Polysilicon Market Analysis

Polysilicon Market Analysis

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Based on type, the polysilicon market is segmented as electronic grade polysilicon, solar grade polysilicon. Electronic grade polysilicon held a majority market value of USD 6.1 billion in 2022. Electronic-Grade Polysilicon type of polysilicon is highly purified and used in the semiconductor industry for the production of integrated circuits and other electronic components.
 

Based on production method, the polysilicon market is segmented as chemical vapor deposition, silane gas phase. Chemical vapor deposition held a dominant market share of around 85% in 2022 and is expected to grow at a lucrative pace till 2032. The semiconductor industry relies heavily on CVD technology to deposit high-purity polysilicon onto wafers, which are then used to manufacture integrated circuits and other electronic components. As the demand for advanced electronics, including smartphones, computers, and IoT devices, continues to grow, so does the demand for polysilicon produced through CVD.
 

Based on application, the polysilicon market is segmented as photovoltaic solar cells {monocrystalline solar cells, multi-crystalline solar cells, thin-film solar cells} and semiconductor industry {integrated circuits, photovoltaic solar cells, light emitting diodes, others. Photovoltaic solar cells held a dominant market share in 2022 and is anticipated to grow at 13.1 % CAGR through 2032. Solar energy incentives, subsidies, and policies that encourage the adoption of solar power can significantly boost the demand for polysilicon in the manufacturing of solar panels.
 

U.S. dominated the North American region with majority polysilicon market share and a revenue of USD 0.6 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. The growing EV market in North America requires advanced power electronics and semiconductor devices, which rely on polysilicon. As EV production and adoption increase, so does the demand for high-quality polysilicon.