Europe Polysilicon Market Size, Share & Trends Analysis Report By Application (Solar PV (Multicrystalline Solar Panel, and Monocrystalline Solar Panel), and Electronics (Semiconductor), By Country and Growth Forecast, 2023 - 2030
The Europe Polysilicon Market would witness market growth of 12.5% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 107.9 Kilo Tonnes, showcasing a growth of 10.8% (2019-2022).
Polysilicon is a primary raw material used in producing silicon wafers, which are the building blocks of semiconductors. Consumer electronics such as smartphones, laptops, and other electronic devices rely heavily on semiconductors. The demand for semiconductors is propelled by the proliferation of consumer electronics, including smartphones, tablets, notebooks, and smart appliances. It, is a key material in semiconductor manufacturing, experiences increased demand as the electronics industry expands.
Moreover, the deployment and expansion of 5G technology requires advanced semiconductor components. The higher data speeds and increased connectivity associated with 5G networks demand semiconductors with enhanced performance, leading to a higher demand for polysilicon. The growth of the Internet of Things, where various devices are interconnected, relies on semiconductors. The automotive industry increasingly relies on electronic components for various applications, including advanced driver assistance systems (ADAS), infotainment systems, and electric vehicle components. This trend boosts the demand for semiconductors and, consequently, polysilicon.
As per the data from Eurostat, the EU reached a 23.0 % share of its gross final energy consumption from renewable sources in 2022, around 1.1 percentage points (pp) higher than in 2021. EU Directive 2023/2413 on the promotion of energy from renewable sources has revised upwards the EU’s 2030 renewable energy target from 32% to 42.5% (with an aim to increase it to 45%). Therefore, EU countries need to intensify their efforts to collectively comply with the new EU target for 2030, which requires increasing the share of renewable energy sources in the EU’s gross final energy consumption by almost 20 pp. Thus, Europe's rising renewable energy sector will boost the demand for polysilicon in the region.
The Germany market dominated the Europe Polysilicon Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,476.6 Million by 2030. The UK market is exhibiting a CAGR of 11.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 13.4% during (2023 - 2030).
Based on Application, the market is segmented into Solar PV (Multicrystalline Solar Panel, and Monocrystalline Solar Panel), and Electronics (Semiconductor). Based on countries, the market is segmented into Germany, UK, France, Russia Netherlands, Italy, and Rest of Europe.
List of Key Companies Profiled
- OCI Company Ltd.
- Tokuyama Corporation
- Wacker Chemie AG
- REC Silicon ASA
- GCL Technology Holdings Limited (Golden Concord Holding Limited)
- Hemlock Semiconductor Operations LLC and Hemlock Semiconductor, L.L.C.
- DAQO NEW ENERGY CORP.
- Xinte Energy Co., Ltd (TEBA Co., Ltd.)
