Nine of the Ten Largest Polysilicon Manufacturers Come From China: Wacker Remains the Only Western Polysilicon Producer
Würzburg (Germany) - Nine of the ten largest polysilicon manufacturers worldwide are based in China. This is shown in the Polysilicon Market Outlook 2029 by Bernreuter Research, which analyzes the market shares and production capacities of the leading producers.
"The Chinese polysilicon industry reached a share of 93.5% in the global output of 2024. This dominance is also reflected in the ranking of the world’s largest manufacturers,” says Johannes Bernreuter, author of the Polysilicon Market Outlook 2029 and head of Bernreuter Research.
At the top of the ranking since 2022 are the four Chinese companies Tongwei, GCL Technology, Daqo New Energy, and Xinte Energy. Together, they achieved a market share of 65 percent in 2024. They also built two-thirds of the new production capacities in China between 2020 and 2024. “Therefore, it is no wonder that the top four also accumulated two thirds of the huge inventories at Chinese polysilicon manufacturers by the end of 2024,” Bernreuter explained.
German chemical company Wacker is the only non-Chinese manufacturer among the top ten. The former global market leader from 2016 to 2019 dropped from fifth place in 2022 to eighth place in 2024. Considering the planned consolidation of the Chinese polysilicon industry through an acquisition fund, Bernreuter Research sees good chances that Wacker will remain in the top-ten ranking at least until 2027. The prerequisite for this, according to Bernreuter, is that the PV market in the United States—the main target market for solar modules made from non-Chinese polysilicon—recovers from the tough stance of the Trump administration against renewable energy. Additionally, once the EU regulation against forced labor comes into force in December 2027, Wacker could benefit from increased European demand for solar modules made from non-Chinese polysilicon.
Among the new Chinese entrants, Qinghai Lihao and Hongyuan Energy have overtaken the former non-Chinese manufacturers Hemlock Semiconductor (USA) and OCI (South Korea/Malaysia). Lihao reached fifth place in 2024, Hongyuan ninth place, and both companies are pursuing a fully integrated value chain from polysilicon production to module assembly.
The report by Bernreuter Research also includes detailed production figures, market shares, and forecasts for polysilicon prices through 2029.
Source: IWR Online, 27 Nov 2025
