From GlobeNewswire: 2025-06-28 09:20:00

The Solar Silicon Wafer Market was valued at USD 13.20 billion in 2023 and is expected to reach USD 32.58 billion by 2032, with a CAGR of 10.59%. The global shift towards renewable energy and technological innovations are driving market growth, especially in the U.S. market, estimated at USD 1.36 billion in 2023.

Monocrystalline wafers are becoming more competitive with increased efficiency and reduced production costs, thanks to advancements in cell technologies like PERC and TOPCon. Nations like China, India, and the United States are investing in domestic wafer manufacturing to scale back on imports and improve energy security.

Asia Pacific leads the solar silicon wafer market with a 64.7% share in 2023 and is projected for fast growth through 2032. China dominates the market, with companies like Longi Green Energy and Tongwei Co. Ltd., while India ramps up output under its PLI schemes. Southeast Asian countries are also contributing to supply chains.

Evolving trends in solar silicon wafers show that monocrystalline wafers hold a dominant market share due to efficiency and durability, while polycrystalline wafers are growing faster in developing regions. PV modules accounted for over 60.3% of the market in 2023, with solar cells projected to grow at a high CAGR due to advanced technologies.

Recent developments include Premier Energies and SAS announcing a joint venture to build a 2GW solar wafer plant in India, China investing in 40 GW of silicon wafer plants, and India disqualifying solar cells using imported blue wafers from domestic schemes. The solar silicon wafer market report covers market size, segments analysis, competitive landscape, regional analysis, and more.



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