Solar Photovoltaic Wafer Market Forecast By End-use Industry 2017-2027

Solar Photovoltaic Wafer Market
Solar Photovoltaic Wafer Market

Solar modules made from wafers of crystalline silicon have been the dominant technology in terrestrial photovoltaic. A slab or solar photovoltaic wafer is used to create a photovoltaic cell. More than 85% of solar cells currently made worldwide consist of wafer-based silicon cells. The wafer is subjected to high temperature in the presence of phosphorous oxychloride to induce into it the physical properties required to produce electricity. The top of the solar photovoltaic wafer is coated with an anti-reflective material like silicon nitride to increase the light absorption capacity by minimizing the reflection. The solar photovoltaic wafer industry is anticipated to grow at a significant CAGR over the forecast period.

Global solar photovoltaic wafer: Market Drivers

The global solar photovoltaic wafer market is being driven by the increasing usage of solar power in various applications like electric vehicles, etc. The demand for highly efficient solar photovoltaic wafers needed to recharge electric vehicle battery can prove to be a major factor responsible for the growth of the global solar photovoltaic wafer market. Moreover, technological developments taking place in the electrical and electronics sector have led to an increase in demand for solar based energy.

Another important factor driving the global solar photovoltaic wafer market are the numerous advantages offered by solar photovoltaic wafers. For instance, solar photovoltaic wafers offer better durability and longevity. The solar photovoltaic wafers are also more efficient in comparison to the other alternatives available in the market. All of these factors, combined together, will continue to affect the market positively during the forecast period.

Global solar photovoltaic wafer: Market Restraints

Solar photovoltaic wafer based photovoltaic panels are costlier than thin film photovoltaic panels. This factor, in particular, might restrain the growth of the market in near future.

Global solar photovoltaic wafer: Market Trends

These days, manufacturers are focusing on decreasing the overall thickness of the wafer used in solar cell manufacturing. Using thinner wafers would reduce the overall cost of the raw material used as manufacturers will be able to cut higher number of wafers from a single brick. The major focus of manufacturers is reducing the production cost, which they are trying to achieve by reducing waste production during polysilicon crystallization, recycling saw dust and improving material handling during the production process.

Global solar photovoltaic wafer: Market Segmentation

The global solar photovoltaic wafer market can be segmented on the basis of material type and region

  • Monocrystalline wafer
  • Multicrystalline wafer/Polycrystalline wafer

Global solar photovoltaic wafer: Market Regional Outlook

The global market for solar photovoltaic wafers is being dominated by the Asia Pacific region. China is the largest manufacturer of solar photovoltaic wafers. A number of big manufacturers across the value chain of the global photovoltaic wafer market are essentially China-based players. It is most likely that North America, Europe and Japan will continue to hold a significant share in the global solar photovoltaic wafer market over the forecast period. Middle East and Africa is expected to show steady growth over the forecast period. The overall global solar photovoltaic wafer market is projected to expand at a moderate CAGR over the forecast period.

Global solar photovoltaic wafer: Market Participants

Targray Technology International Inc, Lanco Solar, , LDK Solar, Renewable Energy Corporation (REC), Solarworld, MEMC Electronic Materials, Inc. and Nexolon Co., Ltd.

GCL-Poly Energy Holdings Limited , Zhonghuan Semiconductor Corporation, Renesola, Comtec Solar, Green Energy Technology, Sino-American Silicon Products Inc. (SAS), JA Solar, Wuxi Suntech Power Co., Ltd., Jinko Solar, Yingli Green Energy Holding Company Limited (Yingli Solar) and Xi’an LONGi Silicon Materials Corp.

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Yogesh Sengar is an experienced digital marketing professional. He tracks the latest trends and happenings in the digital marketing landscape, also offering his opinion on their impact on businesses. He has experience in both B2C and B2B markets. His hobbies include reading books and travelling.