Market Research

Polysilicon Market Forecasts to 2028 - Global Analysis By Grade (Electronic Grade and Solar Grade), By Form (Granules, Chunks and Rods), By Product Type, By Technology, By Application and By Geography

Best Price Guarantee Length Publisher Published Date SKU
from $4,150 175 Pages Stratistics Market Research Consulting February, 2023 SMR17743175
Best Price Guarantee
Price from $4,150
Length 175 Pages
Publisher Stratistics Market Research Consulting
Published Date February, 2023
SKU SMR17743175

Polysilicon Market Forecasts to 2028 - Global Analysis By Grade (Electronic Grade and Solar Grade), By Form (Granules, Chunks and Rods), By Product Type, By Technology, By Application and By Geography

According to Stratistics MRC, the Global Polysilicon Market is accounted for $10.22 billion in 2022 and is expected to reach $23.88 billion by 2028 growing at a CAGR of 15.2% during the forecast period. Metallurgical-grade silicon is used to develop polysilicon, also known as polycrystalline silicon. It is a very pure variety of silicon made up of numerous smaller crystals. This substance is an essential component used in the production of solar cells and other electronic devices.

According to International Renewable Energy Agency (IRENA), the total global solar capacity expansion increased by 19% in 2021, recording 133 GW additional installations. Furthermore, as per World Economic Forum, in 2021, for the first time, solar and wind together generated over 10% of the total electricity across the world, with solar power accounting for around 5% of the share.

Market Dynamics:

Driver:

Demand for solar power

An increase in the demand for polysilicon from the solar power industry is the main factor driving the market growth rate. The development and expansion of various end-user verticals in emerging economies, as well as the rising demand for polysilicon for a range of industrial applications, including the production of multi-crystalline solar panels, electronics, civilian small solar equipment, and others, will also directly and favourably affect the market's growth rate.

Restraint:

Insufficient Raw Materials and High Costs

Lack of demand and supply for raw materials as a result of the lockup and price volatility will be a significant barrier to the market's growth. The market's growth rate will be decelerated by the high cost of R&D, stringent government regulations on industrial operations, rising import and export taxes, and severe international trade barriers. The market's capacity for growth will also be restricted by high capital costs.

Opportunity:

Government initiatives

An increase in industrialization, a greater reliance on renewable energy sources, an increase in the number of small and medium-sized businesses, particularly in developing countries, and a growing emphasis on technological advancements and modernization of production methods will all contribute to the industry's growth. The government will also make greater efforts to reduce the cost of solar products.

Threat:

Use of Capital Intensive Manufacturing Process

The development of a manufacturing facility is a costly venture that also needs cutting-edge equipment and a highly qualified workforce. At present, China controls the market, producing about 80% of the world's goods. A silicon chip shortage brought on by pandemic-related supply chain disruptions had an effect on all industries related to semiconductor electronics, including the automotive and consumer electronics sectors, which depend on semiconductor components. Several nations have realised the significance of domestic production and its geopolitical implications for their semiconductor-dependent industries after witnessing supply chain vulnerabilities.

Covid-19 Impact:

In 2020, China dominated the world market and served as the central focus of the COVID-19 outbreak. The regional lockdown restrictions that were imposed during the pandemic disrupted supply chains and had a negative impact on many end-use industries. Additionally, trade restrictions, labour and raw material shortages, a lack of freight containers, and logistical difficulties all contributed to the pandemic's disruption of the global supply chain. Moreover, the capacity for producing semiconductors was significantly impacted by the lack of raw materials, which led to a total lack of silicon chips.

The photovoltaic segment is expected to be the largest during the forecast period

Due to the widespread use of materials in the production of semiconductors and solar photovoltaic panels, the photovoltaics segment is expected to dominate the market during the projection period. However, the main factor driving this segment's growth is the rising global demand for the installation of solar PV systems, which in turn drives up demand.

The electronics grade segment is expected to have the highest CAGR during the forecast period

Due to the electronics sector's rapid growth and a rise in solar energy usage, the electronics segment is expected to have the highest CAGR during the forecast period. Manufacturers are considering other renewable energy options, like solar energy, in a variety of business sectors due to growing concerns about the depletion of conventional energy sources and the sustainability of the environment. Moreover, solar panels are used as alternative sources of electricity alongside various electrical appliances in power grids and commercial and residential buildings.

