PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1447084
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1447084
Solar Silicon Wafer Market Forecasts to 2030 - Global Analysis By Type (Polycrystalline Wafer, Monocrystalline Wafer and Other Types), Application, End User, and By Geography
According to Stratistics MRC, the Global Solar Silicon Wafer Market is accounted for $8.6 billion in 2023 and is expected to reach $18.7 billion by 2030 growing at a CAGR of 11.7% during the forecast period. A solar silicon wafer is a thin disc made primarily of crystalline silicon, a semiconductor material used in solar cell manufacturing. These wafers serve as the foundation for photovoltaic cells, which convert sunlight into electricity. They undergo precise fabrication processes, including slicing, polishing, and doping, to ensure optimal electrical conductivity and light absorption properties. They come in various sizes and thicknesses, with surface textures optimized to enhance light trapping. Solar silicon wafers are integral components in the production of solar panels, enabling the harnessing of solar energy for renewable power generation.
According to the China Photovoltaic Industry Association, China holds for the largest manufacturers of photovoltaic products and had a silicon wafers production capacity of more than 173.7 GW in FY2019.
Market Dynamics:
Driver:
Expansion of solar PV installations
The expansion of solar PV installations directly translates to an increased demand for silicon wafers. These installations are increasing globally due to several factors, including government incentives, declining costs of solar technology, environmental concerns, and energy security. Moreover, silicon wafers are the building blocks of solar cells, forming the basis of most solar PV technologies, which significantly boosts this market growth.
Restraint:
Cost of production
Silicon is derived from various sources that require energy-intensive processes, increasing production costs. The maintenance and operation of these machines, along with the skilled labor required, contribute to the overall cost. Moreover, crystallization, wafering, and processing require advanced technologies and equipment, which can be capital intensive, which is hampering this market size.
Opportunity:
Technological innovation
Technological advancements have continuously improved the efficiency and cost-effectiveness of solar silicon wafer production, thereby enhancing the competitiveness of solar energy as a renewable source. Innovations such as improvements in wafer slicing techniques, refining of silicon purification processes, and advancements in cell manufacturing technology have played pivotal roles. Furthermore, these innovations have led to higher conversion efficiencies, reduced production costs, and increased scalability in solar silicon wafer production.
Threat:
Lack of raw material
Silicon is a fundamental component in the manufacturing of solar cells, forming the basis of solar silicon wafers. The inadequate supply of high-purity silicon is exacerbated by factors like limited mining capacity, technological constraints in refining processes, and geopolitical tensions affecting the supply chains of solar silicon wafers. Consequently, manufacturers experienced challenges in meeting the escalating demand for solar panels, resulting in supply shortages and increased prices in the solar silicon wafer market.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the solar silicon wafer market in several ways. Firstly, disrupted supply chains due to lockdowns and travel restrictions hampered the availability of raw materials and components essential for manufacturing silicon wafers, causing delays and increasing costs. Secondly, decreased demand for solar installations amid economic uncertainties led to a decline in orders for silicon wafers, affecting revenues for manufacturers, which gradually impeded this market expansion.
The polycrystalline wafer segment is expected to be the largest during the forecast period
The polycrystalline wafer segment is estimated to hold the largest share, due to its cost-effectiveness and relatively good efficiency levels. These wafers are fabricated using multiple silicon crystals, resulting in a lower production cost compared to single-crystal wafers. Additionally, advancements in manufacturing processes led to improved efficiency and reduced manufacturing costs, further fueling this segment's growth.
The solar battery segment is expected to have the highest CAGR during the forecast period
The solar battery segment is anticipated to have highest CAGR during the forecast period due to their semiconductor properties; they serve as the foundational material for manufacturing solar cells. Companies focus on developing efficient solar cell technologies, enhancing the performance of solar panels, and improving the overall energy conversion efficiency. Furthermore, there is a growing emphasis on sustainability, driving innovations in recycling methods for silicon wafers and the development of eco-friendly manufacturing practices.
Region with largest share:
Europe commanded the largest market share during the extrapolated period, owing to increasing demand for solar photovoltaic (PV) installations across the region. Countries such as Spain, Italy, and France also contributed to the market's expansion through various government initiatives promoting solar power generation. In addition, with a focus on renewable energy and sustainability, many European countries implemented supportive policies and incentives for solar energy, bolstering the demand for solar silicon wafers.
