Global Monocrystalline Silicon Market 2018-2022
About Monocrystalline Silicon
Monocrystalline silicon, also known as single-crystal silicon, is made of pure silicon in an ordered and continuous single crystal structure. It is generally used as a light absorbing material in photovoltaic applications.
Technavio’s analysts forecast the global monocrystalline silicon market to grow at a CAGR of 8.91% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global monocrystalline silicon market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Monocrystalline Silicon Market 2018-2022
Technavio recognizes the following companies as the key players in the global monocrystalline silicon market: JA SOLAR, Jinko Solar, LONGi Solar, Shin-Etsu Chemical, and SUMCO CORPORATION.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of thin-film monocrystalline silicon materials. Manufacturers are focusing on the development of thin films made of monocrystalline silicon materials. The application of these thin films in solar panels boosts its productivity and results in the production of cost-effective and efficient solar panels.”
According to the report, one driver in the market is increasing demand for solar energy. Solar energy does not cause emissions, which in turn, propels the demand for photovoltaic panels that convert sunlight to electricity. As a result, the demand for monocrystalline silicon is also rising as it is widely used in the manufacturing of photovoltaic panels. Research analysis on the global monocrystalline silicon market identifies that the increasing demand for solar energy will be one of the major factors that will have a positive impact on the growth of the market.
Further, the report states that one challenge in the market is disadvantages of monocrystalline solar panels. Monocrystalline silicon-based solar panels are fragile and increase losses during the manufacturing process. Solar panels are installed in open environments, and they are vulnerable to damages caused by objects carried by the wind. Safety glasses protect these panels from external damages.