Mexico Polysilicon Market Size & Outlook, 2023-2030
Mexico polysilicon market, 2018-2030 (US$M)
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Mexico polysilicon market highlights
- The Mexico polysilicon market generated a revenue of USD 682.9 million in 2023 and is expected to reach USD 1,694.2 million by 2030.
- The Mexico market is expected to grow at a CAGR of 13.9% 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 682.9 million |
| Market revenue in 2030 | USD 1,694.2 million |
| Growth rate | 13.9% (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, Mexico accounted for 1.8% of the global polysilicon market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. polysilicon market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 13,553.7 million by 2030.
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Polysilicon Market Scope
Polysilicon Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 76.25% in 2023. Horizon Databook has segmented the Mexico polysilicon market based on solar pv, electronics (semiconductors) covering the revenue growth of each sub-segment from 2018 to 2030.
An increase in solar panel installations across the region has led to an increase in demand for polysilicon, which is used in the manufacturing of solar cells and modules. For instance, according to the Solar Energy Industries Association, 48,884 solar infrastructure of 1,601 MW were installed in 2022.
Hence, the growing solar energy industry is a major driver predicted to drive the demand for polysilicon over the forecast period. Furthermore, the incentives and subsidies provided by the Mexican government in order to promote the adoption of renewable energy, including solar power, is propelling the demand for polysilicon for manufacturing solar PV panels.
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Target buyers of Mexico 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 Mexico polysilicon market , including forecasts for subscribers. This country databook contains high-level insights into Mexico polysilicon market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico polysilicon market size, by application, 2018-2030 (US$M)
Mexico Polysilicon Market Outlook Share, 2023 & 2030 (US$M)
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