This report analyzes the worldwide markets for Polycrystalline Silicon in Metric Tons by the following end-use applications: Semiconductors, and Solar Cells. The report provides separate comprehensive analytics for US, Japan, Europe, Asia-Pacific, and Rest of World.  Annual estimates and forecasts are provided for the period 2009 through 2017. Also, a six-year historic analysis is provided for these markets. The report profiles 81 companies including many key and niche players such as GCL-Poly Energy Holdings Limited, Hemlock Semiconductor Group, LDK Solar, M. Setek Co. Ltd., MEMC Electronic Materials, Inc., Mitsubishi Polysilicon America Corporation, OCI Company Ltd., OSAKA Titanium technologies Co., Ltd., ReneSola, Renewable Energy Corp. ASA, Tokuyama Corporation, Wacker Chemie AG, and Yingli Green Energy Holding Company Limited. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

TABLE OF CONTENTS

POLYCRYSTALLINE SILICON 							MCP-6510
A GLOBAL STRATEGIC BUSINESS REPORT	


                                             
CONTENTS



  1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS                       1
      Study Reliability and Reporting Limitations                          1
      Disclaimers                                                          2
      Data Interpretation & Reporting Level                                3
       Quantitative Techniques & Analytics                                 3
      Product Definitions and Scope of Study                               3
       Polycrystalline Silicon                                             3

  2. INDUSTRY OVERVIEW                                                     4
      Market Outlook                                                       4
      Polycrystalline Silicon - An Introduction                            4
      Volatile Demand-Supply Scenario for Polysilicon                      5
       Production Far Exceeds Actual Demand                                6
        Table 1: Global Polysilicon Production Overview (2006-2012):
        Breakdown of Annual Capacity by Major Producing Countries -
        US, China, Korea, Germany, Japan and Italy (In Tons)
        (includes corresponding Graph/Chart)                               7
      Oversupply Situation to Persist                                      7
       Table 2: Oversupply Scenario for the Global Polysilicon
       Industry: A Comparative Analysis of Demand and Production for
       Years 2007 - 2013 (In Metric Ton) (includes corresponding
       Graph/Chart)                                                        8
      Imports Rise in China Amid Oversupply                                8
      Handful of Industry Majors Running the Show                          9
       Table 3: Global Polysilicon Market (2006-2011): Percentage
       Share Breakdown of Annual Production Capacity by Manufacturer
       Segmentation - Tier-I Companies, New Entrants and Others
       (includes corresponding Graph/Chart)                                10

       Table 4: Global Polycrystalline Silicon Market (2009 & 2010):
       Percentage Share Breakdown by Major Producers - Hemlock, OCI
       Company, Wacker, GCL-Poly, REC, LDK Solar MEMC, Tokuyama and
       Others (includes corresponding Graph/Chart)                         12
      Factors Influencing Market Growth                                    13

  3. MARKET TRENDS AND ISSUES                                              14
      Semiconductor Industry Dethroned as the Major End-User               14
      An Optimistic Future for the Major End-User Industry                 14
      New Comers Erode Market Share of Traditional Players                 14
      Siemens - The Widely Used Polysilicon Processing Technology          15
       Table 5: Global Polycrystalline Silicon Market (2005 & 2010):
       Percentage Share Breakdown by Production Technologies -
       Siemens, Fluid Bed Reactor (FBR), Met-Grade and Others
       (includes corresponding Graph/Chart)                                16
       Global Silicon Producers and Production Technologies Employed       16
      US - the Largest Producer of Polysilicon                             17
       Table 6: Global Polycrystalline Silicon Production (2008 &
       2010): Percentage Share Breakdown by Major Producing Regions
       (includes corresponding Graph/Chart)                                17
      China Focuses Mainly on Solar Grade Poly                             17
      Polysilicon Prices on a Roller-Coaster Ride                          18
       Long Term and Spot Prices of Polycrystalline Silicon                19
        Table 7: Global Polycrystalline Silicon Average Contract and
        Spot Prices (2004-2011) (includes corresponding Graph/Chart)       19
      Is the Huge Demand from Solar Industry Healthy?                      20
      Improving Utilization of Silicon                                     20
      Traditional Processing Technologies Losing Share to New
       Technologies                                                        20
      Downstream Companies Secure Raw Material Sources for Future          21
      Wafer Based Cells Losing Ground to Thin-Film Technology              21
       Table 8: Major PV Technologies - A Comparison of Market
       Shares in 2006 and 2010 (includes corresponding Graph/Chart)        21
       The Thin Film Alternative                                           22
        Table 9: Leading Thin-Film Material Based Solar Cell
        Developers in the World (2009): Percentage Share Breakdown
        by - First Solar, Uni-Solar, Kaneka, Mitsubishi, Sharp,
        Trony, Ersol, Honda Soltec, Wurth Solar and Schott (includes
        corresponding Graph/Chart)                                         22
      Recycling of Polysilicon                                             23
      Historical Demand Patterns of Polysilicon                            23

