Polysilicon Market

Polysilicon Market - Size, Share, Outlook, and
Opportunity Analysis, 2018-2026
Polysilicon or polycrystalline silicon is a highly pure form of silicon and is an essential
material for photovoltaic (PV) and the electronics industry. It is widely used for
manufacturing high-efficiency modules, ingots, wafers, cells, and solar power
generation systems.
Polysilicon is manufactured in two forms — granular polysilicon and chunk
polysilicon — depending on the production technology. Government initiatives such
as tax exemption for the solar energy industry and renewable energy policies are
major factors boosting demand for polysilicon over the forecast period. Moreover,
according to an article published by Amplus Solar in Jan 2018, the government of
India undertook major programs to promote solar energy generation such as
Jawaharlal Nehru National Solar Mission, Solar Park Scheme, and Rooftop scheme.
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Polysilicon Market Outlook
Polysilicon is extensively used in manufacturing photovoltaic and electronics.
According to BP Statistical Review of World Energy published in June 2018, new
solar PV installations of 97 GW in 2017 increased global power solar generating
capacities to 400GW recording the growth of 32.0% in comparison with 2016. This,
in turn, is expected to increase demand for polysilicon from the photovoltaic
Asia Pacific is projected to witness highest growth rate in the global polysilicon
market over the forecast period. This is owing to increasing demand for consumer
electronics and semiconductors in China and India. According to India Brand Equity
Foundation’s (IBEF) report published in June 2017, Indian electronics market was
valued at US$ 100.0 billion in 2016 and is expected to reach USD 400.0 billion by
2020, growing at a CAGR of 41.4% during the period.

Key Players
Key players operating in the global polysilicon market include GCL-Poly Energy
Holdings Limited, Wacker Chemie AG, Daqo New Energy Corp., OCI Company Ltd.,
and Xinte Energy Co., Ltd. Other companies dealing in the industry include Fluor
Corporation, Targray, and others.
Key players are focused on investment, and acquisition strategies in order to
enhance their market share. For instance, in April 2017, OCI Company Ltd.
announced the acquisition of Tokuyama’s Malaysia polysilicon production with a
capacity of 20,000 MT. This acquisition helped OCI to become second largest
polysilicon producer worldwide with the annual production capacity of 72,000 MT.
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