Trichlorosilane Market size to exceed $9.5bn by 2028

Global Trichlorosilane Market size is set to surpass USD 9.5 billion by 2028, according to a new research report by Global Market Insights Inc.
 

Growing consumer demand for solar energy and increasing investment by manufacturers to develop technologically advanced solar photovoltaic cells with an improved efficiency will propel the market expansion. Moreover, growing urbanization, increasing spending capacity of the population and growing consumer desire for self-possessed cars should raise the demand for adhesives from the automotive industry.
 

Direct chlorination segment was valued at over USD 1.5 Billion in 2021 and is projected to grow at a CAGR of 10% during the forecast period. This is attributed to the widespread usage of Siemen’s process for manufacturing solar grade silicones, whose end product is a mixture of chlorosilanes containing majority proportion of trichlorosilane. Relatively low cost of production associated with the direct chlorination process will drive the trichlorosilane market growth.
 

China was the leading manufacturer of solar photovoltaic modules globally in 2020, with a market share of nearly 69.8%. Numerous factors, such as procurement of key equipment including chlorination & chemical vapor deposition reactors from domestic suppliers rather than from international manufacturers, subsidized capital expenditures, and low raw material, labor & electricity costs, have increased reliance of Chinese manufacturers on the Siemen’s process. Increasing adoption of direct chlorination process for production of trichlorosilane will boost the business landscape.
 

Browse key industry insights spread across 135 pages with 115 market data tables and 20 figures & charts from the report, “Trichlorosilane Market Analysis By Production Process (Hydrochlorination, Direct Chlorination), Application (Silane Coupling Agent, Polycrystalline Silicon), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/trichlorosilane-market
 

Trichlorosilane market from polycrystalline silicon segment is anticipated to reach USD 3 Billion by 2028, growing at a CAGR of 11.1% over the forecasted timeframe. This is owing to growing demand for renewable sources of energy such as solar energy and increasing number of photovoltaic installations across the world.
 

Moreover, growing consumer awareness regarding the undesirable effects of increased carbon dioxide emissions due to use of conventional fuels such as coal, oil & natural gas, among others is expected to further raise the product demand from polycrystalline silicon application. Furthermore, supportive government policies in the form of grants and tax credits in different regions of the world should encourage the use of solar energy, in turn driving the market demand.
 

Europe trichlorosilane market is poised to surpass USD 1 Billion by 2028 growing at a CAGR of 10.5%. This is attributed to the increasing industrialization in different countries of Europe such as Germany, UK, Italy and France, among others. Growing industrialization is raising the demand for silane coupling agents as adhesives from different end-use industries such as automotive, packaging, energy, and chemical manufacturing, among others, in turn promoting regional market forecasts.
 

Besides, growing demand for silane coupling agents from the paint & coating application coupled with growing urbanization & increasing construction activities being undertaken in Europe is likely to raise the product demand from manufacturing silane coupling agents, boosting the business outlook.
 

Rising demand for silane coupling agents for modifying phenolic resins for use in grinders and molding should foster market revenue. Additionally, rising demand for surface modified epoxy resins for use in electronic micro components should raise the demand for silane coupling agents from electronics application, in turn boosting the demand for trichlorosilane.
 

Some of the prominent market players in the trichlorosilane industry include Evonik Industries, American Elements, SIAD Spa, Gelesa Inc., and Mitsubishi Polycrystalline Silicon America Corporation.