Region with highest CAGR:
North America is expected to witness highest CAGR over the projection period, owing to increased efficiency and reduced manufacturing costs, making solar energy more competitive with traditional energy sources. Heightened awareness of environmental issues and the urgency to reduce carbon emissions have spurred investment in solar energy infrastructure. Furthermore, collaborations between research institutions, universities, and industry players have facilitated the development of cutting-edge technologies and materials, further driving the demand for silicon wafers in this region.
Key players in the market
Some of the key players in the Solar Silicon Wafer Market include Changzhou xusheng - energy Co., Ltd., Zhonghuan Semiconductor Corporation, LONGi Green Energy Technology Co., Ltd., JA Solar Holdings Co., Ltd., Canadian Solar Inc, CETC Solar Energy Holdings Co., Ltd., JinkoSolar Holding Co., Ltd., Trina Solar Co., Ltd, First Solar, Inc, Hanwha Q CELLS Co., Ltd, REC Group, SunPower Corporation, Yingli Green Energy Holding Company Limited, SolarWorld AG, Risen Energy Co., Ltd., Kyocera Corporation, Shunfeng International Clean Energy Limited, SolarEdge Technologies, Inc, LDK Solar Co., Ltd and ReneSola Ltd.
Key Developments:
In January 2024, Kyocera Corporation and Nippon Signal Co., Ltd. announced the establishment of the "Smart Mobility Infrastructure Technology Research Partnership".
In January 2024, LONGi energises the adelaide international as the exclusive global solar energy partner of the ATP Tour: serving a sustainable future.
In December 2023, LONGi, announces that has signed a 576 MW sales agreement with Nofar Energy Romania, implementing the latest generation of its high efficiency modules.
In September 2023, Kyocera Corporation announced the launch of a new standard line of 230V silicon nitride (SN) igniters for industrial or residential gas furnaces, water heaters, boilers, and gas stoves.
Types Covered:
- Polycrystalline Wafer
- Monocrystalline Wafer
- Other Types
Applications Covered:
- Solar Cell
- PV Modules
- Inverter
- Solar Battery
- Other Applications
End Users Covered:
- Industrial
- Commercial
- Residential
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Solar Silicon Wafer Market, By Type
- 5.1 Introduction
- 5.2 Polycrystalline Wafer
- 5.3 Monocrystalline Wafer
- 5.4 Other Types
6 Global Solar Silicon Wafer Market, By Application
- 6.1 Introduction
- 6.2 Solar Cell
- 6.3 PV Modules
- 6.4 Inverter
- 6.5 Solar Battery
- 6.6 Other Applications
7 Global Solar Silicon Wafer Market, By End User
- 7.1 Introduction
- 7.2 Industrial
- 7.3 Commercial
- 7.4 Residential
- 7.5 Other End Users
8 Global Solar Silicon Wafer Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Changzhou xusheng - energy Co., Ltd.
- 10.2 Zhonghuan Semiconductor Corporation
- 10.3 LONGi Green Energy Technology Co., Ltd.
- 10.4 JA Solar Holdings Co., Ltd.
- 10.5 Canadian Solar Inc
- 10.6 CETC Solar Energy Holdings Co., Ltd.
- 10.7 JinkoSolar Holding Co., Ltd.
- 10.8 Trina Solar Co., Ltd
- 10.9 First Solar, Inc
- 10.10 Hanwha Q CELLS Co., Ltd
- 10.11 REC Group
- 10.12 SunPower Corporation
- 10.13 Yingli Green Energy Holding Company Limited
- 10.14 SolarWorld AG
- 10.15 Risen Energy Co., Ltd.
