Global Solar Encapsulation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Solar Encapsulation Market Overview

“The global Solar Encapsulation market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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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 the 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 the growth of the global solar encapsulation market.

In addition, increasing awareness of the benefits of renewable energy, and the presence of properties such as good insulation, mechanical resistance, good light, and transmittance are other factors expected to propel the growth of the global solar encapsulation market over the forecast period.

The current trend in the market is the development of low-cost solar panel materials such as amorphous silicon cells, and cadmium telluride, which is further expected to drive the growth of the global solar encapsulation market.

However, the high costs of installation associated with solar equipment are a key factor restraining the growth of the global solar encapsulation market. Additionally, weather conditions especially during monsoons are hindering the acceptance of solar power systems, which is another factor expected to hamper the growth of the global solar encapsulation market over the forecast period.

Increasing market demand for solar glass panels due to their excellent adhesive bonding is expected to generate opportunities for market players in the global solar encapsulation market in the next few years.

Moreover, the 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 the largest share in terms of revenue in the global solar encapsulation market followed by the market in North America, owing to rising renewable energy requirements and increasing awareness regarding the 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:

Global solar encapsulation market segmentation by material:

• Ethylene-vinyl acetate (EVA)
• Polyvinyl butyral (PVB)
• Polydimethylsiloxane (PDMS)
• Ionomer
• Others

Global solar encapsulation market segmentation by technology:

• Single crystal/polycrystalline silicon technology
• Thin-film solar technology

Global solar encapsulation market segmentation by application:

• Construction
• Electronics
• Automotive
• Others

Global solar encapsulation market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa