New York, NY 3 July 2019: The global Polysilicon Market is projected to exceed USD 13.24 Billion by 2026 according to a new report published by Polaris Market Research. Polysilicon is a high purity silicon grade and a major raw material for the electronics and photovoltaics (PV) industry. Silicon has abundant availability from which polysilicon is manufactured via three commercial processes. Its demand is primarily driven by electronics and semiconductor components manufacturing. Poly-Si is also used in the production of PV wafers, which is another very strong growth factor for its global market.
The global solar installations in 2017 surpassed 100 GW for the first time ever. This phenomenon has raised the polysilicon and wafer manufacturing ranking. Though the solar installation has grown globally on account of higher demand for the renewable energy, the polysilicon market witnessed over supply in 2017. This weak demand came through China due to the feed-in tariff deadline and lack of transmission line in West China from the sunnier regions.
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Global population has actively adopted solar energy in different end-use sectors for different applications This has resulted in increased consumption of polysilicon in the photovoltaics industry. Improvement in several emerging countries of the world and rising middle-class have been major parameters for the growth of these end-use sectors. The demand for consumer electronics has also grown rapidly due to such economic and social factors.
Polysilicon is extensively used in electrical & electronics industry for the production of electrical components such as integrated circuits, which is an essential component in many electronics assemblies. Increased consumer demand for smartphones, personal computers, and data storage devices has resulted in increased demand of polysilicon in the electrical & electronics industry globally.
China is a major consumer and also the largest PV module-manufacturing base, which also makes it the largest consumer of polysilicon globally. However, the country has witnessed challenges in poly-Si market on account of deadline for Feed in tariff (FIT) and the ongoing trade disputes between China and the United States. The situation in China has also led to severe financial distress in U.S. as the later has lost access to China’s PV manufacturing industry.
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Asia Pacific is anticipated to be the largest and fastest growing regional market for polysilicon due to the industrial growth of its countries, especially the emerging nations. China, India, South Korea, Japan, and few Southeast Asian countries have significantly contributed to the region’s growth.
The global polysilicon market comprises of large multinational and domestic companies. The industry is moderately consolidated and highly competitive. Some of the major polysilicon market players include REC Silicon, Wacker Chemie, LDK Solar Company Ltd., Tokuyama Corporation, CSG Holdings Co., Ltd., Mitsubishi Materials Corporation, and GCL-Poly Energy Holdings Ltd.
• Polysilicon Market Size and Forecast, By Application
Monocrystalline Solar Panel
Multicrystalline Solar Panel
• Polysilicon Market Size and Forecast by Regions
o North America
o Asia Pacific
o Latin America
o Middle East & Africa
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