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Multicrystalline Silicon Market Size, Share and Forecast 2026-2036

The global multicrystalline silicon market is worth USD 1.6 bn in 2026 and is forecast to reach USD 1.7 bn by 2036, growing at a 0.5% CAGR. China is the largest country market and Wafers is the largest by form segment.

USD 1.6 bnMarket size 2026
USD 1.7 bnForecast 2036
0.5%CAGR 2026-2036
ChinaLargest country

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5 segmentation views25 countries2026 to 2036 yearly forecast

Market overview

The global multicrystalline silicon market is worth USD 1.6 bn in 2026 and is forecast to reach USD 1.7 bn by 2036, growing at a 0.5% CAGR. China is the largest country market and Wafers is the largest by form segment.

ScopeMulticrystalline silicon ingots and wafers produced by directional solidification for lower-cost solar cells.
IndustryChemicals and Materials
Value 2025USD 1.6 bn
Value 2026USD 1.6 bn
Value 2036USD 1.7 bn
CAGR 2026-20360.5%
Volume 2026121,818 tonnes
Volume 2036141,586 tonnes
Average price 2026USD 13,200 per tonne
Report priceStarts from USD 1,999
PublishedNovember 2026

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Multicrystalline Silicon market size and forecast, 2026-2036

Exhibit 1The global multicrystalline silicon market is forecast to grow from USD 1.6 bn in 2026 to USD 1.7 bn by 2036, a rise of 5%Global market value in USD: 2025 base year, 2026 estimate and forecast to 2036. CAGR 2026 to 2036: 0.5%
Multicrystalline Silicon market value, 2025 to 2036Market value by year. 2025: USD 1.600 bn; 2026: USD 1.608 bn; 2027: USD 1.616 bn; 2028: USD 1.624 bn; 2029: USD 1.632 bn; 2030: USD 1.640 bn; 2031: USD 1.649 bn; 2032: USD 1.657 bn; 2033: USD 1.665 bn; 2034: USD 1.673 bn; 2035: USD 1.682 bn; 2036: USD 1.690 bn. Compound annual growth rate 2026 to 2036: 0.5%.20251.608 bn20261.649 bn20311.690 bn20360.5% CAGR

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

YearMarket value
2026USD 1.608 bn
2027USD 1.616 bn
2028USD 1.624 bn
2029USD 1.632 bn
2030USD 1.640 bn
2031USD 1.649 bn
2032USD 1.657 bn
2033USD 1.665 bn
2034USD 1.673 bn
2035USD 1.682 bn
2036USD 1.690 bn

Multicrystalline Silicon market segmentation

By form

Exhibit 2Wafers is the largest segment by form, with 60.0% of 2026 revenueEstimated share of 2026 global revenue, by form
Multicrystalline Silicon market share by form, 2026Share of 2026 revenue by form. Wafers: 60.0%; Ingots and bricks: 30.0%; Cast feedstock and scrap grade: 10.0%.Wafers60.0%Ingots and bricks30.0%Cast feedstock and scrap grade10.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Ingots and bricks30.0%30.0%USD 482 mn0.5%
Wafers60.0%60.0%USD 965 mn0.5%
Cast feedstock and scrap grade10.0%10.0%USD 161 mn0.5%

By use

Exhibit 3Solar cells adds the most revenue by use, growing from USD 1.4 bn in 2026 to USD 1.4 bn by 2036Estimated revenue in USD by use, 2026 and 2036 forecast
Multicrystalline Silicon market by use, 2026 and 2036Revenue by use in 2026 and 2036. Solar cells: USD 1.4 bn in 2026, USD 1.4 bn in 2036, change +5%; Electronics: USD 129 mn in 2026, USD 142 mn in 2036, change +10%; Other: USD 96 mn in 2026, USD 101 mn in 2036, change +5%.20262036 forecastChangeSolar cells+5%1.4 bn1.4 bnElectronics+10%129 mn142 mnOther+5%96 mn101 mn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Solar cells86.0%85.7%USD 1.4 bn0.5%
Electronics8.0%8.4%USD 129 mn1.0%
Other6.0%6.0%USD 96 mn0.5%

By cell technology

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Al-BSF36.0%28.0%USD 579 mn-2.0%
PERC54.0%50.0%USD 868 mn-0.3%
Other cell types10.0%22.0%USD 161 mn8.7%

By wafer size

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
156 to 158 mm32.0%20.0%USD 515 mn-4.1%
166 mm38.0%36.0%USD 611 mn-0.04%
182 mm and larger30.0%44.0%USD 482 mn4.4%

By buyer

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Cell makers58.0%56.0%USD 933 mn0.1%
Module makers28.0%28.0%USD 450 mn0.5%
Traders and others14.0%16.0%USD 225 mn1.9%

Top 25 countries for multicrystalline silicon by revenue

Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 97.0% of 2026 revenue and the 25 countries below together hold 99.3%.

