Product Code: 69073
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.
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.
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.
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.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
TABLE OF CONTENTS
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Number of Solar PV Installation
- 4.1.2 Other Drivers
- 4.2 Restraints
- 4.3 Industry Value Chain Analysis
- 4.4 Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Technological Snapshot
5 MARKET SEGMENTATION
- 5.1 End-user Industry
- 5.1.1 Solar PV
- 5.1.2 Electronics
- 5.1.3 Others
- 5.2 Geography
- 5.2.1 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 India
- 126.96.36.199 Japan
- 188.8.131.52 South Korea
- 184.108.40.206 Rest of Asia-Pacific
- 5.2.2 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 22.214.171.124 Mexico
- 5.2.3 Europe
- 126.96.36.199 Germany
- 188.8.131.52 United Kingdom
- 184.108.40.206 Italy
- 220.127.116.11 France
- 18.104.22.168 Rest of Europe
- 5.2.4 South America
- 22.214.171.124 Brazil
- 126.96.36.199 Argentina
- 188.8.131.52 Rest of South America
- 5.2.5 Middle-East and Africa
- 184.108.40.206 Saudi Arabia
- 220.127.116.11 South Africa
- 18.104.22.168 Rest of Middle-East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Asia Silicon (Qinghai) Co., Ltd
- 6.4.2 Daqo New Energy Co., Ltd.
- 6.4.3 Hanwha Chemical Corporation
- 6.4.4 Hemlock Semiconductor L.L.C.
- 6.4.5 Mitsubishi Polycrystalline Silicon America Corporation
- 6.4.6 OCI Company Ltd.
- 6.4.7 Qatar Solar Technologies
- 6.4.8 REC Silicon ASA
- 6.4.9 Tokuyama Corporation
- 6.4.10 Wacker Chemie AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS