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PRLog (Press Release) – Dec 20, 2010 – From an emerging fuel source 20 years ago, the availability of more effective and reliable equipment and machinery has enabled solar PV to be transformed into a commercial energy generating technology, in over forty countries. The global solar PV market is expanding rapidly, with PV installations growing by 57% in 2010 over 2009. Global solar PV installed capacity increased at a compound annual growth rate (CAGR) of 40.1% from 1,761 MW (megawatts) in 2001 to 36,712 MW in 2010, of which 13.3 GW is expected to be added in 2010.
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The global silicon industry has continued to grow rapidly, with solar being the major application area. The US and China are the major producers of silicon in the world, accounting for over 50% of the total production capacity in 2009-2010. The global silicon production capacity has been increasing year by year, from 32,500 metric tons (MT) in 2004 to 232,697 MT in 2010 at a CAGR of 38%.
The global solar PV silicon market revenues grew from an estimated $1.71 billion in 2004 to $6.49 billion in 2008 due to increasing average price per kg of silicon as there was shortage of supply. However, the financial crisis in 2009 had a negative impact on the demand for silicon as investment flow into the PV industry was affected. The stimulus packages and other government support programs continued to show positive results and the markets recovered from the second quarter of 2010. The silicon industry’s market revenues will increase from an estimated $6.29 billion in 2010 to $7.89 billion by 2015, at a CAGR of 4.9%. The revenue growth rate fell from 24% CAGR in the historical period (2004-2010) as there was a significant fall in prices due to high supply and low demand. It is expected that the polysilicon market will stabilize over the forecast period (2010-2015) with lower prices of silicon feedstock.
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