The global Solar Encapsulation Materials Market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are global electricity consumption, which is predicted to double by 2030, solar PV cost reduction potential, and PV technology advancements. Solar encapsulation is a gradually growing market with no substitutes, making it a critical component in production of PV modules.
Solar encapsulation materials provide adhesion between top and back surfaces of solar cells or solar photovoltaics. Due to strong thermal resistivity and endurance, solar encapsulation materials remain stable at rising temperatures and high UV exposures. Ethylene vinyl acetate, polyvinyl butyral, polydimethylsiloxane, ionomer, thermoplastic polyurethane, and polyolefin are some key materials used to make solar encapsulates. In most cases, solar encapsulation materials come in shape of sheets. Solar encapsulation material sheets are sandwiched between top and rear surfaces, then heated to 150 to 160 degrees Celsius until solar encapsulation material bonds with the PV module. The most prevalent substance for solar encapsulation is ethylene vinyl acetate.
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Competitive Landscape:
The report offers details about financial standing, global positional, license agreement, business expansion plans and product portfolios of each player operating in the market. The global Solar Encapsulation Materials market is extremely competitive and comprise various key players operating at global and regional levels. These players are adopting various strategies such as mergers and acquisitions, collaborations, joint ventures, partnerships, RD investments and new product launches to gain robust footing in the market and expand their product portfolio.
Top Companies: First, Sveck, STR, MITSUI, Bridgestone, TPI All Seasons, Dow Corning, DuPont, Akcome, Hiuv, Hangzhou First PV material Co. Ltd, Changzhou Bbetterlm, JGP Energy, 3M, SKC
Report Overview:
The materials and chemicals industry revenue has rapidly expanded over the recent past. The global Solar Encapsulation Materials market is expected to register robust revenue growth during the forecast period, 2021-2028. Revenue growth of the global market is significantly driven by factors such as high demand for raw materials and chemicals across various sectors including food and beverages, paper pulp, chemicals and medical, biotechnology and pharmaceutical and rapid urbanization and industrial developments worldwide. In addition, increasing per capita income, rising investments by public and private organizations and rising demand for eco-friendly and sustainable products due to rising awareness about carbon emissions are expected to boost global market growth during the forecast period.
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Market Segmentation:
Material Type Outlook (Revenue, USD Billion; 2018-2028)
- Ethylene Vinyl Acetate (EVA)
- Non-Ethylene Vinyl Acetate
- UV Curable Resins
- Others
Solar Module Outlook (Revenue, USD Billion; 2018-2028)
- Monocrystalline
- Polycrystalline
- Cadmium Telluride
- Amorphous Silicon Cells
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Construction
- Electronics
- Automobile
- Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Solar Encapsulation Materials market report:
- What is the expected market size of the global Solar Encapsulation Materials market during the forecast period?
- What factors are expected to hamper global Solar Encapsulation Materials market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Solar Encapsulation Materials market?
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