India Polysilicon Market Size & Outlook, 2023-2030
India polysilicon market, 2018-2030 (US$M)
Related Markets
India polysilicon market highlights
- The India polysilicon market generated a revenue of USD 4,360.3 million in 2023 and is expected to reach USD 13,367.3 million by 2030.
- The India market is expected to grow at a CAGR of 17.4% from 2024 to 2030.
- In terms of segment, solar pv was the largest revenue generating application in 2023.
- Solar PV is the most lucrative application segment registering the fastest growth during the forecast period.
Polysilicon market data book summary
| Market revenue in 2023 | USD 4,360.3 million |
| Market revenue in 2030 | USD 13,367.3 million |
| Growth rate | 17.4% (CAGR from 2023 to 2030) |
| Largest segment | Solar pv |
| Fastest growing segment | Solar PV |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solar PV, Electronics (Semiconductors) |
| Key market players worldwide | OCI NV, REC Silicon ASA, Tokuyama Corp, Wacker Chemie AG, Daqo New Energy Corp ADR, GCL Technology Holdings Ltd, Tongwei Group, Xinte Energy, Qatar Solar Technologies, Hemlock Semiconductor Operations |
Other key industry trends
- In terms of revenue, India accounted for 11.5% of the global polysilicon market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China polysilicon market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 26,129.4 million by 2030.
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Polysilicon Market Scope
Polysilicon Market Companies
| Name | Profile | # Employees | HQ | Website |
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India polysilicon market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to polysilicon market will help companies and investors design strategic landscapes.
Solar pv was the largest segment with a revenue share of 76.74% in 2023. Horizon Databook has segmented the India polysilicon market based on solar pv, electronics (semiconductors) covering the revenue growth of each sub-segment from 2018 to 2030.
The polysilicon market in India is poised for significant growth, driven by the country's ambitious renewable energy initiatives and the government's supportive policies. India's commitment to renewable energy has created a strong demand for polysilicon, a key component in solar panel manufacturing.
Under the government's initiatives such as permitting Foreign Direct Investment (FDI) up to 100% under the automatic route, foreign investors are encouraged to participate in India's renewable energy sector, including the production of polysilicon.
This policy not only attracts capital but also promotes technological advancements and expertise in the polysilicon industry. The government's policy to establish Ultra Mega Renewable Energy Parks is another crucial driver for the polysilicon market.
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Target buyers of India polysilicon market databook
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Our clientele includes a mix of polysilicon market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India polysilicon market , including forecasts for subscribers. This country databook contains high-level insights into India polysilicon market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India polysilicon market size, by application, 2018-2030 (US$M)
India Polysilicon Market Outlook Share, 2023 & 2030 (US$M)
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