Polysilicon Market
Market Insights on Polysilicon covering sales outlook, demand forecast & up-to-date key trends
Polysilicon Market By Grade (Solar Grade, Electronics Grade), & Region - Forecast 2022 - 2028
Polysilicon Market Outlook (2022-2028)
[171 pages Report] The global polysilicon market is expected to hold a valuation of US$ 8.5 Bn in 2022, and progress at a steady CAGR of 5.6% to attain an estimated net worth of US$ 11.8 Bn by 2028.
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Polysilicon Market Size (2022) |
US$ 8.5 Bn |
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Projected Market Value (2028) |
US$ 11.8 Bn |
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Global Market Growth Rate |
5.6% CAGR (2022-2028) |
|
Country With Dominant Market Share (2022) |
China – 61.7% |
Currently, worldwide polysilicon sales account for 52% share in the global silicon market. Demand for polycrystalline silicon products is expected to be majorly driven by increasing number of solar photovoltaic (PV) installations across the world.
As solar energy generation becomes more popular, demand for solar grade polysilicon products is also expected to see a major rise over the forecast period of 2022 to 2028. Rising demand for electronics and semiconductors is also set to propel sales of electronics grade polysilicon materials.
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How The Market Progressed Till June 2022?
|
Market Statistics |
Details |
|
H1,2021 (A) |
4.6% |
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H1,2022 Projected (P) |
4.9% |
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H1,2022 Outlook (O) |
4.8% |
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BPS Change : H1,2022 (O) - H1,2022 (P) |
(-) 10 ↓ |
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BPS Change : H1,2022 (O) - H1,2021 (A) |
(+) 20 ↑ |
A half-yearly comparison of the growth projections for the market of polysilicon along with the dynamics and key developments impacting the market trends has been presented by Future Market Insights.
The market of polysilicon has been predominantly influenced by several macro-economic, industrial and innovations factors, these factors are positively impacting the growth of the market. Currently the market is witnessing a trend of increase in the production capacities by the key manufacturers.
Polysilicon sales is expected to witness a growth rate of magnitude 4.8% over the first half of 2022 as compare to the growth rate of 4.6% in the first half of 2021, an increase of 20 bps.
This increase in the growth rate is owing to significant demand from certain end use sectors including growth in the solar cells installations and growing investment and incentives in solar PV installations along with growth in the semiconductor sales. However, the market is expected to witness a decline in the growth rate of 10 basis point shares as compare to the projected value.
This certain decline in the growth outlook is owing to a certain decrease in the installation of photovoltaic cells and supply constraints faced by the industry of semiconductors all over the globe. However, the market is anticipated to maintain its year over year growth during the forecast period owing to significant development in the end use industries.
Demand Analysis of Polysilicon (2013 to 2021) Vs Market Outlook (2022 to 2028)
Sustainability has been a prominent trend over the past few years, and it has picked up quite the pace in recent times and completely changed the course of many industry verticals. Polysilicon has gained impetus as its scope of application in solar panels and semiconductors and electronics has increased substantially.
The market for polycrystalline silicon experienced growth at a CAGR of 5.4% from 2013 to 2021.
Solar installations across the world are rising rapidly and are expected to surge over the coming years due to rapid urbanization and increasing adoption of renewable energy sources across multiple geographies.
Top polysilicon manufacturers in India are expected to see a significant rise in business potential as the production of polycrystalline silicon increases. Polysilicon production through the Siemens process is one of the most common methods used at production facilities globally.
Increasing use of consumer electronics and other electronic devices is propelling demand for electronics grade polysilicon materials from the semiconductor and electronics industry. This polysilicon research analysis studies polysilicon production by country, and finds that China leads production by a huge margin relative to other countries.
Demand for polysilicon is anticipated to rise at a healthy CAGR of 5.6% from 2022 to 2028.
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Talk to AnalystHow are Polysilicon Sales Expected to Fare across Various Regional Markets?
This polysilicon industry analysis studies regional market such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA), and gives detailed assessment specific to each region.
Collectively, East Asia, South Asia, and the Pacific regions are expected to account for more than 90% of the global polysilicon market share in 2022. Demand is expected to be extremely high from nations such as China and India. This can be attributed to rapid development of the Chinese solar industry and government backing for the industry.
