Polysilicon Market – Market Overview
Increasing solar PV installation across the globe coupled with shift in trend towards renewable energy is expected to boost Global Polysilicon Market. Strong growth in demand for fabrication of solar cells and electronic semiconductors is further expected to fuel demand for poysilicon. The growth of semiconductor industry across European and Asia region is expected to remain a key factor driving market growth.
Government and regulatory bodies across the globe are promoting the installation of solar panels in order to reduce dependency on depleting energy sources. Additionally, rising general awareness regarding the benefits of renewable energy is set to further uplift market growth over the forecast period. It is further used as a primary material for manufacturing electronic chips. Prolific growth in demand for semiconductors and communication devices in data processing such as mobile phones, tablets and phablets have further triggered overall industry growth over the last five years.
Brisk rise in the number of solar PV installations in the U.S. and Canada is anticipated to positively influence polysilicon demand over the forecast period. Low-carbon energy consumption resources such as biomass, geothermal and solar energy are gaining wide popularity due to rising general awareness. In 2016, total renewable energy consumption in North America summed up to 140 GW (gigawatts). The solar energy capacity has doubled in North America within a frame of 2 years. Crystalline silicon PV cells are extensively utilized in various typed of panels present in the market and represents around 90% of the world total PV cell production.
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Key industry participants deploy different technologies for polysilicon production depending on specific application requirements. Two of the most popular technologies used for production are the siemens process and fluidized bed reactor (FBR). The FBR process allows SG-Si production at relatively low cost and the energy consumption is also significantly less.
Asia Pacific was the leading regional market and is anticipated to witness above average growth rate over the next seven years. Strong growth of solar energy sector in Japan, China, and India coupled with technological advancements is slated to remain the key driving factors for market growth. Rising demand for consumer electronics along with increasing per capita disposable income is set to bolster market growth at a brisk pace in the region. Clean energy initiatives being taken up by major environmental bodies across the region is further anticipated to uplift market growth.
Europe is expected to exhibit steady growth driven by rising demand for renewable energy along with continued investments in technology advancement. Countries including Germany, Spain, France and Italy are continuously trying to reduce their dependency on conventional sources of energy. This factor is expected to benefit the demand of polysilicon in manufacturing of solar panels.
Polysilicon Market – Competitive Analysis
The high initial investment required to setup production facilities of polysilsicon has restricted the entry for small scale players. Existing industry participants have witnessed adverse market conditions such as oversupply and anti-dumping duties. Although, rapidly growing market has suppressed the problems faced by market players and is expected to remain the same in the coming years. Companies are trying to capture market share through forward integration and product development.
Industry/ Innovation/ Related News
Sept 2017: German firm Wacker Chemie’s announced that its plant will remain out of commision for several months following an explosion. The USD 2.5 billion plant was completed in 2016 and accounted for group’s 25% of overall polysilicon production. However, this presents an opportunity for other leading market participants to capatalize upon. The explosion was caused on September 7th due to an unidentified technical glitch that led to hydrogen leakage which resulted in fire.
Sept 2016: Japanese company Tokuyama Corporation announced the sale of its Malysian unit to South Korean company OCI Company Limited. The company has plans on improving the productivity and is aiming a potential alliance in near future.
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