As of 2024, the global polysilicon market was estimated to have a value of nearly **** billion U.S. dollars. It is forecast that in 2029, this value will grow to nearly ** billion U.S. dollars. Polysilicon, also known as polycrystalline silicon or poly-Si, is a polycrystalline form of the elemental metal silicon. It has a high purity and is obtained through metallurgical grade silicon using a chemical purification process.

Get the latest insights on price movement and trend analysis of Polysilicon in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

China Price: Silicon Wafer: Polysilicon data was reported at 1.650 RMB/Unit in Apr 2025. This stayed constant from the previous number of 1.650 RMB/Unit for Mar 2025. China Price: Silicon Wafer: Polysilicon data is updated monthly, averaging 2.145 RMB/Unit from May 2021 (Median) to Apr 2025, with 48 observations. The data reached an all-time high of 3.180 RMB/Unit in Oct 2022 and a record low of 1.650 RMB/Unit in Apr 2025. China Price: Silicon Wafer: Polysilicon data remains active status in CEIC and is reported by Shandong Longzhong Information Technology Co., Ltd.. The data is categorized under China Premium Database’s Energy Sector – Table CN.RBN: Photovoltaic: Price.

Recent revisions in market analysis imply an upsurge in demand for polysilicon, accounting for a worth of US$ 15,819.00 million in 2024. Sales of polysilicon are proficient at surpassing this worth and striking US$ 41,502.20 million by 2034 as these trends spur and become prevalent. This represents a strong 9.90% CAGR between 2024 and 2034.

Attributes	Details
Market Value for 2024	US$ 15,819.00 million
Market Value for 2034	US$ 41,502.20 million
Market CAGR from 2024 to 2034	9.90%

Investment Avenues in the Polysilicon Sector

Attributes	Details
Market Value for 2019	US$ 11,417.00 million
Market Value for 2023	US$ 14,514.00 million
Market CAGR from 2019 to 2023	4.90%

Category-wise Outlook

Segment	Solar Grade
Share (2024)	79.20%

Country-wise Analysis

Countries	CAGR (2024 to 2034)
United States	5.50%
Canada	6.00%

Countries	CAGR (2024 to 2034)
Spain	7.30%
France	6.90%
Italy	6.40%
Germany	4.60%
United Kingdom	3.90%

Countries	CAGR (2024 to 2034)
India	14.70%
China	11.00%
Japan	4.10%
South Korea	4.40%
Australia	3.70%

Global Polysilicon Market was valued at USD 2.30 Billion in 2024 and is anticipated to project steady growth in the forecast period with a CAGR of 3.75% through 2030.

Pages	182
Market Size	2024: USD 2.30 Billion
Forecast Market Size	2030: USD 2.88 Billion
CAGR	2025-2030: 3.75%
Fastest Growing Segment	Solar PV
Largest Market	Asia Pacific
Key Players	1. Wacker Chemie AG 2. Asia Silicon (Qinghai) Co. Ltd 3. Daqo New Energy Co. Ltd 4. Hemlock Semiconductor Operations LLC And Hemlock Semiconductor LLC 5. Mitsubishi Polycrystalline Silicon America Corporation 6. OCI Company Ltd 7. Qatar Solar Technologies 8. REC Silicon ASA 9. Sichuan Yongxiang Co. Ltd (Tongwei) 10. Tokuyama Corporation

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	13.29(USD Billion)
MARKET SIZE 2024	14.38(USD Billion)
MARKET SIZE 2032	27.0(USD Billion)
SEGMENTS COVERED	Application, Type, Purity Level, End Use, Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	increased renewable energy adoption, technological advancements in manufacturing, fluctuating raw material prices, government incentives and policies, rising demand for solar energy
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Silicor Materials, JA Solar Technology, Yangzhou Zhongneng Polysilicon Technology, Trina Solar, Canadian Solar, GCLPoly Energy Holdings, Q CELLS, REC Silicon, Longi Green Energy Technology, Tongwei Co, Solarworld AG, OCI Company, First Solar, Wacker Chemie AG, China National Chemical Corporation
MARKET FORECAST PERIOD	2025 - 2032
KEY MARKET OPPORTUNITIES	Growing demand for renewable energy, Technological advancements in polysilicon production, Expansion of solar energy infrastructure, Government incentives for solar adoption, Increasing solar capacity installations worldwide
COMPOUND ANNUAL GROWTH RATE (CAGR)	8.19% (2025 - 2032)

