New York
City, 29 January 2019: The global Polysilicon Market is projected to
exceed USD 13.24 Billion by 2026 according to a new report published by Polaris
Market Research. Polysilicon is a high purity silicon grade and a major raw
material for the electronics and photovoltaics (PV) industry. Silicon has
abundant availability from which polysilicon is manufactured via three
commercial processes. Its demand is primarily driven by electronics and
semiconductor components manufacturing. Poly-Si is also used in the production
of PV wafers, which is another very strong growth factor for its global market.
The global
solar installations in 2017 surpassed 100 GW for the first time ever. This
phenomenon has raised the polysilicon and wafer manufacturing ranking. Though
the solar installation has grown globally on account of higher demand for the
renewable energy, the polysilicon market witnessed over supply in 2017. This
weak demand came through China due to the feed-in tariff deadline and lack of
transmission line in West China from the sunnier regions.
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Global population has actively adopted solar energy in different end-use sectors for different applications This has resulted in increased consumption of polysilicon in the photovoltaics industry. Improvement in several emerging countries of the world and rising middle-class have been major parameters for the growth of these end-use sectors. The demand for consumer electronics has also grown rapidly due to such economic and social factors.
Polysilicon
is extensively used in electrical & electronics industry for the production
of electrical components such as integrated circuits, which is an essential
component in many electronics assemblies. Increased consumer demand for
smartphones, personal computers, and data storage devices has resulted in
increased demand of polysilicon in the electrical & electronics industry
globally.
Competitive Landscape and Key Vendors:
China is a
major consumer and also the largest PV module-manufacturing base, which also
makes it the largest consumer of polysilicon globally. However, the country has
witnessed challenges in poly-Si market on account of deadline for Feed in
tariff (FIT) and the ongoing trade disputes between China and the United
States. The situation in China has also led to severe financial distress in
U.S. as the later has lost access to China’s PV manufacturing industry.
Asia Pacific
is anticipated to be the largest and fastest growing regional market for
polysilicon due to the industrial growth of its countries, especially the
emerging nations. China, India, South Korea, Japan, and few Southeast Asian
countries have significantly contributed to the region’s growth.
The global
polysilicon market comprises of large multinational and domestic companies. The
industry is moderately consolidated and highly competitive. Some of the major
polysilicon market players include REC Silicon, Wacker Chemie, LDK Solar
Company Ltd., Tokuyama Corporation, CSG Holdings Co., Ltd., Mitsubishi
Materials Corporation, and GCL-Poly Energy Holdings Ltd.
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