Polysilicon Market Analysis:
Polysilicon, also known as multicrystalline silicon, is the polycrystalline form of silicon of high purity. Polysilicon is manufactured from metallurgical grade silicon through Siemens process or by using a fluidized bed reactor (FBR). In the Siemens process, volatile silicon compounds are distilled and then decomposed at higher temperature. Moreover, polysilicon is extensively used in photovoltaic cell and electronics industries.
COVID-19 scenario analysis:
- The economic slowdown, which followed the pandemic, caused a decline in disposable income among consumers. This resulted in a steep decrease in the demand for electrical appliances, thereby witnessing significant decrease in demand for polysilicon.
- Nationwide lockdowns had severe impacts on the manufacturing operations and the logistics of several companies. This caused a delay in production and distribution of finished products into the market.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The rapid growth of the electronics industry and increase in usage of solar energy have led to the growth of the polysilicon market. Rise in concerns about the depletion of conventional sources of energy and sustainability of the environment have led manufacturers to explore other options of renewable sources of energies, such as solar energy, in various business sectors. Solar panels are used in power grids and commercial & residential buildings for an alternative source of electricity along with various electrical appliances. A major portion of polysilicon is utilized in the production of photovoltaic cell, for example, as nearly as 5 tons of polysilicon is required to produce 1 MW of electricity. Therefore, increase in use of polysilicon in the solar industry is expected to drive the growth of the market.
Moreover, polysilicon is extensively used in the electronics and semiconductor industries. Highly pure polysilicon is the primary raw material used in the production of electrical circuits and microchips, which are essential to manufacture modern electrical devices such as smartphones, laptops, computers, and others. The electrical & electronics industry is growing at a rapid pace and is expected to escalate the demand for polysilicon. However, the fluctuating price of polysilicon in the recent past has acted as a restraining factor for the polysilicon market. In addition, increase in investments toward the adoption of solar energy in different industries and the rapid developments in the electronics industry have led to the growth of the polysilicon market.
Asia-Pacific holds the largest share of the polysilicon market, owing to the huge demand for polysilicon from the electronics and semiconductor industries in India, China, Japan, and South Korea. The North America polysilicon market is also anticipated to grow at a significant pace with increasing applications of photovoltaic cells and the growing electronics market in countries such as the U.S.
Key benefits of the report:
- This study presents the analytical depiction of the polysilicon market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the polysilicon market share.
- The current market is quantitatively analyzed to highlight the polysilicon market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the polysilicon market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Polysilicon Market Report Highlights
| Aspects | Details |
 By Production Process |
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 By Application |
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 By Region |
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 Key Market Players | Woongjin Polysilicon Co. Ltd., GCL-Poly Energy Holdings Limited, REC Silicon ASA, OCI Company Ltd., Hemlock Semiconductor Corp., SunEdison, Inc., Activ Solar GmbH, Tokuyama Corporation, Daqo New Energy Corp., Wacker Chemie AG |
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