This report was recently updated on April 13 2024 with the latest and most recent
market numbers
GLOBAL POLYSILICON MARKET ANALYSIS - FORECASTS TO 2025 By Application (Photovoltaic, Electronics), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), End-use Landscape, Vendor Landscape, and Competitive Landscape - BUSINESS INTELLIGENCE REPORT - Global Market Estimates
Market Insights
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.
Application Insights
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.
Regional Insights
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.
End-Use Landscape
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).
Competitor Analysis
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.
Please note: This is not an exhaustive list of companies profiled in the report.
1 RESEARCH METHODOLOGY...............................................................................................
1.1 DESK RESEARCH...............................................................................................................
1.2 PRIMARY RESEARCH.......................................................................................................
1.3 ANALYSIS AND OUTPUT..................................................................................................
1.4 FINAL OUTPUT FROM DESK AND PRIMARY RESEARCH ..........................................
2 ECOSYSTEM OVERVIEW.....................................................................................................
3 TECHNOLOGICAL TRENDS IN POLYSILICON MARKET.................................................
4 DEMAND AND SUPPLY MATRIX........................................................................................
4.1 INTRODUCTION .............................................................................................................
4.2 DEMAND SIDE ANALYSIS...............................................................................................
4.2.1 POLYSILICON: MARKET DRIVERS.............................................................................
4.2.2 POLYSILICON: MARKET RESTRAINTS......................................................................
4.2.3 POLYSILICON: MARKET OPPORTUNITIES...............................................................
4.2.4 POLYSILICON: MARKET CHALLENGES....................................................................
4.3 SUPPLY SIDE ANALYSIS..................................................................................................
4.3.1 FUTURE SCENARIO (CAGR% VS. COUNTRY)............................................................
4.3.2 MAPPING KEY POLYSILICON MANUFACTURERS...................................................
4.3.3 PORTER’S FIVE FORCES ANALYSIS...........................................................................
4.3.3.1 Threat of new entrants.................................................................................................
4.3.3.2 Threat of substitutes....................................................................................................
4.3.3.3 Bargaining power of buyers.........................................................................................
4.3.3.4 Bargaining power of suppliers.....................................................................................
4.3.3.5 Intensity of competitive rivalry....................................................................................
4.3.4 POLYSILICON MARKET: TREND ANALYSIS..............................................................
4.4 RAW MATERIAL TREND..................................................................................................
4.5 PESTLE ANALYSIS.............................................................................................................
4.6 IMPACT ANALYSIS............................................................................................................
4.7 PATENT LISTING ..............................................................................................................
4.8 BEHAVIOURAL ANALYSIS...............................................................................................
4.8.1 KEY MACRO INDICATORS............................................................................................
4.8.2 KEY MICRO INDICATORS.............................................................................................
5 REGULATORY FRAMEWORK...............................................................................................
6 TECHNOLOGY LANDSCAPE.................................................................................................
7 POLYSILICON MARKET, BY APPLICATION........................................................................
7.1 INTRODUCTION ..............................................................................................................
7.2 PHOTOVOLTAIC ...............................................................................................................
7.3 ELECTRONICS ................................................................................................................
8 POLYSILICON MARKET, BY REGION..................................................................................
8.1 INTRODUCTION
8.2 NORTH AMERICA
8.2.1 BY APPLICATION...........................................................................................................
8.2.2 BY COUNTRY..................................................................................................................
8.2.2.1 U.S. ...........................................................................................................
8.2.2.1.1 By application............................................................................................................
8.2.2.2 CANADA ..........................................................................................................
8.2.2.2.1 By application...........................................................................................................
8.2.2.3 MEXICO ..........................................................................................................
8.2.2.3.1 By application...........................................................................................................
8.3 EUROPE
8.3.1 BY APPLICATION............................................................................................................
8.3.2 BY COUNTRY..................................................................................................................
8.3.2.1 GERMANY ..........................................................................................................
8.3.2.1.1 By application............................................................................................................
8.3.2.2 FRANCE ..........................................................................................................
8.3.2.2.1 By application...........................................................................................................
8.3.2.3 UK ...........................................................................................................
8.3.2.3.1 By application............................................................................................................
8.3.2.4 ITALY ..........................................................................................................
8.3.2.4.1 By application...........................................................................................................
8.4 ASIA PACIFIC
8.4.1 BY APPLICATION...........................................................................................................
8.4.2 BY COUNTRY.................................................................................................................
8.4.2.1 CHINA .........................................................................................................
8.4.2.1.1 By application...........................................................................................................
8.4.2.2 INDIA .........................................................................................................
8.4.2.2.1 By application...........................................................................................................
8.4.2.3 JAPAN ..........................................................................................................
8.4.2.3.1 By application...........................................................................................................
8.4.2.4 SOUTH KOREA .........................................................................................................
