The global polysilicon market is to reach $13 billion from $9 billion by 2027.
High-purity silicon in the form of polysilicon is a crucial raw material to produce solar cells, electronic semiconductors, and chips. In solar modules, polysilicon is used to aid in electricity production. Since polysilicon has high electrical conductivity, it is also used as a gate electrode material. The silane process is used in the production of granular polysilicon and is one of the most promising methods for polysilicon production due to its constant low temperature, simple process, and low energy consumption. Moreover, Siemen's process is used to make polysilicon rods. Renewable energy markets have grown rapidly in recent years. Due to this, manufacturers are attempting to improve the efficiency and market share of renewable energy-generating products. Hence, polysilicon is used as a feedstock in photovoltaic cells. As a result, the demand for higher efficiency and lower preparation costs has resulted in polysilicon production process innovation and development.
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How is 5G Capturing the Global Market? the introduction of 5G and constant development in new phones has led to an increase in demand for phones in emerging markets. Further growth in population and urbanization worldwide would increase the demand for cell phones. Hence, growth in cell phone manufacturing will increase the demand for semiconductors and other chips used in cell phones. Thus, this will result in increased demand for polysilicon in the market.
The future of semiconductors depends on factors such as the research with new semiconductor materials increase in the price of rare earth metals which accelerate industrial acceptance of new technologies in AI, IoT, and other related fields. Intel Corporation (US), Samsung Corporation (South Korea), NVIDIA Corporation (US), Texas Instruments Incorporated (US), and Broadcom Inc. (US) are some of the global manufacturers of semiconductors.
Growth in the semiconductor industry is boosting the demand for polysilicon.
Several players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in APAC, to gain more market share. The growth of the players depends on the competitive landscape, GDP growth, and industry development. While high capital requirements and rapid advancements in technologies are the major entry barriers for new players in polysilicon. However, the growth in cell phone manufacturing will also increase the demand for semiconductors and other chips used in cell phones. This will result in increased demand for polysilicon in the market.
The increase in EV’s adoption would influence the polysilicon market as polysilicon is used in manufacturing chips and semiconductors. These chips and semiconductors are used in electronic parts of vehicles. Hence increase in the manufacturing of EV’s would increase the demand for polysilicon in the market.
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