In comparison, polysilicon consumption in North America is anticipated to only account for a mere share of 2.8% of the global market. The regional market is expected to show steady growth over the forecast period as solar installations increase and drive demand for polysilicon materials.
The European polysilicon market is also expected to rise on similar lines and have a very small market share of 2.1% in the year 2022.
The polysilicon industry in the MEA region is expected to hold a very small market share and is expected to see sluggish growth over the coming years. Demand for polysilicon is expected to pick up moderately as industrialization and urbanization in the region paces over the coming years.
Demand for polysilicon materials in Latin America is also expected to follow the same trends as the MEA region.
Country-wise Analysis
How Lucrative is India Set to Be for Polysilicon Manufacturers?
India provides a lucrative setting for polysilicon shipments and is expected to be one of the most prominent markets in the Asian region. The government plays a crucial role in promoting solar energy generation in India, and this is expected to drive demand for solar grade polysilicon products.
The Indian government has also green-flagged 100% foreign direct investment for renewable power generation, which is expected to attract investors from all over the world. Top polysilicon manufacturers from 2020 and 2021 have also been profiled in this polysilicon market survey.
What Makes China Such a Dominant Polysilicon Market?
China is expected to dominate the global polysilicon market like no other and is predicted to hold more than 3/5 of the global market share. This astonishingly high demand for polysilicon in China can be attributed to its position as one of the most important manufacturers of electronics and semiconductor devices and components.
Sales of polysilicon materials are expected to rise as government investments in the solar industry of China increase to make a major transformation towards renewable energy generation.
Polysilicon manufacturers in China are expected to have a bright business outlook over the forecast term as government funding increases in various electronics and semiconductor manufacturing projects and attracts more investors and investments in the regional marketplace.
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Category-wise Analysis
Which Polysilicon Grade Dominates the Marketplace?
Demand for solar polysilicon materials is dominating the global market and is expected to continue its dominance over the forecast period as well. This can be attributed to rising installation of solar energy generation units across the world citing global warming and climate change concerns.
As consumers grow more environment-conscious, demand for renewable and sustainable energy is growing globally.
Technological advancements and rise in the production of mono-silicon materials are majorly driving the revenue potential of polycrystalline silicon suppliers. Demand for electronics grade polysilicon materials is also expected to see a steady rise as technological proliferation increases across the world and digitization picks up pace.
COVID-19 Impact Analysis
The manufacturing sector for all industry verticals took a serious hit in 2020 as the world was faced with the COVID-19 pandemic. Coronavirus spread across the world and bought it to a standstill as lockdowns were imposed to contain the spread of the virus.
These restrictions made it impossible for manufacturing activities to be carried out since actual human presence was required for effective manufacturing.
Apart from this, the supply and demand chain also was disrupted to a major extent and made it hard for manufacturing activity to be carried out. All of these factors caused a negative impact on demand for polysilicon materials across the world.
This lowered the market share for polysilicon on a global level as demand for semiconductor electronic devices dropped during the pandemic. This trend is expected to change soon as the world returns to normalcy in the post-pandemic era and manufacturing activity returns to its full capacity.
Demand for semiconductors is expected to increase from the automotive sector substantially, and this is expected to propel the sales of polysilicon products across the globe.
Competitive Landscape
The polysilicon market is partially fragmented and offers fair opportunities to major players as well as new entrants in the industry, but high capital investment restrains new entrants in the market.
Polysilicon manufacturers are majorly focusing on bolstering their production capacity across multiple geographies to meet increasing demand from emerging economies with high manufacturing activity.
- In May 2021, REC Silicon ASA, Norway-based polysilicon and silicon gas supplier stated that it would be restarting its Lake Moses Plant in Washington in the year 2023. The comment came after the company reported its first-quarter (Q1) results. The plant was shut down in May 2019 over the imposition of Chinese tariffs on US-produced polysilicon.
In December 2021, Daqo New Energy Corp., a Chinese polysilicon manufacturer, started its pilot production at a new plant. The plant is expected to produce 35,000 tonnes of polysilicon per year initially and then gradually would ramp to 105,000 tonnes per year.