8.4.2.4.1 By application...........................................................................................................
8.4.2.5 AUSTRALIA .........................................................................................................
8.4.2.5.1 By application...........................................................................................................
8.4.2.6 PAKISTAN ..........................................................................................................
8.4.2.6.1 By application...........................................................................................................
8.5 CENTRAL & SOUTH AMERICA........................................................................................
8.5.1 BY APPLICATION...........................................................................................................
8.5.2 BY COUNTRY..................................................................................................................
8.5.2.1 HONDURAS .........................................................................................................
8.5.2.1.1 By application...........................................................................................................
8.5.2.2 CHILE .........................................................................................................
8.5.2.2.1 By application...........................................................................................................
8.6 MIDDLE EAST & AFRICA.................................................................................................
8.6.1 BY APPLICATION...........................................................................................................
8.6.2 BY COUNTRY.................................................................................................................
8.6.2.1 SAUDI ARABIA .........................................................................................................
8.6.2.1.1 By application...........................................................................................................
8.6.2.2 U.A.E ..........................................................................................................
8.6.2.2.1 By application...........................................................................................................
9 GLOBAL POLYSILICON MARKET: END-USER LANDSCAPE (CONSUMER PROFILE)
9.1 INTRODUCTION ..............................................................................................................
9.2 NORTH AMERICA ............................................................................................................
9.3 EUROPE ...............................................................................................................
9.4 ASIA-PACIFIC ..............................................................................................................
9.5 MIDDLE EAST & AFRICA......................................................................................................
9.6 CENTRAL & SOUTH AMERICA..................................................................................................
10 VENDOR LANDSCAPE (SUPPLIERS/MANUFACTURERS/DISTRIBUTORS)....................
10.1 NORTH AMERICA................................................................................................................
10.2 EUROPE .................................................................................................................
10.3 ASIA-PACIFIC .................................................................................................................
10.4 REST OF THE WORLD.........................................................................................................
11 COMPANY PROFILE.................................................................................................................
11.1 Wacker Chemie AG.................................................................................................................
11.1.1 BUSINESS DESCRIPTION................................................................................................
11.1.2 FINANCIAL PERFORMANCE........................................................................................................
11.1.3 SWOT ANALYSIS..............................................................................................................
11.1.4 PRODUCTS AND SERVICES OFFERED..........................................................................
11.1.5 STRATEGIC INITIATIVES.............................................................................................................
11.2 Hemlock Semiconductor Group............................................................................................
11.2.1 BUSINESS DESCRIPTION................................................................................................
11.2.2 FINANCIAL PERFORMANCE........................................................................................................
11.2.3 SWOT ANALYSIS...............................................................................................................
11.2.4 PRODUCTS AND SERVICES OFFERED..........................................................................
11.2.5 STRATEGIC INITIATIVES............................................................................................................
11.3 TBEA Co., Ltd. ...................................................................................................................
11.3.1 BUSINESS DESCRIPTION................................................................................................
11.3.2 FINANCIAL PERFORMANCE.......................................................................................................
11.3.3 SWOT ANALYSIS..............................................................................................................
11.3.4 PRODUCTS AND SERVICES OFFERED..........................................................................
11.3.5 STRATEGIC INITIATIVES.............................................................................................................
11.4 OCI Company Ltd...................................................................................................................
11.4.1 BUSINESS DESCRIPTION................................................................................................
11.4.2 FINANCIAL PERFORMANCE.......................................................................................................
11.4.3 SWOT ANALYSIS..............................................................................................................
11.4.4 PRODUCTS AND SERVICES OFFERED.........................................................................
11.4.5 STRATEGIC INITIATIVES............................................................................................................
11.5 REC Silicon ASA.....................................................................................................................
11.5.1 BUSINESS DESCRIPTION................................................................................................
11.5.2 FINANCIAL PERFORMANCE.......................................................................................................
11.5.3 SWOT ANALYSIS..............................................................................................................
11.5.4 PRODUCTS AND SERVICES OFFERED.........................................................................
11.5.5 STRATEGIC INITIATIVES.............................................................................................................
11.6 Qatar Solar Technologies........................................................................................................
11.6.1 BUSINESS DESCRIPTION...............................................................................................
11.6.2 FINANCIAL PERFORMANCE.......................................................................................................
11.6.3 SWOT ANALYSIS..............................................................................................................
11.6.4 PRODUCTS AND SERVICES OFFERED.........................................................................
11.6.5 STRATEGIC INITIATIVES............................................................................................................
11.7 GCL - Poly Energy Holding Ltd..............................................................................................
11.7.1 BUSINESS DESCRIPTION................................................................................................
11.7.2 FINANCIAL PERFORMANCE........................................................................................................
11.7.3 SWOT ANALYSIS..............................................................................................................
