“The Trichlorosilane market size was valued at US$ 8.7 billion in 2023 and is likely to grow at a healthy CAGR of 6.8% in the long run to reach US$ 15.9 billion in 2030.”
Market Dynamics
Introduction
Trichlorosilane is an inorganic compound that is an intermediary product formed while manufacturing polycrystalline silicon and fumed silica. The industrial chain of the trichlorosilane industry mainly includes upstream raw material supply, midstream trichlorosilane production, and downstream application fields. Upstream raw materials mainly include metal-grade silicon, coke, and hydrogen chloride.
Downstream application fields mainly include the production of polysilicon, fumed silica, and silane coupling agents. One of the trends in the energy & power industry is the increasing number of solar power plants, which, in turn, boost the demand for trichlorosilane in the polysilicon manufacturing process. Widening applications involving fumed silica in silicone-based rubber products also drive the demand for trichlorosilane.
Recent Market Developments
- In May 2022, Tokuyama Chemicals (Zhejiang) Co., Ltd. announced an increase in the production capacity of its hydrophobic fumed silica line. Hydrophobic-grade fumed silica is used mainly for cosmetics and surface treatment applications.
- In July 2022, Wacker Chemie AG proposed extending the Charleston site and ordered the construction of a silicone manufacturing plant. The Charleston plant has been a polysilicon hub for Wacker since 2015.
Market Drivers
The world is shifting towards eco-friendly alternatives for energy generation, and solar energy will provide the most promising future. Solar panel installation is increasing, and it has almost doubled to reach 447 GW in 2023 from 236 GW in 2022. This extensive rise in solar PV installation creates significant demand for PV-grade polysilicon produced using trichlorosilane by the Siemens process.
Apart from solar applications, trichlorosilane supports the chemical industry by enabling the production of silane, fumed silica, and functional silane. The growth of the building and construction industry presents an optimistic scenario for the trichlorosilane market, as trichlorosilane is a significant precursor for paintings, adhesives, and surface treatment. These applications drive the market, particularly in emerging economies.
Challenges
Health and safety restrictions on using trichlorosilane as a hazardous chemical severely impede market growth. The consequent need for increased safety measures to manage its health hazards entails high costs and operational difficulties for manufacturers.
The volatile prices of raw materials, mainly silicon, are a significant challenge in the trichlorosilane market. Changes in the cost of raw materials make the production cost unpredictable, thereby affecting the overall market price.
Segments Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Application-Type Analysis
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Solar Polysilicon, Functional Silane, and Fumed Silica
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Solar polysilicon to create the most significant demand for trichlorosilane in the coming years.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific has the most significant chunk of the pie in the trichlorosilane market.
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By Application Type
“Solar polysilicon is estimated to be the biggest application of trichlorosilane whereas fumed silica is the most rapidly expanding category in the market during the forecast period.”
- Solar-grade polysilicon is a primary raw material for producing solar panels; this polysilicon is mainly produced by the Siemens process using trichlorosilane as the primary raw material. The continuously increasing Solar PV installation is driving the demand for trichlorosilane.
- The trichlorosilane market for solar-grade PV is growing at a CAGR of more than 6% in the forecasted period, which signifies the growing demand for trichlorosilane in the energy & power industry.
- Fumed silica is the fastest-growing segment due to the widespread applications of silicone-based products. Rubber containing silica, adhesives, inks, coatings, etc., is estimated to drive the demand for trichlorosilane in the coming future.
Regional Analysis
“Asia-Pacific region is forecasted to be the biggest and fastest-growing region driven by China’s dominant presence.”
- China is a significant country in the production of polysilicon. According to IEA, China has the largest share of global polysilicon production. Hence, it makes Asia-Pacific the most dominant region in the world.
- China also dominates the fumed silica segment. According to estimates, China has an almost 40% share in the global fumed silica production due to its large silica producers, the availability of raw materials, and cheap labor.
- Countries like Japan, Thailand, and India are also posing optimistic scenarios about the demand for solar-grade polysilicon, thereby driving the demand for trichlorosilane in the region.
Key Players
It would be fair to say that the market is moderately consolidated, with few players contributing significantly. The leading players in the industry contend with several critical factors, including pricing strategies, service portfolios, regional presence, and other governing parameters. The following are the key players in the trichlorosilane market. These big players often engage in mergers and acquisitions as a critical strategy to enhance their portfolios and regional presence.
Here is the list of the Top Players (Based on Dominance)
- Sanfu Co. Ltd.
- Wacker Chemie AG
- Chenguang New Materials
- Zhejiang Xinan Chemical Group Co. Ltd.
- OCI Holdings Company
- Asia Silicon
- Tokuyama Corporation
- Elkem ASA
- Hubei New Blue Sky New Materials Co., Ltd
- GCL Technology Holdings Ltd.
- Evonik Degussa AG
- KCC (Momentive Performance Materials)
- Shin-Etsu Chemical Co. Ltd.
- Gelest Inc.
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
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Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the Trichlorosilane Market
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How lucrative is the future?
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The market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market segment analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirement?
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10% free customization
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Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s trichlorosilane market realities and future market possibilities for the forecast period.
- The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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