  4. THE GLOBAL PV INDUSTRY - AN OVERVIEW                                  24
      Figure: PV Industry Supply Chain                                     24
      Polysilicon Becoming Cheaper for the Solar Industry                  24
       Table 10: Cost Structure of a Polysilicon Based Photovoltaic
       System Percentage Share Comparison by Type for Years 2008 and
       2010 (includes corresponding Graph/Chart)                           25
       Supply Exceeds Demand in the Global Photovoltaic Industry           25
        Table 11: Global Photovoltaic Market Demand (2008):
        Percentage Share Breakdown by Geographic Regions - Spain,
        Germany, the United States, Rest of Europe, South Korea,
        Italy Japan and Rest of World (includes corresponding
        Graph/Chart)                                                       26

        Table 12: Global Wafer Production (2009): Percentage Share
        Breakdown by Suppliers - LDK Solar, REC (ScanWafer), Yingli
        Green Energy, ReneSola, Trina Solar, Kyocera, Sino-American
        Silicon, Waferworks, PV Crystalox, Green Energy Technology,
        Solarworld (Deutsche Solar), Space Energy, Schott Solar,
        Changzou Eging, Solargiga Energy, Bosch Solar Emergy, M
        Stetek, Motech Industries and Others (includes corresponding
        Graph/Chart)                                                       26
      China, the Largest Solar Cell Producer                               27
       Table 13: Global Solar Cell Production (2009): Percentage
       Share Breakdown by Major Producers - Q-Cells, First Solar,
       Suntech Power, Sharp, JA Solar, Kyocera, Yingli, Motech,
       SunPower, Sanyo and Others (includes corresponding
       Graph/Chart)                                                        27
      Prices of Solar Panels Fall in 2009 - A Recent Past Scenario         28
       Table 14: Global Solar Module Production (2009): Percentage
       Share Breakdown by Major Producers - Suntech, Sharp, Kyocera,
       FirstSolar, Sanyo, Yingli Green Energy, SolarWorld,
       Mitsubishi, BP Solar, SunPower and Others (includes
       corresponding Graph/Chart)                                          28
      Deeper Vertical Integration in the PV Industry to Control
       Polysilicon Production                                              28
      Future Demand Largely Depends on Governmental Intervention           28
      Downtrend Trend in Component Prices to Cause Changes in
       Industry Functioning                                                29
      Solar Energy to Increase its Share in the Global Energy
       Resource Proportion                                                 29
       Table 15: Global Energy Mix (2010): Percentage Share
       Breakdown by Energy Sources - Coal, Oil, Natural Gas,
       Nuclear, Hydro and Solar (includes corresponding Graph/Chart)       29
      Photovoltaic Cell Technologies                                       30
       Table 16: Photovoltaic Cell Technologies (2010): Percentage
       Breakdown by Technologies - Crystalline Silicon
       (Polycrystalline Silicon and Monocrystalline Silicon) and
       Thin Film (a-Si, Rubban, CdTe and CIS/ CIGS) (includes
       corresponding Graph/Chart)                                          30
      Governments Lend a Helping Hand                                      30

  5. PRODUCT OVERVIEW                                                      31
      Silicon-An Overview                                                  31
      Polycrystalline Silicon or Polysilicon                               31
      Solar Energy - Historical Background                                 32
      Silicon Processing                                                   32
       Refining of Silicon                                                 32
        Siemens Process                                                    33
         Trichlorisilane - The Main Feedstock Chemical                     33
        Fluidized Bed Reactor Method                                       33
         Major Differences Between Siemens and FBR Technologies            34
        Vapor-to-Liquid Deposition                                         34
       Ingots                                                              34
        Czochralski Method                                                 34
        Floating Zone Method                                               35
        Directional Solidification/Casting                                 35
        Sheet/Ribbon                                                       35
      Existing Versus Newer Technologies                                   35
      Silicon Wafers                                                       36
      Semiconductors                                                       36
      Solar Cells or Photovoltaic Cells                                    37
       Module and System                                                   38
      Working of Solar Cells                                               38
      Production Technology for Silicon Wafer-Based Photovoltaic
       Modules                                                             38
       Preparation of Wafers                                               38
       Creating P-N Junction                                               39
        N-Type                                                             39
        P-Type                                                             39
       Contact formation                                                   39
       Anti-Reflective Coating                                             40
       Module Assembly                                                     40
       Module Encapsulation                                                40

