News on inventory

News on suppliers, market trends and technology innovations in polysilicon and wafer production is selected, assessed and written for you by Bernreuter Research.

Polysilicon EBITDA margins of Wacker, Daqo and OCI from Q3 2024 through Q3 2025

Polysilicon maker Daqo back in black, Wacker and OCI in limbo

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While non-Chinese polysilicon manufacturers still felt the impact from uncertainty about the U.S. solar market in the third quarter, Daqo New Energy benefitted from the price surge in China.

Polysilicon EBITDA margins of Wacker, Daqo and OCI from Q2 2024 through Q2 2025

Polysilicon maker OCI plunges into red after halting production

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While the Malaysian manufacturer fell behind the EBITDA margin of its German competitor Wacker in the second quarter, Chinese producer Daqo suffered from the low polysilicon price on the domestic market.

Polysilicon EBITDA margins of OCI, Wacker and Daqo from Q1 2024 through Q1 2025

Polysilicon maker OCI returns to profit and overtakes Wacker

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While the Malaysian manufacturer exceeded the EBITDA margin of its German competitor in the first quarter, Chinese producer Daqo struggled with the low polysilicon price on the domestic market.

Polysilicon spot prices from December 2024 through March 26, 2025

Why the polysilicon price has been cemented and can’t rise soon

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The huge inventory mountain piled up by Chinese polysilicon manufacturers in 2024 is hardly carried off. This is why the polysilicon price has not risen despite a price rally downstream.

Polysilicon EBITDA margins of OCI, Daqo, Wacker and REC Silicon from Q4 2023 through Q4 2024

Wacker copes with polysilicon headwinds better than its peers

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The German polysilicon manufacturer improved its EBITDA margin in the fourth quarter, whereas its competitors OCI, Daqo and REC Silicon struggled with various, partly self-induced problems.

Polysilicon EBITDA margins of OCI Malaysia, Wacker, Daqo and REC Silicon from Q3 2023 through Q3 2024

OCI and Wacker feel weak demand due to US anti-dumping case

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Market uncertainty weighs on the EBITDA margin of both polysilicon manufacturers, whereas Chinese competitor Daqo is still in the red since its average selling price remains below cash costs.

Key performance indicators of Tongwei, GCL Technology, Daqo New Energy and Xinte Energy in the first half of 2024

Top four polysilicon makers incur net losses in first half of 2024

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The polysilicon price crash in China left its mark on the earnings of the world’s four largest polysilicon manufacturers Tongwei, GCL Technology, Daqo New Energy and Xinte Energy in the first half of 2024.

Polysilicon EBITDA margins of OCI Malaysia, Wacker, Daqo and REC Silicon from Q2 2023 through Q2 2024

Margin of Chinese polysilicon maker Daqo crashes into deep red

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Non-Chinese competitors OCI Malaysia and Wacker left Daqo behind as their earnings benefitted from reduced costs and the increased spread to plummeting prices in China in the second quarter.

Wafer production capacities in and outside China 2023/2024

Why wafers are the Achilles’ heel of a non-Chinese supply chain

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No other link of the solar supply chain is more dominated by China than the production of silicon ingots and wafers. There are reasons why non-Chinese wafer plants will hardly flourish anytime soon.

Polysilicon EBITDA margins of Daqo, OCI, Wacker and REC Silicon from Q3 2022 through Q3 2023

Polysilicon makers Daqo and Wacker down to same margin level

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The polysilicon price crash in China drove the EBITDA margins both of Chinese low-cost producer Daqo New Energy and its German competitor Wacker down to less than 15% in the third quarter.

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