The global trichlorosilane market is likely to observe exponential growth by 2028 owing to rising demand for production of solar photovoltaics (PV). Additionally, the augmenting need for alternate energy sources because of depletion of fossil fuels is set to further drive market expansion over the forecast period.
Over the years, growing prominence of sustainable sources of energy as an alternative to conventional sources has propelled the demand for trichlorosilane for producing polycrystalline silicon, a crucial raw material in the solar PV and electronics sectors. The growing electronics industry, along with the increasing population and developing economies, has significantly contributed to the expansion of the trichlorosilane market in key regions globally.
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Trichlorosilane, a chemical compound consisting of hydrogen, silicon, and chlorine, is decomposed to produce silicon at high temperatures. Purified trichlorosilane is the main source of ultrapure silicon in the semiconductor industry.
Notably, beneficial features of silicon resin like weatherability and good heat resistance have increased its demand amongst various industries like transportation, construction, electronics, and others. Moreover, the application of silane coupling agents for modification and surface treatment across grinders, wire coverings, tires, and others is driving the demand for trichlorosilane in the manufacturing of these agents.
Furthermore, to increase the yield of semiconductor and solar grade polycrystalline silicon processes novel ideas and technical solutions are being analyzed. Currently, the main polycrystalline silicon technology is the Siemens process, which involves the conversion of technical grade silicon to trichlorosilane followed by hydrogen reduction and rectification. However, the cost of the silicon product can be reduced by bringing down the price of trichlorosilane synthesis via the improvement of equipment and processes, which is also fostering product outlook.
Overall, the global trichlorosilane market has been classified on the basis of application, production process, and region. With reference to application, the market has been bifurcated into polycrystalline silicon, silane coupling agent, and others. The others segment recorded a valuation of over USD 75 million in the global trichlorosilane market in 2021 and is anticipated to observe considerable growth through 2028, depicting a CAGR of more than 9.8% over the forecast timeline.
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From the regional standpoint, the Latin America trichlorosilane industry reached a valuation of about USD 80 million in 2021 and is primed to expand at a CAGR of roughly 8.4% through the study time period. Meanwhile, the Middle East & Africa trichlorosilane market is expected to surpass USD 135 million in revenue by 2028, growing at approximately 8.5% CAGR between 2022 and 2028.