An Incisive, In-depth Analysis on the Polysilicon Market
This study offers a comprehensive, 360 degree analysis on the Polysilicon market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Polysilicon market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Polysilicon, also known as polycrystalline silicon, is a highly purified form of silicon. Polysilicon possesses semiconductor properties and attributing to this, it is prevalently used in the solar panels as well as in electronics industry. Polysilicon is manufactured through three main commercial processes, namely the Siemens process, FBR process and upgraded metallurgical grade process. The polysilicon obtained from the Siemens process is in the form of rods, while the one obtained from the FBR technology is in a granular form and more efficient. Applications of polysilicon are based on its purity. For instance, 9N pure polysilicon is used in solar applications and 11N pure polysilicon is used in semiconductor applications. Generally, polysilicon is of two grades, namely solar and electronics. Solar grade polysilicon is used in photovoltaic cell manufacturing, whereas electronics grade polysilicon is used in the manufacturing of integrated circuits, power conversion devices, optics and micro-electromechanical systems (MEMS), among others products.
The global polysilicon market is estimated to be valued at US$ 7.1 Bn by 2018 end and is expected to reach US$ 11.8 Bn by the end of 2028, expanding at a CAGR of 5.2% over the forecast period. The global polysilicon market is anticipated to represent an incremental opportunity of US$ 4.7 Bn between 2018 and 2028.
Solar grade polysilicon segment is expected to grow at a decent pace in terms of volume – value during the forecast period
Solar energy is a low cost energy source and owing to this, governments of several countries and the industry sector are emphasizing on the expansion of their solar energy capacities. In 2017, the solar industry witnessed a positive start for power generation and increased its installed capacity to 291.9 GW. Moreover, in 2017, China alone accounted for more than 30 GW and Europe crossed the 100 GW mark for installed solar PV capacity. In terms of solar installation, the global solar PV market is expected to witness 1.5X growth during 2017 – 2020. Thus, this rapid growth in solar PV installations in urban as well as semi-urban areas across the globe is expected to significantly contribute to the overall growth of the polysilicon market. Along with this, manufacturers of solar PV modules are focusing on technological advancements in order to gain a high conversation rate and high efficiency in solar cells. Mono-based solar PV installations across the globe are expected to register a relatively high growth rate as compared to multi-based polysilicon solar PV installations, owing to their high efficiency, which in turn is expected to boost the demand for the solar grade polysilicon market. However, the antidumping and countervailing duties imposed by China and the U.S. governments on polysilicon and solar panels have hampered the growth of the polysilicon market. Despite this, the government of China is enormously investing in the development of the solar industry, which in turn is expected to drive the China polysilicon market and provide impetus for the growth of domestic polysilicon manufacturers.
China dominates the polysilicon market and India is tipped to be a high growth market by the end of the forecast period
From a regional perspective, the polysilicon market is dominated by China in terms of production and consumption. It is expected that the polysilicon market in China is projected to witness relatively healthy growth over the forecast period. This can be mainly attributed to the rising government investments in the solar industry and significant growth of the electronics and semiconductor industry in China. Moreover, the India polysilicon market is estimated to register a double-digit CAGR over the forecast period. In terms of consumption, SEA and India, together, are estimated to hold over 27% of the polysilicon market in 2018. However, the detrimental impact of antidumping and countervailing duty on the North America polysilicon market will slow down the growth of the market during the initial forecast years.
Some of the players reported in this study on the global polysilicon market include Wacker Chemie AG, OCI Company Ltd., GCL-Poly Energy Holdings Limited., TBEA Co. Ltd, REC Silicon ASA., CSG Holdings Co., Ltd., Tokuyama Corporation, Daqo New Energy Co., Ltd., Mitsubishi Materials corporation, Hanwha Chemical Co., Ltd, Asia Silicon, Osaka Titanium Technologies Co., Ltd., Qatar Solar Technologies and Hemlock Semiconductor Corporation, among others. Moreover, polysilicon manufacturers have been channelizing efforts towards strengthening their production capacity volumes and focusing on specific regions for the same to cater to regional markets. This is expected to positively impact the polysilicon market in the near future.
Future Market Insights (FMI) analyzes the global polysilicon market in its new publication titled “Polysilicon Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018–2028”. This study provides exhaustive analysis and fetches key information on the target market on the basis of grade and region for the historical period 2013 – 2017 and forecast period 2017 – 2028. The main objective of the report is to ascertain dynamics in the polysilicon market and provide insights pertaining to the various segments of the global polysilicon market. To provide a better understanding and support stakeholders for decision making and market analysis, the report is incorporated with the analysis of drivers, restraints and trends that influence the current market scenario and are expected to impact the global polysilicon market over the forecast period.The study provides data for 2017 along with an inclusive market forecast for the period 2018 – 2028.
To understand and assess market opportunities and trends, the global polysilicon market report is categorically split into different sections based on grade and regions. The report starts with the market overview and provides market definition and taxonomy along with value chain, drivers, supply demand scenario & pricing analysis pertaining to the market. The sections that follow include global polysilicon market analysis – by grade and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the global polysilicon market. To give a brief idea about revenue opportunities from the end-use, delivery form and region/country-wise segments, the report also provides market value (US$ Mn) data, growth rates, market shares and total incremental $ opportunity indices for each segment over the forecast period (2018-2028).
In the final section of the report, we have provided a detailed competition landscape with company market share and performance in order to provide report audiences with a dashboard view of key players operating in the global polysilicon market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
For market data analysis, we have considered 2017 as the base year with market numbers estimated for 2018 and forecasts made for 2018–2028. For the assessment of market size, global demand for polysilicon is evaluated and funnel down to different grades ate region/country level. FMI assessment is based on a multipronged approach comprising primary research, secondary research and triangulation of data obtained therefrom. In secondary research, data available in public domain such as industry association, company annual reports, white papers, publications, journals and government sites, among others sources will be collected and accordingly, set of data points will be built. For the same, a top-down approach has been used to assess market numbers for each grade and bottom-up approach has been used to counter validate the market estimation. For forecast assessment, forecast growths for end use industries such as solar, electronics and semiconductor, among others and other related factors affecting polysilicon consumption in particular polysilicon grade along with insights provided by industry participants are weighed in so as to develop a pertinent forecast for individual grades. The forecast presented in the report evaluates the actual market size (US$ Mn) in 2017 with regard to polysiliconand the expected market value in the global polysilicon marketover the forecast period.
We have also analyzed the different segments of the global polysilicon marketin terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying various key trends governing the global polysilicon market. The report also analyses the global polysilicon marketbased on the incremental $ opportunity & the global absolute $ opportunity. This is usually overlooked while estimating the market forecast. However, from a business development perspective, it is essential to identify that market attractiveness in terms of three indices, viz. market share index, CAGR index and incremental $ opportunity index, is essential to identify the high potential resources in the polysilicon market. Moreover, the market attractiveness index to understand the key segments in terms of their performance and growth in the global Polysilicon market. This market attractiveness index would help clients identify real market opportunities in the global polysilicon market.