Polycrystalline Silicon Market Segmentation, Opportunities, Trends & Future Scope to 2025 “The reason behind the worldwide growth of solar PV installation is the increase in consumers’ awareness and government initiatives for sustainable energy. China, Japan, and U.S. together make up two thirds of the global solar PV market.”
Polycrystalline silicon is also known as “polysilicon” or “poly-Si”. Basically, it is a high purity, polycrystalline form of silicon used as a raw data by the solar photovoltaic and electronics industry. It is manufactured from metallurgical grade silicon with a help of a chemical purification process called as “Siemens process”. The procedure involves distillation of volatile silicon compounds, and further they are being decomposed into silicon at high temperatures. The reason behind the worldwide growth of solar PV installation is the increase in consumers’ awareness and government initiatives for sustainable energy. China, Japan, and U.S. together make up two thirds of the global solar PV market. Polysilicon is considered to be the building block of more than 90% of the photovoltaic solar panels globally. As a result, the growth of the solar PV industry is driving the demand for polysilicon market share. Besides, polysilicon is utilized for manufacturing electronic chips as a chief raw material. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/polycrystalline-silicon-polysilicon-market
Thus, the growing demand for semiconductors in data processing and communication devices like tablets and smartphones is, in turn, increasing the demand for polysilicon. So, it clearly suggests that the polysilicon market is driven by the escalating growth of its major end-use industries, which include solar PV and electronics. The factors that discourages the market share is the huge capital expenditure that is required for establishing polysilicon production plants and that gives rise to high entry barriers for the smaller participants. In China, the declining prices and anti-dumping policies are the major challenges that the polysilicon manufacturers have to face.