Polysilicon Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by End-user Industry (Solar PV, Electronics, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Market Snapshot

Polysilicon Market  - Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %

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Market Overview

The global market for polysilicon is expected to grow at a CAGR of more than 5% during the forecast period. The major factor driving the market studied is the increasing number of solar photovoltaic (PV) installation.

Solar PV industry is expected to dominate the market studied during the forecast period.

Asia-Pacific is expected to dominate the global polysilicon market and is also forecasted to be the fastest-growing market during the forecast period owing to the increasing consumption for countries such as China and India.

Scope of the Report

The Polysilicon market report includes:

End-user Industry
Solar PV
Electronics
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East & Africa

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Key Market Trends

Growing Demand from the Solal PV Industry

  • Polysilicon is a key material in the solar PV industry as it is one of the most important feedstock materials used to manufacture silicon-based solar cells.
  • The solar PV industry is one of the fastest growing industries in the world. According to the International Energy Agency (IEA), this industry accounts for almost two-thirds of the net power capacity, worldwide.
  • According to the International Renewable Energy Agency (IRENA), the global renewable energy share is expected to reach 30% by 2030 and is expected to further increase to 50% by 2050.
  • Furthermore, declining installation costs and increased capacity factors have improved the economic competitiveness of solar PV around the world.
  • Therefore, the growing solar PV industry is expected to boost the demand for polysilicon in coming years.
Polysilicon Market Revenue Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region represents the largest market for polysilicon and is also expected to be the fastest growing region during the forecast period.
  • In the past five years, China's solar photovoltaic (PV) power generation has seen extremely rapid development, and the country's installed capacity and solar power generation now rank top in the world. China's large-scale PV development is supported by the government's subsidies.
  • According to The Industry, Science and Technology International Strategy Center (ISTI), the production value of Taiwan’s semiconductor industry is anticipated to grow substantially owing to the increasing demand for integrated circuit (IC) devices for artificial intelligence applications.
  • Additionally, Semiconductor industry is likely to reach USD 96 billion by 2020, owing to innovations in microchips for applications to gain momentum. This is expected to boost demand for ICs which in turn will boost the demand for the market studied.
  • The Indian government plays an active role in promoting solar energy in the country by inviting foreign players and creating attractive schemes and policies for the sector. The government has allowed 100% FDI under automatic route for renewable power generation and distribution projects, which is expected to increase the participation of global players in the Indian market.
  • According to India Electronics and Semiconductor Association, the semiconductor component market in the country is expected to be worth USD 32.35 billion by 2025, displaying a CAGR of 10.1% (2018 - 2025). Thus, the ongoing Make in India initiative by the government, is expected to result in investments in the semiconductor industry in the country.
  • Hence, with such trends, coupled with rapidly growing end users, are expected to boost the demand for polysilicon in countries of Asia-Pacific region, during the forecast period.
Polysilicon Market Regional Trends

Competitive Landscape

The global polysilicon market is partially fragmented. The major companies are OCI Company Ltd., REC Silicon ASA, Tokuyama Corporation, Wacker Chemie AG, and Hemlock Semiconductor L.L.C. among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Number of Solar PV Installation

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

  5. 5. MARKET SEGMENTATION

    1. 5.1 End-user Industry

      1. 5.1.1 Solar PV

      2. 5.1.2 Electronics

      3. 5.1.3 Others

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asia Silicon (Qinghai) Co., Ltd

      2. 6.4.2 Daqo New Energy Co., Ltd.

      3. 6.4.3 Hanwha Chemical Corporation

      4. 6.4.4 Hemlock Semiconductor L.L.C.

      5. 6.4.5 Mitsubishi Polycrystalline Silicon America Corporation

      6. 6.4.6 OCI Company Ltd.

      7. 6.4.7 Qatar Solar Technologies

      8. 6.4.8 REC Silicon ASA

      9. 6.4.9 Tokuyama Corporation

      10. 6.4.10 Wacker Chemie AG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The undefined market is studied from 2016 - 2026.

The undefined is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

OCI Company Ltd., REC Silicon ASA, Tokuyama Corporation, Wacker Chemie AG, Hemlock Semiconductor L.L.C. are the major companies operating in undefined.

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