, Daqo New Energy Co., Ltd., Mitsubishi Materials corporation, Hanwha Chemical Co., Ltd, Asia Silicon, Osaka Titanium Technologies Co., Ltd., Qatar Solar Technologies and Hemlock Semiconductor Corporation, among others. Moreover, polysilicon manufacturers have been channelizing efforts towards strengthening their production capacity volumes and focusing on specific regions for the same to cater to regional markets. This is expected to positively impact the polysilicon market in the near future.

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