Trichlorosilane Market is Forecasted to Reach US$ 15.9 billion in 2030, Says Stratview Research

The global Trichlorosilane Market is projected to witness a growth rate of 6.8% annually from 2024 to 2030, with an anticipated size of US$ 15.9 billion in 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global Trichlorosilane Market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/2997/trichlorosilane-market.html#form

Report Highlights: `
Market Size in 2030: US$ 1.1 billion
Growth (CAGR): 6.8% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 2
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Trichlorosilane Market:
The global Trichlorosilane Market is segmented Application Type, & Region

By Application Type: Solar polysilicon is estimated to be the biggest application of trichlorosilane whereas fumed silica is the most rapidly expanding category in the market during the forecast period. Solar-grade polysilicon is a primary raw material for producing solar panels; this polysilicon is mainly produced by the Siemens process using trichlorosilane as the primary raw material. The continuously increasing Solar PV installation is driving the demand for trichlorosilane. The trichlorosilane market for solar-grade PV is growing at a CAGR of more than 6% in the forecasted period, which signifies the growing demand for trichlorosilane in the energy & power industry. Fumed silica is the fastest-growing segment due to the widespread applications of silicone-based products. Rubber containing silica, adhesives, inks, coatings, etc., is estimated to drive the demand for trichlorosilane in the coming future.

To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2997/trichlorosilane-market.html#form

Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis Asia-Pacific region is forecasted to be the biggest and fastest-growing region driven by China's dominant presence. This growth outlook is majorly attributed to the following-
• China is a significant country in the production of polysilicon. According to IEA, China has the largest share of global polysilicon production. Hence, it makes Asia-Pacific the most dominant region in the world.
• China also dominates the fumed silica segment. According to estimates, China has an almost 40% share in the global fumed silica production due to its large silica producers, the availability of raw materials, and cheap labor.
• Countries like Japan, Thailand, and India are also posing optimistic scenarios about the demand for solar-grade polysilicon, thereby driving the demand for trichlorosilane in the region.

Trichlorosilane Market Drivers:
The growth of the Trichlorosilane Market is driven by several factors.
• Solar panel installation is increasing, and it has almost doubled to reach 447 GW in 2023 from 236 GW in 2022.
• This extensive rise in solar PV installation creates significant demand for PV-grade polysilicon produced using trichlorosilane by the Siemens process.
• Apart from solar applications, trichlorosilane supports the chemical industry by enabling the production of silane, fumed silica, and functional silane.
• The growth of the building and construction industry presents an optimistic scenario for the trichlorosilane market, as trichlorosilane is a significant precursor for paintings, adhesives, and surface treatment. These applications drive the market, particularly in emerging economies.

Top 10 Companies in the Trichlorosilane Market:
Stratview Research has identified the following companies as the top market players:
• Sanfu Co. Ltd.
• Wacker Chemie AG
• Chenguang New Materials
• Zhejiang Xinan Chemical Group Co. Ltd.
• OCI Holdings Company
• Asia Silicon
• Tokuyama Corporation
• Elkem ASA
• Hubei New Blue Sky New Materials Co., Ltd
• GCL Technology Holdings Ltd.
• Evonik Degussa AG
• KCC (Momentive Performance Materials)
• Shin-Etsu Chemical Co. Ltd.
• Gelest Inc.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Trichlorosilane Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Functional Silane Market: https://www.stratviewresearch.com/3882/functional-silane-market.html
• Fumed Silica Market: https://www.stratviewresearch.com/1159/fumed-silica-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.