Global Solar Backsheet Market Report 2023, Ongoing Trends, Market Growth Drivers, Challenging Factors, Growth Opportunities, Marketing Strategies, Product Developments, Segments, and Forecast 2023 – 2033
Global Solar Backsheet Market was valued at USD 1591.42 Million in 2023 and reaches to USD 3801.59 Million by 2033 at a CAGR of 9.09%
“Global Solar Backsheet Market” Trends, Opportunities, Types, Applications, Insights, Revenue, Market Growth Forecast to 2033, is a recent report study tracked by MarketResearch.biz. The global solar back sheet market report has been segmented on the basis of type, application, installation, and region & country.
Solar Backsheet: Overview
Solar backsheet is an external layer surrounding the PV unit, that shields internal components of the module/unit, especially photovoltaic cells and electrical components from the external stresses such as UV radiations, and moisture penetration. Solar backsheet also plays an important role as an electrical insulator in the unit. Solar backsheet forms a critical part of any PV module because of the aforementioned functions of back sheet. Solar back sheets are extremely strong and robust in nature and capable to provide protective measures to the internal environment of the unit. It has three multi-layer laminates and superior dielectric features. These factors make solar backsheets ideal for applications in residential, commercial, as well as industrial sectors.
Global Solar Backsheet Market: Dynamics
Primary factor driving growth of the global solar backsheet market is increasing consumption of solar energy on a global scale. Increasing installation of solar PV setup, combined with increasing initiatives and support from the governments of various developed and developing countries, and implementation of latest policies to promote adoption of renewable energy sources are expected to drive growth of the global market over the forecast period. Decreasing production cost as a result of various incentives provided to the manufacturers of solar backsheets by the government is also expected to drive growth of the global market. Promising growth and development in the renewable energy sector is also expected to have a positive impact on the growth of the target market. Technological advancements in the field of solar backsheets is another factor anticipated to bring about new product innovations, thereby fueling demand for solar backsheets in the coming years.
Among the type segments, the fluoropolymer segment is expected to account for major revenue share, owing to its superior and advanced properties such as high efficiency and insulation properties. Increasing preference of fluoropolymer backsheets by various developers across the globe is driving growth of this segment in the target market currently.
Among the application segments, the utility application segment is expected to dominate in the global market in terms of revenue share, owing to the increasing adoption of solar power on a global scale.
Among the installation segments, the floating power plant is expected to account for major revenue share in the coming years. The growth of this segment is attributable to the capacity of these plants to produce more power as compared to other two options. The use of floating power plants also resolves land constraint issues, which is currently one of the major issues restraining adoption of ground-mounted solar installations.
Global Solar Backsheet Market: Regional Analysis
The Asia Pacific market is expected to dominate in the global market in terms of revenue share in the target market, and is expected to witness faster and higher growth rate over the 10-year forecast period, owing to significantly increasing solar PV installation in economies in the region especially Japan, India, and China. In addition, rapid urbanization and industrialization in developing economies are resulting in high demand for a high level of energy consumption, which have resulted in the rapid growth of the renewable energy sector. Therefore, markets in India and China are expected to be the largest revenue contributors in Asia Pacific solar back sheet market in order to meet the ever-increasing energy demand. The other key markets in Asia Pacific market include South Korea and Australia markets.
The market in North America is expected to account for a considerable revenue share in the target market, followed by the Europe Market. The revenue share of North American market can be attributable to the early adoption of technologically advanced products, the rising number of initiatives by governments of the countries in the region towards the adoption of green and renewable energy options.
The market is Middle East & Africa is also expected to witness a moderate growth rate along with Latin America market, owing to nearly 100% Foreign Direct Investment (FDI) allowance in utility sector in countries in these regions.
Global Solar Backsheet Market Segmentation:
Segmentation by Type:
Segmentation by Application:
Segmentation by Installation:
- Floating Power Plant
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size USD 1591.42 Million Growth Rate 9.09% Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2023-2033 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Dow Dupont
- 3M Company
- Dunmore Corporation
- Madico Inc.
- Krempel GmbH
- Toray Industries Inc.
- Coveme SpA
- Toyo Aluminium K.K.
- Mitsubishi Plastics, Inc.
- Isovoltaic AG
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