New York, United States, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The Global Trichlorosilane Market Size is expected to grow from USD 5.2 billion in 2021 to USD 13.5 billion by 2030, at a CAGR of 11.2% during the forecast period 2021-2030. as per the latest research report by Spherical Insights & Consulting. The Asia Pacific is expected to grow the fastest during the forecast period.
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The report identifies that the demand for products used in the production of polycrystalline silicon for the solar sector is predicted to increase as consumer knowledge of the value of using alternative, non-conventional sources of energy, such as solar energy, rises. Trichlorosilane demand for the production of polycrystalline silicon is projected to increase due to growing worries about the depletion of conventional energy sources and rising consumer awareness of environmental sustainability. Over the course of the projected period, rising demand for polycrystalline silicon from the solar industry ought to boost product demand and encourage the expansion of the trichlorosilane market
Browse key industry insights spread across 192 pages with 119 market data tables and figures & charts from the report “Global Trichlorosilane Market Size, Share, and COVID-19 Impact Analysis, By Production Process (Direct Chlorination and Hydrochlorination), By Application (Polycrystalline Silicon and Silane Coupling Agent), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 ” in detail along with the table of contents
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Low trichlorosilane production costs, good production efficacy, and growing technological advancements in the hydrochlorination (HC) production method ought to promote market demand.
Hydrochlorination trichlorosilane is anticipated to observe a growth of 11.8% during the forecast period. The market is expanding as a result of producers of trichlorosilane making more attempts to create highly efficient and affordable trichlorosilane production techniques that can produce more products, which opens the door for further investment in trichlorosilane production. Additionally, this newly created technology optimises the utilisation of auxiliary machinery, pipelines, structures, valves, and instruments for the manufacturing of trichlorosilane, which further aids in lowering total production costs. The hydrochlorination (HC) process' high production efficiency is anticipated to further draw manufacturers' attention to the adoption of this cutting-edge technology, which will in turn help the worldwide trichlorosilane market growth over the coming years.
Demand for silane coupling agents should increase due to increased demand from a variety of applications, such as surface treatment and modification, adhesives, paints and coatings, and resin modifications, among others.
The trichlorosilane market from silane coupling agents is projected to grow at 12.2% gains through 2030. The need for silane coupling agents for surface treatment of various materials is anticipated to increase due to their remarkable properties, which include heat resistance, water resistance, weather ability, and enhanced durability of resins, among others. Additionally, silane coupling agents are increasingly in demand for use in a variety of resin modification applications, including the modification of epoxy resin in electronic micro components, styrene-butadiene rubber in tyres, and phenolic resin in grinders and moulds. One of the main basic ingredients utilised in the creation of silane coupling agents is trichlorosilane.
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North America region emerges as a prominent revenue pocket
North America’s trichlorosilane market accounted for USD 1.5 billion in 2021. The market for trichlorosilane in the North American region has been expanding due to the region's solar photovoltaic cells' increased efficiency as a result of increased efforts by solar producers. the area. It is anticipated that consumer acceptability of solar systems will rise as a result of growing consumer knowledge of the unfavorable environmental effects of rising carbon dioxide emissions caused by the use of conventional fossil fuels, such as coal, oil, and natural gas, for generating power. Over the forecast period, there should be an increase in demand for trichlorosilane from solar applications due to the rising demand for solar equipment and the placement of solar photovoltaic installations in smaller configurations on the mini grids to provide electricity to residential areas on a large scale.
Key Companies & Recent Developments
The strategic landscape of the trichlorosilane industry will observe a rise in the demand for production techniques for polycrystalline silicon. Polycrystalline silicon is used as a raw material in the electronics sector to create electrical gadgets. In addition, it is employed in the production of several other industrial compounds. A monomer called trichlorosilane is used to create silicone-based adhesives and polymers.
Key participants operating in the trichlorosilane market are American Elements, Wynca Group, SIAD Spa, Evonik Industries, Gelesa Inc., Wacker Chemie AG, Dow Inc., Linde AG, OCI Company Ltd., Mitsubishi Polycrystalline Silicon America Corporation, SIAD S.p.A., and Tokuyama Chemicals (Zhejiang) Co., Ltd.
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