POLYSILICON MARKET ANALYSIS

Polysilicon or polycrystalline silicon is a highly pure form of silicon and is an essential material for photovoltaic (PV) and the electronics industry. It is widely used for manufacturing high-efficiency modules, ingots, wafers, cells, and solar power generation systems.

Polysilicon is manufactured in two forms — granular polysilicon and chunk polysilicon — depending on the production technology. Government initiatives such as tax exemption for the solar energy industry and renewable energy policies are major factors boosting demand for polysilicon over the forecast period. Moreover, according to an article published by Amplus Solar in Jan 2018, the government of India undertook major programs to promote solar energy generation such as Jawaharlal Nehru National Solar Mission, Solar Park Scheme, and Rooftop scheme.

Polysilicon Market Outlook

• Polysilicon is extensively used in manufacturing photovoltaic and electronics. According to BP Statistical Review of World Energy published in June 2018, new solar PV installations of 97 GW in 2017 increased global power solar generating capacities to 400GW recording the growth of 32.0% in comparison with 2016. This, in turn, is expected to increase demand for polysilicon from the photovoltaic
• Asia Pacific is projected to witness highest growth rate in the global polysilicon market over the forecast period. This is owing to increasing demand for consumer electronics and semiconductors in China and India. According to India Brand Equity Foundation’s (IBEF) report published in June 2017, Indian electronics market was valued at US$ 100.0 billion in 2016 and is expected to reach USD 400.0 billion by 2020, growing at a CAGR of 41.4% during the period.

Key Players

Key players operating in the global polysilicon market include GCL-Poly Energy Holdings Limited, Wacker Chemie AG, Daqo New Energy Corp., OCI Company Ltd., and Xinte Energy Co., Ltd. Other companies dealing in the industry include Fluor Corporation, Targray, and others.

Key Developments:

• Several government administrations are imposing anti-dumping duties on import of polysilicon in order to safeguard market shares of local players. For instance, in January 2020, China's Ministry of Commerce (MOC), announced that China will continue to impart anti-dumping duties on solar-grade polysilicon imported from the Republic of Korea & the United States.
• Various companies are focusing on adopting strategies such as partnership and collaborations in order to increase their presence in the global market. For instance, in August 2019, Daqo New Energy Corporation, had partnered with Longi Green Energy Technology to supply 112,800 Metric Tons of polysilicon over a period of three years. Longi is one of the leading players in mono silicon module manufacturing.
• In September 2019, Daqo New Energy Corporation, a global leader manufacturing high-purity polysilicon, announced a two-year agreement to supply polysilicon to JinkoSolar Holding Company Limited. JinkoSolar Holding Company Limited is one of the largest solar module manufacturers in the world.
• In May 2019, China-based polysilicon manufacturer - Daqo New Energy had announced upgrading & debottlenecking of its mono-grade polysilicon production plant in order to cater to the increasing demand of mono-grade polysilicon.
• Key players are focused on investment, and acquisition strategies in order to enhance their market share. For instance, in April 2017, OCI Company Ltd. announced the acquisition of Tokuyama’s Malaysia polysilicon production with a capacity of 20,000 MT. This acquisition helped OCI to become second largest polysilicon producer worldwide with the annual production capacity of 72,000 MT.

Polysilicon Market Taxonomy

On the basis of manufacturing technology, the global polysilicon market is segmented into:

• Siemens Process
• Fluidized Bed Reactor (FBR) Process

On the basis of application, the global polysilicon market is segmented into:

• Photovoltaic
• Electronics

On the basis of region, the global polysilicon market is segmented into:

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • Italy
  • France
  • Russia
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East
  • GCC
  • Israel
  • Rest of Middle East
• Africa
  • North Africa
  • Central Africa
  • South Africa