Polysilicon Market Size To Reach $122.92 Billion By 2033

Polysilicon Market Growth & Trends

The global Polysilicon market size is expected to reach USD 122.92 billion by 2033, registering a CAGR of 11.6% from 2026 to 2033, according to a new report by Grand View Research, Inc. The market is witnessing significant growth due to the expansion of the solar industry. Polysilicon is a critical raw material in solar panel manufacturing, and the increasing demand for solar energy worldwide is driving the market growth.

 Additionally, many governments are recognizing the importance of transitioning to cleaner energy sources, which led to the introduction of a range of incentives and support mechanisms to promote solar energy adoption. These incentives are often financial in nature and include tax credits, subsidies, and grants. This financial attractiveness encourages businesses to expand their use of solar energy, further driving the demand for polysilicon-based solar panels.

The semiconductor industry is persistently expanding to meet the increasing demand for electronic devices, including smartphones, computers, automotive electronics, and IoT devices. As polysilicon is a fundamental material used in semiconductor manufacturing, which led to an increase in demand for polysilicon, in turn, creating lucrative growth opportunities for the market.

The emergence and subsequent adoption of green energy technologies and electric vehicles (EVs) have played a vital role in driving the growth of the market. These technologies require advanced power management and control systems, which require semiconductor components. Polysilicon is integral to these semiconductor manufacturing processes, boosting the demand for polysilicon in the semiconductor industry.

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Polysilicon Market Report Highlights

• Solar PV dominated the market across the application segmentation in terms of revenue, accounting for a market share of 77.31% in 2025, and is forecasted to grow at a 12.2% CAGR from 2026 to 2033.

• The electronics (semiconductors) segment is expected to expand at a substantial CAGR of 9.3% through the forecast period. The expansion of wafer fab capacity for AI, automotive, and edge computing is strengthening the semiconductor polysilicon market.

• The Asia Pacific polysilicon industry held the largest share, accounting for 63.57% of the revenue in 2025, and is expected to grow at the fastest CAGR of 11.8% over the forecast period. Rapid PV deployment and aggressive manufacturing expansion drive regional market growth

Polysilicon Market Segmentation

Grand View Research has segmented the global polysilicon market based on application, and region:

Polysilicon Application Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Solar PV

  • Monocrystalline Solar Panel

  • Multicrystalline Solar Panel

• Electronics (Semiconductors)

Polysilicon Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players in Polysilicon Market

• High-Purity Silicon America Corporation

• OCI COMPANY Ltd.

• Qatar Solar Technologies

• REC Silicon ASA

• Tongwei Group Co., Ltd

• Tokuyama Corporation

• Wacker Chemie AG

• Xinte Energy Co., Ltd

• DAQO NEW ENERGY CO., LTD.

• GCL-TECH

• Hemlock Semiconductor Operations LLC and Hemlock Semiconductor, L.L.C.