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Global Polysilicon market

  • 4100.00 Dollar US$
  • Published date: July 17, 2020
    • Pune, Maharashtra, India [ Ads Views - 3 ]

Global Polysilicon market was value US$ 5.7 Bn in 2017, and expected to reach US$ 14.52 Bn by 2026, at CAGR of 12.4 % during forecast period.Polysilicon also called Polycrystalline silicon, is a high purity, stable, and crystalline form of silicon. It is produced from metallurgical grade silicon by a chemical purification process, called the Siemens process. It offers properties similar to semiconductors. It is prevalently used as a raw material by the solar photovoltaic and electronics industry. The rapid increase in the number of solar photovoltaic installations and the rising demand for electronic devices across the globe is likely to drive the growth of the polysilicon market in the upcoming years. Moreover, government subsidies are making the use of solar appliances affordable in urban and semi-urban areas, which is expected to boost the demand for polysilicon during the forecast period. The use of electronic-grade polysilicon in the manufacturing of electronic circuits and power conversion devices, among others is projected to drive market growth during the forecast period. Furthermore, the increasing population, improved living standards, and urbanization are leading to an increased demand for power, offering lucrative opportunities to players in the polysilicon market. Over the past few years, operating industries have faced challenges such as plant shutdowns, anti-dumping regulations, and oversupply. But despite that, over the forecast period, the market is expected to experience a more balanced supply and demand scenario, price stability, and profitability. Asia-Pacific accounted for the largest share of the global polysilicon market in last few years. Due to due to rapid urbanization and the high demand for the product in end-use industries such as solar power generation and electronics. China is the largest producer and supplier of solar photovoltaic installations in the world. In addition South Korea, and Japan are the major electronic component producers, which is likely to boost the demand for polysilicon in the region.

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