Industry Survey, Growth, Competitive Landscape
and Forecasts to 2027
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Polysilicon is a high-grade polycrystalline form of silicon with semiconductor-like material properties. It is mainly used as a raw material in the
solar power generation and electronics industries. Considering its semiconductor properties, polysilicon is used to make photovoltaic (PV) panels.
It also finds application in electronic gates, integrated circuits, resistors, and conductors, among others. There are three processes for
manufacturing polysilicon—the Siemens process, fluidized bed reactor (FBR) process, and upgraded metallurgical-grade silicon process. The FBR
process is an emerging technology; it is a low-cost alternative to the Siemens process.
The rapid increase in the number of solar PV installations and the rising demand for electronic devices across the globe is likely to drive the
growth of the polysilicon market in the coming years. Also, government subsidies are making the use of solar appliances affordable in urban as
well as semi-urban areas, which is expected to boost the demand for polysilicon during the forecast period. Moreover, the use of electronic-
grade polysilicon in the manufacturing of electronic circuits and power conversion devices, among others is projected to drive market growth
during the review period. In addition, the growing population, improved living standards, and urbanization are leading to an increased demand
for power, offering lucrative opportunities to players in the polysilicon market.
The key players operating in this market are adopting various business strategies such as product launches, joint ventures, and agreements to
gain significant market shares. However, the high capital investments required to set up polysilicon production plants are likely to hinder market
growth during the forecast period.