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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Polysilicon Market size was valued at US$ 7,823.9 million in 2023 and is poised to grow at a CAGR of 5.5% from 2024-2030. The global market provides a detailed overview and that can be segmented by form, by end-user. By form, The market has been segmented into Chunks, Granules, and Rods. The chunks segment is likely to be the largest and fastest-growing segment in terms of type. Based on end-users the market is segmented into Solar PV, Electronics. Among these, the solar PV segment is expected to have the fastest-growing market during the forecast period 2022-2028 according to Precision Business Insights.
In May 2021, REC Silicon ASA, Norway-based polysilicon and silicon gas supplier stated that it would be restarting its Lake Moses Plant in Washington in the year 2023.
Study Period
2024-2030Base Year
2023CAGR
5.5%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
According to the International Energy Agency (IEA), the global PV sector is projected to grow at a rate of 25% annually. Clean energy policy goals and tax exemption in the solar industry are expected to augment demand over the coming years. Therefore, the growing demand for photovoltaics and semiconductors is anticipated to propel growth over the forecast period
Asia Pacific market is expected to witness the highest market share during the forecast period and the demand is expected to be extremely high from countries such as China and India. This can be attributed to the rapid development of the Chinese solar industry and government backing for the industry.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 7,823.9 million |
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Market CAGR |
5.5% |
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By Form |
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By End User |
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By Region |
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The polysilicon market size was valued at US$ 7,823.9 million in 2023 and is set to grow at a significant CAGR of 5.5% from 2024-2030.
The major players in the global market are Active Solar Energietechnik GmbH, DAQO New Energy Corporation, GCL Poly Energy Holdings Limited, Hemlock Semiconductor Group (Dow Corning, Corning Inc.), LDK Solar Co. Ltd., OCI Company Ltd., REC Silicon ASA, SunEdison Inc., TBEA Co. Ltd, Tokuyama Corporation, Wacker Chemie AG, Woongjin Polysilicon Co. Ltd.
The Asia-Pacific is the fastest-growing market
| 1. Executive Summary |
| 2. Global Polysilicon Market Introduction |
| 2.1. Global Polysilicon Market Taxonomy |
| 2.2. Global Polysilicon Market Definitions |
| 2.2.1. Form |
| 2.2.2. End User Industry |
| 3. Global Polysilicon Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Polysilicon Market Dynamic Factors - Impact Analysis |
| 3.6. Global Polysilicon Market Competition Landscape |
| 4. Global Polysilicon Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Polysilicon Market, By Form, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Chunks |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Granules |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Rods |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Polysilicon Market Forecast, By End User Industry, 2019 - 2023 and Forecast, 2024 - 2030 |
| 6.1. Solar PV |
| 6.1.1. Monocrystalline Solar Panels |
| 6.1.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.1.3. Market Opportunity Analysis |
| 6.1.2. Multicrystalline Solar Panels |
| 6.1.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.2.3. Market Opportunity Analysis |
| 6.2. Electronics |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Polysilicon Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Polysilicon Market - Opportunity Analysis Index, By Form, End User Industry, and Region, 2024 - 2030 |
| 8. North America Polysilicon Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. By Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Chunks |
| 8.1.2. Granules |
| 8.1.3. Rods |
| 8.2. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Solar PV |
| 8.2.1.1. Monocrystalline Solar Panels |
| 8.2.1.2. Multicrystalline Solar Panels |
| 8.2.2. Electronics |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Polysilicon Market - Opportunity Analysis Index, By Form, End User Industry, and Country, 2024 - 2030 |
| 8.5. North America Polysilicon Market Dynamics Trends |
| 9. Europe Polysilicon Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. By Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Chunks |
| 9.1.2. Granules |
| 9.1.3. Rods |
| 9.2. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Solar PV |
| 9.2.1.1. Monocrystalline Solar Panels |
| 9.2.1.2. Multicrystalline Solar Panels |
| 9.2.2. Electronics |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Polysilicon Market - Opportunity Analysis Index, By Form, End User Industry, and Country, 2024 - 2030 |
| 9.5. Europe Polysilicon Market Dynamics Trends |
| 10. Asia-Pacific Polysilicon Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. By Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Chunks |
| 10.1.2. Granules |
| 10.1.3. Rods |
| 10.2. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Solar PV |
| 10.2.1.1. Monocrystalline Solar Panels |
| 10.2.1.2. Multicrystalline Solar Panels |
| 10.2.2. Electronics |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Polysilicon Market - Opportunity Analysis Index, By Form, End User Industry, and Country, 2024 - 2030 |
| 10.5. Asia-Pacific Polysilicon Market Dynamics Trends |
| 11. Latin America Polysilicon Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. By Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Chunks |
| 11.1.2. Granules |
| 11.1.3. Rods |
| 11.2. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Solar PV |
| 11.2.1.1. Monocrystalline Solar Panels |
| 11.2.1.2. Multicrystalline Solar Panels |
| 11.2.2. Electronics |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Polysilicon Market - Opportunity Analysis Index, By Form, End User Industry, and Country, 2024 - 2030 |
| 11.5. Latin America Polysilicon Market Dynamics Trends |
| 12. Middle East and Africa Polysilicon Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. By Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Chunks |
| 12.1.2. Granules |
| 12.1.3. Rods |
| 12.2. End User Industry Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Solar PV |
| 12.2.1.1. Monocrystalline Solar Panels |
| 12.2.1.2. Multicrystalline Solar Panels |
| 12.2.2. Electronics |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Polysilicon Market - Opportunity Analysis Index, By Form, End User Industry, and Country, 2024 - 2030 |
| 12.5. MEA Polysilicon Market Dynamics Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Active Solar Energietechnik GmbH |
| 13.2.2. DAQO New Energy Corporation |
| 13.2.3. GCL Poly Energy Holdings Limited |
| 13.2.4. Hemlock Semiconductor Group (Dow Corning, Corning Inc.) |
| 13.2.5. LDK Solar Co. Ltd. |
| 13.2.6. OCI Company Ltd. |
| 13.2.7. REC Silicon ASA |
| 13.2.8. SunEdison Inc. |
| 13.2.9. TBEA Co. Ltd |
| 13.2.10. Tokuyama Corporation |
| 13.2.11. Wacker Chemie AG |
| 13.2.12. Woongjin Polysilicon Co. Ltd. |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.