Polysilicon Market expected to grow strongly bym

Polysilicon Market expected to grow strongly by 2025

Global Market Insights, Inc present the report on global polysilicon
market evaluates the growth trends of the
industry through historical study and estimates future prospects based on
comprehensive research. The report extensively provides the market share,
growth, trends and forecasts for the period 2019-2025.

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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High
capital expenditure requirements for the establishment of polysilicon
production plants restricts small players into the market making it a high
entry barrier. This in turn discourages the polysilicon market growth.
Companies operating in the polysilicon market have faced various challenges
such as oversupply, anti-dumping regulations, declining prices and plant
shutdowns. However due to the significant growth, the polysilicon market is
projected to witness more profitability, price stability and balanced demand
& supply scenario.

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 reduces the
energy consumption by nearly 80%. Polysilicon is one of the essential elements
for the manufacture of solar wafers.

Asia Pacific in 2015, had occupied a major chunk of share of
the polysilicon market owing to high growth of the solar energy sector, high
GDP growth rates, technological advancements and ever-increasing demand for
consumer electronics. Some of the major producers of polysilicon are South
Korea, Japan and China. North America also held significant share which is
projected to grow at a high CAGR in the forecasted period. The Central &
South America is anticipated to grow at a phenomenal CAGR on account of major
PV installation projects over the next few years in countries such as Honduras,
Brazil and Chile.

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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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Global Market Insights, Inc.,
headquartered in Delaware, U.S., is a global market research and consulting
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reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research methodology and are
available for key industries such as chemicals, advanced materials, technology,
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