Polysilicon Market to record substantial gains by 2025

The polysilicon market is majorly driven by the growth of semiconductor and photovoltaic industries. Growing demand in the semiconductor industry further enhances the use of polysilicon in the market. Polysilicon is the major element for PV solar panels worldwide and therefore leading to a rising demand of the product. Moreover, it is also used as a chief raw material for the manufacturing of electronic chips. Hence, rising demand for communication devices and semiconductors in data processing such as smartphones and tablets are driving the polysilicon market. Also, due to the forthcoming clean energy projects in various countries, the photovoltaic segment is expected to witness exponential growth. The end user industries dominate this extremely application based market. In the solar cell applications, polysilicon is widely used as a feedstock.

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High capital expenditure requirements for the establishment of polysilicon production plants restricts small players into the market making it a high entry barrier. This in turn discourages the polysilicon market growth. Companies operating in the polysilicon market have faced various challenges such as oversupply, anti-dumping regulations, declining prices and plant shutdowns. However due to the significant growth, the polysilicon market is projected to witness more profitability, price stability and balanced demand & supply scenario.

Government of many countries has undertaken initiatives to increase the production of consumer electronics and reduce carbon footprints which has subsequently given a push to the market. Also, companies have adopted the forward integration strategies and entered into the sector of photovoltaic and semiconductor.

In the polysilicon market globally, solar PV is the fastest growing industry. Demand for PV is increasing rapidly worldwide due to consumer awareness clubbed with government incentives program. Also, the demand for PV is supported by government policies implemented to reduce the emission of carbon dioxide in countries such as Japan, China and the United States. These three countries jointly account for more than half of the solar PV market round the world.

Asia Pacific in 2015, had occupied a major chunk of share of the polysilicon market owing to high growth of the solar energy sector, high GDP growth rates, technological advancements and ever increasing demand for consumer electronics. Some of the major producers of polysilicon are South Korea, Japan and China. North America also held significant share which is projected to grow at a high CAGR in the forecasted period. The Central & South America is anticipated to grow at a phenomenal CAGR on account of major PV installation projects over the next few years in countries such as Honduras, Brazil and Chile.

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The major players operating in polysilicon market include Woongjin Polysilicon Co. Ltd., Active Solar Energietechnik GmbH, TBEA Co. Ltd, DAQO New Energy Corporation, SunEdison Inc., Hemlock Semiconductor Group, LDK Solar Co. Ltd., Tokuyama Corporation, Rec Silicon, OIC Chemical, GCL-Poly, and Wacker Chemie AG to name a few.

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