Press release
Trichlorosilane Market is Forecasted to Reach US$ 15.9 Billion in 2030, Says Stratview Research
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 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
Market Statistics:
Market Size in 2023: US$ 8.7 billion
Market Size in 2030: US$ 15.9 billion
Growth (CAGR): 6.8% during 2024-2030
Leading Application Type: Solar polysilicon
Leading Region: Asia-Pacific
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 based on application type & region
Based on 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 suggests that 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 world is shifting towards eco-friendly alternatives for energy generation, and solar energy will provide the most promising future.
• 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 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 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
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About us -
Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, 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 make convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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