POLYSILICON MARKET ANALYSIS • The market is classified into three segments based on forms: wafers, granules, and rods. And on the basis of the end use, it is classified into two types: solar panel and electronic type polysilicon.
New York, Nov. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Polysilicon Market – Global Outlook & Forecast 2022-2027” – https://www.reportlinker.com/p06364039/?utm_source =GNW
The US is the most important contributor to the North American polysilicon market, accounting for 89.21% of the share. The US, a major solar energy and electric appliance manufacturer, has a high demand for polysilicon in solar PV and semiconductor manufacturing due to its well-developed infrastructure, increased investment in R&D, and global economic dominance.
• Polysilicon or polycrystalline silicon is a high-purity form of silicon composed of many small crystals or crystallites. It is a key raw material used to make solar modules and semiconductor chips. It is used as a semimetal layer to transfer signals in electronic devices and has similar properties as single-crystal silicon. It is a key raw material used to make solar modules and semiconductor chips. It is used for a wide range of applications in these end uses.
• Due to the increase in pollution, it is observed that there is a growth in the adoption of renewable energy production. So there is a high growth in the solar PV industry while the solar energy market is growing, resulting in a high demand for polysilicon in the global polysilicon market. The further development of the semiconductor industry has greatly affected the increase in demand for polysilicon because it is widely used in the production of semiconductor chips. Various governments have imposed anti-dumping policies on polycrystalline silicon, which can be a restraining factor for the industry.
• Advances in production technology can be a great growth opportunity for manufacturers. The development of renewable energy sources is expected to increase the share of the industry during the forecast period as it will increase the production of solar cells. In addition, the Asia Pacific region currently holds the largest share of the global polysilicon market, with 37.25%. The wide scale of the industry, developing economies, and high adoption of renewable energy are the main reasons for the high share of the polysilicon industry.
POLYSILICON MARKET TRENDS & OPPORTUNITIES
Focus on Renewable Energy Sources
The world economy is focused on generating energy from renewable sources. Due to environmental and climate changes, there is a shift from carbon-based petroleum derivatives to cleaner alternative energy sources. Renewable energy sources, such as solar, wind, and hydroelectric energy, currently generate about a quarter of the electricity provided by the power sector. The focus on renewable energy is an excellent opportunity for the growth of the polysilicon market. The global renewable energy generation industry has grown over the past decade, and electric-generation capacity has grown nearly 8.0% per year, according to the IEA. This is due to the government’s strategies and aggressive clean energy goals reported previously and at the 2021 Climate Change Conference (COP26). Low GHG emissions, low air pollution, low operating costs, and system stability will lead to sustainable development of the energy industry.
High Growth in the Solar PV Industry
The world economy is focused on generating energy from renewable sources. Due to environmental and climate changes, there is a shift from carbon-based petroleum derivatives to cleaner alternative energy sources. In the last few years, due to the growing population, economic development, and infrastructure development. In addition, the increase in pollution levels, the reduction in the price of solar technologies by more than 52% between 2010 and 2020, and the provision of the government that offers incentives and tax rebates for installation of solar panels has contributed to the increase in demand for solar panels, which is a major contributor to the global polysilicon market.
Anti-Dumping Policies Relating to the Polysilicon Market
Dumping is a terminology used in situations where the price of a commodity when sold in an importing country is lower than the price of the commodity in the market of the exporting country. Antidumping laws prevent products manufactured abroad from being sold by foreign companies in the country at less than fair value. There are four types of dumping in international trade: sporadic dumping, predatory dumping, continuous dumping, and reverse dumping. The world’s leading organizations, such as the World Trade Organization (WTO) and the European Union (EU), continue to take steps to prevent countries from dumping by imposing tariffs and taxes.
INSIGHTS THROUGH FORMS
Wafer form polysilicon is the largest segment of the global polysilicon market, with a market value of USD 5.67 in 2021. The global industry is classified based on form as wafers, granules, and rods. Wafers are used to make solar PV materials. This is because the wafers are usually p-type doped and act as an array of small circular cells, and n-type dopants are applied on top to form a pn junction just below the above. This pn junction is usually several hundred nanometers below the surface. Granular polysilicon is a medium-sized particle that usually has an irregular shape. Granular usually contains more hydrogen compared to rod polysilicon.
Segmentation by Forms
INSIGHTS THROUGH END USAGE
The solar segment is the largest end-use and fastest growing segment of the global polysilicon market and is estimated to grow at a CAGR of 7.25% during the forecast period. Polysilicon is commonly used to make solar panels. Solar panels are classified into two types based on monocrystalline and polycrystalline panels. The main difference between the two types of solar panels is the crystal purity of the panel cells. Monocrystalline solar panels consist of solar cells, which are manufactured using a single silicon crystal.
Segmentation by End Use
APAC holds the largest and fastest growing polysilicon market share throughout the forecast period. Major APAC countries, such as China, Japan, India, Vietnam, and South Korea, have high demand for polycrystalline silicon. Various factors, such as rapid urbanization, rising disposable income, and rapid industrialization, are fueling the growth of the automotive, power generation, and manufacturing industries. China is one of the largest industries for polycrystalline silicon in the world. China’s industrial and innovation policies focus on increasing solar panel production. In addition, Japan is one of the largest renewable energy industries in the world. The country has good long-term growth potential.
The North American region is the second largest polysilicon market, and is expected to grow at a substantial rate of 6.16% during the forecast period. The United States is the largest contributor to the industry, accounting for 89.21% of the North American industry. The solar energy industry has grown exponentially in the US with increasing demand for electricity. Likewise, the demand for polycrystalline silicon is expected to increase due to high demand for semiconductors used in various end-use segments such as computing, communication, consumer, industrial and automotive.
Segmentation by Geography
or South Korea
or The rest of APAC
• North America
or the Netherlands
or The rest of Europe
• Latin America
or Rest in LA
• Middle East & Africa
or Saudi Arabia
or South Africa
o The rest of the Middle East and Africa
The global polysilicon market is characterized by the presence of specific international and regional vendors; as international players increase their footprint in the industry, regional vendors will find it difficult to compete with them. However, some global industry players such as Tongwei Group Co., ltd (China), GCL Tech (China), Wacker Chemie AG (Germany), Hemlock Semiconductor LLC (US), OCI Company ltd (South Korea) , and many more. many more have developed a complete product portfolio for polycrystalline silicon.
Several players are expected to expand their presence globally during the forecast period, especially in the fast-developing countries of APAC, to capture a larger share of the industry. One of the prominent players, Daqo New Energy Corp, has started construction of its new plant in the APAC region. The plant is expected to produce about 35,000 tons of polysilicon per year and then gradually increase to 105,000 tons per year.
• GCL Technology
• Hemlock Semiconductor LLC
• OCI Company Limited
• Tongwei Group
• Wacker Chemie AG
Other Prominent Vendors
• AE Polysilicon
• Asia Silicon (Qinghai) Co., Ltd.
• Daqo New Energy Corp
• East Hope Group
• Mitsubishi Polycrystalline Silicon America Corporation
• REC Silicon ASA
• Tokuyama Corporation
• Shaanxi Non-ferrous Tian Hong REC Silicon Materials Co., Ltd
FREQUENTLY ASKED QUESTIONS ANSWERED
1. What will be the global polysilicon market revenue in 2021?
2. What is the projected global polysilicon market size in 2027?
3. What is the growth rate of polysilicon market?
4. Which region dominates the global Polysilicon Market?
5. What are the key factors driving the growth of the global Polysilicon Market?
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