11.7.4 PRODUCTS AND SERVICES OFFERED..........................................................................
11.7.5 STRATEGIC INITIATIVES.............................................................................................................
11.8 Osaka Titanium Technologies Co. Ltd...................................................................................
11.8.1 BUSINESS DESCRIPTION................................................................................................
11.8.2 FINANCIAL PERFORMANCE........................................................................................................
11.8.3 SWOT ANALYSIS..............................................................................................................
11.8.4 PRODUCTS AND SERVICES OFFERED..........................................................................
11.8.5 STRATEGIC INITIATIVES.............................................................................................................
11.9 Beijing Lier High-temperature Materials Co. Ltd..................................................................
11.9.1 BUSINESS DESCRIPTION................................................................................................
11.9.2 FINANCIAL PERFORMANCE........................................................................................................
11.9.3 SWOT ANALYSIS..............................................................................................................
11.9.4 PRODUCTS AND SERVICES OFFERED..........................................................................
11.9.5 STRATEGIC INITIATIVES.............................................................................................................
11.10 LDK Solar Co. Ltd....................................................................................................................
11.10.1 BUSINESS DESCRIPTION.................................................................................................
11.10.2 FINANCIAL PERFORMANCE.........................................................................................................
11.10.3 SWOT ANALYSIS...............................................................................................................
11.10.4 PRODUCTS AND SERVICES OFFERED...........................................................................
11.10.5 STRATEGIC INITIATIVES..............................................................................................................
11.11 Hankook Silicon Co. Ltd..........................................................................................................
11.11.1 BUSINESS DESCRIPTION.................................................................................................
11.11.2 FINANCIAL PERFORMANCE.........................................................................................................
11.11.3 SWOT ANALYSIS................................................................................................................
11.11.4 PRODUCTS AND SERVICES OFFERED...........................................................................
11.11.5 STRATEGIC INITIATIVES..............................................................................................................
11.12 Mitsubishi Polycrystalline Silicon America Corporation.......................................................
11.12.1 BUSINESS DESCRIPTION.................................................................................................
11.12.2 FINANCIAL PERFORMANCE........................................................................................................
11.12.3 SWOT ANALYSIS...............................................................................................................
11.12.4 PRODUCTS AND SERVICES OFFERED...........................................................................
11.12.5 STRATEGIC INITIATIVES..............................................................................................................
11.13 DAQO New Energy..................................................................................................................
11.13.1 BUSINESS DESCRIPTION................................................................................................
11.13.2 FINANCIAL PERFORMANCE........................................................................................................
11.13.3 SWOT ANALYSIS...............................................................................................................
11.13.4 PRODUCTS AND SERVICES OFFERED...........................................................................
11.13.5 STRATEGIC INITIATIVES..............................................................................................................
11.14 SunEdison Inc. .......................................................................................................................
11.14.1 BUSINESS DESCRIPTION................................................................................................
11.14.2 FINANCIAL PERFORMANCE........................................................................................................
11.14.3 SWOT ANALYSIS...............................................................................................................
11.14.4 PRODUCTS AND SERVICES OFFERED...........................................................................
11.14.5 STRATEGIC INITIATIVES.............................................................................................................
11.15 Tokuyama Corporation...........................................................................................................
11.15.1 BUSINESS DESCRIPTION.................................................................................................
11.15.2 FINANCIAL PERFORMANCE.........................................................................................................
11.15.3 SWOT ANALYSIS................................................................................................................
11.15.4 PRODUCTS AND SERVICES OFFERED...........................................................................
11.15.5 STRATEGIC INITIATIVES.............................................................................................................
11.16 Woongiin Polysilicon Co. Ltd.................................................................................................
11.16.1 BUSINESS DESCRIPTION................................................................................................
11.16.2 FINANCIAL PERFORMANCE........................................................................................................
11.16.3 SWOT ANALYSIS...............................................................................................................
11.16.4 PRODUCTS AND SERVICES OFFERED..........................................................................
11.16.5 STRATEGIC INITIATIVES.............................................................................................................
11.17 Wafer Works Inc.....................................................................................................................
11.17.1 BUSINESS DESCRIPTION................................................................................................
11.17.2 FINANCIAL PERFORMANCE........................................................................................................
11.17.3 SWOT ANALYSIS...............................................................................................................
11.17.4 PRODUCTS AND SERVICES OFFERED..........................................................................
11.17.5 STRATEGIC INITIATIVES.............................................................................................................
The global polysilicon market analysis has been studied from the year 2015 till 2025. However, the CAGR provided in the business intelligence report is from the year 2017 to 2025. The market research methods involved three stages: Desk research, Primary survey research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the polysilicon market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough market research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, demand forecasting, market share analysis, SWOT analysis of the company’s manufacturing polysilicon, and customer analytics.
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