Japan Polysilicon Market Size, Share & Trends Analysis Report By Application (Solar PV (Multicrystalline Solar Panel, and Monocrystalline Solar Panel), and Electronics (Semiconductor), and Forecast, 2023 - 2030

The Japan Polysilicon Market size is expected to reach $3.7 Billion by 2030, rising at a market growth of 12.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 107.5 Kilo Tonnes, experiencing a growth of 11.5% (2019-2022).

The polysilicon market in Japan has experienced notable growth and transformation over the years, driven by the increasing demand for solar energy solutions and electronic devices. Polysilicon, a key raw material in producing solar panels and semiconductor chips, has witnessed substantial demand in Japan, a country known for its technological advancements and commitment to renewable energy.

Japan's polysilicon market is closely intertwined with its renewable energy goals, particularly in the solar energy sector. The Japanese government has implemented various incentives and policies to promote the adoption of solar power, aiming to reduce reliance on nuclear energy and mitigate carbon emissions. This initiative has fueled investments in solar infrastructure, thereby driving the demand for polysilicon as a crucial component in photovoltaic cells.

The COVID-19 pandemic has had a significant impact on the polysilicon market in Japan, as it has on global economies and industries. Lockdown measures and reduced economic activity led to fluctuations in demand for electronic devices and solar installations, impacting polysilicon consumption. However, the pandemic also accelerated certain trends, such as remote work and increased reliance on renewable energy, which have long-term implications for the polysilicon market in Japan.

In response to the challenges posed by COVID-19, polysilicon manufacturers in Japan implemented measures to ensure the safety of their workforce and maintain operational continuity. Enhanced sanitation protocols, remote working arrangements, and supply chain diversification strategies were adopted to mitigate the impact of the pandemic. Additionally, government stimulus packages and support measures aimed to bolster economic recovery indirectly support the polysilicon market.

Market Trends

Increasing adoption of electric vehicles

The polysilicon market in Japan is experiencing a significant surge in demand, primarily fueled by the increasing adoption of electric vehicles (EVs) driven by environmental concerns. As the world grapples with the pressing issue of climate change, there has been a concerted effort to transition towards cleaner and more sustainable transportation alternatives, with EVs emerging as a prominent solution. Polysilicon, a key component in the production of solar panels and semiconductors, plays a crucial role in the manufacture of EV batteries. As a result, Japan's polysilicon market has witnessed a substantial uptick in demand, with manufacturers racing to ramp up production to meet the burgeoning needs of the EV industry.

According to the Japan Automobile Dealers Association (JADA), in 2020, the sales of new electric vehicles in Japan approached 1.4 million units, marking a significant surge. This surge indicates a growing preference for electric vehicles, as they accounted for 36.2% of total new car sales, rising from 35.2% in 2019 to 32.9% in 2017. This trend underscores the escalating demand for electric vehicles and their associated technologies, including the polysilicon market in Japan.

Environmental concerns have been a driving force behind the shift towards EVs. With growing awareness of the detrimental effects of greenhouse gas emissions and air pollution, consumers, policymakers, and businesses are increasingly turning to electric vehicles as a cleaner and more sustainable mode of transportation.

In Japan, where environmental consciousness is particularly high, the transition to EVs has been accelerated. The government in Japan has introduced various initiatives to promote the widespread adoption of electric vehicles, including subsidies, tax incentives, and infrastructure development. Additionally, stringent emissions regulations and targets have incentivized automakers to invest heavily in electric mobility solutions. Therefore, the surge in polysilicon demand in Japan is driven by the rapid adoption of electric vehicles and supported by environmental consciousness and government incentives.

Rising demand for semiconductors

In Japan, the polysilicon market is experiencing a significant surge in demand, primarily driven by the increasing need for semiconductors across various industries. One of the key drivers of the growing demand for semiconductors is the widespread adoption of smart devices and electronic appliances. These devices, ranging from smartphones and tablets to smart home appliances and automotive electronics, rely heavily on semiconductor chips for their functionality.

According to the World Semiconductor Trade Statistics (WSTS), Japan's electronic products industry, the third largest in the world, is the most significant factor driving demand for semiconductor sales to Japan. Japanese semiconductor industry grew to $37.4 billion by 3.9% in 2020, anticipating increasing investment in data centers, implementing 5G services, and expanding automotive electronics. This rising demand for semiconductors in the polysilicon market further contributes to the growth and significance of Japan's semiconductor industry, reinforcing its position as a major player in the global electronics industry.