  6. RECENT INDUSTRY ACTIVITY                                              41
      MEMC and Samsung Fine Chemicals Set up a Joint Venture               41
      Hanwha to Establish Polysilicon Plant                                41
      Tokuyama to Expand Production Capacity                               41
      GT Solar Bags Order From OCI Company                                 41
      PTC to Set Up a New Facility in Al Jubai Industry City               41
      REC Intends to Discontinue Wafer and Cell Production in Norway       42
      KCC Acquires Stake in Polysilicon Technology                         42
      Total Acquires Minority Stake in AE Polysilicon                      42
      SiC Processing Acquires Stake in Iosil Energy                        43
      GCL-Poly Energy Holding Acquires Majority Stake in KONCA Solar       43
      SolarWorld Acquires Minor Stake in Qatar Solar Technologies          43
      FerroTec Acquires Integrated Materials                               43
      Calisolar Acquires 6N Silicon                                        43
      Posco to Acquire Elkem                                               44
      SunSi Energies and ZBC Facility Ink Distribution Agreement for
       Trichlorosilane                                                     44
      LDK Solar Inks Sales Agreement with BYD Company                      44
      SunEdison and First Reserve Enter into Joint Venture for
       Funding Solar Energy Projects                                       44
      Mascotte Holdings Enters into Agreement with Sun Materials
       Technology and Hareon Solar Technology                              45
      First Energy Bank Sets Up Production Unit                            45
      LDK Solar Commences Commercial Production in Second
       Polysilicon Train                                                   45
      Centrotherm Commissions Polysilicon Unit for TPSI                    46
      Wacker Commences Production in New Facilities                        46
      OCI Enters into Alliance with Yingli                                 46
      Hoku Amends Supply Contract with Suntech                             46
      Hoku Amends Supply Agreement with Solarfun Power                     47
      Hoku Commences Polysilicon Production in Idaho Plant                 47
      Solarfun Inks Product Supply Contract with GCL- Poly Energy          47
      LDK Solar Secures Supply Contract from Shanxi Lu'an                  47
      GCL Inks Supply Contract with JA Solar                               48
      WACKER Chemie to Establish New Polysilicon Manufacturing Facility    48
      Eurasian Development Bank and NITOL Enter into Agreement             48
      Tokuyama Awards EPC Contract to Chiyoda for Polycrystalline
       Silicon Plant                                                       48
      MBM Holdings to Establish Polysilicon Plant                          49
      OCI to Expand Polycrystalline Silicon Plant Capacity                 49
      Suntech Acquires Minority Stake in Asia Silicon                      49
      Yingli Green Energy Acquires Cyber Power                             49
      Gcl-Poly Energy Holdings Acquires Jiangsu Zhongneng Silicon
       Technology Department                                               50
      LDK Solar Sells Minority Stake to Jiangxi International Trust
       and Investment                                                      50
      AU Optronics to Acquire 50% Stake in M. Setek                        50
      Hemlock Semiconductor Group Commences Operations of Production
       Facility                                                            50
      ZhaoGe RiGuang Commences First Phase of Polysilicon Project          50
      GD Power Development to Build Polysilicon Project                    51
      Dongli Real Estate Group to Build Polycrystalline Silicon
       Production Unit                                                     51
      BHEL to Establish Integrated Photovoltaic Plant                      51
      Guodian Yinglite Energy to Set Up a 5000 TPA Polysilicon
       Facility in China                                                   51
      Yingli Green Commences In-house Polysilicon Production               51
      Motech Industries Makes Additional Investments in AE Polysilicon     52
      Sphere Renewable Energy to Develop Subsidiary in Toledo              52
      OCI to Restart Construction on New Polysilicon Plant                 52
      Tianwei Baobian Conducts Trial Run of New Polysilicon Plant          52
      Phoenix Photovoltaic to Establish Polysilicon Project                52
      BEL to Diversify into Solar Power Generation                         53
      Wacker Chemie to Build Polysilicon Plant in Nunchritz                53
      Tokuyama Corporation to Establish Polycrystalline Silicon
       Facility                                                            53
      Asia Silicon, Yichang Nanbo, Ningxia Sunshine Establish
       Polysilicon Facilities                                              53
      Wacker to Establish Polysilicon Production Facility                  53
      DC Chemical Undergoes Name Change, Known as OCI Company Ltd          53
      Solon Acquires Estelux                                               54
      Suntech and DC Chemical Ink Polysilicon Supply Agreement             54
      Suntech and GCL Silicon Ink Polysilicon and Wafer Supply
       Agreements                                                          54
      JA Solar and M.SETEK Enter into Polysilicon Agreement                54
      Yingli Green Energy Enters into Polysilicon Supply Agreement
       with Wacker Chemie                                                  55
      Baogang Inks Agreement with China Metallurgical Group                55
      Wacker Chemie Expands Burghausen Facility                            55
      Fengwei New Energy to Set up Polysilicon Project in Inner
       Mongolia                                                            55
      Osaka Titanium to Add Polysilicon Capacity to its Kishiwada
       Factory                                                             55
      Environ Energy to Set Up a Polysilicon Project in India              56
      DC Chemical to Set Up a Third Polysilicon Plant in Gunsan            56
      SunTech Renews Existing Polysilicon Supply Agreement with Nitol      56
      LDK Solar Obtains Expansion Approval for 3 Polysilicon Projects      56
      Tebian Electric Establishes Polycrystalline Manufacturing Unit       56
      Sinosteel To Fund Polysilicon Project                                56
      Sichuan Yongxiang Expands Polycrystalline Production Facilities      56
      Tokuyama to Establish Polysilicon Facility in Malaysia               57
      Bhaskar Silicon to Establish Polysilicon Solar Project               57
      Hemlock Semiconductor Group to Expand Capacity                       57
      Hemlock Semiconductor Group Commences Operations of New Facility     57
      SunPower Inks Polysilicon Agreements                                 57
      Japan Solar Silicon to Establish Polysilicon Facility                58
      Jiangsu Zhongneng to Establish Polycrystalline Silicon Facilities    58
      Mining-Chemical Combine Establishes First Polycrystalline
       Silicon Plant in Russia                                             58
      Dalu Group and Space Energy Corporation Ink Supply Contract          58
      DC Chemical Secures Contract from Yingli                             58