Region with largest share:

Because of rising consumption in nations like China, South Korea, and India, the Asia-Pacific region is expected to dominate the global market for polysilicon during the estimation period. The nation's 122,000-ton annual production capacity for polysilicon was emerging, according to the Chinese ministry. Additionally, the majority of the largest solar power facilities in the world as of June 2021 were identified in China and India. Moreover, with a total output capacity of 2,245 megawatts, the Bhadla solar farm is located in India's Jodhpur district, Rajasthan.

Region with highest CAGR:

Due to a variety of factors, including an increase in power outages, an immediate need for dependable power supply, rising demand from a range of end-use industries, and an increase in research and development activities, the Asia-Pacific region is anticipated to have the highest CAGR in the polysilicon market during the forecast period. Furthermore, rising consumption and demand from nations like China and India, investment policies by the government to support industrial growth, and high economic growth are driving market growth in this region.

Key players in the market

Some of the key players in Polysilicon market include SunEdison Inc, Hemlock Semiconductor Operations And Hemlock Semiconductor, REC Silicon ASA, Tokuyama Corporation, Mitsubishi Polycrystalline Silicon America Corporation, Qatar Solar Technologies, Wacker Chemie AG, Osaka Titanium Technologies Co. Ltd, OCI Solar Power LLC, Daqo New Energy Corp. and GCL-Poly Energy Holdings Limited.

Key Developments:

In August 2022, REC Silicon ASA and Mississippi Silicon collaborated to develop a solar supply chain in the United States. They plan to develop this solar supply chain from raw silicon to polysilicon and finally to fully assembled modules.

In April 2022, OCI Company Ltd signed a binding memorandum of understanding (MoU) with the South Korean-based solar manufacturer Hanwha Solutions, which is a unit of Hanwha, for the supply of polysilicon. The order was valued at about USD 1.2 billion. This has helped the company in increasing its profit margins.

Grades Covered:
• Electronic Grade
• Solar Grade

Forms Covered:
• Granules
• Chunks
• Rods

Product Types Covered:
• Parallel Connection
• Series Connection

Technologies Covered:
• Upgraded Metallurgical-Grade Silicon Process
• Fluidized Bed Reactor (FBR) Process
• Siemens Process

Applications Covered:
• Photovoltaic
• Solar Power Generation
• Monocrystalline Solar Panel
• Multicrystalline Solar Panel
• Civilian Solar Small Equipment

