About Monocrystalline Silicon
Monocrystalline Silicon is made of pure silicon in an ordered and continuous single crystal structure. It is also called as single-crystal silicon. It is generally used as a light-absorbing material in photovoltaic applications. This silicon is also a photovoltaic and light-absorbing material in the manufacture of solar cells. The major shift of the manufacturers towards the use of monocrystalline silicon is due to the improvement in reliability and throughput of production tools that consequently improved the passivation quality of the films a large number of manufacturers now active in the passivated emitter and rear cell/contact (PERC) production. This is expected to drive the market in the upcoming years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.7% |
In Monocrystalline Silicon Market, it has been observed that most of the companies rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Analyst at AMA Research estimates that Asia Pacific Vendors will contribute the maximum growth to Global Monocrystalline Silicon market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
JA Solar Holdings (China), Jinko Solar (China), LONGi Solar (China), Shin-Etsu Chemical (Japan), SUMCO CORPORATION (Japan), NorSun AS (Norway), HHV Solar Technologies (India), Ferrotec Holdings (Japan), Mitsubishi (Japan), Solaicx (United States) and Tongwei Co.Ltd (China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Monocrystalline Silicon market by Type (Monocrystalline Silicon Wafer and Monocrystalline Silicon Rod), Application (Semiconductor, Solar Cell and Others) and Region.
On the basis of geography, the market of Monocrystalline Silicon has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Spain, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Method, the sub-segment i.e. Czochralski (CZ) Method will boost the Monocrystalline Silicon market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Reducing Price of Monocrystalline Silicon has Driven its Demand in Asia Pacific Region
Market Growth Drivers:
Increasing Demand for Solar Energy and Increasing Use in Production of Discrete Components and Integrated Circuits
Restraints:
Performance Levels Tend to Suffer from an Increase in Temperature
Opportunities:
Development of Thin-Film Monocrystalline Silicon Materials and High Efficiency Advantage
Market Leaders and their expansionary development strategies
In March 2024, Suniva, Inc., the largest and oldest U.S. manufacturer of high-efficiency monocrystalline silicon solar cells and Heliene, Inc., a customer-first provider of North American-made solar PV modules, today announced the execution of a three-year strategic sourcing contract.
In December 2022, Adani Solar, the photovoltaic manufacturing and research arm of the Adani Group, has introduced India's first large sized monocrystalline silicon ingot. Inaugurated by Gautam Adani, Chairman of the Adani Group at its Mundra facility recently, the monocrystalline ingots will drive indigenization to produce renewable electricity from Silicon based PV modules
Key Target Audience
In Monocrystalline Silicon Market, it has been observed that most of the companies rely on strategies such as mergers & acquisition, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.