Solar Silicon Wafer Market is Anticipated to Generate Significant Revenues by 2027

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Solar Silicon Wafer Market Growth Potential and
Regional Outlook to 2027

• The solar silicon wafer market is anticipated to
  record expansive growth as to intensifying
  government concerns on tackling the negative
  impacts of greenhouse gas emissions. Regulations
  imposed by various governments organizations
  worldwide to lower global carbon footprint have
  instigated the adoption of renewable energy
  infrastructure, majorly solar energy, for
  electricity generation and energy conversion.
• According to a report published by Global Market
  Insights, the market for solar silicon wafer is
  projected to surpass USD 20 billion by 2027.

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• Although, the COVID-19 pandemic has severely
  affected the growth of the solar silicon wafer
  industry. The pandemic has disturbed supply
  chains of polysilicon raw material for solar
  silicon wafer manufacturers globally. Businesses
  operating in this arena are highly dependent on
  China for procuring raw materials and components
  for manufacturing solar energy systems.

• Highlighting an instance, in November 2019, the
  German federal government passed the new Climate
  Protection Law, which aims to reduce greenhouse
  gas emissions by 38 by 2030, compared to 2005
  levels. This determined goal is projected to rise
  the penetration of solar power plants and solar
  farms in the European Union, driving the solar
  silicon wafers market growth over the forecast
  period.

• Strict lockdowns imposed all over the world have
  impacted the import and export of such raw
  materials. As a solution, companies are
  establishing new production facilities in their
  countries and other regions for fixing the supply
  chain issues, creating new prospects for regional
  raw material suppliers over the forecast period.

• In line with this, regional manufacturers are
  focusing on securing funding, investment, as well
  as are commencing expansion activities. For
  instance, Leading Edge Equipment Technologies, a
  single-crystal silicon wafer manufacturer,
  announced securing USD 7.6 million funding in a
  Series-A financing round.

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• Regional Analysis

• The North America solar silicon wafer market is
  anticipated to clock a CAGR of 9 by 2027 owing
  to rising solar power plants being established in
  the U.S. According to Solar Energy Industries
  Association, U.S. solar energy producers
  installed 3.8 GW of solar capacity in the third
  quarter of 2020. With this, the total installed
  capacity in the U.S. reached around 88.9 GW in
  the third quarter of 2020.

• Competitive Analysis

• Some other key players functioning in the global
  solar silicon wafer market include JinkoSolar
  Holding Co., Ltd., Huantai Group, LONGi Green
  Energy Technology Co., Ltd., Jiangxi LDK Solar
  High-Tech Co., Ltd. GCL-Poly Energy Holdings
  Limited, Solargiga Energy Holdings Limited, and
  CETC Solar Energy Holdings Co., Ltd., among
  others. These companies are focusing on investing
  in RD activities and developing innovative
  products for maintaining a competitive edge in
  the market.

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