Photovoltaic Materials Market Comprehensive Analysis 2019: Kaneka North America, Kyocera International, American Elements, 1366 Technologies, Merck Group, Honeywell, Coveme, Targray, Novaled, Ferrotec

There are several recent developments, product launches, joint ventures, merges and accusations by the key market players and brands who will dominate the Photovoltaic Materials Market and hence Chemical and Materials industry for the forecast years 2019 to 2026.
This report has all the company profiles for the top players and brands and along with that the report also contains a synopsis of market definition, classifications, applications and market trends, and the Photovoltaic Materials Market drivers and restrains that are derived from a well know method called SWOT analysis.

Global Photovoltaic Materials Market is expected to rise from its initial estimated value of USD 17.41 billion in 2018 to an estimated value of USD 40.55 billion by 2026, registering a CAGR of 11.15% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising awareness regarding clean energy and initiatives taken by the government for renewable energy sources.

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Key Developments in the Market:

• In May 2018, Vikram Solar Limited announced the establishment and inauguration of a corporate office in Gurugram, Haryana, India. This expansion is aimed at expanding the customer base and expanding its customer share in the northern part of India.

• In December 2017, Duke Energy Corporation announced that they had completed the acquisition of REC Solar, with the acquisition enabling the companies to better serve the customer base and expand their market share due to the expertise of both the companies in the renewable energy business.

Key Market Competitors:

• Kaneka Corporation,
• KYOCERA Corporation,
• Mitsubishi Electric Corporation,
• DuPont,
• American Elements,
• 1366 Technologies,
• Merck KGaA,
• Honeywell International Inc.,
• Coveme,
• Targray,
• Novaled GmbH,
• Ferrotec (USA) Corporation,

Few of the major competitors currently working in the photovoltaic materials market are HANGZHOU FIRST APPLIED MATERIAL CO.LTD., Wacker Chemie AG, ARMOR, Tata Power Solar Systems Ltd., Vikram Solar Limited, Conergy, Panasonic Corporation, SHARP CORPORATION, First Solar, Trina Solar, Jinko Solar, Jingao Solar Holdings Co. Ltd., Hanwha Q CELLS, Renesola, Yingli Solar, Duke Energy Corporation, Shunfeng International Clean Energy Limited, and RISEN ENERGY CO. LTD.

Global Photovoltaic Materials Market Definition:

Photovoltaics can be defined as the process of conversion of light into electricity with the help of semiconductor materials present in the photovoltaic cells that are present in the solar panels. These panels are required for the utilization of solar energy and these panels can be mounted on a number of surfaces as per the availability of space. The materials included in the production of these solar cells in the panels can be defined as photovoltaic materials.

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Market Drivers:

• Concerns regarding the environment and clean energy awareness are few of the factors that are expected to drive the market growth

• Government initiatives and programs to promote renewable energy and its market share in the company is also expected to drive the market growth

Market Restraints:

• High cost and requirements of a number of other resources for the installation of solar cells is expected to act as a restraint to the market growth

• High set-up cost and entry barriers for the manufacturers is also expected to restrain the market growth

Global Photovoltaic Materials Market Segmentation:

• By Materials
o Polycrystalline Silicon
o Monocrystalline Silicon
o Copper Indium Gallium Selenide (CIGS)
o Cadmium Telluride
o Others

• Product
o Front Sheet
o Encapsulant
o Back Sheet
o Others

• By Application
o Residential
o Non-Residential
o Utility

• By Geography
o North America
o South America
o Europe
o Asia-Pacific
o Middle East & Africa

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This release was published on openPR.