Published On : 05 Oct 2018
Polysilicon, the second most abundant element on earth, is a hyper pure silicon form which forms the chief feedstock material for electronic chips and a number of solar energy applications owing to its semiconductor characteristics. The global market for electronic grade polysilicon is evolving at a fast pace and is highly driven by the rapid expansion of the semiconductor industry and the rising demand for crystalline silicon wafers across a number of electronics devices and products.
The market is expected to continue to expand at a notable pace in the next few years, influenced by the following factors:
Thriving Global Electronics Sector to Continue to Drive Market
One of the key factors expected to work in favor of the global electronic grade polysilicon market is the thriving market for electronics across the globe. Increased digitization of the enterprise sector, rising preference to automation across a number of industries, and the rising adoption of smart and technologically advanced electronics devices by casual users for entertainment and daily communication purposes are pushing vast developments in the electronics industry. As the demand for a variety of electronic devices, tools, and solutions catering to a large set of applications is expected to remain strong in the next few years as well, the global consumption of electronic grade polysilicon is also expected to rise, driving the global market.
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High Capital Expenditure Required to Set Up Polysilicon Production Plants Could Hamper Growth
In contrast, the market could face the challenge of the high capital expenditure required to set up polysilicon production plants. The factor is expected to hinder the growth prospects of the market to a certain degree, limiting the number of players that will want to enter the market, which could translate into a consolidated market where a large share of the market is held by a handful of players. Other key factors working against the market include the absence of anti-dumping policies associated with some renewable energy products in a number of regions and the global supply glut. Nevertheless, the rising awareness regarding the need to adopt green technologies could compel consumers to prefer products with low carbon emission quotient, thus driving the market.
Asia Pacific to Remain Most Lucrative Regional Market
From a geographical standpoint, Asia Pacific is presently the leading consumer of electronic grade polysilicon and is likely to remain so over the next few years as well. The position of the region as one of the leading manufacturer of electronic products, thanks to well-established electronics R&D and manufacturing sectors in countries such as Japan, China, India, and South Korea, is the leading factor driving this trend. Vast technological advancements in the field of electronics miniaturization and semiconductors will also drive the regional market in the near future.
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