Polysilicon Industry Report Scope
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Attribute |
Details |
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Forecast Period |
2022-2028 |
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Historical Data Available for |
2013-2021 |
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Market Analysis |
US$ Mn for Value |
|
Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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|
Key Companies Profiled |
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Pricing |
Available upon Request |
Key Segments of Polysilicon Industry Survey
Polysilicon Market by Grade:
- Solar Grade Polysilicon
- Electronics Grade Polysilicon
Polysilicon Market by Region:
- North America Polysilicon Market
- Latin America Polysilicon Market
- Europe Polysilicon Market
- East Asia Polysilicon Market
- South Asia & Pacific Polysilicon Market
- Middle East & Africa (MEA) Polysilicon Market
Frequently Asked Questions
Major strategies such as acquisitions, mergers, and collaborations/joint-ventures are being adopted by prime market players to increase their production capacity and gain market share.
East Asia, South Asia, and the Pacific regions where polysilicon demand is high.
The global polysilicon market is predicted to rise at a steady CAGR of 5.6% from 2022 to 2028.
By 2028, polysilicon consumption is estimated to attain a market valuation of US$ 11.8 Bn.
As per these polysilicon market insights, the market is anticipated to be worth US$ 8.5 Bn in 2022.
Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendation
1.4. Wheel of Fortune
2. Market Introduction
2.1. Taxonomy
2.2. Market Definition
3. Market Viewpoint
4. Global Polysilicon Market Analysis 2013–2017 and Forecast 2022–2028
4.1. Global Polysilicon Market Forecast
4.2. Pricing Analysis
4.3. Global Polysilicon Market Analysis
5. Porters Analysis
6. Market Dynamics
6.1.1. Drivers
6.1.2. Restraints
6.1.3. Trends
7. Manufacturing Process Overview
7.1. Manufacturing Process
7.2. Cost Structure
8. Forecast Factors: Relevance and Impact
9. Global Polysilicon Market Analysis and Forecast, By Grade
9.1. Introduction
9.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Grade, 2013–2017
9.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Grade, 2022–2028
9.3.1. Solar Grade
9.3.2. Electronics Grade
10. Global Polysilicon Market Analysis and Forecast, By Region
10.1. Introduction
10.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Region, 2013–2017
10.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Region, 2022–2028
10.3.1. North America
10.3.2. Latin America
10.3.3. Europe
10.3.4. China
10.3.5. India
10.3.6. Japan
10.3.7. South East Asia Pacific
10.3.8. Middle East & Africa (MEA)
11. North America Polysilicon Market Analysis and Forecast
11.1. Introduction
11.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Market Segment, 2013–2021
11.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Market Segment, 2022–2028
11.3.1. By Country
11.3.1.1. U.S.
11.3.1.2. Canada
11.3.2. By Grade
12. Latin America Polysilicon Market Analysis and Forecast
12.1. Introduction
12.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Market Segment, 2013–2021
12.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Market Segment, 2022–2028
12.3.1. By Country
12.3.1.1. Brazil
12.3.1.2. Mexico
12.3.1.3. Rest of Latin America
12.3.2. By Grade
13. Europe Polysilicon Market Analysis and Forecast
13.1. Introduction
13.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Market Segment, 2013–2021
13.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Market Segment, 2022–2028
13.3.1. By Country
13.3.1.1. Germany
13.3.1.2. U.K.
13.3.1.3. Spain
13.3.1.4. France
13.3.1.5. Italy
13.3.1.6. Rest of Europe
13.3.2. By Grade
14. SEA Polysilicon Market Analysis and Forecast
14.1. Introduction
14.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Market Segment, 2013–2021
14.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Market Segment, 2022–2028
14.3.1. By Country
14.3.1.1. South Korea
14.3.1.2. Taiwan
14.3.1.3. ASEAN
14.3.1.4. Rest of SEA
14.3.2. By Grade
15. China Polysilicon Market Analysis and Forecast
15.1. Introduction
15.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Market Segment, 2013–2021
15.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Market Segment, 2022–2028
15.3.1. By Grade
16. Japan Polysilicon Market Analysis and Forecast
16.1. Introduction
16.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Market Segment, 2013–2021
16.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Market Segment, 2022–2028
16.3.1. By Grade
17. Japan Polysilicon Market Analysis and Forecast
17.1. Introduction
17.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Market Segment, 2013–2021
17.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Market Segment, 2022–2028
