Analysis of Monocrystalline Silicone market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Monocrystalline silicone, also known as single-crystal silicone, consists of a single continuous lattice cell of silicone. It is majorly used in the fabrication of solar cells that convert solar energy into electricity. It is made by the Czochralski method. Monocrystalline silicone has various advantages over other technologies such as amorphous technology. It has the highest efficiency rate of around 15% and is space-efficient and durable compared to other technologies.
With the increase in demand for solar cells across the globe, the monocrystalline silicone market is expected to witness lucrative growth in the forecast period. Moreover, government regulations on conserving energy have further supported the global monocrystalline silicone market. Monocrystalline silicone holds nearly 32% of the global solar cell market.
The growing demand for solar cells, rising urbanization, and growth in the electrical & electronics industry are driving the global monocrystalline silicone market growth. Changing preferences of the consumer regarding the use of solar panels, favorable government regulations on energy conservation and increase in the global production capacity of monocrystalline silicone have further surged the global demand for monocrystalline silicone.
Increased focus on research & development activities to improve the efficiency of solar cell and production technology will bring lucrative opportunities for the global monocrystalline silicone market in the future. Manufacturers such as Panasonic and SolarCity, are actively using monocrystalline silicone to develop highly efficient solar panels.
For instance, in 2016, Panasonic introduced HIT® N330, a hetero-junction photovoltaic module fabricated with monocrystalline silicone. Due to the high cost of monocrystalline silicone, manufacturers have specifically targeted the premium end of the market. However, due to the higher production rate, high cost of installation, and decreasing cost of polycrystalline silicone, the demand for monocrystalline silicone is declining.
Among the regions mentioned above, East Asia has the largest market share in the global monocrystalline silicone market, owing to an increase in production capacity and growing electrical & electronics industry in the region. China is the net exporter of monocrystalline silicone, followed by Japan. Also, increasing urbanization and increase in solar installation in the region are the primary factors for the growth of the monocrystalline silicone market in the region.
In North America, the monocrystalline silicone market is expected to witness lucrative growth in the coming future, owing to favorable government regulations regarding the conservation of energy. In Europe, the monocrystalline silicone market is projected to witness a steady increase in the coming future, due to the decline in Europe’s economy.
In South Asia & Oceania, the monocrystalline silicon market is likely to witness exponential growth owing to the rise in urbanization and growth in per capita spending. However, due to the lack of supply in the region, the monocrystalline silicone market has witnessed a slight decline. Other regions such as the Middle East & Africa and Latin America will witness a single-digit growth in the coming forecast period.
Prominent players in the global monocrystalline silicone market are
The monocrystalline silicone market is consolidated with the presence of few manufacturers holding the majority share. Some of the major key developments in monocrystalline silicone markets include:
The research report presents a comprehensive assessment of the monocrystalline silicone market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The monocrystalline silicone market report provides analysis and information, according to market segments such as geographies, application and industry.
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The monocrystalline silicone report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, as well as inputs from industry experts and industry participants across the value chain. The monocrystalline silicone report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The monocrystalline silicone report also maps the qualitative impact of various market factors on market segments and geographies.
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The global monocrystalline silicone market is segmented on the basis of type, application, and region.
Based on type, the global monocrystalline silicone market is segmented as:
Monocrystalline silicone wafer type accounts for a major part of the market shares in the global monocrystalline silicone market.
Based on application, the global monocrystalline Silicone market is segmented as:
Based on region, the global monocrystalline silicone market is segmented as:
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The monocrystalline silicone market is predicted to grow at 6.3% CAGR during the forecast period.
The monocrystalline silicone market has high growth potential due to an increase in demand for solar cells and government regulations on conserving energy.
In the East Asia region, manufacturers may find the most opportunities in the monocrystalline silicone market.
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