Polysilicon Market to Record an Exponential CAGR by 2022

Polysilicon Market is expected to cross USD 9 Billion mark at the end of the forecasted period and is expected to show a staggering growth at CAGR of approximately 13.3% from 2016 to 2022.

Market Highlight
Polysilicon is a hyper pure form of silicon and is the second most abundant element. Due to its semiconductor-like material properties, polysilicon is used as feedstock material in most solar energy applications. It is used majorly across two industries: PV industry and Semiconductor Industry.

The global polysilicon market is driven by the growth in PV and Semiconductor industries. The PV industry is the largest consumer of such silicon. The design of photovoltaic cells has evolved to a great extent over a period of time. Polysilicon is an initial building block for the process of manufacturing silicon based Solar PV. This has fueled the demand across the globe, with well-established markets being APAC and North America.

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Regional Analysis
Furthermore, polysilicon attains the highest level of purity, and can therefore increase the performance of semiconductors and solar cells. The market thus is performing well and is expected to benefit from the industry trends such decreasing production cost, decreasing polysilicon prices and strong growth of the solar PV market. The region of APAC has witnessed a remarkable growth in the polysilicon market due to high demands from the lands of China and India. Also, APAC is currently valued as the largest and fastest growing market for this silicon and is expected to keep up the pace by 2022.

Key Players
• Wacker Chemie AG
• GCL- Poly Energy Holdings Limited
• Tokuyama Corporation
• Hemlock Semiconductor Corporation
• REC Silicon ASA
• OCI Company Ltd.
• Activ Solar Gmbh
• Daqo New Energy Corporation
• SunEdison Inc.
• Woongjin Polysilicon Co. Ltd.

Market Research Analysis:
The market is highly application based. Its dependency on the end-use industry has widened over a period of time. The silicon is used extensively in both PV Industry and Semiconductor industry.

It is expected that the global Polysilicon market will advance with higher growth rate as compared to previous years. However the current challenge for the market is industrial overcapacity, huge capital requirement, and Anti-dumping policy. The ever increasing demand for silicon wafers and solar cell wafers from the most prominent players in the market is driving the polysilicon market. Based on End-use, PV Industry leads the market due to high demand for PV installation across the world. On the basis of region, APAC takes the lead as the largest as well as fastest growing market, followed by North America. The US witnessed the largest consumption of silicon in 2015 and the trend is expected to be followed.

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Scope of the report
This study provides an overview of the global Polysilicon industry, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global polysilicon market as purity grade, form, and end-use. On the basis of purity grade it is segmented as electronic grade, medium grade, and upgraded metallurgical grade. On the basis of form it is segmented as chunk, granule, and others. On the basis of end-use it is segmented as PV industry and semiconductor industry.

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This release was published on openPR.