Exhibit 4China is the largest country market at USD 997 mn in 2026, and the three largest countries hold 79.0% of global revenueEstimated 2026 revenue in USD and share of the global market, ten largest countries
Multicrystalline Silicon market, ten largest countries in 2026Ten largest countries by 2026 revenue. China: USD 997 mn, 62.0%; India: USD 193 mn, 12.0%; Vietnam: USD 80 mn, 5.0%; Taiwan: USD 64 mn, 4.0%; South Korea: USD 48 mn, 3.0%; Thailand: USD 48 mn, 3.0%; Japan: USD 32 mn, 2.0%; Malaysia: USD 32 mn, 2.0%; Germany: USD 32 mn, 2.0%; United States: USD 32 mn, 2.0%.China997 mn 62.0%India193 mn 12.0%Vietnam80 mn 5.0%Taiwan64 mn 4.0%South Korea48 mn 3.0%Thailand48 mn 3.0%Japan32 mn 2.0%Malaysia32 mn 2.0%Germany32 mn 2.0%United States32 mn 2.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

#CountryValue 2026Share 2026Value 2036CAGR 2026-36
1ChinaUSD 997 mn62.0%USD 1.0 bn0.5%
2IndiaUSD 193 mn12.0%USD 203 mn0.5%
3VietnamUSD 80 mn5.0%USD 85 mn0.5%
4TaiwanUSD 64 mn4.0%USD 68 mn0.5%
5South KoreaUSD 48 mn3.0%USD 51 mn0.5%
6ThailandUSD 48 mn3.0%USD 51 mn0.5%
7JapanUSD 32 mn2.0%USD 34 mn0.5%
8MalaysiaUSD 32 mn2.0%USD 34 mn0.5%
9GermanyUSD 32 mn2.0%USD 34 mn0.5%
10United StatesUSD 32 mn2.0%USD 34 mn0.5%
11TurkeyUSD 5.8 mn0.4%USD 6.6 mn1.3%
12IndonesiaUSD 4.7 mn0.3%USD 5.2 mn1.2%
13PakistanUSD 4.0 mn0.2%USD 4.6 mn1.3%
14BrazilUSD 3.5 mn0.2%USD 3.4 mn-0.5%
15MexicoUSD 2.9 mn0.2%USD 2.9 mn-0.07%
16PhilippinesUSD 2.6 mn0.2%USD 2.9 mn1.1%
17SpainUSD 2.2 mn0.1%USD 2.2 mn-0.2%
18ItalyUSD 2.1 mn0.1%USD 2.0 mn-0.3%
19FranceUSD 1.9 mn0.1%USD 1.9 mn-0.4%
20BangladeshUSD 1.6 mn0.1%USD 1.9 mn1.5%
21EgyptUSD 1.4 mn0.09%USD 1.5 mn0.5%
22South AfricaUSD 1.1 mn0.07%USD 1.2 mn0.5%
23Saudi ArabiaUSD 0.96 mn0.06%USD 1.2 mn2.1%
24AustraliaUSD 0.96 mn0.06%USD 0.85 mn-1.3%
25PolandUSD 0.80 mn0.05%USD 0.85 mn0.5%
Rest of worldUSD 12 mn0.7%USD 12 mn0.07%
Exhibit 5China and India account for 74% of the USD 82 mn the market is forecast to add by 2036Forecast revenue added between 2026 and 2036 by country, in USD
Multicrystalline Silicon market, where the growth to 2036 comes fromRevenue added between 2026 and 2036. Market value 2026: USD 1.6 bn. China: +USD 51 mn; India: +USD 9.9 mn; Vietnam: +USD 4.1 mn; Taiwan: +USD 3.3 mn; South Korea: +USD 2.5 mn; 20 other countries: +USD 11 mn; Rest of world: +USD 80 thousand. Market value 2036: USD 1.7 bn.China+51 mnIndia+9.9 mnVietnam+4.1 mnTaiwan+3.3 mnSouth Korea+2.5 mn20 other countries+11 mnRest of world+80 thousand

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

Competitive landscape

Group 1: Global leaders

  • GCL Technology
  • Jinko Solar
  • JA Solar
  • Trina Solar
  • Shuangliang Eco-Energy

Group 2: Regional and specialist players

  • Yingli Green Energy
  • ReneSola
  • Hanwha Q Cells
  • Zhejiang Yuhui Solar
  • Sino-American Silicon Products

Group 3: Emerging and niche players

  • Photowatt
  • Meyer Burger
  • Jetion Solar

Research methodology

Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the multicrystalline silicon market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.

The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 0.5% is calculated from the resulting values.

The market is divided by form, by use, by cell technology, by wafer size, by buyer. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.

Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.

Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.

Read the full research methodology

Frequently asked questions

How big is the multicrystalline silicon market?

The global multicrystalline silicon market is estimated at USD 1.6 bn in 2025 and USD 1.6 bn in 2026.

How fast will the multicrystalline silicon market grow?

It is forecast to reach USD 1.7 bn by 2036, a compound annual growth rate of 0.5% from 2026, an increase of USD 82 mn.

Which country is the largest market for multicrystalline silicon?

China is the largest market by revenue at USD 997 mn in 2026, 62.0% of the global total. The three largest countries together hold 79.0%.

Which country is growing fastest?

Among the ten largest markets, China is growing fastest at 0.5% a year from 2026 to 2036.

Which multicrystalline silicon segment is largest?

In the by form split, Wafers is the largest segment with 60.0% of 2026 revenue.

Who are the leading multicrystalline silicon companies?

Global leaders include GCL Technology, Jinko Solar, JA Solar, Trina Solar.

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