The latest rankings of the the top polysilicon manufacturers in the world show that nine of the Top 10 are based in China.
GCL polysilicon plant in Leshan (Sichuan province), one of GCL’s four production bases. Credit: GCL Technology
“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,” said Johannes Bernreuter, author of the Polysilicon Market Outlook 2029 and head of Bernreuter Research.
Since 2022, the top four positions in the ranking have been occupied by the Chinese quartet of Tongwei, GCL Technology, Daqo New Energy and Xinte Energy, with no challenger in sight.
The top four manufacturers not only achieved a combined market share of 65% in 2024, they are also responsible for the lion’s share of overcapacity in China. Two-thirds of the new capacity between 2020 and 2024 was built by Tongwei, GCL, Daqo and Xinte. “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 said.
Wacker is the only remaining non-Chinese representative among the Top 10. The Germany-based chemicals group, which was the world’s largest polysilicon manufacturer from 2016 through 2019, fell from fifth place in 2022 back to eighth in 2024.
In view of the planned consolidation of the Chinese polysilicon industry through an acquisition fund, Bernreuter Research sees a good chance that Wacker will remain in the Top 10 ranking at least through 2027. However, this prediction assumes that the PV market in the United States, the main destination of solar modules made of non-Chinese polysilicon, recovers from anti-renewables legislation from the Trump administration.
After the regulation of the European Union on forced labor comes into effect in December 2027, Wacker could benefit from increased European demand for solar modules made of non-Chinese polysilicon.
Of the formerly three non-Chinese manufacturers in the Top 10, Hemlock Semiconductor (United States) and OCI (South Korea/Malaysia) dropped out of the ranking in 2023 when the threshold for the tenth largest producer rose to an annual output of 60,000 metric tons. In 2024 Hemlock landed at 14th place, and OCI at 16th.
Both manufacturers have been surpassed by new Chinese entrants, Qinghai Lihao and Hongyuan Energy. Lihao already entered the ranking in the second year of its operation in 2023; due to a rapid expansion, it secured the fifth place in 2024. Hongyuan came in ninth in 2024. With its complete integration from polysilicon production through to solar module assembly, the company is a mini version of market leader Tongwei.
This latest ranking from Bernreuter Research is based on actual polysilicon output in 2024. Listed numbers are production capacity.
- Tongwei (Sichuan, Inner Mongolia, Yunnan) – 910,000 MT
- GCL (Jiangsu, Sichuan, Inner Mongolia) – 480,000 MT
- Daqo (Xinjiang, Inner Mongolia) – 350,000 MT
- Xinte Energy (Xinjiang, Inner Mongolia) – 300,000 MT
- Lihao Qingneng (Qinghai) – 130,000 MT
- East Hope New Energy (Xinjiang, Ningxia Hui) – 335,000 MT (output did not reach this level)
- Asia Silicon (Qinghai) – 100,000 MT
- Wacker Chemie (Bavaria, Saxony – Germany; Tennessee – United States) – 80,000 MT
- Hongyuan Energy (Inner Mongolia) – 60,000 MT
- Goens Energy (Xinjiang) – 65,000 MT (output did not reach this level, and Goens suspended production in fall 2025)
