Market Overview:
Polysilicon is one of the most common materials used in making chips and semiconductors, but it is also a misunderstood substance. Many people are surprised to learn that polysilicon is a material that has a crystalline structure rather than being a sandy, waxy substance. It is often confused with quartz, due to the similarity in the crystalline structure, and is sometimes mislabeled or referred to as silica. Polysilicon is used in many different types of applications. From small electrical components used in electronic circuits to larger solid-state devices such as computer chips, polysilicon plays an important role in the way that technology is constructed and put together. Due to its inherent makeup, polysilicon is unable to be deposited directly on a substrate like other elements, as other elements can be. This means that it must undergo chip manufacturing processes in which heat is used in the process of transmittal - that is, it must be deposited onto a substrate, such as silicon wafer or ceramic substrate, before use.
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Competitive Landscape:
Major players operating in the global polysilicon market include JA Solar Holdings Co., Ltd., Panasonic Corporation, Mitsubishi Electric Corporation, Kaneka Corporation, SunPower Corporation, Trina Solar Limited, Canadian Solar Inc., Suntech Power Holdings Co., Ltd, Hemlock Semiconductor Corporation, SunEdison Inc., Daqo New Energy Corp., OCI Company Limited, Wacker Chemie AG, Tokuyama Corporation, REC Silicon ASA, GCL-Poly Energy Holdings Limited, SunEdison Inc., Renewable Energy Corporation, Nitol Solar, Limited, Elkem Holding, Inc., and JFE Holdings, Inc.
Key Market Drivers:
Increasing semiconductor manufacturing companies in the world is the main factor that is expected to drive the growth of the global polysilicon market. For instance, according to Wall Street Journal, TSMC has appeared to be one of the most important semiconductor manufacturing companies in the world and currently has a market cap of approximately US$ 550 billion. Since polysilicon is a crystalline substance, it is difficult to manipulate in the fabrication of thin-film modules for use in the solar power industry. This is especially true when it comes to the incorporation of certain polymer molecules into polysilicon vapor mixtures for use in the fabrication of thin-film modules. Another problem associated with the use of polysilicon is the fact that the material is sensitive to the temperature at which it is placed. While heat is considered to be a useful tool for improving the crystallization rate of polysilicon, applying too much heat will have the effect of shattering the crystals, rather than adding to their crystalline structure. For these reasons, many solar cell producers have gone to the extent of using other materials in the fabrication of their solar supply chain devices. Increasing product launches by key market players in the world are estimated to augment the growth of the global polysilicon market.
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Covid-19 Impact Analysis:
The demand for semiconductors reduced during the COVID-19 pandemic. For instance, according to McKinsey & Company, semiconductor's demand declined around 9%. This impacted the growth of the global polysilicon market. Moreover, several national lockdown measures and travel restrictions have also affected the market growth.
Key Takeaways:
The size of the global polysilicon market was assessed to reach around US$ 8.90 billion in 2021, increasing at a CAGR of 13%, owing to increasing requirements for semiconductors in the world. For instance, according to Semiconductor Industry Association, in 2021 the global sales of semiconductors reached around US$ 527.2 billion.
North America is expected to hold a major share of the global polysilicon market, owing to the increasing sales of semiconductors in the region. For instance, according to Semiconductor Industry Association, U.S. semiconductor companies manufacture around 52% of manufacturing in the region.
The Asia Pacific is estimated to witness high growth in the global polysilicon market, owing to the increasing presence of semiconductor companies in the region. For instance, according to Analytics India Magazine, there are currently 20 semiconductor manufacturing and design businesses in India.
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Important Features that are under Offering and Key Highlights of the Reports:
– Potential and niche segments/regions exhibiting promising growth.
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Market
– Strategies of key players and product offerings
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✤ SWOT Analysis is used to define, assess, and analyse market competition by focusing on the world's major manufacturers. The market is defined, described, and forecasted by type, application, and region.
✤ Examine the potential and advantages of the global and major regional markets, as well as the opportunities and challenges, as well as the constraints and risks.
✤ Determine whether market growth is being driven or hampered by trends and factors.
✤ Stakeholders will be able to assess market potential by identifying high-growth categories.
✤ Conduct a strategic analysis of each submarket's growth trends and contribution to the market.
✤ Competitive developments in the market include expansions, agreements, new product launches, and acquisitions.
✤ To develop a strategic profile of the major players and conduct a thorough analysis of their growth strategies.
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✔ In the next seven years, what innovative technology trends should we expect?
✔ Which sub-segment do you believe will grow the fastest over the next few years?
✔ By 2028, which region is predicted to have the largest market share?
✔ What organic and inorganic strategies are businesses employing to gain market share?
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