- 10.16 Kyocera Corporation
- 10.17 Shunfeng International Clean Energy Limited
- 10.18 SolarEdge Technologies, Inc
- 10.19 LDK Solar Co., Ltd
- 10.20 ReneSola Ltd
List of Tables
- Table 1 Global Solar Silicon Wafer Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Solar Silicon Wafer Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Solar Silicon Wafer Market Outlook, By Polycrystalline Wafer (2021-2030) ($MN)
- Table 4 Global Solar Silicon Wafer Market Outlook, By Monocrystalline Wafer (2021-2030) ($MN)
- Table 5 Global Solar Silicon Wafer Market Outlook, By Other Types (2021-2030) ($MN)
- Table 6 Global Solar Silicon Wafer Market Outlook, By Application (2021-2030) ($MN)
- Table 7 Global Solar Silicon Wafer Market Outlook, By Solar Cell (2021-2030) ($MN)
- Table 8 Global Solar Silicon Wafer Market Outlook, By PV Modules (2021-2030) ($MN)
- Table 9 Global Solar Silicon Wafer Market Outlook, By Inverter (2021-2030) ($MN)
- Table 10 Global Solar Silicon Wafer Market Outlook, By Solar Battery (2021-2030) ($MN)
- Table 11 Global Solar Silicon Wafer Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 12 Global Solar Silicon Wafer Market Outlook, By End User (2021-2030) ($MN)
- Table 13 Global Solar Silicon Wafer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 14 Global Solar Silicon Wafer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 15 Global Solar Silicon Wafer Market Outlook, By Residential (2021-2030) ($MN)
- Table 16 Global Solar Silicon Wafer Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 17 North America Solar Silicon Wafer Market Outlook, By Country (2021-2030) ($MN)
- Table 18 North America Solar Silicon Wafer Market Outlook, By Type (2021-2030) ($MN)
- Table 19 North America Solar Silicon Wafer Market Outlook, By Polycrystalline Wafer (2021-2030) ($MN)
- Table 20 North America Solar Silicon Wafer Market Outlook, By Monocrystalline Wafer (2021-2030) ($MN)
- Table 21 North America Solar Silicon Wafer Market Outlook, By Other Types (2021-2030) ($MN)
- Table 22 North America Solar Silicon Wafer Market Outlook, By Application (2021-2030) ($MN)
- Table 23 North America Solar Silicon Wafer Market Outlook, By Solar Cell (2021-2030) ($MN)
- Table 24 North America Solar Silicon Wafer Market Outlook, By PV Modules (2021-2030) ($MN)
- Table 25 North America Solar Silicon Wafer Market Outlook, By Inverter (2021-2030) ($MN)
- Table 26 North America Solar Silicon Wafer Market Outlook, By Solar Battery (2021-2030) ($MN)
- Table 27 North America Solar Silicon Wafer Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 28 North America Solar Silicon Wafer Market Outlook, By End User (2021-2030) ($MN)
- Table 29 North America Solar Silicon Wafer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 30 North America Solar Silicon Wafer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 31 North America Solar Silicon Wafer Market Outlook, By Residential (2021-2030) ($MN)
- Table 32 North America Solar Silicon Wafer Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 33 Europe Solar Silicon Wafer Market Outlook, By Country (2021-2030) ($MN)
- Table 34 Europe Solar Silicon Wafer Market Outlook, By Type (2021-2030) ($MN)
- Table 35 Europe Solar Silicon Wafer Market Outlook, By Polycrystalline Wafer (2021-2030) ($MN)
- Table 36 Europe Solar Silicon Wafer Market Outlook, By Monocrystalline Wafer (2021-2030) ($MN)
- Table 37 Europe Solar Silicon Wafer Market Outlook, By Other Types (2021-2030) ($MN)
- Table 38 Europe Solar Silicon Wafer Market Outlook, By Application (2021-2030) ($MN)
- Table 39 Europe Solar Silicon Wafer Market Outlook, By Solar Cell (2021-2030) ($MN)
- Table 40 Europe Solar Silicon Wafer Market Outlook, By PV Modules (2021-2030) ($MN)
- Table 41 Europe Solar Silicon Wafer Market Outlook, By Inverter (2021-2030) ($MN)
- Table 42 Europe Solar Silicon Wafer Market Outlook, By Solar Battery (2021-2030) ($MN)
- Table 43 Europe Solar Silicon Wafer Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 44 Europe Solar Silicon Wafer Market Outlook, By End User (2021-2030) ($MN)
- Table 45 Europe Solar Silicon Wafer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 46 Europe Solar Silicon Wafer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 47 Europe Solar Silicon Wafer Market Outlook, By Residential (2021-2030) ($MN)
- Table 48 Europe Solar Silicon Wafer Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 49 Asia Pacific Solar Silicon Wafer Market Outlook, By Country (2021-2030) ($MN)
