Press release
Polysilicon Market Research Report 2024 to 2034 | Wacker Chemie AG, OCI Company Ltd., GCL-Poly Energy Holdings Limited, TBEA Co. Ltd, REC Silicon ASA.
Polysilicon Market
The augmentation in polysilicon adoption from the solar power segment escalates the poly-Si market growth. The surging demand for polysilicon for myriad commercial uses, comprising manufacturing of multi-crystalline solar panels and others, and the innovation and expansion of diverse end-use industries in emerging economies directly influence the polycrystalline silicon market's growth rate.
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Due to price inconsistency, the dearth of raw material demand and supply is a roadblock to polycrystalline silicon market expansion. The expensive research and development, the government's strong rules on commercial operations, proliferating export and import taxes, and strict international trade sanctions inhibit the market growth of polycrystalline silicon. High capital investments hamper the potential of poly-Si market expansion.
Regional Outlook
North America possesses a significant share and is not resting on its laurels. The United States foresighted efforts thrust North America to expand, with activities like the boom in consumer electronics output and curtailment of carbon emissions, which dramatically encouraged polysilicon market growth.
Asia Pacific clutches the precedent position in the poly-Si market because of the surge of power outages, swift requirement for a reliable power supply, investment schemes by the government to promote industrial expansion, amplifying research and development, and rapid urbanization rate in emerging economies like India and China.
"The polysilicon market witnesses sustained growth ushered by strengthening demand. Technological breakthroughs and carbon-neutral strategies augment the market dynamics during the forecast period." - says an FMI analyst.
Key Takeaways
- The solar grade segment clutches a significant share of 79.20% in 2024.
- India's polysilicon market to evince a CAGR of 14.70% between 2024 and 2034.
- China's polysilicon industry to exhibit an upsurge at a CAGR of 11.00% between 2024 and 2034.
- Sales of polysilicon in Spain indicate a CAGR of 7.30% through 2034.
- From 2024 to 2034, Canada's polysilicon industry to show escalation at a CAGR of 6.00%.
- France's polysilicon industry to infer a CAGR of 6.90% from 2024 to 2034.
- Italy's polysilicon industry to imply augmentation at a CAGR of 6.40% between 2024 and 2034.
- Through 2034, the United States polysilicon market to imply growth at a CAGR of 5.50%.
- Germany's polysilicon industry to exhibit a CAGR of 4.60% through 2034.
- Japan's polysilicon industry to imply expansion at a CAGR of 4.10% through 2034.
- From 2024 to 2034, South Korea's polysilicon industry to record at a CAGR of 4.40%.
- The United Kingdom polysilicon industry reflects expansion between 2024 and 2034 at a CAGR of 3.90%.
- Australia's polysilicon market registered a CAGR of 3.70% from 2024 to 2034.
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Competitive Landscape
The market is somewhat fragmented and presents favorable circumstances to major polysilicon manufacturers and startups, but high investment expenditures curb entry to small or novel poly-Si vendors. Polysilicon producers emphasize strengthening their production ability across diverse regions to satisfy spurring demand from developing countries with significant production.
Noteworthy Developments
- Daqo New Energy Corp., a polysilicon producer based in China, commenced its pilot production at a novel factory in December 2021. The production plant was anticipated to produce 35,000 tonnes of polysilicon per year initially and then slowly rise to 105,000 tonnes yearly.
- In May 2021, REC Silicon ASA, a polysilicon and silicon gas supplier headquartered in Norway, announced the restart of its Lake Moses Plant in Washington in 2023. Earlier the plant was shut down in May 2019 over the imposition of tariffs by China on polysilicon manufactured by the United States.
Essential Polycrystalline Silicon Manufacturers
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
Hemlock Semiconductor Corporation
Key Segments
By Grade Type:
Solar Grade
Electronics Grade
By Region:
North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East and Africa (MEA)
Related Reports:
Silicone Market: https://www.futuremarketinsights.com/reports/silicone-industry-market
Pyrolytic Boron Nitride Market: https://www.futuremarketinsights.com/reports/pyrolytic-boron-nitride-market
Polyether Modified Polysiloxane Market: https://www.futuremarketinsights.com/reports/polyether-modified-polysiloxane-market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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