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Polysilicon Market, By Grade
5.1 Introduction
5.2 Electronic Grade
5.3 Solar Grade
6 Global Polysilicon Market, By Form
6.1 Introduction
6.2 Granules
6.3 Chunks
6.4 Rods
7 Global Polysilicon Market, By Product Type
7.1 Introduction
7.2 Parallel Connection
7.3 Series Connection
8 Global Polysilicon Market, By Technology
8.1 Introduction
8.2 Upgraded Metallurgical-Grade Silicon Process
8.3 Fluidized Bed Reactor (FBR) Process
8.4 Siemens Process
9 Global Polysilicon Market, By Application
9.1 Introduction
9.2 Photovoltaic
9.3 Solar Power Generation
9.4 Monocrystalline Solar Panel
9.5 Multicrystalline Solar Panel
9.6 Civilian Solar Small Equipment
10 Global Polysilicon Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 SunEdison Inc
12.2 Hemlock Semiconductor Operations And Hemlock Semiconductor
12.3 REC Silicon ASA
12.4 Tokuyama Corporation
12.5 Mitsubishi Polycrystalline Silicon America Corporation
12.6 Qatar Solar Technologies
12.7 Wacker Chemie AG
12.8 Osaka Titanium Technologies Co. Ltd
12.9 OCI Solar Power LLC
12.10 Daqo New Energy Corp.
12.11 GCL-Poly Energy Holdings Limited
List of Tables
Table 1 Global Polysilicon Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Polysilicon Market Outlook, By Grade (2020-2028) ($MN)
Table 3 Global Polysilicon Market Outlook, By Electronic Grade (2020-2028) ($MN)
Table 4 Global Polysilicon Market Outlook, By Solar Grade (2020-2028) ($MN)
Table 5 Global Polysilicon Market Outlook, By Form (2020-2028) ($MN)
Table 6 Global Polysilicon Market Outlook, By Granules (2020-2028) ($MN)
Table 7 Global Polysilicon Market Outlook, By Chunks (2020-2028) ($MN)
Table 8 Global Polysilicon Market Outlook, By Rods (2020-2028) ($MN)
Table 9 Global Polysilicon Market Outlook, By Product Type (2020-2028) ($MN)
Table 10 Global Polysilicon Market Outlook, By Parallel Connection (2020-2028) ($MN)
Table 11 Global Polysilicon Market Outlook, By Series Connection (2020-2028) ($MN)
Table 12 Global Polysilicon Market Outlook, By Technology (2020-2028) ($MN)
Table 13 Global Polysilicon Market Outlook, By Upgraded Metallurgical-Grade Silicon Process (2020-2028) ($MN)
Table 14 Global Polysilicon Market Outlook, By Fluidized Bed Reactor (FBR) Process (2020-2028) ($MN)
Table 15 Global Polysilicon Market Outlook, By Siemens Process (2020-2028) ($MN)
Table 16 Global Polysilicon Market Outlook, By Application (2020-2028) ($MN)
Table 17 Global Polysilicon Market Outlook, By Photovoltaic (2020-2028) ($MN)
Table 18 Global Polysilicon Market Outlook, By Solar Power Generation (2020-2028) ($MN)
Table 19 Global Polysilicon Market Outlook, By Monocrystalline Solar Panel (2020-2028) ($MN)
Table 20 Global Polysilicon Market Outlook, By Multicrystalline Solar Panel (2020-2028) ($MN)
Table 21 Global Polysilicon Market Outlook, By Civilian Solar Small Equipment (2020-2028) ($MN)
Table 22 North America Polysilicon Market Outlook, By Country (2020-2028) ($MN)
Table 23 North America Polysilicon Market Outlook, By Grade (2020-2028) ($MN)
Table 24 North America Polysilicon Market Outlook, By Electronic Grade (2020-2028) ($MN)
Table 25 North America Polysilicon Market Outlook, By Solar Grade (2020-2028) ($MN)
Table 26 North America Polysilicon Market Outlook, By Form (2020-2028) ($MN)
Table 27 North America Polysilicon Market Outlook, By Granules (2020-2028) ($MN)
Table 28 North America Polysilicon Market Outlook, By Chunks (2020-2028) ($MN)
Table 29 North America Polysilicon Market Outlook, By Rods (2020-2028) ($MN)
Table 30 North America Polysilicon Market Outlook, By Product Type (2020-2028) ($MN)
Table 31 North America Polysilicon Market Outlook, By Parallel Connection (2020-2028) ($MN)
Table 32 North America Polysilicon Market Outlook, By Series Connection (2020-2028) ($MN)
Table 33 North America Polysilicon Market Outlook, By Technology (2020-2028) ($MN)
Table 34 North America Polysilicon Market Outlook, By Upgraded Metallurgical-Grade Silicon Process (2020-2028) ($MN)
Table 35 North America Polysilicon Market Outlook, By Fluidized Bed Reactor (FBR) Process (2020-2028) ($MN)
