Research Offers 10-Year Forecast on Polycrystalline Silicon Market
Polycrystalline silicon is a high purity form of silicon also referred to as Poly-Si or polysilicon. Polycrystalline silicon is used as raw material for solar photovoltaic and electronics industry. For solar photovoltaic and semiconductor manufacturing, polysilicon of purity 9N (99.9999999%) and 11N (99.999999999%) respectively are required. The polycrystalline silicon is manufactured by any of the three process namely Czochralski process/ Siemens process, Float Zone Method and Bridgman–Stockbarger technique. The process starts with quartz and carbon heated in an arc furnace producing metallurgical grade silicon which is then processed further producing semiconductor grade and solar PV grade polycrystalline silicon. It has been observed that the market is oversupplied by the top players of the polycrystalline silicon manufacturers such as Mitsubishi Polycrystalline Silicon America Corporation, Mitsubishi Polycrystalline Silicon America Corp., GCL-Poly Energy Holdings Limited etc. which has led to the sharp spot price drop of polycrystalline silicon. The global polycrystalline silicon market is expected to grow significantly at a high CAGR during the forecast period.
Global Polycrystalline Silicon Market: Drivers and Restraints:
Polycrystalline silicon is an important raw material for both solar PV and semiconductor industries. Also, no other substitutes can accomplish the properties benefits and high purity needs as polycrystalline silicon. Thus, demand for polycrystalline silicon will be there with fluctuations in the price rate depending on the supply and demand cycle. The microelectronic and solar PV are the two main end-use sectors driving the global polycrystalline silicon market. The increasing demand for solar panels since they are the cheap source of green electricity propels the global polycrystalline silicon market. Also, government policies for reduction on carbon footprints and adoption of solar panels aid in the increasing consumption of polycrystalline silicon.
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However, technological challenges in the manufacture of polycrystalline silicon might restrain the global polycrystalline silicon market.
Global Polycrystalline Silicon Market: Segmentation
On the basis of polycrystalline silicon purity, polycrystalline silicon market is segmented into:-
On the basis of polycrystalline silicon form, polycrystalline silicon market is segmented into:-
On the basis of end use, polycrystalline silicon market is segmented into:-
Solar Photovoltaic (PV)
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Global Polycrystalline Silicon Market: Region Wise Outlook
The global polycrystalline silicon market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). In terms of production and consumption, Asia Pacific holds a majority of the share in the global polycrystalline silicon market. China is prominent in manufacturing solar modules which consume around more than 50% of polycrystalline silicon. Also, higher import duties on North American manufacturers of polycrystalline silicon has led to benefit Asia Pacific manufacturers especially South Korea and China. The polycrystalline silicon market in Western Europe is expected to expand relatively at a slower pace due to the economic conditions. Latin America followed by MEA are expected to share gain relative high market share during the forecast period.
Global Polycrystalline Silicon Market: Key Players
Some of the key players identified in the global polycrystalline silicon market includes:
Hemlock Semiconductor Group
GCL-Poly Energy Holdings Limited
LDK Solar Co. Ltd.
REC Silicon ASA
Daqo New Energy Corp
Wacker Chemie AG
OCI Company Limited
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