May 03, 2022 05:15 ET | Source: Global Market Insights Inc. Global Market Insights Inc.
Selbyville, Delaware, 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 methyltrichlorosilanes, 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 boost the product demand.
Some major findings of the chlorosilane market for solar grade silicone report include:
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:
https://www.gminsights.com/industry-analysis/chlorosilane-market
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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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.