Polycrystalline Silicon Market

Polycrystalline Silicon Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis, 2018–2026
Polycrystalline silicon Market Overview
Polycrystalline silicon is a highly purified and crystalline form of silicon that is
mainly manufactured by chemical purification process from metallurgical grade
silicon. Distillation of volatile silicon compounds and their decomposition into
silicon at high temperatures is the key function of the process. Due to
advancement of technology, newer and improved processes are being developed
as an alternative to this method which is called as fluidized bed reactor. The key
challenge in manufacturing polycrystalline silicon is to improve the efficiency
and effectiveness of the resource consumption in the application by reducing the
use of materials, improved cell concept, and advancements in manufacturing the
product application. Polycrystlline silicon is majorly used in manufacturing
solar cells and significantly used in manufacturing integrated circuits and other
semiconductor devices. According to European Photovoltaic Association, the
global photovoltaic capacity installed annually 50.6 Gegawatts with an annual
growth of 25% in 2015. The high growth global market for the photovoltaic is
fueling the market for polycrystalline silicon as they provide highest energy
conversion efficiency of about 25%. Polycrystalline silicon plays a key role in
the solar photovoltaic cells market.
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Prevalent Scenario in Polycrystalline Silicon Market
The rapid growth of solar photovoltaic industry and high growth electronics
industry are the main drivers for the polycrystalline market. The recent past has
witnessed rapid growth in consumer inclination towards renewable energy
sources such as solar. Also, the government policies for reducing carbon
footprints, United Nations Conference on Climate change, and increasing
awareness about the green energy concept is augmenting demand for
polycrystalline silicon into manufacturing of solar panels. According to the
International Energy Agency (IEA), the global PV sector is projected to grow at
a rate of 25% annually. Moreover, polycrystalline silicon represents 80 to 90%
of the global PV market.
The global polycrystalline silicon market is highly fragmented due to the
presence of many established and local players across the world. Major players
involved in the market include GCL-Poly Energy Holdings Limited (Hong
Kong), Wacker Chemie AG (Germany), OCI Company Ltd. (South Korea),
REC Silicon ASA (Norway), Tokuyama Corporation (Japan), Daqo New
Energy Corp. (China), Hemlock Semiconductor Corporation (U.S.), SunEdison,
Inc. (U.S.), Woongjin Polysilicon Co. Ltd. (Korea), and Active Solar
Energietechnik GmbH (Austria).
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Polycrystalline Silicon Market report categorizes global market form, purity and application - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025