The Polysilicon Market size will witness a growing demand throughout the world with a substantially higher CAGR in the forecasted timespan. This is due to the rising demand in the market for fabrication of solar cells and electronic semiconductors. Initially in the electronic industry, polysilicon was used majorly in integrated circuits. The polysilicon market tendency has now reversed with increasing solar project installations.
The polysilicon market is majorly driven by the growth of semiconductor and photovoltaic industries. Growing demand in the semiconductor industry further enhances the use of polysilicon in the market. Polysilicon is the major element for PV solar panels worldwide and therefore leading to a rising demand of the product. Moreover, it is also used as a chief raw material for the manufacturing of electronic chips. Hence, rising demand for communication devices and semiconductors in data processing such as smartphones and tablets are driving the polysilicon market. Also, due to the forthcoming clean energy projects in various countries, the photovoltaic segment is expected to witness exponential growth. The end user industries dominate this extremely application based market. In the solar cell applications, polysilicon is widely used as a feedstock.
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Government of many countries has undertaken initiatives to increase the production of consumer electronics and reduce carbon footprints which has subsequently given a push to the market. Also, companies have adopted the forward integration strategies and entered into the sector of photovoltaic and semiconductor.
In the polysilicon market globally, solar PV is the fastest growing industry. Demand for PV is increasing rapidly worldwide due to consumer awareness clubbed with government incentives program. Also, the demand for PV is supported by government policies implemented to reduce the emission of carbon dioxide in countries such as Japan, China and the United States. These three countries jointly account for more than half of the solar PV market round the world.
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Producers use different technologies for production depending on the scale of production and end-use application. For polysilicon market, the siemens process and fluidized bed reactor (FBR) are the two main production techniques used in the production of polycrystalline silicon(poly-si). Also, the manufacturing of solar grade silicon (SG-Si) by using the FBR technology remains the most effective way for producing 8N purity poly-si. FBR process enables SG-Si manufacturing at low cost and also reduces the energy consumption by nearly 80%. Polysilicon is one of the essential element for the manufacture of solar wafers.
The major players operating in polysilicon market include Woongjin Polysilicon Co. Ltd., Active Solar Energietechnik GmbH, TBEA Co. Ltd, DAQO New Energy Corporation, SunEdison Inc., Hemlock Semiconductor Group, LDK Solar Co. Ltd., Tokuyama Corporation, Rec Silicon, OIC Chemical, GCL-Poly, and Wacker Chemie AG to name a few.
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In 2015, Asia-Pacific region was the market leader in terms of market share and is projected to continue the position in the forecasted timeframe. This is due to the rising growth of electronics and PV manufacturing industries in this region.
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