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Value Chain Activity: Manufacturing Chemicals for Solar Industry

The manufacturing of photovoltaic modules, thermal receivers and reflectors requires a number of chemicals and materials for coatings, laminates, photovolatic materals and solar glass. This part of the value chain is a profitable business, evidenced by new entrants from non-polysilicon producing companies, i.e. companies that with no traditional ties to the solar industry.


Here is a list of a selection of companies, which highlights the diversity of companies involved from start-up to established companies that diversify their portfolio.

Name Country Comments Market Cap in € millions Gross margin TTM
Chemical companies that also produce polysilicon
USA Hydrocarbon & Energy are 16% of total sales. Dow Corning owns Hemlock, the largest polysilicon producer.
USA Sell metallurgical-grade silicon. Will offer solar-grade silicon soon. Also sell by-products € 2.97 27.02%
Japan Gasses and laminates. € 2,923.00
South Korea Producer of high-purity 9N polysilicon. Capacity: 5,000t (2008) to rise to 26,000t (2010). Based on Siemens process. € 2,305.00
Japan Produces polysilicon and by-products as well as titanium products. € 1,062.00 38.00%
Japan Increase production capacity from 5,200 to 8,200 in spring 2009 € 1,501.00
Germany Second largest poly-silicon producer. Produce wafers thru subsidiary Siltronics € 4,503.00 26.15%
Companies that do not produce polysilicon
Canada Produces high purity metals such as CdTe, CdS. Manufacturing facility in Germany. Supplies First Solar and others. Also recycling € 169.00 53.21%
USA Gases, chemicals & regeneration of Si € 351.00 44.80%
USA Coatings, Dopants, gases, chemicals management
Italy Laminates
Japan Produces ribbon wires for Si- cells and dust for thin film JPY304
China Backsheets for solar modules
Germany Supplies gasses for pv manufacturing process. "Linde Gas" is a leading provider of gasses for all industries. € 9,964.00 31.68%
Germany Aluminium, PVC, solar glass
Japan World's leading silicon wafer manufacturer. Also produces compounds such as GaAs
USA Startup company developing Ge substrates
Canada Supplies all raw materials for solar cell / thin film processing. Supplies poly-silicon, but does not produce it.
Russia Largest aluminium producer in the world. For solar market produces metallurgical grade silicon and gallium.


Downloads: Download comprehensive list of ingot & wafer producers including financial ratios, revenues and other information.


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