Polysilicon Market Size, Growth Trends, Upcoming Statistics, Industry Share, Regional Analysis, Top Key Players and Global Application 2023

Global Polysilicon Market: Information by Manufacturing Technology (Siemens Process, FBR Process, and Upgraded Metallurgical-Grade Silicon Process), End-Use Industry (Solar, Electronics), Structural Form (Chips, Chunks, Rods), Region—Forecast till 2023

Market Analysis:

The Global Polysilicon Market is expected to have a remarkable growth at a significant CAGR over the predicted years. Also called polycrystalline silicon it is an immensely purified version of silicon. Owing to its semiconductor properties, it is used prevalently in the electronics and solar industry. There are three types of processes to manufacture polysilicon- upgraded metallurgical-grade silicon process, fluidized bed reactor and Siemens process. It is categorized into two grades- electronics and solar. The electronics grade is utilized to manufacture micro-electromechanical systems, optics, power conversion device, integrated circuits and others. The solar grade is used in manufacturing photovoltaic cell.

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There are several factors that is propelling the growth of the Polysilicon Market. These factors according to MRFR (Market Research Future) report include increase in solar PV installations, growing need for electronic devices across the world, government subsidies, urbanization, improved living standards, growing population, increasing need of polycrystalline silicon especially in the PV sector, rising need for cleaner and efficient renewable energy, favorable government policies and regulations in tandem with public and private incentives and consumers change in preference. On the contrary, factors such as increasing diamond wafer penetration, highly competitive market, stringent policies and regulations and fluctuating prices of silicon metal may hamper the growth of the Polysilicon Market over the predicted years.

Market Segmentation:

Market Research Future report offers a comprehensive segmental analysis of the Polysilicon Market on the basis of Manufacturing Technology, End Use Industry, and Structural Form.

Based on Manufacturing Technology, the Global Polysilicon Market has been segmented into Siemens process, fluidized bed reactor process, and upgraded metallurgical-grade silicon process.

Based on End Use Industry, the Global Polysilicon Market has been segmented into solar power generation, electronics, and others. Of these, solar power generation will have the largest share in the market over the predicted years.

Based on Structural Form, the Global Polysilicon Market has been segmented into chips, chunks, granules, and rods.

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Regional Analysis:

Based on Region, the Polysilicon Market covers growth opportunities and latest trends across North America, Latin America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA). Of these, APAC accounts for the foremost share of the Global Polysilicon Market. Prolific expansion of the solar industry in the region has helped APAC position itself at the top in the global polysilicon market. China is the largest supplier as well as producer of solar PV installations in the world. Moreover, established electronics industry also generates considerable demand for polysilicon. China, Japan, and South Korea are among the major electric component producers. North America has secured the second most significant share of the market in 2017 and is expected to maintain its position over the predicted years. Government initiatives encouraging the use of renewable energy resources has led to the subsequent development of the solar energy sector in the region which is estimated to reflect positively on the growth of the North America market. Surging demand for consumer electronics goods is likely to drive the Polysilicon Market in the European region. The MEA market will witness significant progress in the coming years on account of large-scale industrialization and infrastructure development in the Middle East region.

Key Players:

Key players profiled in the Polysilicon Market include Tokuyama Corporation (Japan), Qatar Solar Technologies (Qatar), Osaka Titanium Technologies Co. Ltd (Japan), SunEdison Inc. (US), Daqo New Energy Corp. (China), REC Silicon ASA (Norway), OCI Solar Power LLC (US), GCL-Poly Energy Holdings Limited (China), Mitsubishi Polycrystalline Silicon America Corporation (US), Hemlock Semiconductor Operations and Hemlock Semiconductor (US), and Wacker Chemie AG (Germany).

March 2019 - Players within the polysilicon market are constructing new facilities to keep up with the increasing demand. Daqo New Energy Corp, China-based polysilicon producer is expanding its Xinjiang production facilities to reach its full capacity and minimize the price of polysilicon. This can prove fruitful for end users.
February 2019 - JinkoSolar, world's largest solar panel manufacturer, has signed a new 10,350MT high-purity polysilicon supply deal with Daqo New Energy for 2019.

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