Global Solar Encapsulation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global solar encapsulation market in its upcoming report titled, “Global Solar Encapsulation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global solar encapsulation market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global solar encapsulation market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global solar encapsulation market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global solar encapsulation market report has been segmented on the basis of material, technology, application, and region.
Solar encapsulation is used to protect the solar panels from corrosion, and changing weather conditions. In addition, it also improves efficiency of solar panels. Polymers such as ethylene vinyl acetate, polyvinyl butyral (PVB), ionomers, polyolefin, and thermoplastic polyurethanes are used as solar encapsulates.
Rising demand for renewable energy sources coupled with increasing adoption of solar photovoltaic (PV) technology is a key factor driving growth of the global solar encapsulation market. In addition, increasing awareness towards benefits of renewable energy, and presence of properties such as good insulation, mechanical resistance, good light, and transmittance are other factors expected to propel growth of the global solar encapsulation market over the forecast period.
Current trend in market is development of low cost solar panel materials such as amorphous silicon cells, and cadmium telluride, which is further expected to drive growth of the global solar encapsulation market.
However, high costs of installation associated with solar equipment is a key factor restraining growth of the global solar encapsulation market. Additionally, weather conditions especially during monsoons is hindering the acceptance of solar power systems, which is another factor expected to hamper growth of the global solar encapsulation market over the forecast period.
Increasing market demand of solar glass panels due to its excellent adhesive bonding is expected to generate opportunities for market players in the global solar encapsulation market in the next few years. Moreover, introduction of non-EVA (Ethyl Vinyl Acetate) based encapsulation such as polyvinyl butyral (PVB), and thermoplastic polyurethane (TPU) is expected to create growth opportunities for market players.
Asia Pacific market is expected to account for largest share in terms of revenue in the global solar encapsulation market followed by market in North America, owing to rising renewable energy requirements and increasing awareness regarding benefits of PV technology in countries in the region. The market in Europe is expected to register significant growth over the forecast period, owing to increasing applications of solar energy for power generation, construction, and agriculture.
Global solar encapsulation market segmentation by material:
- Ethylene vinyl acetate (EVA)
- Polyvinyl butyral (PVB)
- Polydimethylsiloxane (PDMS)
Global solar encapsulation market segmentation by technology:
- Single crystal/polycrystalline silicon technology
- Thin film solar technology
Global solar encapsulation market segmentation by application:
Global solar encapsulation market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- STR Holdings, Inc.
- Hangzhou First Applied Material Co., Ltd.
- Solutia Inc.
- Bridgestone Corporation
- Dow Corning Corporation
- First Solar, Inc.
- Mitsui Chemicals Tohcello, Inc.
- 3M Company
- Wacker Chemie AG.
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