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	15.16(USD Billion)
MARKET SIZE 2024	16.36(USD Billion)
MARKET SIZE 2032	30.0(USD Billion)
SEGMENTS COVERED	Application ,Type ,Dopant ,Purity ,Size ,Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	Increasing demand for solar PV Government initiatives for renewable energy
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	JA Solar ,OCI Company Ltd ,Xinte Energy ,Daqo New Energy ,Wacker Chemie AG ,AVANCOSolar ,TBEA Co., Ltd. ,Hanwha Solution ,SunEdison LLC ,CSG Holding Co., Ltd ,Hemlock Semiconductor Operations LLC ,LONGi Green Energy Technology Co., Ltd. ,Shanghai Kehua Hengsheng Coking Co., Ltd ,REC Silicon ,GCLPoly Energy Holdings Ltd
MARKET FORECAST PERIOD	2025 - 2032
KEY MARKET OPPORTUNITIES	Increased adoption of polysilicon ingots in solar PV industry Rising demand for monocrystalline silicon ingots Expansion of photovoltaic power plants Technological advancements in polysilicon ingot manufacturing Growing initiatives for clean energy
COMPOUND ANNUAL GROWTH RATE (CAGR)	7.87% (2025 - 2032)

The polycrystalline silicon market is projected to be USD 11,561.6 Million in 2025, with steady growth over the forecast period expected, at a CAGR of 10.7%, resulting in a continued increasing value and estimated to reach over USD 31,951.9 Million by 2035.

Metric	Value
Market Size (2025E)	USD 11,561.6 Million
Market Value (2035F)	USD 31,951.9 Million
CAGR (2025 to 2035)	10.7%

Country-wise Insights

Country	CAGR (2025 to 2035)
United States	11.1%

Country	CAGR (2025 to 2035)
United Kingdom	10.2%

Region	CAGR (2025 to 2035)
European Union	10.5%

Country	CAGR (2025 to 2035)
Japan	10.6%

Country	CAGR (2025 to 2035)
South Korea	11.0%

Segmentation Outlook - Polycrystalline Silicon Market

By Purity Level	Market Share (2025)
6N	45.8%

By Form	Market Share (2025)
Granules	52.1%

Competitive Outlook

Company Name	Estimated Market Share (%)
Tongwei Co., Ltd.	18-20%
GCL Technology Holdings Limited	15-17%
Daqo New Energy Corp.	12-14%
Wacker Chemie AG	10-12%
Xinte Energy Co., Ltd.	8-10%
Other Companies (combined)	31-37%

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	2.58(USD Billion)
MARKET SIZE 2024	3.0(USD Billion)
MARKET SIZE 2032	10.2(USD Billion)
SEGMENTS COVERED	Grade ,Application ,End User ,Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	Increased demand for solar PV Technological advancements Growing adoption of advanced semiconductor devices Government incentives for renewable energy Expansion of semiconductor industry
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	REC Silicon ,Ferrosilicon ,Zhengzhou Silantron ,Shin Etsu Chemical ,SUMCO ,Tokuyama ,Hemlock Semiconductor ,Wacker Chemie ,JinkoSolar ,OCI ,GCL Technology Holdings ,Xinte Energy ,TBEA Sunoasis ,LDK Solar ,Daqo New Energy
MARKET FORECAST PERIOD	2025 - 2032
KEY MARKET OPPORTUNITIES	Growth in the solar energy increasing demand for semiconductors technological advancements favorable government policies and expansion in the electronics industry
COMPOUND ANNUAL GROWTH RATE (CAGR)	16.5% (2025 - 2032)

The photovoltaic grade polysilicon market is projected to be valued at $18 billion in 2024, driven by factors such as increasing consumer awareness and the rising prevalence of industry-specific trends. The market is expected to grow at a CAGR of 13%, reaching approximately $60 billion by 2034.

