Korean polysilicon producer, OCI Company has reported a 17% increase in polysilicon sales in 2014 as its plants run at full capacity.

OCI reported its Basic Chemical division, which includes its polysilicon operations to have reached sales of KRW583 billion (US$526.4 million approx) in the fourth quarter of 2014 and total sales for the full-year of KRW2,107 billion (US$1.9 billion).

The company noted that it operated its polysilicon production plants at full-capacity and cost reductions, as well as benefiting from relatively flat ASPs in 2014, helping to return the division to profitability.

The company noted that it was accelerating the mechanical completion of its P3 plant, phase 9 debottlenecking, which is scheduled for completion during the second quarter of 2015, a quarter earlier than previously guided. OCI noted that it expected an additional US$2/kg cost reduction (10%) from the P3.9 debottlenecking when fully operational.

The P3.9 debottlenecking would provide a further 10,000MT of polysilicon capacity. However, plans to add new plant capacity announced several years ago remain on hold.

OCI said that it was targeting to achieve a global market share of polysilicon sales of 17% in 2015 on the back of continued strong demand for PV and expected global polysilicon demand to be in the range of 310,000MT.