Polysilicon Market - Forecast(2023 - 2028)

Polysilicon Market Overview:

According to International Trade Centre’s Trade Map, products worth $4,839,958 million which contained more than 99.99% silicon by the constitution were imported by several countries around the world.^[1] These products also included polysilicon which is a high purity form of silicon that contains multiple crystals. A chemical process called Siemens process is used by industries around the world to produce this chemical compound. By application, the market can be fragmented into the manufacturing process, semiconductor, solar, semiconductor grade, and others. In the current times, with renewable energy sources being solicited as primary providers of electricity, single-celled solar cells have been replaced with polysilicon solar cells for their increased efficiency. This chemical is credited with improving the performance of machinery on a noticeable scale. The solar segment of the market, therefore, has the most potential and with expanding with a healthy compound annual growth rate (CAGR) of 9% through to 2025.

In the upcoming years, polysilicon will be extensively used in the production of semiconductors and solar cells which form the most important components of any electronic device. Hence, the polysilicon market will experience prolific growth with a CAGR of 9% during the forecast period of 2019-2025. Needless to say, the demand for electronic devices has already helped the polysilicon market in gaining momentum and earning a noticeable revenue of $7 billion in 2018.

Polysilicon Market Growth Drivers:

Ø  Increasing Use Of Electronic Devices

With expanding urbanization, general population’s acquaintance with electronics has become a common phenomenon. Electronic devices have become an inevitable part of human life, and they will continue to be that way. These devices including the popular ones such as mobile phones and television sets will be redundant without semiconductors. Polysilicon is extensively used in the production of semiconductors and without this compound, the production of semi-conductors will more or less cease to exist. This has driven the growth of the market in the past decade and will be a defining factor during the forecast period.

Polysilicon Market Key Players Perspective:

The manufacturing of electronics is thriving in China and Japan with the former’s economic growth completely dependent on production, import, and export of electronics throughout the world. China is also rich in silicon, exporting around two-thirds of the world’s silicon supply, thus making APAC region the geographical leader of the polysilicon market. In the year 2018, APAC held a regional share of 30%.

Some of the key market players consistently working towards devising better techniques for polysilicon production are JFE Holdings, Inc., Elkem Holding Inc., Nitol Solar Limited, Renewable Energy Corporation, SunEdison Inc., GCL-Poly Energy Holdings Limited, REC Silicon ASA, Tokuyama Corporation, Wacker Chemie AG, OCI Company Limited, and Daqo New Energy Corp.

Nitol Solar Corporation has actively participated in delivering polysilicon in high volumes to solar energy production companies in the world including Trina Solar.

Polysilicon Market Trends:

Polysilicon’s production has often been criticized for high energy consumption and polluting the environment. Researchers around the world have faced constant pressure for innovating environment-friendly method of polysilicon because of these issues. This innovation is also being driven due to the high demand of polysilicon that is being generated from the electronics industry.

China-based Enfi’s China Silicon Corp, popularly known as SinoSico spent several years of research and development on production of polysilicon and installed their own production line using environment-friendly technologies of their own. This helped in production of 300 metric tons of polysilicon in a single year, a disruptive statistic that China hadn’t experienced before. Other companies are expected to follow suit and innovate a better method for production in accordance with environment conservation.

Polysilicon Market Research Scope

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Polysilicon Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of segments in the polysilicon market, and their specific applications in different areas.

Polysilicon Market Report: Industry Coverage

The polysilicon market can be segmented on the basis of technology, application, techniques, products, and functional area. Based on technology, the market can be divided into fluidized bed reactor technology, crystallization technology, Siemens technology, cutting edge technology, advanced solar farm system, extrinsic gettering technology, polishing technology, and others. By application, the market can be fragmented into manufacturing process, semiconductor, solar, seminconductor grade, and others. By techniques, the market can be divided into solar grade polysilicon, electronic grade polysilicon, Bridgman Stockbarger technique, and others. On the basis of products, the market can be divided into chips, chunks, cut rod, liquid chlorosilane, ISO container, drums, and others. And by functional area, the market can be bifurcated into Solar PV, electronics, and others.

The Polysilicon Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

•           North America: The U.S., Canada, Mexico

•           South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•           Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

•           APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•           Middle East and Africa: Israel, South Africa, Saudi Arabia