Product Market size is rising upward in the past few years And it is estimated that the market will grow significantly in the forecasted period

ATTRIBUTES	DETAILS
STUDY PERIOD	2017-2030
BASE YEAR	2024
FORECAST PERIOD	2025-2030
HISTORICAL PERIOD	2017-2024
UNIT	VALUE (USD MILLION)
KEY COMPANIES PROFILED	Wacker Chemie, Tokuyama Corporation, Hemlock Semiconductor, Mitsubishi, Sinosico, GCL-Poly Energy, OCI, Huanghe Hydropower, Yichang CSG, REC Silicon
SEGMENTS COVERED	By Product Type - Grade I Polysilicon, Grade II Polysilicon, Grade III Polysilicon By Application - 300mm Wafer, 200mm Wafer, Others By Sales Channels - Direct Channel, Distribution Channel By Geography - North America, Europe, Asia-Pacific, South America, Middle East and Africa

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	10.37(USD Billion)
MARKET SIZE 2024	11.37(USD Billion)
MARKET SIZE 2032	23.6(USD Billion)
SEGMENTS COVERED	Grade ,Application ,Production Process ,End User ,Purity Level ,Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	1 Increasing demand for highefficiency solar cells 2 Government incentives for renewable energy production 3 Technological advancements in polysilicon production 4 Rising adoption of electric vehicles 5 Growing demand for semiconductors
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Hemlock Semiconductor ,EnSil ,Hoshine Silicon Industry ,ShinEtsu Chemical ,Dongfang Silicon ,OCI ,Daqo New Energy ,GCLPoly ,REC Silicon ,Tokuyama ,Shuangliang Silicon Material ,Asia Silicon ,Wacker Chemie ,TBEA SunOasis
MARKET FORECAST PERIOD	2025 - 2032
KEY MARKET OPPORTUNITIES	Growing demand for solar cell production Increasing investment in renewable energy Technological advancements in semiconductor manufacturing Expansion of the electric vehicle market Rising focus on environmental sustainability
COMPOUND ANNUAL GROWTH RATE (CAGR)	9.56% (2025 - 2032)

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	8.14(USD Billion)
MARKET SIZE 2024	8.68(USD Billion)
MARKET SIZE 2032	14.5(USD Billion)
SEGMENTS COVERED	Purity ,Application ,Crystal Structure ,Diameter ,Doping Type ,Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	1 Rising demand for solar panels 2 Technological advancements 3 Increasing investment in RampD 4 Growing environmental concerns 5 Government incentives and policies
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	GCLPOLY ,Hanwha Solutions ,China Resources Microelectronics Technology Co., Ltd ,REC Silicon ,HEM Co., Ltd ,Tongwei Solar ,LONGi Green Energy Technology ,Wacker Chemie ,SK Siltron ,Daqo New Energy ,UMG ,OCI ,Saudi Arabian Mining Company (Ma'aden) ,ShinEtsu Chemical Co., Ltd ,Xinte Energy
MARKET FORECAST PERIOD	2025 - 2032
KEY MARKET OPPORTUNITIES	Increased demand for solar panels Growing adoption of electric vehicles Government incentives for renewable energy Technological advancements Expansion of manufacturing capacity
COMPOUND ANNUAL GROWTH RATE (CAGR)	6.62% (2025 - 2032)

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	12.88(USD Billion)
MARKET SIZE 2024	14.43(USD Billion)
MARKET SIZE 2032	35.6(USD Billion)
SEGMENTS COVERED	Application ,Technology ,Purity Level ,Production Capacity ,End User ,Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	Growing demand for solar energy Rising concerns about climate change and increasing demand for renewable energy sources are driving the demand for photovoltaic grade polysilicon Technological advancements Improvements in production processes and efficiency of polysilicon cells are enhancing the overall performance and affordability of solar energy systems Government incentives Favorable government policies such as subsidies and tax credits are encouraging the adoption of solar energy and driving the demand for polysilicon Supply chain disruptions Geopolitical uncertainties and natural disasters can disrupt the supply chain of polysilicon leading to price fluctuations and market volatility Increasing competition from emerging markets New entrants from regions like China and India are increasing competition in the global market potentially leading to price pressures and consolidation
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Zhonghuan Semiconductor ,REC Silicon ,Hoshine Silicon Industry ,Luoyang Sunshine ,Tongwei Solar ,Xinte Energy ,CSG Holding ,Wacker Chemie ,OCI ,GCLPoly ,Hanwha Solutions ,Suzhou Shuangliang Silicon Material ,Daqo New Energy ,Hemlock Semiconductor ,Aiko Solar
MARKET FORECAST PERIOD	2025 - 2032
KEY MARKET OPPORTUNITIES	1 Rising demand for solar energy 2 Technological advancements in polysilicon production 3 Increasing investment in renewable energy projects 4 Growing adoption of solar photovoltaic systems 5 Government incentives for solar energy deployment
COMPOUND ANNUAL GROWTH RATE (CAGR)	11.96% (2025 - 2032)