Table 36 North America Polysilicon Market Outlook, By Siemens Process (2020-2028) ($MN)
Table 37 North America Polysilicon Market Outlook, By Application (2020-2028) ($MN)
Table 38 North America Polysilicon Market Outlook, By Photovoltaic (2020-2028) ($MN)
Table 39 North America Polysilicon Market Outlook, By Solar Power Generation (2020-2028) ($MN)
Table 40 North America Polysilicon Market Outlook, By Monocrystalline Solar Panel (2020-2028) ($MN)
Table 41 North America Polysilicon Market Outlook, By Multicrystalline Solar Panel (2020-2028) ($MN)
Table 42 North America Polysilicon Market Outlook, By Civilian Solar Small Equipment (2020-2028) ($MN)
Table 43 Europe Polysilicon Market Outlook, By Country (2020-2028) ($MN)
Table 44 Europe Polysilicon Market Outlook, By Grade (2020-2028) ($MN)
Table 45 Europe Polysilicon Market Outlook, By Electronic Grade (2020-2028) ($MN)
Table 46 Europe Polysilicon Market Outlook, By Solar Grade (2020-2028) ($MN)
Table 47 Europe Polysilicon Market Outlook, By Form (2020-2028) ($MN)
Table 48 Europe Polysilicon Market Outlook, By Granules (2020-2028) ($MN)
Table 49 Europe Polysilicon Market Outlook, By Chunks (2020-2028) ($MN)
Table 50 Europe Polysilicon Market Outlook, By Rods (2020-2028) ($MN)
Table 51 Europe Polysilicon Market Outlook, By Product Type (2020-2028) ($MN)
Table 52 Europe Polysilicon Market Outlook, By Parallel Connection (2020-2028) ($MN)
Table 53 Europe Polysilicon Market Outlook, By Series Connection (2020-2028) ($MN)
Table 54 Europe Polysilicon Market Outlook, By Technology (2020-2028) ($MN)
Table 55 Europe Polysilicon Market Outlook, By Upgraded Metallurgical-Grade Silicon Process (2020-2028) ($MN)
Table 56 Europe Polysilicon Market Outlook, By Fluidized Bed Reactor (FBR) Process (2020-2028) ($MN)
Table 57 Europe Polysilicon Market Outlook, By Siemens Process (2020-2028) ($MN)
Table 58 Europe Polysilicon Market Outlook, By Application (2020-2028) ($MN)
Table 59 Europe Polysilicon Market Outlook, By Photovoltaic (2020-2028) ($MN)
Table 60 Europe Polysilicon Market Outlook, By Solar Power Generation (2020-2028) ($MN)
Table 61 Europe Polysilicon Market Outlook, By Monocrystalline Solar Panel (2020-2028) ($MN)
Table 62 Europe Polysilicon Market Outlook, By Multicrystalline Solar Panel (2020-2028) ($MN)
Table 63 Europe Polysilicon Market Outlook, By Civilian Solar Small Equipment (2020-2028) ($MN)
Table 64 Asia Pacific Polysilicon Market Outlook, By Country (2020-2028) ($MN)
Table 65 Asia Pacific Polysilicon Market Outlook, By Grade (2020-2028) ($MN)
Table 66 Asia Pacific Polysilicon Market Outlook, By Electronic Grade (2020-2028) ($MN)
Table 67 Asia Pacific Polysilicon Market Outlook, By Solar Grade (2020-2028) ($MN)
Table 68 Asia Pacific Polysilicon Market Outlook, By Form (2020-2028) ($MN)
Table 69 Asia Pacific Polysilicon Market Outlook, By Granules (2020-2028) ($MN)
Table 70 Asia Pacific Polysilicon Market Outlook, By Chunks (2020-2028) ($MN)
Table 71 Asia Pacific Polysilicon Market Outlook, By Rods (2020-2028) ($MN)
Table 72 Asia Pacific Polysilicon Market Outlook, By Product Type (2020-2028) ($MN)
Table 73 Asia Pacific Polysilicon Market Outlook, By Parallel Connection (2020-2028) ($MN)
Table 74 Asia Pacific Polysilicon Market Outlook, By Series Connection (2020-2028) ($MN)
Table 75 Asia Pacific Polysilicon Market Outlook, By Technology (2020-2028) ($MN)
Table 76 Asia Pacific Polysilicon Market Outlook, By Upgraded Metallurgical-Grade Silicon Process (2020-2028) ($MN)
Table 77 Asia Pacific Polysilicon Market Outlook, By Fluidized Bed Reactor (FBR) Process (2020-2028) ($MN)
Table 78 Asia Pacific Polysilicon Market Outlook, By Siemens Process (2020-2028) ($MN)
Table 79 Asia Pacific Polysilicon Market Outlook, By Application (2020-2028) ($MN)
Table 80 Asia Pacific Polysilicon Market Outlook, By Photovoltaic (2020-2028) ($MN)
Table 81 Asia Pacific Polysilicon Market Outlook, By Solar Power Generation (2020-2028) ($MN)
Table 82 Asia Pacific Polysilicon Market Outlook, By Monocrystalline Solar Panel (2020-2028) ($MN)
Table 83 Asia Pacific Polysilicon Market Outlook, By Multicrystalline Solar Panel (2020-2028) ($MN)