17.3.1. By Grade
18. MEA Polysilicon Market Analysis and Forecast
18.1. Introduction
18.2. Historical Market Size (US$ Mn) and Volume (Tons) Trend Analysis By Market Segment, 2013–2021
18.3. Current Market Size (US$ Mn) and Volume (Tons) Forecast By Market Segment, 2022–2028
18.3.1. By Country
18.3.1.1. The UAE
18.3.1.2. Qatar
18.3.1.3. Other GCC countries
18.3.1.4. South Africa
18.3.1.5. Rest of MEA
18.3.2. By Grade
19. Competition Landscape
19.1. Market Structure
19.2. Competition Dashboard
19.3. Company Profiles
19.3.1. Wacker Chemie AG
19.3.2. OCI Company Ltd.
19.3.3. GCL-Poly Energy Holdings Limited
19.3.4. TBEA Co. Ltd
19.3.5. REC Silicon ASA.
19.3.6. CSG Holdings Co., Ltd
19.3.7. Tokuyama Corporation
19.3.8. Daqo New Energy Co., Ltd.
19.3.9. Mitsubishi Materials corporation
19.3.10. Hanwha Chemical Co., Ltd
19.3.11. Asia Silicon
19.3.12. Osaka Titanium Technologies Co., Ltd.
19.3.13. Qatar Solar Technologies
19.3.14. Hemlock Semiconductor Corporation
20. Research Methodology
21. Assumption & Acronyms Used
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List of Tables
Table 01: Global Polysilicon Market Value (US$ Mn) and Volume (Tons) By Grade, 2012–2027
Table 02: Global Polysilicon Market Value (US$ Mn) and Volume (Tons) by Region, 2012–2027
Table 03: North America Polysilicon Derivatives (Polysilicon) Market Value (US$ Mn) and Volume (Tons) by Region, 2012–2027
Table 04: North America Polysilicon Market Value (US$ Mn) and Volume (Tons) by Grade, 2012–2027
Table 05: Latin America Polysilicon Market Size (US$ Mn) and Volume (KT) Forecast by Country, 2013 – 2028
Table 06: Latin America Polysilicon Market Size (US$ Mn) and Volume (Tons) Forecast by Grade, 2013 – 2028
Table 07: Europe Polysilicon Market Value (US$ Mn) and Volume (Tons) by Region, 2013 – 2028
Table 08: Europe Polysilicon Market Value (US$ Mn) and Volume (Tons) by Grade , 2013 – 2028
Table 09: SEA & Pacific Polysilicon Market Value (US$ Mn) and Volume (Tons) by Grade, 2013 – 2028
Table 10: SEA & Pacific Polysilicon Market Value (US$ Mn) and Volume (Tons) by Region, 2013 – 2028
Table 11: China Polysilicon Market Value (US$ Mn) and Volume (Tons) by Grade, 2013 – 2028
Table 12: India Polysilicon Market Value (US$ Mn) and Volume (Tons) by Grade, 2013 – 2028
Table 13: Japan Polysilicon Market Value (US$ Mn) and Volume (Tons) by Grade, 2013 – 2028
Table 14: Middle East & Africa Polysilicon Market Size (US$ Mn) and Volume (KT) Forecast by Country, 2013 – 2028
Table 15: MEA Polysilicon Market Size (US$ Mn) and Volume (Kilo Tons) Forecast by Grade, 2013 – 2028
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Talk to AnalystList of Charts
Figure 01: Prominent 10 Countries of Chemical Sales (2016), By Value
Figure 02: Global Chemical Sales Share (2016), By Region
Figure 03: Electrical and Electronics Industry Market Analysis
Figure 04: Electrical and Electronics Industry Market Share by Region, 2021
Figure 05: Semiconductor Industry Market Analysis
Figure 06: Semiconductor Industry Market Share by Region, 2021
Figure 07: Solar PV Installed Capacity (GW)
Figure 08: Cell Efficiency - Mono and Multi Type Polysilicon
Figure 09: Share (%) - Mono and Multi Polysilicon
Figure 10: Global Polysilicon Market Value (US$ Mn) and Volume (Tons) Historical Data and Forecast 2013-2028
Figure 11: Global Polysilicon Market Absolute $ Opportunity Analysis, 2013–2028
Figure 12: Polysilicon Market – Porter’s Analysis
Figure 13: Polysilicon Manufacturing by Siemens Process
Figure 14: Polysilicon Manufacturing by FBR Process
Figure 15: Polysilicon Manufacturing by Upgraded Metallurgical Grade Process
Figure 16: Production Cost Analysis
Figure 17: Cost Structure - Polysilicon (U.S.)