- Table 50 Asia Pacific Solar Silicon Wafer Market Outlook, By Type (2021-2030) ($MN)
- Table 51 Asia Pacific Solar Silicon Wafer Market Outlook, By Polycrystalline Wafer (2021-2030) ($MN)
- Table 52 Asia Pacific Solar Silicon Wafer Market Outlook, By Monocrystalline Wafer (2021-2030) ($MN)
- Table 53 Asia Pacific Solar Silicon Wafer Market Outlook, By Other Types (2021-2030) ($MN)
- Table 54 Asia Pacific Solar Silicon Wafer Market Outlook, By Application (2021-2030) ($MN)
- Table 55 Asia Pacific Solar Silicon Wafer Market Outlook, By Solar Cell (2021-2030) ($MN)
- Table 56 Asia Pacific Solar Silicon Wafer Market Outlook, By PV Modules (2021-2030) ($MN)
- Table 57 Asia Pacific Solar Silicon Wafer Market Outlook, By Inverter (2021-2030) ($MN)
- Table 58 Asia Pacific Solar Silicon Wafer Market Outlook, By Solar Battery (2021-2030) ($MN)
- Table 59 Asia Pacific Solar Silicon Wafer Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 60 Asia Pacific Solar Silicon Wafer Market Outlook, By End User (2021-2030) ($MN)
- Table 61 Asia Pacific Solar Silicon Wafer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 62 Asia Pacific Solar Silicon Wafer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 63 Asia Pacific Solar Silicon Wafer Market Outlook, By Residential (2021-2030) ($MN)
- Table 64 Asia Pacific Solar Silicon Wafer Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 65 South America Solar Silicon Wafer Market Outlook, By Country (2021-2030) ($MN)
- Table 66 South America Solar Silicon Wafer Market Outlook, By Type (2021-2030) ($MN)
- Table 67 South America Solar Silicon Wafer Market Outlook, By Polycrystalline Wafer (2021-2030) ($MN)
- Table 68 South America Solar Silicon Wafer Market Outlook, By Monocrystalline Wafer (2021-2030) ($MN)
- Table 69 South America Solar Silicon Wafer Market Outlook, By Other Types (2021-2030) ($MN)
- Table 70 South America Solar Silicon Wafer Market Outlook, By Application (2021-2030) ($MN)
- Table 71 South America Solar Silicon Wafer Market Outlook, By Solar Cell (2021-2030) ($MN)
- Table 72 South America Solar Silicon Wafer Market Outlook, By PV Modules (2021-2030) ($MN)
- Table 73 South America Solar Silicon Wafer Market Outlook, By Inverter (2021-2030) ($MN)
- Table 74 South America Solar Silicon Wafer Market Outlook, By Solar Battery (2021-2030) ($MN)
- Table 75 South America Solar Silicon Wafer Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 76 South America Solar Silicon Wafer Market Outlook, By End User (2021-2030) ($MN)
- Table 77 South America Solar Silicon Wafer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 78 South America Solar Silicon Wafer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 79 South America Solar Silicon Wafer Market Outlook, By Residential (2021-2030) ($MN)
- Table 80 South America Solar Silicon Wafer Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 81 Middle East & Africa Solar Silicon Wafer Market Outlook, By Country (2021-2030) ($MN)
- Table 82 Middle East & Africa Solar Silicon Wafer Market Outlook, By Type (2021-2030) ($MN)
- Table 83 Middle East & Africa Solar Silicon Wafer Market Outlook, By Polycrystalline Wafer (2021-2030) ($MN)
- Table 84 Middle East & Africa Solar Silicon Wafer Market Outlook, By Monocrystalline Wafer (2021-2030) ($MN)
- Table 85 Middle East & Africa Solar Silicon Wafer Market Outlook, By Other Types (2021-2030) ($MN)
- Table 86 Middle East & Africa Solar Silicon Wafer Market Outlook, By Application (2021-2030) ($MN)
- Table 87 Middle East & Africa Solar Silicon Wafer Market Outlook, By Solar Cell (2021-2030) ($MN)
- Table 88 Middle East & Africa Solar Silicon Wafer Market Outlook, By PV Modules (2021-2030) ($MN)
- Table 89 Middle East & Africa Solar Silicon Wafer Market Outlook, By Inverter (2021-2030) ($MN)
- Table 90 Middle East & Africa Solar Silicon Wafer Market Outlook, By Solar Battery (2021-2030) ($MN)
- Table 91 Middle East & Africa Solar Silicon Wafer Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 92 Middle East & Africa Solar Silicon Wafer Market Outlook, By End User (2021-2030) ($MN)
- Table 93 Middle East & Africa Solar Silicon Wafer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 94 Middle East & Africa Solar Silicon Wafer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 95 Middle East & Africa Solar Silicon Wafer Market Outlook, By Residential (2021-2030) ($MN)
- Table 96 Middle East & Africa Solar Silicon Wafer Market Outlook, By Other End Users (2021-2030) ($MN)
