Polycrystalline Silicon Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018–2026
Polycrystalline silicon is a highly purified and crystalline form of silicon that is mainly manufactured by chemical purification process from metallurgical grade silicon. Distillation of volatile silicon compounds and their decomposition into silicon at high temperatures is the key function of the process. Due to advancement of technology, newer and improved processes are being developed as an alternative to this method which is called as fluidized bed reactor. The key challenge in manufacturing polycrystalline silicon is to improve the efficiency and effectiveness of the resource consumption in the application by reducing the use of materials, improved cell concept, and advancements in manufacturing the product application. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/375 ​ olycrystlline silicon is majorly used in manufacturing solar cells and significantly P used in manufacturing integrated circuits and other semiconductor devices. According to European Photovoltaic Association, the global photovoltaic capacity installed annually 50.6 Gegawatts with an annual growth of 25% in 2015. The high growth global market for the photovoltaic is fueling the market for polycrystalline silicon as they provide highest energy conversion efficiency of about 25%. Polycrystalline silicon plays a key role in the solar photovoltaic cells market. Prevalent Scenario in Polycrystalline Silicon Market The rapid growth of solar photovoltaic industry and high growth electronics industry are the main drivers for the polycrystalline market. The recent past has witnessed rapid growth in consumer inclination towards renewable energy sources such as solar. Also, the government policies for reducing carbon footprints, United Nations Conference on Climate change, and increasing awareness about the green energy concept is augmenting demand for polycrystalline silicon into manufacturing of solar panels. According to the International Energy Agency (IEA), the global PV sector is projected to grow at a rate of 25% annually. Moreover, polycrystalline silicon represents 80 to 90% of the global PV market. The key manufacturers are investing into research and development to offer a range of products with significant increase in its performance and at low costs. They are increasingly focusing on expanding