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.
| Scope | Multicrystalline silicon ingots and wafers produced by directional solidification for lower-cost solar cells. |
|---|---|
| Industry | Chemicals and Materials |
| Value 2025 | USD 1.6 bn |
| Value 2026 | USD 1.6 bn |
| Value 2036 | USD 1.7 bn |
| CAGR 2026-2036 | 0.5% |
| Volume 2026 | 121,818 tonnes |
| Volume 2036 | 141,586 tonnes |
| Average price 2026 | USD 13,200 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Multicrystalline Silicon market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 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 |
Multicrystalline Silicon market segmentation
By form
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Ingots and bricks | 30.0% | 30.0% | USD 482 mn | 0.5% |
| Wafers | 60.0% | 60.0% | USD 965 mn | 0.5% |
| Cast feedstock and scrap grade | 10.0% | 10.0% | USD 161 mn | 0.5% |
By use
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Solar cells | 86.0% | 85.7% | USD 1.4 bn | 0.5% |
| Electronics | 8.0% | 8.4% | USD 129 mn | 1.0% |
| Other | 6.0% | 6.0% | USD 96 mn | 0.5% |
By cell technology
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Al-BSF | 36.0% | 28.0% | USD 579 mn | -2.0% |
| PERC | 54.0% | 50.0% | USD 868 mn | -0.3% |
| Other cell types | 10.0% | 22.0% | USD 161 mn | 8.7% |
By wafer size
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| 156 to 158 mm | 32.0% | 20.0% | USD 515 mn | -4.1% |
| 166 mm | 38.0% | 36.0% | USD 611 mn | -0.04% |
| 182 mm and larger | 30.0% | 44.0% | USD 482 mn | 4.4% |
By buyer
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Cell makers | 58.0% | 56.0% | USD 933 mn | 0.1% |
| Module makers | 28.0% | 28.0% | USD 450 mn | 0.5% |
| Traders and others | 14.0% | 16.0% | USD 225 mn | 1.9% |
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%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 997 mn | 62.0% | USD 1.0 bn | 0.5% |
| 2 | India | USD 193 mn | 12.0% | USD 203 mn | 0.5% |
| 3 | Vietnam | USD 80 mn | 5.0% | USD 85 mn | 0.5% |
| 4 | Taiwan | USD 64 mn | 4.0% | USD 68 mn | 0.5% |
| 5 | South Korea | USD 48 mn | 3.0% | USD 51 mn | 0.5% |
| 6 | Thailand | USD 48 mn | 3.0% | USD 51 mn | 0.5% |
| 7 | Japan | USD 32 mn | 2.0% | USD 34 mn | 0.5% |
| 8 | Malaysia | USD 32 mn | 2.0% | USD 34 mn | 0.5% |
| 9 | Germany | USD 32 mn | 2.0% | USD 34 mn | 0.5% |
| 10 | United States | USD 32 mn | 2.0% | USD 34 mn | 0.5% |
| 11 | Turkey | USD 5.8 mn | 0.4% | USD 6.6 mn | 1.3% |
| 12 | Indonesia | USD 4.7 mn | 0.3% | USD 5.2 mn | 1.2% |
| 13 | Pakistan | USD 4.0 mn | 0.2% | USD 4.6 mn | 1.3% |
| 14 | Brazil | USD 3.5 mn | 0.2% | USD 3.4 mn | -0.5% |
| 15 | Mexico | USD 2.9 mn | 0.2% | USD 2.9 mn | -0.07% |
| 16 | Philippines | USD 2.6 mn | 0.2% | USD 2.9 mn | 1.1% |
| 17 | Spain | USD 2.2 mn | 0.1% | USD 2.2 mn | -0.2% |
| 18 | Italy | USD 2.1 mn | 0.1% | USD 2.0 mn | -0.3% |
| 19 | France | USD 1.9 mn | 0.1% | USD 1.9 mn | -0.4% |
| 20 | Bangladesh | USD 1.6 mn | 0.1% | USD 1.9 mn | 1.5% |
| 21 | Egypt | USD 1.4 mn | 0.09% | USD 1.5 mn | 0.5% |
| 22 | South Africa | USD 1.1 mn | 0.07% | USD 1.2 mn | 0.5% |
| 23 | Saudi Arabia | USD 0.96 mn | 0.06% | USD 1.2 mn | 2.1% |
| 24 | Australia | USD 0.96 mn | 0.06% | USD 0.85 mn | -1.3% |
| 25 | Poland | USD 0.80 mn | 0.05% | USD 0.85 mn | 0.5% |
| Rest of world | USD 12 mn | 0.7% | USD 12 mn | 0.07% |
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.
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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