Polysilicon Global Market Report 2026

Polysilicon is a highly purified form of silicon essential for producing photovoltaic (PV) solar cells, which convert sunlight into electricity. It serves as the foundational material for manufacturing solar panels, making it crucial to the solar energy industry.

The primary technologies for polysilicon manufacturing include the Siemens process, the fluidized bed reactor (FBR) process, and the upgraded metallurgical-grade silicon process. The Siemens process involves reducing silicon tetrachloride with hydrogen gas in a high-temperature reactor, followed by purification to achieve the high purity required for industrial use. Polysilicon produced through this method comes in various forms, such as chips, chunks, and rods, and is used in applications such as solar photovoltaics and electronics.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the polysilicon market by affecting cross border trade of raw silicon materials, manufacturing equipment, and intermediate products used in solar PV production. These impacts are most pronounced in asia pacific, north america, and europe, where solar supply chains are highly interconnected. Higher duties have increased production costs and influenced pricing of solar modules. At the same time, tariffs have encouraged local capacity expansion, supply chain localization, and investments in domestic polysilicon manufacturing facilities.

The polysilicon market research report is one of a series of new reports from The Business Research Company that provides polysilicon market statistics, including polysilicon industry global market size, regional shares, competitors with a polysilicon market share, detailed polysilicon market segments, market trends and opportunities, and any further data you may need to thrive in the polysilicon industry. This polysilicon market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The polysilicon market size has grown rapidly in recent years. It will grow from $11.63 billion in 2025 to $13.57 billion in 2026 at a compound annual growth rate (CAGR) of 16.7%. The growth in the historic period can be attributed to declining solar panel costs, government incentives for solar energy, early adoption of crystalline silicon PV technology, expansion of solar manufacturing in asia pacific, increasing electricity demand.

The polysilicon market size is expected to see rapid growth in the next few years. It will grow to $25.32 billion in 2030 at a compound annual growth rate (CAGR) of 16.9%. The growth in the forecast period can be attributed to global net zero emission targets, rapid expansion of solar PV installations, increasing investments in domestic polysilicon production, technological improvements in polysilicon purification, rising adoption of renewable energy in emerging economies. Major trends in the forecast period include expansion of high purity polysilicon capacity for solar PV, rising adoption of energy efficient siemens and FBR processes, growing shift toward low carbon polysilicon manufacturing, increasing demand for solar grade polysilicon from utility scale projects, advancements in process automation and yield optimization.

The growing adoption of solar energy is projected to drive the expansion of the polysilicon market. Solar energy, derived from the sun's radiation and converted into electricity or heat through technologies such as photovoltaics (PV) or solar thermal systems, is increasingly in demand due to rising environmental awareness and regulatory incentives encouraging the use of renewable energy globally. Polysilicon is vital for solar energy as it is the primary material used in manufacturing photovoltaic cells, which convert sunlight into electricity for solar panels. For instance, in February 2025, according to the World Resources Institute, a US-based non-profit organization, solar energy set a new record in 2024 by adding an estimated 39.6 gigawatts (GW) of capacity, exceeding the 27.4 GW installed in 2023. Thus, the rising adoption of solar energy is fueling growth in the polysilicon market.

Leading companies in the polysilicon market are forming strategic partnerships to share the substantial capital costs associated with polysilicon production, which involve complex manufacturing processes and equipment. A strategic partnership involves collaboration between organizations to achieve shared objectives through combined resources, expertise, and efforts. For instance, in August 2024, REC Silicon, a Norway-based polysilicon producer, teamed up with Mississippi Silicon, a U.S.-based raw silicon metal manufacturer. Following a recent investment by Hanwha Group in REC Silicon, this partnership aims to strengthen the development of a comprehensive U.S. solar supply chain, covering raw silicon processing, polysilicon production, and the assembly of complete solar modules.

In May 2024, Elkem ASA, a Norway-based producer of silicones, alloys, carbon, microsilica, and other materials, acquired REC Solar for $22 million. This acquisition will enhance Elkem's presence in the solar energy sector, allowing it to leverage REC Solar's technology and expertise to expand its renewable energy offerings. Additionally, this move strengthens Elkem's portfolio and positions it to benefit from the growing demand for sustainable energy solutions. REC Solar is a Norway-based company specializing in various products, including polysilicon.

Major companies operating in the polysilicon market are Tongwei Co. Ltd., OCI Company Ltd., Canadian Solar Inc., Wacker Chemie AG, Asia Silicon (Qinghai) Co. Ltd., Daqo New Energy Corp., Risen Energy Co. Ltd., Xinte Energy Co. Ltd., Sino-American Silicon Products Inc., Tokuyama Corporation, Hemlock Semiconductor Operations LLC, GCL New Energy Holdings Ltd., LDK Solar Co. Ltd., Lanco Solar, ReneSola Ltd., REC Silicon ASA, Mitsubishi Polycrystalline Silicon America Corporation, TBEA Energy Private Ltd., Qatar Solar Technologies, Sichuan Yongxiang Co. Ltd., Huanghe Hydropower Development Co. Ltd., Hanwha Q Cells

Asia-Pacific was the largest region in the polysilicon market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the polysilicon market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the polysilicon market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The polysilicon market consists of sales of silicon wafers, silicon ingots, silane gas and silicon photomultipliers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Polysilicon Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses polysilicon market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for polysilicon ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The polysilicon market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Manufacturing Technology: Siemens Process; Fluidized Bed Reactor (FBR) Process; Upgraded Metallurgical-Grade Silicon Process
• 2) By Form: Chips; Chunks; Rods
• 3) By Application: Solar Photovoltaic; Electronics
• Subsegments:
• 1) By Siemens Process: Traditional Siemens Process; High-Temperature Siemens Process; Modified Siemens Process
• 2) By Fluidized Bed Reactor (FBR) Process: Direct Silane Deposition; High-Purity FBR Process; Low-Temperature FBR Process
• 3) By Upgraded Metallurgical-Grade Silicon Process: Silicothermic Process; Electrochemical Reduction Process; High-Efficiency UMG Silicon Process
• Companies Mentioned: Tongwei Co. Ltd.; OCI Company Ltd.; Canadian Solar Inc.; Wacker Chemie AG; Asia Silicon (Qinghai) Co. Ltd.; Daqo New Energy Corp.; Risen Energy Co. Ltd.; Xinte Energy Co. Ltd.; Sino-American Silicon Products Inc.; Tokuyama Corporation; Hemlock Semiconductor Operations LLC; GCL New Energy Holdings Ltd.; LDK Solar Co. Ltd.; Lanco Solar; ReneSola Ltd.; REC Silicon ASA; Mitsubishi Polycrystalline Silicon America Corporation; TBEA Energy Private Ltd.; Qatar Solar Technologies; Sichuan Yongxiang Co. Ltd.; Huanghe Hydropower Development Co. Ltd.; Hanwha Q Cells
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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