  7. FOCUS ON SELECT KEY PLAYERS                                           59
      GCL-Poly Energy Holdings Limited (China)                             59
      Hemlock Semiconductor Group (US)                                     59
      LDK Solar (China)                                                    59
      M. Setek Co. Ltd (Japan)                                             60
      MEMC Electronic Materials, Inc. (US)                                 60
      Mitsubishi Polysilicon America Corporation (US)                      60
      OCI Company Ltd (South Korea)                                        60
      OSAKA Titanium technologies Co., Ltd (Japan)                         61
      ReneSola (China)                                                     61
      Renewable Energy Corp. ASA (Norway)                                  61
      Tokuyama Corporation (Japan)                                         62
      Wacker Chemie AG (Germany)                                           62
      Yingli Green Energy Holding Company Limited (China)                  62

  8. GLOBAL MARKET PERSPECTIVE                                             64
      Table 17: World Recent Past, Current and Future Analysis for
      Polycrystalline Silicon by Geographic Region - US, Japan,
      Europe, Asia-Pacific (excluding Japan), and Rest of World
      Markets Independently Analyzed with Volume Consumption in
      Metric Tons for Years 2009 through 2017 (includes
      corresponding Graph/Chart)                                           64

      Table 18: World Historic Review for Polycrystalline Silicon by
      Geographic Region - US, Japan, Europe, Asia-Pacific (excluding
      Japan), and Rest of World Markets Independently Analyzed with
      Volume Consumption in Metric Tons for Years 2003 through 2008
      (includes corresponding Graph/Chart)                                 65

      Table 19: World 15-Year Perspective for Polycrystalline
      Silicon by Geographic Region - Percentage Breakdown of Volume
      Consumption for US, Japan, Europe, Asia-Pacific (excluding
      Japan), and Rest of World Markets for Years 2003, 2010 and
      2017 (includes corresponding Graph/Chart)                            66

      Table 20: World Recent Past, Current and Future Analysis for
      Polycrystalline Silicon Consumption in Semiconductor
      Applications by Geographic Region - US, Japan, Europe,
      Asia-Pacific (excluding Japan), and Rest of World Markets
      Independently Analyzed with Volume Consumption in Metric Tons
      for Years 2009 through 2017 (includes corresponding
      Graph/Chart)                                                         67

      Table 21: World Historic Review for Polycrystalline Silicon
      Consumption in Semiconductor Applications by Geographic Region
      - US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest
      of World Markets Independently Analyzed with Volume
      Consumption in Metric Tons for Years 2003 through 2008
      (includes corresponding Graph/Chart)                                 68

      Table 22: World 15-Year Perspective for Polycrystalline
      Silicon Consumption in Semiconductor Applications by
      Geographic Region - Percentage Breakdown of Volume Consumption
      for US, Japan, Europe, Asia-Pacific (excluding Japan), and
      Rest of World Markets for Years 2003, 2010 and 2017 (includes
      corresponding Graph/Chart)                                           69