As Japanese consumer preferences shift towards more technologically advanced products, manufacturers are pressured to ramp up production to meet this demand, consequently driving the need for polysilicon as a key raw material in semiconductor manufacturing. Moreover, Japan's emphasis on renewable energy sources such as solar power has increased the focus on polysilicon production for photovoltaic (PV) solar cells. Therefore, the surge in demand for polysilicon in Japan is fueled by the booming semiconductor industry driven by smart device adoption and the country's commitment to renewable energy.

Competition Analysis

In Japan, the polysilicon market is vital to the country's semiconductor and solar industries. Several companies in Japan play significant roles in this industry, contributing to both domestic production and international supply chains. One of the prominent players in the Japanese polysilicon market is Shin-Etsu Chemical Co., Ltd. Established in 1926, Shin-Etsu Chemical has evolved into one of the world's largest producers of silicones and semiconductor materials. The company's polysilicon segment manufactures high-purity polysilicon, catering to the semiconductor industry's stringent requirements. Shin-Etsu's polysilicon is crucial for producing integrated circuits in electronic devices and solar cells deployed in renewable energy systems.

Another key player in Japan's polysilicon market is Tokuyama Corporation. With a history spanning over a century, Tokuyama Corporation has diversified its operations into various chemical and materials sectors. In the polysilicon market, the company focuses on producing electronic-grade polysilicon, catering primarily to semiconductor manufacturers. Tokuyama's polysilicon products are integral to fabricating advanced semiconductor devices, including microprocessors, memory chips, and sensors, supporting Japan's position as a global semiconductor hub.

Mitsubishi Materials Corporation is also a significant contributor to Japan's polysilicon industry. Established in 1950, Mitsubishi Materials has expanded its business into diverse sectors, including metals, cement, and electronic materials. In the polysilicon market, the company supplies high-purity polysilicon for semiconductor applications, leveraging its advanced manufacturing technologies and quality control processes. Mitsubishi Materials plays a crucial role in ensuring a stable polysilicon supply to meet the growing demands of Japan's semiconductor manufacturers.

Additionally, Showa Denko K.K. (SDK) is a notable participant in Japan's polysilicon market. Founded in 1939, SDK operates across various industries, including chemicals, electronics, and metals. The company's polysilicon division produces high-quality polysilicon for semiconductor and solar applications. Japan's polysilicon market is supported by several established companies that produce high-purity polysilicon for semiconductor and solar applications. Their contributions strengthen Japan's position in the global polysilicon market and facilitate the country's technological advancements and sustainability goals.

List of Key Companies Profiled

• OCI Company Ltd.
• Tokuyama Corporation
• Wacker Chemie AG
• REC Silicon ASA
• GCL Technology Holdings Limited (Golden Concord Holding Limited)
• Hemlock Semiconductor Operations LLC and Hemlock Semiconductor, L.L.C.
• DAQO NEW ENERGY CORP.
• High-Purity Silicon America Corporation (SUMCO Corporation)
• Mitsubishi Materials Corporation

Japan Polysilicon Market Report Segmentation

By Application

• Solar PV
  • Multicrystalline Solar Panel
  • Monocrystalline Solar Panel
• Electronics (Semiconductor)

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Japan Polysilicon Market, by Application
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
2.2.3 Market Opportunities
2.2.4 Market Challenges
2.2.5 Market Trends
2.3 Porter’s Five Forces Analysis

Chapter 3. Strategies Deployed in Polysilicon Market

Chapter 4. Japan Polysilicon Market
4.1 Japan Polysilicon Market, By Application
4.1.1 Japan Polysilicon Market, By Solar PV Type

