The Latin America, Middle East and Africa Polysilicon Market would witness market growth of 15.3% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 156.5 Kilo Tonnes, showcasing a growth of 15.6% (2023-2030).
Beyond solar panels and semiconductors, it finds application in various electronic devices and photovoltaic technologies. It is used to produce sensors, diodes, and other electronic components. Additionally, emerging technologies, such as thin-film solar cells, are expanding the scope of its applications in the electronics and energy sectors. It is a fundamental material in the production of diodes. Diodes, semiconductor devices with two-terminal electronic components, utilize polysilicon as a key component in their construction. Its diodes find applications in electronic circuits' rectification, amplification, and signal processing.
Beyond diodes, it is integrated into various electronic components. Its semiconductor properties make it suitable for use in transistors, capacitors, and resistors, forming essential building blocks in the fabrication of integrated circuits and electronic devices. It is used to produce consumer electronics, including smartphones, tablets, and laptops. Its presence in electronic components ensures the reliability and efficiency of devices, contributing to the functionality of integrated circuits and semiconductor-based technologies. The application extends to energy storage and conversion devices. Its presence in components utilized in fuel cells, batteries, and other energy storage technologies facilitates the efficient conversion and utilization of energy in various applications.
Brazil has implemented supportive policies and initiatives to promote the use of renewable energy. This includes the National Renewable Energy Plan (PNE 2050), which outlines strategies for the expansion of renewable energy sources, including solar power. Incentives such as tax breaks, subsidies, and favorable regulatory frameworks encourage investment in solar projects, contributing to the demand for polysilicon. As per the data released in 2023 by the International Trade Administration, the renewable energy sector accounts for 83% of the Brazilian electricity matrix, while the global average is around 25%. The renewable energy industry has continuously expanded over the years through private investment. Investments in the Brazilian electricity sector are expected to reach over $100 billion by 2029, including utility-scale generation, distributed generation, transmission, and distribution projects.
The Brazil market dominated the LAMEA Polysilicon Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $884.3 Million by 2030. The Argentina market is showcasing a CAGR of 16.7% during (2023 - 2030). Additionally, The Egypt market would register a CAGR of 14.4% during (2023 - 2030).
Free Valuable Insights: The Worldwide Polysilicon Market is Projected to reach USD 37.9 Billion by 2030, at a CAGR of 13.6%
Based on Application, the market is segmented into Solar PV (Multicrystalline Solar Panel, and Monocrystalline Solar Panel), and Electronics (Semiconductor). Based on countries, the market is segmented into Brazil, Argentina, Egypt, South Africa, Morocco, Chile, and Rest of LAMEA.
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, kilo Tonnes, USD Billion, 2019-2030)
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