      Table 23: World Recent Past, Current and Future Analysis for
      Polycrystalline Silicon Consumption in Solar Cells Application
      by Geographic Region - US, Japan, Europe, Asia-Pacific
      (excluding Japan), and Rest of World Markets Independently
      Analyzed with Volume Consumption in Metric Tons for Years 2009
      through 2017 (includes corresponding Graph/Chart)                    70

      Table 24: World Historic Review for Polycrystalline Silicon
      Consumption in Solar Cells Application by Geographic Region -
      US, Japan, Europe, Asia-Pacific (excluding Japan), and Rest of
      World Markets Independently Analyzed with Volume Consumption
      in Metric Tons for Years 2003 through 2008 (includes
      corresponding Graph/Chart)                                           71

      Table 25: World 15-Year Perspective for Polycrystalline
      Silicon Consumption in Solar Cells Application by Geographic
      Region - Percentage Breakdown of Volume Consumption for US,
      Japan, Europe, Asia-Pacific (excluding Japan), and Rest of
      World Markets for Years 2003, 2010 and 2017 (includes
      corresponding Graph/Chart)                                           72

  9. THE UNITED STATES                                                     73
      A.Market Analysis                                                    73
        Outlook                                                            73
        An Overview of the US Market for Polysilicon                       73
         Table 26: US Polysilicon Production (2005-2011): Breakdown
         of Volume Production in Metric Tons (includes corresponding
         Graph/Chart)                                                      73

         Table 27: Solar Grade Silicon Production in the US (2008):
         Breakdown of Production in Metric Tons by Major Companies -
         Solar Grade Silicon, Hemlock Semiconductor Corp, MEMC and
         Mitsubishi Polysilicon America (includes corresponding
         Graph/Chart)                                                      74
        US Polycrystalline Industry on a Capacity Expansion Spree          74
        US PV Industry Left Behind                                         74
        Photovoltaic Market Set to Witness Growth Within US                74
         Table 28: US Solar Energy Market Structure (2010):
         Percentage Breakdown by Applications - Commercial,
         Residential, Electric Power, Industrial and Transportation
         (includes corresponding Graph/Chart)                              75

         Table 29: US Energy Generation (2010): Percentage Share
         Breakdown by Sources - Coal, Nuclear, Natural Gas, Hydro
         Petroleum, Non-Solar Renewable and Solar (includes
         corresponding Graph/Chart)                                        75
        Recent Industry Activity                                           76
        Key Players                                                        79
      B.Market Analytics                                                   81
        Table 30: US Recent Past, Current and Future Analysis for
        Polycrystalline Silicon by Application- Semiconductors and
        Solar Cells Independently Analyzed with Volume Consumption
        in Metric Tons for Years 2009 through 2017 (includes
        corresponding Graph/Chart)                                         81

        Table 31: US Historic Review for Polycrystalline Silicon by
        Application - Semiconductors and Solar Cells Independently
        Analyzed with Volume Consumption in Metric Tons for Years
        2003 through 2008 (includes corresponding Graph/Chart)             82

        Table 32: US 15-Year Perspective for Polycrystalline Silicon
        by Application - Percentage Breakdown of Volume Consumption
        for Semiconductors and Solar Cells for Years 2003, 2010 and
        2017 (includes corresponding Graph/Chart)                          83

  10. JAPAN                                                                84
      A.Market Analysis                                                    84
        Outlook                                                            84
        Polysilicon Production in Japan                                    84
         Table 33: Japanese Solar Energy Market (2011): Percentage
         Breakdown by Applications - Residential and Commercial and
         Industrial (includes corresponding Graph/Chart)                   84

         Table 34: Japanese Energy Source Mix (2010): Percentage
         Breakdown by Energy Resources - Hydropower, Biomass/Waste,
         Geothermal, Wind and Solar (includes corresponding
         Graph/Chart)                                                      85
        Impact of 2011 Earthquake on Japanese Polysilicon Production       85
        Recent Industry Activity                                           85
        Key Players                                                        87
      B.Market Analytics                                                   88
        Table 35: Japanese Recent Past, Current and Future Analysis
        for Polycrystalline Silicon by Application - Semiconductors
        and Solar Cells Independently Analyzed with Volume
        Consumption in Metric Tons for Years 2009 through 2017
        (includes corresponding Graph/Chart)                               88

        Table 36: Japanese Historic Review for Polycrystalline
        Silicon by Application - Semiconductors and Solar Cells
        Independently Analyzed with Volume Consumption in Metric
        Tons for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                       89

