USD 8.87 billion
Report ID: SQSG15E2038 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: 63 | Figures: 73
Global Polysilicon Market size was valued at USD 8.87 billion in 2021 and is poised to grow from USD 10.04 billion in 2022 to USD 30.65 billion by 2030, growing at a CAGR of 13.2% in the forecast period (2023-2030).
Polysilicon, also known as polycrystalline silicon, is a very pure type of silicon and a crucial component of the electronics and photovoltaic (PV) industries. It is frequently employed in the production of solar power generation systems, high-efficiency modules, ingots, wafers, and cells.
Currently, 52 percent of the world's silicon market is attributed to the sales of polysilicon. More solar photovoltaic (PV) installations worldwide are anticipated to significantly increase demand for polycrystalline silicon materials. The demand for solar grade polysilicon products is anticipated to significantly increase as solar energy generation is increasing in popularity, over the forecast period. Sales of materials with an electronics grade will also likely increase due to the increasing demand for semiconductors and electronics.
US Polysilicon Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.87 billion
Solar Photovoltaics (PV) (Monocrystalline Solar Panel and Multicrystalline Solar Panel)
Solar Photovoltaics (PV) (Monocrystalline Solar Panel and Multicrystalline Solar Panel)
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The Global Polysilicon Market is segmented based on manufacturing technology, application, and region. Based on the manufacturing technology, it is categorized into Siemens Process, Upgraded Metallurgical Grade (UMG) Process and Fluidized Bed Reactor (FBR) Process. Based on the application, it is categorized into Solar Photovoltaic (PV), and Electronics. The Solar Photovoltaic (PV) sub-segment is further categorized into Monocrystalline Solar Panel and Multicrystalline Solar Panel. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Polysilicon Market Analysis by Application
On the basis of application, the solar photovoltaics (PV) segment currently dominates the global polysilicon market, in terms of both market value and market share. This market's expansion is primarily driven to the rising global demand for solar PV installations, which in turn promotes polysilicon consumption. Solar PV panels and semiconductors are both made largely of polysilicon. Due to forthcoming sustainable energy initiatives in various nations, the photovoltaic sector is expected to undergo exponential expansion. Additionally, it is predicted that the solar photovoltaics (PV) segment will have the greatest CAGR, during the forecast period.
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Based on the region, the Asia Pacific region currently dominates the global polysilicon market with respect to market share and it is predicted to have the highest share over the forecast period. This is a result of China and India's rising demand for consumer electronics and semiconductors. Nearly 35% of the worldwide solar market in 2021 was accounted for by the Chinese market. Installed capacity increased significantly in nations like Vietnam, India, and Japan. China's solar photovoltaic (PV) power generation has advanced exceptionally quickly over the past five years, and the nation now leads the globe in both installed capacity and solar power generation. The Asia Pacific polysilicon market is also expected to expand due to rising communication device demand.
Government investments in solar energy generation are likely to increase demand for polysilicon in North America and Europe, as it is used in the fabrication of semiconductors for solar PVC. The measures the government has taken to decrease its carbon footprint are linked to the expansion of the solar photovoltaics market in Latin America, which in turn has fueled the rise of the polysilicon business. Due to the ongoing development of technology and the growing consumer demand for electronics, the Middle East and Africa is also predicted to experience market expansion.
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Polysilicon Market Drivers
Polysilicon Market Restraints
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Companies in the sector have had to deal with obstacles such as factory closures, anti-dumping laws, and oversupply. However, the polysilicon market is anticipated to have a more balanced supply and demand environment, price stability, and profitability over the projection period. Additionally, businesses have embraced forward integration tactics and entered the semiconductor and photovoltaic industries. In order to enhance their presence on the worldwide market, various companies are also concentrating on implementing methods like partnerships and collaborations.
Polysilicon Market Top Players Company Profiles
Polysilicon Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global polysilicon market is currently led by countries in the Asia Pacific region, rising demand for consumer electronics and semiconductors in countries such as China and India. Along with this, the solar photovoltaic (PV) segment is currently dominating the global polysilicon market, and it is projected to maintain its dominance over the forecast period, due to the rising global demand for solar PV installations, which is predicted to support the growth of the global polysilicon market.
|Market size value in 2021||USD 8.87 billion|
|Market size value in 2030||USD 10.04 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Polysilicon Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Polysilicon Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Polysilicon Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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