Figure 18: Cost Structure – Polysilicon (India)
Figure 19: Cost Structure - Polysilicon (MEA)
Figure 20: Cost Structure – Polysilicon (China)
Figure 21: Global Polysilicon Market Share and BPS Analysis By Grade, 2013, 2022 & 2028
Figure 22: Global Polysilicon Market Attractiveness Analysis, By Grade, 2022–2028
Figure 23: Global Polysilicon Market Absolute $ Opportunity by Solar grade Segment, 2021 – 2028
Figure 24: Global Polysilicon Market Absolute $ Opportunity by Electronics grade Segment, 2021 – 2028
Figure 25: Global Polysilicon Market Share and BPS Analysis by Region, 2013, 2022 & 2028
Figure 26: Global Polysilicon Market Attractiveness Analysis, by Region, 2022–2028
Figure 27: Global Polysilicon Market Absolute $ Opportunity (US$ Mn), 2022 – 2028 by Region
Figure 28: North America Polysilicon Market Share and BPS Analysis by Country, 2013, 2022 & 2028
Figure 29: North America Polysilicon Market Attractiveness Analysis, by Country, 2022–2028
Figure 30: North America Market Absolute $ Opportunity (US$ Mn), 2021 – 2028 by Country
Figure 31: North America Polysilicon Market Share and BPS Analysis by Grade, 2013, 2022 & 2028
Figure 32: North America Polysilicon Market Attractiveness Analysis, by Grade, 2022–2028
Figure 33: Latin America Polysilicon Market Share and BPS Analysis by Country – 2013, 2022 & 2028
Figure 34: Latin America Polysilicon Market attractive analysis Projections by Country, 2022 – 2028
Figure 35: Latin America Polysilicon Market Absolute $ Opportunity (US$ Mn), 2022 – 2028 by Country
Figure 36: Latin America Polysilicon Market Share and BPS Analysis by Grade – 2013, 2022 & 2028
Figure 37: Latin America Polysilicon Market attractive analysis by Grade, 2022 – 2028
Figure 38: Europe Polysilicon Market Share and BPS Analysis by Region– 2013, 2022 & 2028
Figure 39: Europe Polysilicon Market Attractiveness Analysis by Region, 2022 – 2028
Figure 40: Europe Polysilicon Market Absolute $ Opportunity (US$ Mn), 2022 – 2028 by Country
Figure 41: Europe Polysilicon Market Share and BPS Analysis by Grade – 2013, 2022 & 2028
Figure 42: Europe Polysilicon Market Attractiveness Analysis by Grade , 2022 – 2028
Figure 43: SEA & Pacific Polysilicon Market Share and BPS Analysis by Grade– 2013, 2022 & 2028
Figure 44: SEA & Pacific Polysilicon Market Attractiveness Analysis by Grade, 2022 – 2028
Figure 45: SEA & Pacific Polysilicon Market Share and BPS Analysis by Country– 2013, 2022 & 2028
Figure 46: SEA & Pacific Polysilicon Market Attractiveness Analysis by Country, 2022 – 2028
Figure 47: SEA Market Absolute $ Opportunity (US$ Mn), 2021 – 2028 by Country
Figure 48: China Polysilicon Market Share and BPS Analysis by Grade– 2013, 2022 & 2028
Figure 49: China Polysilicon Market Attractiveness Analysis by Grade, 2022 – 2028
Figure 50: India Polysilicon Market Share and BPS Analysis by Grade– 2013, 2022 & 2028
Figure 51: India Polysilicon Market Attractiveness Analysis by Grade, 2022 – 2028
Figure 52: Japan Polysilicon Market Share and BPS Analysis by Grade – 2013, 2022 & 2028
Figure 53: Japan Polysilicon Market Attractiveness Analysis by Grade, 2022 – 2028
Figure 54: Middle East & Africa Polysilicon Market Share and BPS Analysis by Country – 2013, 2022 & 2028
Figure 55: Middle East & Africa Polysilicon Market attractive analysis Projections by Country, 2022 – 2028
Figure 56: MEA Polysilicon Market Absolute $ Opportunity (US$ Mn), 2022 – 2028 by Country
Figure 57: MEA Polysilicon Market Share and BPS Analysis by Grade – 2013, 2022 & 2028
Figure 58: MEA Polysilicon Market Attractive Analysis by Grade, 2022 – 2028
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