        Table 37: Japanese 15-Year Perspective for Polycrystalline
        Silicon by Application - Percentage Breakdown of Volume
        Consumption for Semiconductors and Solar Cells for Years
        2003, 2010 and 2017 (includes corresponding Graph/Chart)           90

  11. EUROPE                                                               91
      A.Market Analysis                                                    91
        Outlook                                                            91
        The European Solar Market Faces Threat from China and US           91
      B.Market Analytics                                                   92
        Table 38: European Recent Past, Current and Future Analysis
        for Polycrystalline Silicon by Geographic Region- Germany
        and Rest of Europe Markets Independently Analyzed with
        Volume Consumption in Metric Tons for Years 2009 through
        2017 (includes corresponding Graph/Chart)                          92

        Table 39: European Historic Review for Polycrystalline
        Silicon by Geographic Region - Germany and Rest of Europe
        Markets Independently Analyzed with Volume Consumption in
        Metric Tons for Years 2003 through 2008 (includes
        corresponding Graph/Chart)                                         93

        Table 40: European 15-Year Perspective for Polycrystalline
        Silicon by Geographic Region-Germany and Rest of Europe
        Markets Independently Analyzed with Volume Consumption in
        Metric Tons for Years 2003, 2010 and 2017 (includes
        corresponding Graph/Chart)                                         94

        Table 41: European Recent Past, Current and Future Analysis
        for Polycrystalline Silicon by Application - Semiconductors
        and Solar Cells Independently Analyzed with Volume
        Consumption in Metric Tons for Years 2009 through 2017
        (includes corresponding Graph/Chart)                               95

        Table 42: European Historic Review for Polycrystalline
        Silicon by Application - Semiconductors and Solar Cells
        Independently Analyzed with Volume Consumption in Metric
        Tons for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                       96

        Table 43: European 15-Year Perspective for Polycrystalline
        Silicon by Application - Percentage Breakdown of Volume
        Consumption for Semiconductors and Solar Cells for Years
        2003, 2010 and 2017 (includes corresponding Graph/Chart)           97

  11a. GERMANY                                                             98
      A.Market Analysis                                                    98
        Outlook                                                            98
        Recent Industry Activity                                           98
        Key Player                                                         99
      B.Market Analytics                                                   100
        Table 44: Germany Recent Past, Current and Future Analysis
        for Polycrystalline Silicon by Application - Semiconductors
        and Solar Cells Independently Analyzed with Volume
        Consumption in Metric Tons for Years 2009 through 2017
        (includes corresponding Graph/Chart)                               100

        Table 45: Germany Historic Review for Polycrystalline
        Silicon by Application - Semiconductors and Solar Cells
        Independently Analyzed with Volume Consumption in Metric
        Tons for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                       101

        Table 46: Germany 15-Year Perspective for Polycrystalline
        Silicon by Application - Percentage Breakdown of Volume
        Consumption for Semiconductors and Solar Cells for Years
        2003, 2010 and 2017 (includes corresponding Graph/Chart)           102

  11b. REST OF EUROPE                                                      103
      A.Market Analysis                                                    103
        Outlook                                                            103
        Spanish Photovoltaic Market Collapses                              103
        Russia - An Emerging Market for Solar Power Production             103
        Recent Industry Activity                                           103
        Key Player                                                         104
      B.Market Analytics                                                   105
        Table 47: Rest of Europe Recent Past, Current and Future
        Analysis for Polycrystalline Silicon by Application -
        Semiconductors and Solar Cells Independently Analyzed with
        Volume Consumption in Metric Tons for Years 2009 through
        2017 (includes corresponding Graph/Chart)                          105

        Table 48: Rest of Europe Historic Review for Polycrystalline
        Silicon by Application - Semiconductors and Solar Cells
        Independently Analyzed with Volume Consumption in Metric
        Tons for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                       106

        Table 49: Rest of Europe 15-Year Perspective for
        Polycrystalline Silicon by Application - Percentage
        Breakdown of Volume Consumption for Semiconductors and Solar
        Cells for Years 2003, 2010 and 2017 (includes corresponding
        Graph/Chart)                                                       107

  12. ASIA-PACIFIC                                                         108
      A.Market Analysis                                                    108
        Outlook                                                            108
      B.Market Analytics                                                   109
        Table 50: Asia-Pacific Recent Past, Current and Future
        Analysis for Polycrystalline Silicon by Country/Region -
        China and Rest of Asia-Pacific Independently Analyzed with
        Volume Consumption in Metric Tons for Years 2009 through
        2017 (includes corresponding Graph/Chart)                          109

