Global Monocrystalline Silicon Market to Reach US$12.1 Billion by 2030
The global market for Monocrystalline Silicon estimated at US$7.3 Billion in the year 2023, is expected to reach US$12.1 Billion by 2030, growing at a CAGR of 7.6% over the analysis period 2023-2030. Photovoltaics Application, one of the segments analyzed in the report, is expected to record a 7.9% CAGR and reach US$7.9 Billion by the end of the analysis period. Growth in the Electronics Application segment is estimated at 7.0% CAGR over the analysis period.
The U.S. Market is Estimated at US$2.0 Billion While China is Forecast to Grow at 7.2% CAGR
The Monocrystalline Silicon market in the U.S. is estimated at US$2.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.1% and 6.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.2% CAGR.
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