The polysilicon market is estimated to grow at an approximate CAGR of 10% from 2017 to 2025. Polysilicon is one of the key materials used in manufacturing photovoltaic cells. The escalating preference for photovoltaic (PV) and semiconductors is projected to augment demand over the forecast period.
Solar power is expected to emerge as one of the cheapest source of energy by 2020. Favorable government initiatives and policies for reduction of carbon emission established in the U.S., Japan, China, and European countries are anticipated to increase the consumption of photovoltaic panels. Polysilicon is preferred in the solar energy market as compared to its substitutes such as CdTe and CGS on account of its high efficiency.
According to the International Energy Agency (IEA), the global PV sector is projected to grow at a rate of 25% annually. The demand of solar wafer and crystalline solar PV installation leads to the high consumption poly-Si across the world.
Poly-Si is used widely in the production of solar panels and semi conductors. PV installations are expected to increase due to upcoming clean energy projects across various countries. The most effective way of producing solar grade silicon (SG-Si) is by using the fluidized bed reactor (FBR) technology. This process reduces power consumption by 80% and enables continuous production. This process is economically advised as it is a low cost and sustainable process.
Electronic grade silicon (EG-Si) is used for fabricating single crystal silicon used in integrated circuits (IC), very large scale integration (VLSI), and ultra-scale integration (ULSI). The electronics segment requires high purity poly-Si ranging between 9N to 11N. Siemens process is used to produce EG-Si which meets high resistivity and purity standards.
High demand for PV and electronics is expected to arise from the Asia-Pacific region. The expanding PV and electronics industry in China, Japan and India is anticipated to drive the poly-Si consumption in this region.
Technological advancement and rising purchase of consumer electronics is projected to lead to rapid increase in the demand of polysilicon. Top companies such as GCL-Poly Energy Holdings Limited, Woongjin Polysilicon Co. Ltd., OCI Company Ltd., Daqo New Energy Corp., and Tokuyama Corporation, are located in the Asia-Pacific region thereby influencing the market positively.
The escalating demand for PV installation in the U.S. and Canada is expected to contribute to the consumption of poly-Si. In terms of volume and value, North America occupied the second largest market share in 2016.
The process of reducing carbon footprints and increasing production of consumer electronics is expected to result into high industry growth. Major solar installation projects being planned in Chile, Honduras and Brazil is projected to augment demand in Central & South America.
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase polysilicon over the coming years. Some leading consumers of poly-Si in the photovoltaic industry are Jinko Solar (China), Trina Solar (China), and Canadian Solar Inc. (Canada).
The quality and purity of the product estimates the sustainability and efficiency of the manufacturers. Some of the top manufacturers engaged in this industry are GCL-Poly Energy Holdings Limited, Wacker Chemie, Hemlock Semiconductor, REC Silicon ASA, OCI, and SunEdison Inc.
Wacker Chemie is a major producer of high quality polysilicon. In April 2016, Wacker opened its new polysilicon production facility with a capacity of 20,000 tons per annum to cater to the emerging solar PV capacity additions. The company has manufacturing facilities in the U.S. and Germany.
Over the years the plants have faced issues such as anti dumping charges, oversupply, and plant shut down. However, the industry has maintained steady growth due to clean energy projects, price stability, and favourable supply and demand scenario. Some of the other companies operating in the market include Tokuyama Corporation, LDK Solar Co. Ltd., DAQO New Energy, and TBEA Co. Ltd.
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