Chlorosilane industry for Solar Grade Silicone is anticipated to register 23% CAGR between 2022 and 2028 due to increasing adoption of clean green energy along with high demand & production of solar panels.
Selbyville, Del., May 03, 2022 (GLOBE NEWSWIRE) — The chlorosilane market value for solar grade silicone is projected to reach USD 29.5 billion by 2028, according to a new research report by Global Market Insights Inc. Increasing cost of fossil fuels coupled with growing consumer awareness towards solar energy will drive the market expansion.
Other product type segment exceeded USD 460 million in 2021 and predicted to expand at 25.5% CAGR through 2028. Other types of chlorosilanes like trimethylchlorosilane, dimethyldichlorosilane, and methyltrichlorosilane, among others are likely to witness healthy growth over the forecast period owing to the increasing efforts by polysilicon manufacturers to use different types of chlorosilanes for manufacturing solar grade silicon.
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The rapid growth of solar industry coupled with rising solar photovoltaic systems will augment the chlorosilane market revenue for solar grade silicone. Moreover, increasing targets for reducing greenhouse gas emissions set by governments of different countries and corporate clean energy targets set out by different companies is estimated to increase the product demand.
Some major findings of the chlorosilane market for solar grade silicone report include:
Increasing investment in the solar PV and solar industry manufacturing industry owing to growing industrialization and global warming is likely to boost business landscape.
Dimethylchlorosilanes segment is anticipated to cross USD 3.70 billion by 2028 due to growing demand for solar photovoltaic modules and systems in both residential as well as commercial spaces.
North America market was valued at USD 1.01 billion in 2021 and is expected to grow at a CAGR of 24% through 2028 owing to increasing environmental awareness and growing focus of government towards clean energy generation.
Browse key industry insights spread across 165 pages with 60 market data tables and 41 figures & charts from the report, “Chlorosilane Market for Solar Grade Silicone by Product (Methylchlorosilanes, Dimethylchlorosilanes, Tetrachlorosilanes, Trichlorosilanes), Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Europe chlorosilane market for solar grade silicone is poised to exhibit a CAGR of 22.5% during the analysis period. Owing to the growing awareness regarding the need to environmental pollution and increasing efforts by manufacturers to embrace sustainable methods of production using renewable sources of energy such as solar energy. Growing use of solar energy in the energy & power sectors will propel the regional market progression.
Solar PV cells, including solar thermal power plants and rooftop panels use sunlight for electricity generation. The commercial and residential buildings in the country use solar heating systems to heat water and the building. Therefore, increasing dependency on solar power generation is projected to accelerate the regional business statistics.
Major market players operating in the Chlorosilane Market for Solar Grade Silicone include Wacker Chemie AG, The Dow Chemical Company, Dow Inc., Evonik, Chemcon Specialty Chemicals, and Zhejiang Xinan Chemical Industrial Group Co., Ltd. (Wynca Group).
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