Global Polysilicon Market By Type (Series Connection and Parallel Connection), By Application (Photovoltaic and Electronics) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Polysilicon Market Overview:

In 2021, the global polysilicon market was valued at USD 9,958.1 million. It is expected to grow at a 10.4% CAGR between 2023 and 2032.

Over the forecast period, growth is expected to be driven by increasing demand for semiconductors and photovoltaics. In the next few years, clean energy policy goals and exemptions from tax in the solar industry will likely increase demand. According to the International Energy Agency, the global PV sector will grow at a rate of 25.4% per year.

Global Polysilicon Market:

Application Analysis

The manufacture of semiconductors and solar photovoltaic panels is a common use for polysilicon. Due to the upcoming clean energy projects in many countries, the photovoltaic sector is expected to experience exponential growth.

FBR technology is still the best way to make 8 N pure poly-Si. It’s the most efficient method of producing solar-grade silicon (SGSi). FBR technology allows for continuous production and lowers energy consumption. According to REC Silicon, the FBR process allows for SG-Si to be manufactured at a lower cost and reduces energy consumption by 80% compared to the Siemens technology.

According to the Institute of Electrical and Electronics Engineers Journal of Photovoltaic (IEEE), approximately 80% of polysilicon production in 2000 was consumed by the semiconductor industry. The industry saw a significant trend change in 2008 when the solar sector consumed 60 to 80% of its production.

Electronic grade silicon (EGSi) can be used to fabricate single-crystal silicon for integrated circuits (IC), very big scale integration (VLSI), and ultra-scale Integration (ULSI). High purity poly-Si is required for electronics. It can be found in the 9 N to 11N range. The Siemens process is used to make EG-Si that meets both high resistance and high purity standards.

Key Market Segments:

By Type:

• Series Connection
• Parallel Connection

By Application

• Photovoltaic
• Electronics

Market Dynamics:

Two of the most important production methods used for the manufacture of polycrystalline silica (polySi) are the fluidized bed reactors (FBR), and the Siemens process. Different production techniques are preferred by manufacturers depending on their end-use and production scale.

Companies operating in this market have taken strategic steps to invest, expand, and secure long-term contracts. Wacker spent USD 2.5 billion on the development of Tennessee, the U.S.-based polysilicon manufacturing facility. The annual production capacity is more than 20,000 tons.

Regional Analysis:

Asia Pacific held the largest share of 2021’s total market share due to its rapid growth in the solar energy sector, technological advances, high GDP growth rates, and growing demand for electronic products. China, Japan, South Korea, and South Korea are the main poly-Si producers in the region.

North America accounted for the second-largest share. It is expected that North America will grow at around 11.2% CAGR over the forecast period. The market has seen a boost from initiatives in the U.S. that aim to reduce carbon footprints and improve the production of consumer electronics. Due to major solar PV installations projects in South America, Chile, Brazil, and Honduras, Central & South America will grow at the second-highest CAGR.

Key Regions and Countries covered in the rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis:

Wacker Chemie, GCL-Poly, OIC Chemical, REC Silicon, LDK Solar Co. Ltd., Tokuyama Corporation, SunEdison, DAQO New Energy, Hemlock Semiconductor Group, and TBEA Co. Ltd. are some of the most prominent companies in this market. Companies in this industry have had to deal with many challenges over the years such as plant shutdowns, antidumping regulations, and oversupply. The market will experience more balance in supply and demand, price stability, profitability, and greater efficiency over the forecast period. Forward integration strategies have been adopted by companies and they are now entering the photovoltaic and semiconductor sectors.

Key Market Players:

• Wacker Chemie
• GCL-Poly
• OIC Chemical
• REC Silicon
• Tokuyama Corporation
• LDK Solar Co. Ltd.
• Hemlock Semiconductor Group
• SunEdison
• Other Key Players

For the Polysilicon Market research study, the following years have been considered to estimate the market size: