US 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 United States (US) Polysilicon Market size is expected to reach $3.3 Billion by 2030, rising at a market growth of 12.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 97.7 Kilo Tonnes, experiencing a growth of 10.4% (2019-2022).

The polysilicon market in the United States has witnessed significant growth and transformation over the past few decades, driven primarily by the increasing demand for solar energy and semiconductor applications. Polysilicon, a key raw material in producing photovoltaic (PV) cells for solar panels and semiconductors, plays a crucial role in the renewable energy and electronics industries.

One of the primary factors influencing the polysilicon market is the price fluctuation. Price volatility is attributed to factors such as supply and demand dynamics, trade policies, technological advancements, and global economic conditions. Despite this volatility, technological advancements in polysilicon production processes have reduced costs, making solar energy more competitive with conventional energy sources.

Moreover, the United States is one of the leading global consumers and producers of polysilicon. With the growing emphasis on renewable energy and sustainability, the demand for polysilicon in the U.S. has steadily increased. The deployment of solar energy projects, both residential and utility-scale, has been a significant driver of this demand. Additionally, the semiconductor industry's continued innovation and expansion contribute to the sustained growth of the polysilicon market.

The COVID-19 pandemic has significantly impacted the polysilicon market in the United States. While the renewable energy sector initially faced disruptions due to supply chain constraints and project delays, the long-term outlook for polysilicon remains positive. The pandemic has underscored the importance of resilient and sustainable energy solutions, leading to renewed emphasis on clean energy investments and infrastructure development. As economies recover and stimulus packages prioritize green initiatives, the polysilicon market is expected to rebound and continue its growth trajectory.

Market Trends

Expansion of the solar energy industry

The expansion of the solar energy industry has led to significant growth in the polysilicon market in the United States. One of the primary drivers behind the growth of the solar energy industry in the U.S. is the declining cost of solar photovoltaic (PV) systems. Over the past decade, solar PV module costs have plummeted, making solar energy increasingly competitive with traditional energy sources. This cost reduction has been facilitated by advancements in polysilicon production technology, improving efficiency and lowering manufacturing costs.

According to the U.S. Energy Information Administration, in 2022, total solar energy use in the United States increased from about 0.06 trillion British thermal units (Btu) in 1984 to about 1,870 trillion Btu. Solar electricity generation has been the dominant contributor, comprising roughly 97% of the total solar energy consumption in 2022. Meanwhile, the direct utilization of solar energy for space and water heating constituted approximately 3% of the total. This surge in solar energy usage reflects the significant growth and development of the polysilicon market in the U.S., which serves as a crucial component in producing solar panels and contributes to the expansion of solar electricity generation.

Government policies and incentives have also played a crucial role in fostering the expansion of the solar energy industry in the U.S. Federal tax credits, state-level incentives, and renewable energy mandates have encouraged investment in solar projects, thereby boosting demand for polysilicon. Additionally, initiatives promoting clean energy and reducing greenhouse gas emissions have further incentivized the adoption of solar power, driving the need for polysilicon.

Furthermore, increasing environmental consciousness among U.S. consumers and businesses has contributed to the surge in demand for solar energy. As concerns over climate change intensify, there is growing pressure to transition towards renewable energy sources like solar power. Thus, the growth of the polysilicon market in the United States is propelled by declining solar PV costs, supportive government policies, and a rising demand for clean energy amid heightened environmental awareness.

Rising demand for monocrystalline solar panels

The polysilicon market in the United States is experiencing a significant shift driven by the rising demand for monocrystalline solar panels. Monocrystalline solar panels are renowned for their higher efficiency and durability than their polycrystalline counterparts. This increased efficiency translates to greater electricity generation per square meter of panel area, making monocrystalline panels an attractive choice for residential and commercial solar installations. As a result, the demand for monocrystalline panels has been steadily increasing in the U.S. polysilicon market, fueled by the growing adoption of solar energy as a sustainable power source.

One of the key drivers behind the rising demand for monocrystalline solar panels in the U.S. is the declining cost of production. Technological advancements and economies of scale have significantly reduced the manufacturing costs of monocrystalline panels, making them more cost-competitive with polycrystalline panels. Additionally, the increasing efficiency of monocrystalline panel technology allows for greater energy generation over the lifespan of the panels, providing consumers with a higher return on investment.

In response to the growing demand for monocrystalline panels, polysilicon manufacturers are adapting their production processes to meet the evolving needs of the industry. While polycrystalline silicon remains, the dominant material used in solar panel manufacturing, polysilicon producers are investing in research and development to improve the efficiency and quality of monocrystalline silicon production. Therefore, the rising demand for monocrystalline solar panels is reshaping the U.S. polysilicon market, driving innovation and investment toward higher efficiency and quality production.

