Published Date: July 2024
Polysilicon is produced by extraction of raw silicon from quartz rock. Polysilicon is also made from metallurgical grade silicon by a chemical process called the Siemens process, which involves distilling volatile silicon compounds.Growing demand from the semiconductors and electronics industries has provided lucrative opportunities for market growth. The rising popularity of solar energy generation has further driven the market growth. Growing concern towards renewable energy sources is anticipated to increase the demand for Polysilicon market growth in coming years. Polysilicon Market was valued at US$ 6.9 Billion in 2024 and is projected to grow at a CAGR of 16.20% to reach US$ 105.6 Billion by 2034.
The report “Polysilicon Market, By End-User Industry (Electronics, Solar PV (Multi-crystalline Solar Panel and Mono-crystalline Solar Panel), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”
Key Highlights:
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In August 2021, Wacker signed an agreement of polysilicon supply to JinkoSolar for five years. According to agreement JinkoSolar will purchase around 70,000 tons of polysilicon from Wacker.
Analyst View:
Rapid growth in industrialization and expansion of solar energy industries has provided lucrative opportunities for market growth. The growing electronics industry has enhanced market growth. Growing environmental concern in reducing carbon footprint is further expected to boost the demand for Polysilicon market growth over the forecast period.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on Polysilicon Market, By End-User Industry (Electronics, Solar PV (Multi-crystalline Solar Panel and Mono-crystalline Solar Panel), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”
Key Market Insights from the report:
Polysilicon Market was valued at USD 26.9 Billion in 2024 and is projected to grow at a CAGR of 16.20% to reach USD 105.6 Billion by 2034.The Polysilicon Market is segmented based on End-User Industry and Region.
- Based on End-User Industry, Polysilicon Market is segmented into Electronics, Solar PV (Multi-crystalline Solar Panel and Mono-crystalline Solar Panel).
- By Region, the Polysilicon Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Polysilicon Market:
The prominent players operating in the Polysilicon Market includes, OCI Company Ltd., REC Silicon ASA, Wacker Chemie AG, Mitsubishi Materials Corporation, CSG Holdings Co. Ltd., TBEA Co. Ltd., Qatar Solar Technologies, Hanwha Chemicals Co. Ltd., Hemlock Semiconductor Corporation, Asia Silicon and others.
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