PV Polysilicon and Wafering Industry – Supply Chain and Market Updates

The polysilicon mkt is very large at $12B in 2011.
Large unit volume growth over the past five years. At the same time, prices have dropped tremendously from the highs of 2008 impacting revs.
2012 is expected to decline substantially and from 2013 on, the markets are forecast to grow on more stable prices and higher shipments.

Polysilicon ramped capacity has grown extremely fast over the past six years.Capacity in 2012 is 10X what it was in 2006. 20% Y/Y growth in 2013: still a very large 80K tons/year new capacity!Production is (ramped capacity) – (factory utilization) – (yield loss).Production follows a similar trajectory as capacity, but is a lower value.……