Competition Analysis

The polysilicon market in the United States is a critical component of the country's energy and technology sectors. Several companies play significant roles in the polysilicon market within the United States. One of the prominent players is Hemlock Semiconductor Corporation, headquartered in Hemlock, Michigan. Hemlock Semiconductor is a leading polysilicon producer, a Dow Inc. subsidiary, and two Japanese companies, Shin-Etsu Handotai and Mitsubishi Materials Corporation. The company's polysilicon products are primarily used to manufacture solar cells and semiconductor devices.

Another key player in the U.S. polysilicon market is REC Silicon, headquartered in Moses Lake, Washington. REC Silicon produces high-purity polysilicon and silane gas for the solar and electronics industries. The company's advanced manufacturing processes and commitment to sustainability have positioned it as a major supplier in the polysilicon market.

Wacker Chemie AG, a German multinational chemical company, has a significant presence in the U.S. polysilicon market. The company's operates a polysilicon production facility in Charleston, Tennessee, which supplies high-quality polysilicon to customers worldwide. Chemie's polysilicon products are integral to producing solar panels and semiconductor wafers, supporting the growth of renewable energy and technological innovation.

In addition to these major players, several smaller companies contribute to the polysilicon market in the United States. These companies include MEMC Electronic Materials, based in St. Peters, Missouri, which produces polysilicon and silicon wafers for the semiconductor industry. MEMC Electronic Materials supplies essential materials for electronic devices and infrastructure.

SunEdison, formerly a major player in the solar energy industry, also had a significant presence in the U.S. polysilicon market before its bankruptcy in 2016. While SunEdison's bankruptcy led to significant changes in the solar industry, its former polysilicon assets continue contributing to the overall polysilicon market in the United States through acquisition and restructuring. These companies support domestic solar panel manufacturing and reduce the country's dependence on imported polysilicon.

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

US 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 US 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. US Polysilicon Market
4.1 US Polysilicon Market, By Application
4.1.1 US 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 Hemlock Semiconductor Operations LLC and Hemlock Semiconductor, L.L.C.
5.6.1 Company Overview
5.6.2 SWOT Analysis
5.7 DAQO NEW ENERGY CORP.
5.7.1 Company Overview
5.7.2 Financial Analysis
5.7.3 Research & Development Expenses
5.7.4 Recent strategies and developments:
5.7.4.1 Geographical Expansions:
5.7.5 SWOT Analysis
5.8 High-Purity Silicon America Corporation (SUMCO Corporation)
5.8.1 Company Overview
5.8.2 Financial Analysis
5.8.3 Regional Analysis
5.8.4 Research & Development Expenses
5.8.5 SWOT Analysis
5.9 Mitsubishi Materials Corporation
5.9.1 Company Overview
5.9.2 Financial Analysis
5.9.3 Regional Analysis
5.9.4 Research & Development Expenses
5.9.5 SWOT Analysis

TABLE 1 US Polysilicon Market, 2019 - 2022, USD Million
TABLE 2 US Polysilicon Market, 2023 - 2030, USD Million
TABLE 3 US Polysilicon Market, 2019 - 2022, Kilo Tonnes
TABLE 4 US Polysilicon Market, 2023 - 2030, Kilo Tonnes
TABLE 5 US Polysilicon Market, By Application, 2019 - 2022, USD Million
TABLE 6 US Polysilicon Market, By Application, 2023 - 2030, USD Million
TABLE 7 US Polysilicon Market, By Application, 2019 - 2022, Kilo Tonnes
TABLE 8 US Polysilicon Market, By Application, 2023 - 2030, Kilo Tonnes
TABLE 9 US Polysilicon Market, By Solar PV Type, 2019 - 2022, USD Million
TABLE 10 US Polysilicon Market, By Solar PV Type, 2023 - 2030, USD Million
TABLE 11 US Polysilicon Market, By Solar PV Type, 2019 - 2022, Kilo Tonnes
TABLE 12 US 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 – Hemlock Semiconductor Operations LLC and Hemlock Semiconductor, L.L.C.
TABLE 19 Key Information – DAQO NEW ENERGY CORP.
TABLE 20 Key Information – High-purity silicon america corporation
TABLE 21 Key Information – Mitsubishi materials corporation

List of Figures
FIG 1 Methodology for the research
FIG 2 US Polysilicon Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Polysilicon Market
FIG 4 Porter’s Five Forces Analysis - Polysilicon Market
FIG 5 US Polysilicon Market share, By Application, 2022
FIG 6 US Polysilicon Market share, By Application, 2030
FIG 7 US 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: Hemlock Semiconductor Operations LLC and Hemlock Semiconductor, L.L.C.
FIG 14 Swot Analysis: Daqo New Energy Corp.
FIG 15 Swot Analysis: High-Purity Silicon America Corporation
FIG 16 Swot Analysis: Mitsubishi Materials Corporation