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	3.2(USD Billion)
MARKET SIZE 2024	3.37(USD Billion)
MARKET SIZE 2032	5.1(USD Billion)
SEGMENTS COVERED	Purity Level ,Application ,Diameter ,Crystal Structure ,Manufacturing Process ,Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	Increased demand for solar power Technological advancements Government incentives Growing investments Favorable regulatory policies
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Sichuan Yongxiang Polysilicon ,Bokai Silicon ,Yongxiang New Energy Technology ,OCI ,Luoyang Zhonggui HiTech ,Daqo New Energy ,Tongwei Solar ,LONGi Green Energy Technology ,Wacker Chemie ,REC ,GCLPoly ,Hemlock Semiconductor ,Ferroglobe ,Xinte Energy ,Korean Polysilicon
MARKET FORECAST PERIOD	2024 - 2032
KEY MARKET OPPORTUNITIES	Growing demand for solar energy Government incentives for renewable energy Technological advancements in solar cell production Increasing use of polycrystalline silicon in photovoltaics Rising awareness of environmental sustainability
COMPOUND ANNUAL GROWTH RATE (CAGR)	5.32% (2024 - 2032)

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	6.58(USD Billion)
MARKET SIZE 2024	7.04(USD Billion)
MARKET SIZE 2032	12.15(USD Billion)
SEGMENTS COVERED	Application, Technology, Installation Type, End Use, Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	Increasing solar energy adoption, Technological advancements in production, Government incentives and subsidies, Cost reduction in manufacturing, Growing environmental concerns
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Risen Energy, SunPower, Seraphim Solar, Hanwha Q CELLS, REC Group, Trina Solar, Canadian Solar, Yingli Green Energy, JinkoSolar, GCLPoly Energy, Qidong Tianhe Technology, JA Solar, LONGi Green Energy, First Solar, SolarWorld
MARKET FORECAST PERIOD	2025 - 2032
KEY MARKET OPPORTUNITIES	Rising solar energy demand, Technological advancements in manufacturing, Increased government incentives, Expansion in emerging markets, Growth in energy storage solutions
COMPOUND ANNUAL GROWTH RATE (CAGR)	7.05% (2025 - 2032)

The trichlorosilane market experiences fast growth due to its essential function in the production of semiconductors, polysilicon, and the chemical industry. The market is likely to grow at a compound annual growth rate (CAGR) of 6.2% and reach USD 5.1 billion by 2035.

Attributes	Values
Projected Industry Size by 2035	USD 5.1 billion
Value-based CAGR (2025 to 2035)	6.2%

Industry Landscape

Category	Industry Share (%)
Top 3 Players (Wacker Chemie AG, Mitsubishi Materials Corporation, GCL-Poly)	50%
Rest of Top 5 (OCI Company Ltd., Tokuyama Corporation)	35%
Others	15%

Regional Analysis

Region	Market Share (%)
Asia-Pacific	41%
North America	23%
Europe	26%
Rest of the World	10%

BASE YEAR	2024
HISTORICAL DATA	2019 - 2024
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
MARKET SIZE 2023	18.9(USD Billion)
MARKET SIZE 2024	20.26(USD Billion)
MARKET SIZE 2032	35.4(USD Billion)
SEGMENTS COVERED	Application ,End User ,Power Output ,Efficiency ,Form Factor ,Regional
COUNTRIES COVERED	North America, Europe, APAC, South America, MEA
KEY MARKET DYNAMICS	Rising demand for renewable energy Increasing adoption of solar photovoltaic systems Technological advancements Government incentives and regulations Growing awareness of environmental sustainability
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	-JinkoSolar ,-Longi Solar ,-JA Solar ,-Trina Solar ,-Canadian Solar ,-First Solar ,-SunPower ,-REC Group ,-Hanwha Q CELLS ,-Meyer Burger ,-Suntech Power ,-Wuxi Suntech ,-Solaria ,-Astronergy ,-Boralex
MARKET FORECAST PERIOD	2024 - 2032
KEY MARKET OPPORTUNITIES	Growth in Residential Sector Increasing Environmental Awareness Technological Advancements Growing Demand in Developing Countries Government Incentives
COMPOUND ANNUAL GROWTH RATE (CAGR)	7.22% (2024 - 2032)