        Table 51: Asia-Pacific Historic Review for Polycrystalline
        Silicon by Country/Region - China and Rest of Asia-Pacific
        Independently Analyzed with Volume Consumption in Metric
        Tons for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                       110

        Table 52: Asia-Pacific 15-Year Perspective for
        Polycrystalline Silicon by Country/Region - Percentage
        Breakdown of Volume Consumption for China and Rest of
        Asia-Pacific for Years 2003, 2010 and 2017 (includes
        corresponding Graph/Chart)                                         111

        Table 53: Asia-Pacific Recent Past, Current and Future
        Analysis for Polycrystalline Silicon by Application -
        Semiconductors and Solar Cells Independently Analyzed with
        Volume Consumption in Metric Tons for Years 2009 through
        2017 (includes corresponding Graph/Chart)                          112

        Table 54: Asia-Pacific Historic Review for Polycrystalline
        Silicon by Application - Semiconductors and Solar Cells
        Independently Analyzed with Volume Consumption in Metric
        Tons for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                       113

        Table 55: Asia-Pacific 15-Year Perspective for
        Polycrystalline Silicon by Application - Percentage
        Breakdown of Volume Consumption for Semiconductors and Solar
        Cells for Years 2003, 2010 and 2017 (includes corresponding
        Graph/Chart)                                                       114

  12a. CHINA                                                               115
      A.Market Analysis                                                    115
        Outlook                                                            115
        China - A Leading Player in the Asian Market                       115
         Polysilicon Market in China Shining After a Gloomy Period         116
         Lack of Technological Expertise - A Major Roadblock               116
         Pre-Crisis Scenario in China’s Polycrystalline Silicon Market     117
         An Outlook for Production                                         117
         Prices Pick Up in 2010 Amid Short Supply                          117
         Polysilicon to Become a Thin Profit Margin Market                 118
         Chinese Production Statistics                                     118
          Table 56: Chinese Polysilicon Production (2005-2010)-
          Breakdown of Annual Capacity in Metric Tons (includes
          corresponding Graph/Chart)                                       118

          Table 57: Chinese Polysilicon Production (2010):
          Percentage Share Breakdown by Major Manufacturers (In
          Metric Tons) (includes corresponding Graph/Chart)                119
        China Continues to Rely on Imports for Polysilicon                 119
         Table 58: Chinese Polycrystalline Silicon Imports (2010):
         Percentage Share Break Down by Exporting Country - The
         United States, Germany, South Korea, Japan and Others
         (includes corresponding Graph/Chart)                              120
        A Tight Supply Situation in the Spot Market                        120
        Pollution Caused by Byproducts - A Major Threat                    120
        Industry Paradox - Cost of Domestic Poly Production Higher
         than Imports                                                      121
        Overcapacity Compels Government for Drastic Corrective Measures    121
        China Looks Beyond Borders for Capacity Expansions                 122
        Market Consolidation a Thing of the Past                           122
        Bringing Down Production Costs - a Major Challenge                 122
        Major Players Focus on Enhancing Polysilicon Quality to Meet
         International Standards                                           123
        High Energy Conversion Capability of Monocrystalline Silicon
         Panels                                                            123
         Table 59: Energy Conversion Efficiency of Technologies -
         Crystalline (Monocrystalline and Polycrystalline) and Thin
         Film Technologies (Amorphous Silicon, Amorphous with
         Monocrystalline Silicon, Cadmium Telluride and Copper
         Indium Diselenide)                                                124

         Table 60: Chinese Crystalline Cell Shipments (2008):
         Percentage Share Breakdown by Types of Crystalline Cells -
         Polycrystalline Silicon Cell and Monocrystalline Silicon
         Cell (includes corresponding Graph/Chart)                         124
        Thin-Film PV to Offer Advantage over Polysilicon-based PV          124
        Can Thin-Film Solar Cell Make a Mark in the Chinese Market?        125
        Solar Power to Drive Future Market Growth                          125
        Exports of PV Cells Witnessing a Boom Despite Slump in
         Domestic Demand                                                   126
        Solar Electricity Becomes Increasingly Cheaper in China            126
         Table 61: Chinese PV Installations For the Years 2003-2010
         (includes corresponding Graph/Chart)                              127

         Table 62: Chinese Energy Generation (2010): Percentage
         Share Breakdown by Sources - Coal, Oil, Hydro, Natural,
         Nuclear and Others (includes corresponding Graph/Chart)           127

         Table 63: Chinese PV Market (2010): Percentage Share
         Breakdown by Market Sectors - Rural Electrification,
         Communication and Industrial Applications, Solar PV
         Appliances, On-grid PV Systems in Buildings and Large Scale
         Power Stations in Deserts (includes corresponding
         Graph/Chart)                                                      128

