Photovoltaic Granular Silicon Materials Market size is estimated to be USD 12.3 Billion in 2024 and is expected to reach USD 24.5 Billion by 2033 at a CAGR of 8.5% from 2026 to 2033.
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The photovoltaic (PV) industry has witnessed significant advancements in granular silicon materials, reshaping the market landscape. This article delves into the latest developments, technological breakthroughs, and strategic moves by key players in the industry.
GCL Technology has been at the forefront of granular silicon advancements. In the fourth quarter of 2024, the company reduced its granular silicon production costs by 15%, bringing the cost down to CNY 28.17 ($3.87) per kilogram from the previous CNY 33.18. This reduction was achieved through:
Enhanced production processes
Optimized equipment configurations
Balanced production cycles
Reduced energy consumption
These improvements not only lowered costs but also positioned GCL's granular silicon as a competitive alternative to traditional rod-shaped silicon. The company's production capacity reached 460,000 tons by January 2025, with plans for further expansion, including overseas projects in the United Arab Emirates and discussions for a 120,000-ton-per-year facility in Saudi Arabia. citeturn0search1
In December 2024, Hanwha Corp's Qcells announced a significant advancement in solar technology. The company achieved a world record efficiency of 28.6% for a large-area silicon solar cell with a perovskite top layer. This breakthrough has the potential to:
Reduce the space required for solar installations
Lower associated costs
Address challenges related to large-scale solar projects
The efficiency milestone was achieved on a commercial-sized cell, paving the way for future mass production. citeturn0news23
Japan has committed $1.5 billion towards the commercialization of ultra-thin, flexible perovskite solar cells. These cells, being significantly thinner than traditional panels, can be integrated into various structures, including buildings and stadiums. The Japanese government's goal is to generate energy equivalent to 20 nuclear power plants by 2040, aiming for up to 50% renewable energy in its electricity mix. citeturn0news26
Concurrently, the Biden administration announced an increase in tariffs on solar materials from China, effective January 1, 2025. Tariffs on polysilicon and solar wafers doubled from 25% to 50%, while certain tungsten products saw tariffs rise from 0% to 25%. This move aims to strengthen domestic clean energy supply chains and address concerns related to forced labor in China's Xinjiang region. citeturn0news22
Granular silicon offers several benefits over traditional rod-shaped silicon:
Cost Efficiency: The production process requires lower investment and operational costs, leading to more affordable end products.
Environmental Impact: The fluidized bed reactor (FBR) method used in granular silicon production consumes less energy, resulting in reduced carbon emissions. For instance, producing 1 GW of granular silicon can reduce CO2 emissions by approximately 130,000 tons, a 74% decrease compared to traditional methods. citeturn0search3
Product Quality: Advances have led to higher purity levels, with over 75% of GCL's FBR granular silicon achieving total metal content below 1 ppbw, meeting the requirements of next-generation n-type solar cells. citeturn0search0
The cost advantages and environmental benefits of granular silicon have led to increased adoption by leading photovoltaic companies. Firms such as TCL Zhonghuan Renewable Energy Technology Co., Ltd., LONGi Green Energy Technology Co., Ltd., and JA Solar Technology Co., Ltd. have integrated granular silicon into their production processes. In some facilities, the use of granular silicon has surpassed that of traditional rod silicon. citeturn0search2
As the industry continues to evolve, the emphasis on sustainable and cost-effective materials like granular silicon is expected to grow. Ongoing research, technological advancements, and strategic investments are likely to further solidify granular silicon's position in the photovoltaic market.
The importance of Photovoltaic Granular Silicon Materials Market research reports lies in their ability to aid strategic planning, helping businesses develop effective strategies by understanding market trends and dynamics. They play a crucial role in risk management by identifying potential risks and challenges, allowing businesses to mitigate them proactively. These reports offer a competitive advantage by providing insights into competitors' strategies and Photovoltaic Granular Silicon Materials Market positioning. For investors, they provide critical data for making informed decisions by highlighting market forecasts and growth potential. Additionally, market research reports guide product development by understanding consumer needs and preferences, ensuring products meet market demands and drive business growth.
What are the Type driving the growth of the Photovoltaic Granular Silicon Materials Market?
Growing demand for below Type around the world has had a direct impact on the growth of the Photovoltaic Granular Silicon Materials Market:
Silane Fluidized Bed Process, Trichlorosilane Fluidized Bed Process
What are the Applications of Photovoltaic Granular Silicon Materials Market available in the Market?
Based on Application the Market is categorized into Below types that held the largest Photovoltaic Granular Silicon Materials Market share In 2024.
Photovoltaic Power Plants, Household Distributed Photovoltaic Small Equipment, Others
Who is the largest Manufacturers of Photovoltaic Granular Silicon Materials Market worldwide?
GCL Technology Holdings Limited, MEMC, REC Asimi, Wacker Chemie AG, Shaanxi Non-Ferrous Tian Hong REC Silicon Materials
Short Description About Photovoltaic Granular Silicon Materials Market:
The global Photovoltaic Granular Silicon Materials Market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2031. In 2022, the market is growing steadily, and with the increasing adoption of strategies by key players, the market is expected to rise over the projected horizon.
North America, particularly the United States, will continue to play a pivotal role in the market's development. Any changes in the United States could significantly impact the Photovoltaic Granular Silicon Materials Market growth trends. The market in North America is projected to grow considerably during the forecast period, driven by the high adoption of advanced technology and the presence of major industry players, creating ample growth opportunities.
Europe is also expected to experience significant growth in the global market, with a strong CAGR during the forecast period from 2024 to 2031.
Despite intense competition, the clear global recovery trend keeps investors optimistic about the Photovoltaic Granular Silicon Materials Market, with more new investments expected to enter the field in the future.
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Which regions are leading the Photovoltaic Granular Silicon Materials Market?
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
What are the global trends in the Photovoltaic Granular Silicon Materials Market? Would the market witness an increase or decline in the demand in the coming years?
What is the estimated demand for different types of products in Photovoltaic Granular Silicon Materials Market? What are the upcoming industry applications and trends for the Photovoltaic Granular Silicon Materials Market?
What Are Projections of Global Photovoltaic Granular Silicon Materials Market Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and Export?
Where will the strategic developments take the industry in the mid to long-term?
What are the factors contributing to the final price of Photovoltaic Granular Silicon Materials Market? What are the raw materials used for Photovoltaic Granular Silicon Materials Market manufacturing?
How big is the opportunity for the Photovoltaic Granular Silicon Materials Market? How will the increasing adoption of Photovoltaic Granular Silicon Materials Market for mining impact the growth rate of the overall market?
How much is the global Photovoltaic Granular Silicon Materials Market worth? What was the value of the market In 2020?
Who are the major players operating in the Photovoltaic Granular Silicon Materials Market? Which companies are the front runners?
Which are the recent industry trends that can be implemented to generate additional revenue streams?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Photovoltaic Granular Silicon Materials Market Industry?
1. Introduction of the Photovoltaic Granular Silicon Materials Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Photovoltaic Granular Silicon Materials Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Photovoltaic Granular Silicon Materials Market, By Product
6. Photovoltaic Granular Silicon Materials Market, By Application
7. Photovoltaic Granular Silicon Materials Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. Photovoltaic Granular Silicon Materials Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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