The global polysilicon market size by volume was 585.6 tons in 2021. The market is anticipated to expand from 664.1 tons in 2022 to 1,718.0 tons by 2029, exhibiting a CAGR of 14.5% over the estimated period. The rise is being driven by the rising product deployment in the manufacturing of solar cells.

This information is provided by Fortune Business Insights™ in its research report, titled “Polysilicon Market, 2022-2029”.

COVID-19 Impact:

Market Value Affected due to Disruptions in Supply Chains

The COVID-19 pandemic led to the imposition of lockdown restrictions, disrupting supply chains across various end-use sectors. The market growth was further impacted by raw material and workforce shortages, trade restrictions, logistical challenges, and freight container shortages. The period also recorded a considerable gap between demand and supply, affecting revenue expansion to a certain extent.

Source:

https://www.fortunebusinessinsights.com/polysilicon-market-102197

Report Coverage:

The report provides an overview of the significant factors fueling the business scenario across various regions. It further gives an account of the vital steps taken by leading companies for strengthening their industry position. These insights have been provided after in-depth research and data collation from trusted sources.

Segments:

Solar Photovoltaics Segment to Gain Traction due to Rising Installation of PV Systems

On the basis of application, the market is divided into electronics and solar photovoltaics. The solar photovoltaics segment is estimated to depict substantial expansion throughout the projected period. The surge is being impelled by the growing installation of solar PV systems across the globe.