- High-Purity Silicon America Corporation (SUMCO Corporation)
- Mitsubishi Materials Corporation
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
- Solar PV
- Multicrystalline Solar Panel
- Monocrystalline Solar Panel
- Electronics (Semiconductor)
- Germany
- UK
- France
- Russia
- Netherlands
- Italy
- Rest of Europe
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Europe Polysilicon Market, by Application
- 1.4.2 Europe Polysilicon Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter’s Five Forces Analysis
- Chapter 4. Strategies Deployed in Polysilicon Market
- Chapter 5. Europe Polysilicon Market, By Application
- 5.1 Europe Solar PV Market, By Country
- 5.2 Europe Polysilicon Market, By Solar PV Type
- 5.2.1 Europe Multicrystalline Solar Panel Market, By Country
- 5.2.2 Europe Monocrystalline Solar Panel Market, By Country
- 5.3 Europe Electronics (Semiconductor) Market, By Country
- Chapter 6. Europe Polysilicon Market, By Country
- 6.1 Germany Polysilicon Market
- 6.1.1 Germany Polysilicon Market, By Application
- 6.1.1.1 Germany Polysilicon Market, By Solar PV Type
- 6.2 UK Polysilicon Market
- 6.2.1 UK Polysilicon Market, By Application
- 6.2.1.1 UK Polysilicon Market, By Solar PV Type
- 6.3 France Polysilicon Market
- 6.3.1 France Polysilicon Market, By Application
- 6.3.1.1 France Polysilicon Market, By Solar PV Type
- 6.4 Russia Polysilicon Market
- 6.4.1 Russia Polysilicon Market, By Application
- 6.4.1.1 Russia Polysilicon Market, By Solar PV Type
- 6.5 Netherlands Polysilicon Market
- 6.5.1 Netherlands Polysilicon Market, By Application
- 6.5.1.1 Netherlands Polysilicon Market, By Solar PV Type
- 6.6 Italy Polysilicon Market
- 6.6.1 Italy Polysilicon Market, By Application
- 6.6.1.1 Italy Polysilicon Market, By Solar PV Type
- 6.7 Rest of Europe Polysilicon Market
- 6.7.1 Rest of Europe Polysilicon Market, By Application
- 6.7.1.1 Rest of Europe Polysilicon Market, By Solar PV Type
- Chapter 7. Company Profiles
- 7.1 OCI Company Ltd.
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Segmental and Regional Analysis
- 7.1.4 Research & Development Expenses
- 7.1.5 Recent strategies and developments:
- 7.1.5.1 Partnerships, Collaborations, and Agreements:
- 7.1.5.2 Geographical Expansions:
- 7.1.6 SWOT Analysis
- 7.2 Tokuyama Corporation
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expenses
- 7.2.5 Recent strategies and developments:
- 7.2.5.1 Partnerships, Collaborations, and Agreements:
- 7.2.6 SWOT Analysis
- 7.3 Wacker Chemie AG
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental and Regional Analysis
- 7.3.4 Research & Development Expenses
- 7.3.5 Recent strategies and developments:
- 7.3.5.1 Geographical Expansions:
- 7.3.6 SWOT Analysis
- 7.4 REC Silicon ASA
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Segmental Analysis
- 7.4.4 Recent strategies and developments:
- 7.4.4.1 Partnerships, Collaborations, and Agreements:
- 7.4.5 SWOT Analysis
- 7.5 GCL Technology Holdings Limited (Golden Concord Holding Limited)
- 7.5.1 Company Overview
- 7.5.2 Financial Analysis
- 7.5.3 Segmental and Regional Analysis
- 7.5.4 Research & Development Expenses
- 7.5.5 Recent strategies and developments:
- 7.5.5.1 Geographical Expansions:
- 7.5.6 SWOT Analysis
- 7.6 Hemlock Semiconductor Operations LLC and Hemlock Semiconductor, L.L.C.
- 7.6.1 Company Overview
- 7.6.2 SWOT Analysis
- 7.7 DAQO NEW ENERGY CORP.
- 7.7.1 Company Overview
- 7.7.2 Financial Analysis
- 7.7.3 Research & Development Expenses
- 7.7.4 Recent strategies and developments:
- 7.7.4.1 Geographical Expansions:
- 7.7.5 SWOT Analysis
- 7.8 Xinte Energy Co., Ltd. (TEBA Co., Ltd.)
- 7.8.1 Company Overview
- 7.8.2 Recent strategies and developments:
- 7.8.2.1 Partnerships, Collaborations, and Agreements:
- 7.8.2.2 Geographical Expansions:
- 7.8.3 SWOT Analysis
- 7.9 High-Purity Silicon America Corporation (SUMCO Corporation)
- 7.9.1 Company Overview
- 7.9.2 Financial Analysis
- 7.9.3 Regional Analysis
- 7.9.4 Research & Development Expenses
- 7.9.5 SWOT Analysis
- 7.10. Mitsubishi Materials Corporation
- 7.10.1 Company Overview
- 7.10.2 Financial Analysis
- 7.10.3 Regional Analysis
- 7.10.4 Research & Development Expenses
- 7.10.5 SWOT Analysis
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