Table 84 Asia Pacific Polysilicon Market Outlook, By Civilian Solar Small Equipment (2020-2028) ($MN)
Table 85 South America Polysilicon Market Outlook, By Country (2020-2028) ($MN)
Table 86 South America Polysilicon Market Outlook, By Grade (2020-2028) ($MN)
Table 87 South America Polysilicon Market Outlook, By Electronic Grade (2020-2028) ($MN)
Table 88 South America Polysilicon Market Outlook, By Solar Grade (2020-2028) ($MN)
Table 89 South America Polysilicon Market Outlook, By Form (2020-2028) ($MN)
Table 90 South America Polysilicon Market Outlook, By Granules (2020-2028) ($MN)
Table 91 South America Polysilicon Market Outlook, By Chunks (2020-2028) ($MN)
Table 92 South America Polysilicon Market Outlook, By Rods (2020-2028) ($MN)
Table 93 South America Polysilicon Market Outlook, By Product Type (2020-2028) ($MN)
Table 94 South America Polysilicon Market Outlook, By Parallel Connection (2020-2028) ($MN)
Table 95 South America Polysilicon Market Outlook, By Series Connection (2020-2028) ($MN)
Table 96 South America Polysilicon Market Outlook, By Technology (2020-2028) ($MN)
Table 97 South America Polysilicon Market Outlook, By Upgraded Metallurgical-Grade Silicon Process (2020-2028) ($MN)
Table 98 South America Polysilicon Market Outlook, By Fluidized Bed Reactor (FBR) Process (2020-2028) ($MN)
Table 99 South America Polysilicon Market Outlook, By Siemens Process (2020-2028) ($MN)
Table 100 South America Polysilicon Market Outlook, By Application (2020-2028) ($MN)
Table 101 South America Polysilicon Market Outlook, By Photovoltaic (2020-2028) ($MN)
Table 102 South America Polysilicon Market Outlook, By Solar Power Generation (2020-2028) ($MN)
Table 103 South America Polysilicon Market Outlook, By Monocrystalline Solar Panel (2020-2028) ($MN)
Table 104 South America Polysilicon Market Outlook, By Multicrystalline Solar Panel (2020-2028) ($MN)
Table 105 South America Polysilicon Market Outlook, By Civilian Solar Small Equipment (2020-2028) ($MN)
Table 106 Middle East & Africa Polysilicon Market Outlook, By Country (2020-2028) ($MN)
Table 107 Middle East & Africa Polysilicon Market Outlook, By Grade (2020-2028) ($MN)
Table 108 Middle East & Africa Polysilicon Market Outlook, By Electronic Grade (2020-2028) ($MN)
Table 109 Middle East & Africa Polysilicon Market Outlook, By Solar Grade (2020-2028) ($MN)
Table 110 Middle East & Africa Polysilicon Market Outlook, By Form (2020-2028) ($MN)
Table 111 Middle East & Africa Polysilicon Market Outlook, By Granules (2020-2028) ($MN)
Table 112 Middle East & Africa Polysilicon Market Outlook, By Chunks (2020-2028) ($MN)
Table 113 Middle East & Africa Polysilicon Market Outlook, By Rods (2020-2028) ($MN)
Table 114 Middle East & Africa Polysilicon Market Outlook, By Product Type (2020-2028) ($MN)
Table 115 Middle East & Africa Polysilicon Market Outlook, By Parallel Connection (2020-2028) ($MN)
Table 116 Middle East & Africa Polysilicon Market Outlook, By Series Connection (2020-2028) ($MN)
Table 117 Middle East & Africa Polysilicon Market Outlook, By Technology (2020-2028) ($MN)
Table 118 Middle East & Africa Polysilicon Market Outlook, By Upgraded Metallurgical-Grade Silicon Process (2020-2028) ($MN)
Table 119 Middle East & Africa Polysilicon Market Outlook, By Fluidized Bed Reactor (FBR) Process (2020-2028) ($MN)
Table 120 Middle East & Africa Polysilicon Market Outlook, By Siemens Process (2020-2028) ($MN)
Table 121 Middle East & Africa Polysilicon Market Outlook, By Application (2020-2028) ($MN)
Table 122 Middle East & Africa Polysilicon Market Outlook, By Photovoltaic (2020-2028) ($MN)
Table 123 Middle East & Africa Polysilicon Market Outlook, By Solar Power Generation (2020-2028) ($MN)
Table 124 Middle East & Africa Polysilicon Market Outlook, By Monocrystalline Solar Panel (2020-2028) ($MN)
Table 125 Middle East & Africa Polysilicon Market Outlook, By Multicrystalline Solar Panel (2020-2028) ($MN)
Table 126 Middle East & Africa Polysilicon Market Outlook, By Civilian Solar Small Equipment (2020-2028) ($MN)

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