The Global Polysilicon Market Size Was Valued At USD 8.87 Billion In 2022 And Is Projected To Reach USD 27.07 Billion By 2030 at a CAGR Of 13.2% From 2023 To 2030. Global Polysilicon Market Reports give a Key study on the industry status of the Polysilicon Industry Manufacturer with the specific statistics, meaning, definition, SWOT Analysis, expert opinion, and recent development across the globe. The research report also covers the Market Size, Price, Sales, Revenue, Market share, Gross Margin, growth rate, and cost structure. The report aims to give an additional sample of the latest scenario, economic slowdown, and Covid-19 impact on overall Industry.
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The global COVID-19 pandemic has been unprecedented and shocking, and the demand for polysilicon has been higher than expected in all areas compared to levels before the pandemic. Our research shows that the global market grew 5.9% from 2019 to 2020.
Polysilicon, which is also called “polycrystalline silicon,” is made from silicon that is good for metalworking. It is a very pure form of silicon made up of many smaller crystals. This material is a key part of how solar cells and other electronic devices are made. It is used in the electronics industry and usually has less than one part per billion of impurities. On the other hand, solar photovoltaics use parts that aren’t as pure.
Competitive Landscape and Global Market Share Analysis:
Daqo New Energy Corp. (China), GCL Technology Holdings Co., Ltd. (China), Hemlock Semiconductor Corporation (U.S.), Mitsubishi Materials Corporation (Japan), OCI Company Limited (South Korea), Qatar Solar Technologies (Qatar), REC Silicon ASA (Norway), Tokuyama Corporation (Japan), Wacker Chemie AG (Germany), Xinte Energy Co., Ltd. (China), Others
Market Segmentation:
By Application:
- Solar Photovoltaics
- Electronics
- Others
The report on the Polysilicon market covers the following region (country) analysis:
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
Regional Insights:
In 2021, a lot of the market, or 457.4 tonnes, was sold in Asia Pacific. China was the biggest manufacturer and exporter in the world because it had a well-established silicon industry and cheap labour and coal. As part of a plan to use less fossil fuels and put out less carbon dioxide, China bought 48.2 Gigawatts of extra solar power capacity for 2020. Companies that make polycrystalline silicon are having a hard time because of the photovoltaic business. China is home to most of these companies. Because there isn’t enough of the thing, the prices have gone up by 40%. Even though new factories are being built to meet rising demand, prices are expected to stay high for the next few years. High prices have hurt the solar industry, and manufacturers have had to cut the number of photovoltaic modules they can make. Other countries in the region have started to invest in their own production facilities to protect their growing photovoltaic and electronics industries from possible shortages. For example, Indian public sector companies like NTPC and BHEL have said they want to build a facility to make polycrystalline silicon with a capacity of about 10 Gigawatts to reduce their dependence on China. The solar photovoltaic industry is expected to grow because many countries in the area are likely to use renewable energy sources like solar energy to meet their energy needs. Polycrystalline silicon is an important part of solar photovoltaic modules, and its demand is expected to rise, which will help the market grow in the South East Asia Pacific region.
The North American polysilicon market share is likely to grow because the solar photovoltaic industry is making more and more things that use polysilicon. In recent years, a lot more homes and businesses in the U.S. have added solar panels. This is because solar panels are getting cheaper, the government is giving people money to use them, and people want to reduce their carbon footprint. According to a study by the Solar Energy Industries Association and Wood Mackenzie, the U.S. solar industry will add a record 19.2 Gigawatts of new capacity in 2020. This is a 43% rise from the year before. The study also says that by 2030, there will be four times as many solar installations as there are now. During the time frame of the forecast, the solar power industry in the region is expected to grow, which will help the market grow and drive its growth.
The European Commission has set legally binding goals to reduce net carbon emissions by 55% by 2030 compared to what they were in 1990 and to get rid of them completely by 2050. One thing the EU is doing to reach these goals is to use more energy that comes from natural sources. By 2030, the goal is for 40% of all energy to come from renewable sources. SolarPower Europe said in a report that the solar industry in the area grew by 11% in 2020. This meant that solar photovoltaic modules could make an extra 18.7 Gigawatts of energy. Recent changes in the price of polycrystalline silicon and claims that Chinese factories use forced labour and break human rights are likely to delay solar installation projects in Europe for a short time. On the other hand, if the European Union wants to strengthen its solar power industry in the long run, it will need to take important steps like building production facilities in its own countries. The solar industry in the region is likely to drive market growth, along with the EU’s strong commitment to the switch to renewable energy.
Following are the major TOC of the Polysilicon Market:
Chapter 1: Polysilicon Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Global Polysilicon Market Competition by Manufacturers
Chapter 4: Global Production, Profits (Value) by Region
Chapter 5: Global Supply (Production), Import, Export, Consumption, by Regions
Chapter 6: Global Price Trend by Type, Revenue (Value), Production
Chapter 7: Manufacturing Cost Analysis
Chapter 8: Global Market Analysis by Application
Chapter 9: Industrial Chain and Downstream Buyers, Sourcing Strategy
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Global Polysilicon Market Forecast
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Key Reasons to Purchase Polysilicon Market report:
The report provides a thorough examination of the manufacturing methods, as well as ideas to reduce development risk, major market growth challenges and strategic inputs to overcome the market threats.
In-depth market analysis and an overview of the global Polysilicon Market trend and commercial landscape are included in the report. In addition, the report discusses the effect of COVID-19 on the market.
Reader can acquire a better interpretation of the Polysilicon Market forecast’s future view and opportunities from the report.
The report contains an analysis of recent developments as well as profiles of important market leaders and key players.
To gain an understanding of the market strategies by the leading market players in the Polysilicon
The report analyses the most important driving and restraining factors in the industry, as well as their impact on global market growth.
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