Polysilicon Market

Polysilicon Market

Growth Factors of Polysilicon Market

The polysilicon market size was valued at 757.4 tons in 2023, and the market is now projected to grow from 865.5 tons in 2024 to 2582.0 tons by 2032, exhibiting a CAGR of 14.5% during the forecast period of 2024-2032.

The regional lockdown limitations enforced during the COVID-19 pandemic interrupted supply chains, badly affecting numerous end-use industries. The scarcity of raw material supplies had a major impact on the semiconductor manufacturing volume, resultant in a lack of silicon chips. The solar power market has revealed a rising trend during the pandemic, due to the growing implementation of solar power.

Digitalization presents huge development prospects for evolving economies to enhance development rate and be part of the global economy. Digitalization brings individuals closer, allows improved use of resources, and quicken up improvement and economic growing. To tap the potential benefits of digitalization, governments and international organizations are boosting and severely financing in digitalization. Digitalization helps with services accessible to people electronically by improving online infrastructure and growing internet connectivity or making the country digitally permitted in the field of technology.

Polysilicon exists in an extremely pure method. Being dense, effectual and having low capacitance, it is an exceptional material for semiconductors. It is comparatively easy to deposit in a huge area. There are minimum energy losses during charging and electricity and signal transfer. It delivers greater properties, such as high thermal conductivity, large critical fields, and high power potential. Polysilicon semiconductor devices compromise high power density and swapping frequencies and permit transistors to operate at high voltage levels. Due to all these superior properties, these semiconductors are being widely used in different electronic components in several end-use industries, driving polysilicon market growth.

Comprehensive Analysis of Polysilicon Market

The market can be segmented in various ways, depending on the focus of analysis such as by application. Based on application, the market is segmented as solar photovoltaics and electronics.

North America region is dominating the polysilicon market share due to its well-established silicon segment and the accessibility of low-cost labor and coal. Polycrystalline silicon is a main constituent in the manufacture of solar photovoltaic modules and is projected to witness a surge in demand, motivating the market extension.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Daqo New Energy Corp. (China), GCL Technology Holdings Co., Ltd. (China), Hemlock Semiconductor Corporation (U.S.), Mitsubishi Materials Corporation (Japan), OCI Company Limited (South Korea), Qatar Solar Technologies (Qatar), REC Silicon ASA (Norway), Tokuyama Corporation (Japan), Wacker Chemie AG (Germany), Xinte Energy Co., Ltd. (China) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In February 2021, GCL Technology Holdings Limited finalized deals with Tianjin Zhonghuan Semiconductor and LONGi Green Energy Technology. As a part of the deal, GCL will supply its polysilicon to both Chinese firms on an enduring basis.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 14.5% from 2024 to 2032

Unit Volume (Tons)

Segmentation By Application

Solar Photovoltaics

Electronics

By Region

North America (By Application; By Country)

U.S. (By Application)

Canada (By Application)

Europe (By Application; By Country)

Germany (By Application)

Italy (By Application)

France (By Application)

U.K. (By Application)

Rest of Europe (By Application)

Asia Pacific (By Application; By Country)

China (By Application)

Southeast Asia (By Application)

Japan (By Application)

India (By Application)

Rest of Asia Pacific (By Application)

Rest of the World (By Application; By Sub-Region)

Latin America (By Application)

Middle East (By Application)

Africa (By Application)


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