Tight Supply And Demand Of Silicon Materials May Extend To 2022

We estimate that the new global photovoltaic installed capacity in 2021/2022 will be 165/200GW respectively,the corresponding module demand will be about 19B/240GW,and the demand for silicon materials will be about 5B/700,000 tons respectively.Taking into account the inventory factor and the actual release rhythm of silicon material supply and demand,we expect the tight supply and demand pattem of the silicon material industry to continue until 2022.

The global new photovoltaic installed capacity will maintain rapid growth,and the new installed capacity is expected to reach 165/200GW in 2021-2022.

In2021,domestic photowoltaics will officially enter the stage of grid parity.Under China's“3060"target,with c8 rbon as the anchor,it will gradually start the incremental and stock replacement of traditional thermal power;at the same time,the global photovoltaic market will continue to diversify,as countries

can regenerate With the improvement of the strategic position of energy planning and the increasing attractiveness of photovoltaic project investment due to the epidemic and economic fluctuations,industry demand growth may accelerate.We predict that the global PV installed capacity vill reach about165/200GW in 2021-2022,and the average annual installed capacity in the next 5 years is expected to reach 200-250GW,corresponding to a CAGR of close to 20%,ar it will be ane af the industry tracka with the fastest growth in the medium and long term.1.The growth af newly installed capacity will also drive the rapid development of the industrial chain.