Hemlock Semiconductor (USA), Wacker (Germany/USA) and OCI Malaysia together were able to increase their polysilicon exports to Vietnam from 18,672 MT in 2022 (+78.2%) to 33,265 MT in 2023. This growth more than compensated for the 13,918 MT they lost in business volume in China in 2023. While Hemlock and OCI achieved a net increase from their exports to both countries, Wacker’s two German polysilicon plants exhibit a negative balance: Although they were able to boost the exports to Vietnam by 7,617 MT (+151%) to 12,662 MT, their imports into China plummeted from 48,070 MT in 2022 by 12,627 MT (-26.3%) to 35,443 MT in 2023.
During the polysilicon shortage, China imported extraordinarily large volumes from Japan (2021: 15,431 MT; 2022: 6,129 MT) and Taiwan (2021: 6,899 MT; 2022: 3,480 MT). At high market prices, the Japanese solar module producer Sharp converted into cash considerable inventories, which resulted from a long-term purchase contract with Hemlock Semiconductor running through 2020.
polysilicon imports into China have fallen to the lowest level since 2011. Outside imports of polysilicon fell by 28.5% to 62,965 MT in 2023 — now less than the 64,614 MT reached in 2011.