Polysilicon Market Growth Accelerated By Use In Solar PV Cells
Polysilicon Market Polysilicon is a high-purity form of silicon used primarily as feedstock for the production of photovoltaic cells, which are commonly used in solar panels. Polysilicon is considered as the backbone of the solar industry as over 60% of the total solar panel cost is attributed to the polysilicon raw material. It offers high conductivity and purity levels suitable for solar cell applications compared to metallurgical-grade silicon. The global Polysilicon Market is estimated to be valued at US$ 12.8 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing demand for solar PV cells is a key driver boosting the growth of the polysilicon market. Rapid expansion of the global solar industry and increased adoption of solar energy over conventional sources are increasing the consumption of polysilicon raw material. Government targets...