Chapter 5. Company Profiles – Global Leaders
5.1 OCI Company Ltd.
5.1.1 Company Overview
5.1.2 Financial Analysis
5.1.3 Segmental and Regional Analysis
5.1.4 Research & Development Expenses
5.1.5 Recent strategies and developments:
5.1.5.1 Partnerships, Collaborations, and Agreements:
5.1.5.2 Geographical Expansions:
5.1.6 SWOT Analysis
5.2 Tokuyama Corporation
5.2.1 Company Overview
5.2.2 Financial Analysis
5.2.3 Segmental and Regional Analysis
5.2.4 Research & Development Expenses
5.2.5 Recent strategies and developments:
5.2.5.1 Partnerships, Collaborations, and Agreements:
5.2.6 SWOT Analysis
5.3 Wacker Chemie AG
5.3.1 Company Overview
5.3.2 Financial Analysis
5.3.3 Segmental and Regional Analysis
5.3.4 Research & Development Expenses
5.3.5 Recent strategies and developments:
5.3.5.1 Geographical Expansions:
5.3.6 SWOT Analysis
5.4 REC Silicon ASA
5.4.1 Company Overview
5.4.2 Financial Analysis
5.4.3 Segmental Analysis
5.4.4 Recent strategies and developments:
5.4.4.1 Partnerships, Collaborations, and Agreements:
5.4.5 SWOT Analysis
5.5 GCL Technology Holdings Limited (Golden Concord Holding Limited)
5.5.1 Company Overview
5.5.2 Financial Analysis
5.5.3 Segmental and Regional Analysis
5.5.4 Research & Development Expenses
5.5.5 Recent strategies and developments:
5.5.5.1 Geographical Expansions:
5.5.6 SWOT Analysis
5.6 DAQO NEW ENERGY CORP.
5.6.1 Company Overview
5.6.2 Financial Analysis
5.6.3 Research & Development Expenses
5.6.4 Recent strategies and developments:
5.6.4.1 Geographical Expansions:
5.6.5 SWOT Analysis
5.7 Mitsubishi Materials Corporation
5.7.1 Company Overview
5.7.2 Financial Analysis
5.7.3 Regional Analysis
5.7.4 Research & Development Expenses
5.7.5 SWOT Analysis

TABLE 1 Japan Polysilicon Market, 2019 - 2022, USD Million
TABLE 2 Japan Polysilicon Market, 2023 - 2030, USD Million
TABLE 3 Japan Polysilicon Market, 2019 - 2022, Kilo Tonnes
TABLE 4 Japan Polysilicon Market, 2023 - 2030, Kilo Tonnes
TABLE 5 Japan Polysilicon Market, By Application, 2019 - 2022, USD Million
TABLE 6 Japan Polysilicon Market, By Application, 2023 - 2030, USD Million
TABLE 7 Japan Polysilicon Market, By Application, 2019 - 2022, Kilo Tonnes
TABLE 8 Japan Polysilicon Market, By Application, 2023 - 2030, Kilo Tonnes
TABLE 9 Japan Polysilicon Market, By Solar PV Type, 2019 - 2022, USD Million
TABLE 10 Japan Polysilicon Market, By Solar PV Type, 2023 - 2030, USD Million
TABLE 11 Japan Polysilicon Market, By Solar PV Type, 2019 - 2022, Kilo Tonnes
TABLE 12 Japan Polysilicon Market, By Solar PV Type, 2023 - 2030, Kilo Tonnes
TABLE 13 Key Information – OCI Company Ltd.
TABLE 14 Key Information – Tokuyama Corporation
TABLE 15 Key Information – Wacker Chemie AG
TABLE 16 Key Information – REC Silicon ASA
TABLE 17 Key Information – GCL Technology Holdings Limited
TABLE 18 Key Information – DAQO NEW ENERGY CORP.
TABLE 19 Key Information – Mitsubishi materials corporation

List of Figures
FIG 1 Methodology for the research
FIG 2 Japan Polysilicon Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Polysilicon Market
FIG 4 Porter’s Five Forces Analysis - Polysilicon Market
FIG 5 Japan Polysilicon Market share, By Application, 2022
FIG 6 Japan Polysilicon Market share, By Application, 2030
FIG 7 Japan Polysilicon Market, By Application, 2019 - 2030, USD Million
FIG 8 SWOT Analysis: OCI Company Ltd.
FIG 9 SWOT Analysis: Tokuyama Corporation
FIG 10 Swot Analysis: Wacker Chemie AG
FIG 11 Swot Analysis: REC Silicon ASA
FIG 12 Swot Analysis: GCL Technology Holdings Limited
FIG 13 Swot Analysis: Daqo New Energy Corp.
FIG 14 Swot Analysis: Mitsubishi Materials Corporation