Market Size of Polysilicon Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 14.49 Billion |
| Market Size (2029) | USD 26.94 Billion |
| CAGR (2024 - 2029) | 13.21 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Polysilicon Market Analysis
The Polysilicon Market size is estimated at USD 14.49 billion in 2024, and is expected to reach USD 26.94 billion by 2029, growing at a CAGR of 13.21% during the forecast period (2024-2029).
COVID-19 negatively affected the market studied in 2020. Considering the government-imposed lockdowns, solar projects across the world were temporarily halted during the pandemic. However, the demand for the market studied recovered significantly in 2021 and is expected to grow at a significant rate in the coming years.
- Over the short term, the major factor driving the market studied are the increasing number of solar photovoltaic (PV) installations and growth in the semiconductor industry.
- However, emerging competitors, such as upgraded metallurgical-grade silicon (UMG-Si) solar cells and high capital expenditure, are likely to hinder the market.
- Technological advancement in the production process is likely to be a major opportunity in the global polysilicon market over the forecast period.
- Asia-Pacific is expected to dominate the global polysilicon market and is also expected to be the fastest-growing market during the forecast period owing to the increasing consumption of countries such as China and India.
