Chlorosilane Market for Solar Grade Silicone by Product (Methylchlorosilanes, Dimethylchlorosilanes, Tetrachlorosilanes, Trichlorosilanes), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 20

Chlorosilane Market for Solar Grade Silicone by Product (Methylchlorosilanes, Dimethylchlorosilanes, Tetrachlorosilanes, Trichlorosilanes), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

The chlorosilanes market for solar grade silicones is slated to showcase strong growth by 2028 on account of rising number of solar generation plants worldwide. Growing concerns associated with global warming are creating a massive demand for clean energy initiatives, fostering the overall industry expansion.

A drastic shift in focus of developed and developing economies, who have set ambitious decarbonization goals amidst severe climate change challenges and environmental concerns, is massively scaling up development and deployment of solar technologies. Increasing photovoltaic demand is expected to propel the need for associated raw materials and components as well.

Solar is the fastest-growing renewable source of new electricity generation in the United States. In 2021, the U.S. showcased a significant rise in new solar projects, which were in line with the country’s ambitious electricity decarbonization goal for 2035.

Leading chemical companies across the globe are foraying into the clean energy market with sustainable solar-enabling materials. In 2021, Evonik made a similar initiative with the launch of a novel high-performance material called Siridion® for batteries. Growing penetration of lithium-ion batteries for their efficiency in solar systems is driving chemical companies like Evonik to develop more advanced materials.

Evonik’s Silanes Business Line, R&D and innovation departments collaborated to design the industry leading material and the company is teaming up with the University of Duisburg-Essen funded by the German Federal Ministry of Economic Affairs and Energy until 2023 to enhance efficiency, performance, and strength of lithium-ion batteries.

The global chlorosilanes market for solar grade silicones is classified into product and region.

Based on product, the market is bifurcated into tetrachlorosilanes, trichlorosilanes, methylchlorosilanes, dimethylchlorosilanes, and others.

The others chlorosilanes product segment for solar grade silicones is expected to witness substantial growth and is estimated to secure more than $220 million by 2028 due to significant environmental degradation and the subsequent need to perform mitigative activities. Additionally, continuous deployment of favorable government incentives and tax rebates are encouraging rapid growth in installation of solar panels is driving market growth.

Moreover, an increasing demand for solar photovoltaic (PV) modules and systems across both commercial as well as residential applications is anticipated to fuel the dimethylchlorosilanes sub-segment. In 2021, the market from dimethylchlorosilanes valued at more than $35 million.

based on the regional landscape, the chlorosilanes market for solar grade silicones in Japan is expected to grow more than $350 million by the end of 2028 due to surge in over-ambitious clean energy goals and strategies. Japan is also poised to experience heavy growth in demand for chlorosilanes for solar grade silicone owing to large-scale solar projects and investments in the country.

Japan is one of the world’s largest renewable energy landscapes displaying significant long-term potential. In July 2021, Japan’s Ministry of Economy, Trade & Industry (METI) released a tentative 6Th Strategic Energy Plan entailing carbon neutrality goal for 2050 aiming to reduce greenhouse gas emissions by 2030 from the 2013 levels by 46%.