         Table 64: Chinese Photovoltaic Industry (2010): Breakdown
         by Number of Manufacturers for Industry Type - Solar Panel,
         Silicon Wafer, Silicon Ingot, Solar Cell and Polysilicon
         (includes corresponding Graph/Chart)                              128
        Time to Strengthen Domestic PV Market                              129
        Suntech Power - China’s Largest Solar Panel Manufacturer           129
        Silicon Metal - Main Feedstock for Polycrystalline Silicon         129
         Table 65: Chinese Silicon Metal Demand (2010): Percentage
         Share Breakdown by Segments - Aluminum Silicon Alloy,
         Organic Silicon, Polycrystalline Silicon and Others
         (includes corresponding Graph/Chart)                              129
        Recent Industry Activity                                           130
        Key Players                                                        137
      B.Market Analytics                                                   139
        Table 66: Chinese Recent Past, Current and Future Analysis
        for Polycrystalline Silicon by Application - Semiconductors
        and Solar Cells Independently Analyzed with Volume
        Consumption in Metric Tons for Years 2009 through 2017
        (includes corresponding Graph/Chart)                               139

        Table 67: Chinese Historic Review for Polycrystalline
        Silicon by Application - Semiconductors and Solar Cells
        Independently Analyzed with Volume Consumption in Metric
        Tons for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                       140

        Table 68: Chinese 15-Year Perspective for Polycrystalline
        Silicon by Application - Percentage Breakdown of Volume
        Consumption for Semiconductors and Solar Cells for Years
        2003, 2010 and 2017 (includes corresponding Graph/Chart)           141

  12b. REST OF ASIA-PACIFIC                                                142
      A.Market Analysis                                                    142
        Outlook                                                            142
        Select Regional Analysis                                           142
         India                                                             142
          Dynamics of Indian Photovoltaic Market                           142
          Key Considerations for New Entrants in the Indian
           Polysilicon Market                                              142
         South Korea                                                       143
          South Korea - An Emerging Star                                   143
        Recent Industry Activity                                           144
        Key Players                                                        148
      B.Market Analytics                                                   148
        Table 69: Rest of Asia-Pacific Recent Past, Current and
        Future Analysis for Polycrystalline Silicon by Application -
        Semiconductors and Solar Cells Independently Analyzed with
        Volume Consumption in Metric Tons for Years 2009 through
        2017 (includes corresponding Graph/Chart)                          148

        Table 70: Rest of Asia-Pacific Historic Review for
        Polycrystalline Silicon by Application - Semiconductors and
        Solar Cells Independently Analyzed with Volume Consumption
        in Metric Tons for Years 2003 through 2008 (includes
        corresponding Graph/Chart)                                         149

        Table 71: Rest of Asia-Pacific 15-Year Perspective for
        Polycrystalline Silicon by Applications Application -
        Percentage Breakdown of Volume Consumption for
        Semiconductors and Solar Cells for Years 2003, 2010 and 2017
        (includes corresponding Graph/Chart)                               150

  13. REST OF WORLD                                                        151
      A.Market Analysis                                                    151
        Outlook                                                            151
        Recent Industry Activity                                           151
      B.Market Analytics                                                   152
        Table 72: Rest of World Recent Past, Current and Future
        Analysis for Polycrystalline Silicon by Application -
        Semiconductors and Solar Cells Independently Analyzed with
        Volume Consumption in Metric Tons for Years 2009 through
        2017 (includes corresponding Graph/Chart)                          152

        Table 73: Rest of World Historic Review for Polycrystalline
        Silicon by Application - Semiconductors and Solar Cells
        Independently Analyzed with Volume Consumption in Metric
        Tons for Years 2003 through 2008 (includes corresponding
        Graph/Chart)                                                       153

        Table 74: Rest of World 15-Year Perspective for
        Polycrystalline Silicon by Application - Percentage
        Breakdown of Volume Consumption for Semiconductors and Solar
        Cells for Years 2003, 2010 and 2017 (includes corresponding
        Graph/Chart)                                                       154


 COMPETITIVE LANDSCAPE

     Total Companies Profiled: 81 (including Divisions/Subsidiaries - 91)

     ------------------------------------------
     Region/Country                     Players
     ------------------------------------------
     The United States                     17
     Canada                                 1
     Japan                                 11
     Europe                                16
      France                                2
      Germany                               5
      The United Kingdom                    1
      Italy                                 1
      Spain                                 1
      Rest of Europe                        6
     Asia-Pacific (Excluding Japan)        42
     Latin America                          1
     Middle-East                            3
     ------------------------------------------