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.

Polysilicon Market was valued at US$ 9.5 Billion in 2024 and is projected to grow at a CAGR of 0.90% to reach US$ 17.2 Billion by 2034.

Polysilicon is a material that consists of various numbers of crystallites and is commonly used in conducting gate materials in semiconductor devices like MOSFETs. Polysilicon is made from a fluidized bed reactor process in which silicon-containing gas is inserted together with hydrogen in the bed reactor to form a fluidized bed.

Growing demand for the solar power sector has become a significant contribution to target market growth. Government initiatives to lower the cost of solar products have further facilitated market growth. Furthermore, growing consumption of electronics products is expected to fruitful the demand for Polysilicon market growth.

Growing Consumer Electronics and Solar PV Industries to Fuel Market Growth

Rapidly growing population and industries has become major contribution in Polysilicon market growth. Growing population has given rise in consumer electronics and solar PV industries which, in turn propelled the market growth. Use of polysilicon as a raw material in end-user industries such as solar PV to produce solar modules and as a foundation material in electronics industries such as in semiconductor chips, microelectronic devices and solar cells has boost the demand for Polysilicon market growth.

For instance, according to Government of India (Ministry of New and Renewable Energy), National Solar Mission has aimed to establish India as a global leader in solar systems and targeted to install 100 GW grid-connected solar power plants by 2022 and INDCs (India’s Intended Nationally Determined Contributions) has targeted to achieve around 40% of cumulative electric power to reduce emission of intensity of GDP by 33% to 35% from 2005 level by 2030.

Restrains:

However, international trade restrictions and rising import and export taxes has hampered market growth. Further, high cost related to research and development activities, deficiency in supply of raw material and stringent government regulations over industrial operations has hindered Polysilicon market growth.

Polysilicon Market is segmented based on End-User Industry and Region.

End-User Industry Insight

On the basis of Type Polysilicon Market is segmented into Electronics, Solar PV (Multi-crystalline Solar Panel and Mono-crystalline Solar Panel). Solar PV (Multi-crystalline Solar Panel and Mono-crystalline Solar Panel) is expected to dominate the target market growth due to growing demand for solar PV installation across the globe.

Regional Insights

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On region the Polysilicon Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period. Moreover, growing demand for polysilicon especially in India, Japan and China, rising use of consumer electronics, expansion of polysilicon production in China and government initiatives in promoting solar energy generation in India, is anticipated to increase demand for Polysilicon the region.

For instance, according to Government of India (Ministry of New and Renewable Energy), India stands at 4^th position in solar PV deployment across the globe as on end of 2021 year and solar tariff in India has achieved grid parity coupled with solar power installed capacity at around 61.97 GW as on 30^th November.

Report Scope:

Attribute	Details
Base year for estimation	2023
Forecast period	2023 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By End-User Industry - Electronics, Solar PV (Multi-crystalline Solar Panel and Mono-crystalline Solar Panel)
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Polysilicon Market report based on End-User Industry and Region:

Polysilicon Market, By End-User Industry:

• Electronics
• Solar PV

• Multi-crystalline Solar Panel
• Mono-crystalline Solar Panel

Polysilicon Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating 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.

Recent Development:

• In December 2022, Daqo New Energy Corp., announced that its subsidiary Inner Mongilia Daqo signed an agreement with LONGi Green Energy to supply high-purity polysilicon with total amount of 251,280 MT (metric tons) from May 2023 to December 2027.
• In May 2022, OCI Company Ltd., signed a supply deal with Hanwha Solutions at $1.2 billion for ten years from 2024 to 2034. According to these deal OCI will long-term supply Polysilicon to Hanwha to strengthen its position in Polysilicon market.

• OCI Company Ltd.*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• 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

“*” marked represents similar segmentation in other categories in the respective section

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
3. Market Preview
   • Executive Summary
   • Key Findings—Global Outlook for medical carts Strategies
     • Key Questions this Study will Answer
     • Market Snippet, By End-User Industry
     • Market Snippet, By Region
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restrains
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Polysilicon Market, By End-User Industry
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
     • Y-o-Y Growth Analysis (%), 2022 – 2032
     • Segment Trends
   • Electronics
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
   • Solar PV (Multi-crystalline Solar Panel and Mono-crystalline Solar Panel)
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
6. Polysilicon Market, By Region, 2022 – 2032, (US$ Bn)
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
     • Y-o-Y Growth Analysis (%), 2022 – 2032
     • Regional Trends
   • North America
     • Market Size and Forecast (US$ Bn), By End-User Industry, 2022 – 2032
     • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
       • U.S.
       • Canada
   • Europe
     • Market Size and Forecast (US$ Bn), By End-User Industry, 2022 – 2032
     • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
       • UK
       • France
       • Germany
       • Russia
       • Italy
       • Rest of Europe
   • Asia Pacific
     • Market Size and Forecast (US$ Bn), By End-User Industry, 2022 – 2032
     • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
       • India
       • Japan
       • South Korea
       • China
       • Rest of Asia Pacific

• • Latin America
    • Market Size and Forecast (US$ Bn), By End-User Industry, 2022 – 2032
    • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
• • • • Brazil
      • Mexico
      • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By End-User Industry, 2022 – 2032
    • Market Size and Forecast (US$ Bn), By Country, 2022 – 2032

1. • • • GCC
       • Israel
       • South Africa
       • Rest of Middle East
2. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
3. Company Profiles

• OCI Company Ltd.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• REC Silicon ASA
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Wacker Chemie AG
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Mitsubishi Materials Corporation
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• CSG Holdings Co. Ltd.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• TBEA Co. Ltd.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Qatar Solar Technologies
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Hanwha Chemicals Co. Ltd.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Hemlock Semiconductor Corporation
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Asia Silicon
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

1. The Last Word
   • Future Impact
   • About Us
   • Contact