Press release
Increasing Demand for Photovoltaic Modules Driving Solar Encapsulant Market
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Recent Strategic Developments of Major Solar Encapsulant Market Players
In recent years, major players in the solar encapsulant market have taken several strategic measures, such as product launches and investment aimed at expansions, to gain competitive edge in the industry. For instance, in July 2016, Suzhou Zhongkang Power, a subsidiary of Jiangsu Akcome Science & Technology Co. Ltd., invested $150.57 million for building three PV power stations, with a combined power generation capacity of 110 MW.
Moreover, in June 2017, RIPL launched five Bus Bar (BB) solar PV cells. These cells offer lower resistance and enhance overall module performance. The launch aimed at expanding the company's PV cell product line in the global market.
When the material is taken into consideration, the solar encapsulant market is categorized into polyvinyl butyral (PVB), ethylene vinyl acetate (EVA), polyolefin elastomer, and others (which include ionomers, polyurethane, and polydimethylsiloxane). EVA dominated the market during the historical period (2013-2017), accounting for a volume share of 74.2% in 2017, and is predicted to retain its position during the forecast period. This was because EVA provides excellent toughness & elasticity, strong protection, and great adhesive strength to solar cells. The PVB category is expected to grow at the fastest pace during the forecast period.
The rising demand for PV modules is a key driving factor of the solar encapsulant market. PV is the most extensively utilized solar technology, wherein there is a direct conversion of sunlight into electrical energy via a device called a solar cell. The requirement for PV modules is rising due to their several advantages, such as provision of clean and green energy, economic viability, and environmental sustainability. Solar encapsulants are utilized for providing adhesion between the top and rear surfaces of the PV modules for protecting the module from high temperature, external stress, and moisture.
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The emergence of thin-film solar cell technology is a key trend that is being witnessed in the solar encapsulant market. The crystalline silicon solar technology is generally utilized for producing crystalline silicon solar modules. However, the fragile nature and high production cost of crystalline silicon-based solar modules have resulted in the need for cost-efficient solar module production technologies. Attributed to this, the manufacturers are focusing on developing improved and cost-efficient technologies. One such technology is thin-film solar cell technology, which is cost-effective and helps reduce the consumption of raw material during the production of solar cell.
Market Size Breakdown by Segment
The Solar Encapsulant Market report offers comprehensive market segmentation analysis along with market estimation for the period 2013-2023.
Based on Material
Ethylene vinyl acetate (EVA)
Polyvinyl butyral (PVB)
Polyolefin elastomer
Based on Technology
Crystalline Silicon Solar Technology
Thin-film Solar Technology
Cadmium Telluride (CdTe)
Copper Indium Gallium Selenide (CIGS)
Amorphous silicon (a-Si)
Based on Application
Construction
Electronics
Automotive
Geographical Analysis
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Asia-Pacific (APAC)
China
Japan
Australia
India
South Korea
Latin America (LATAM)
Brazil
Mexico
Middle East and Africa (MEA)
Saudi Arabia
South Africa
Table of Content
Research Background
Research Methodology
Global Market Size and Forecast
Competitive Landscape
Company Profiles
STR Holdings Inc.
ISOVOLTAIC AG
Hangzhou First Applied Material Co. Ltd.
Eastman Chemical Company
Bridgestone Corporation
Mitsui Chemicals Inc.
3M Company
Jiangsu Akcome Science & Technology Co. Ltd.
Saint-Gobain S.A.
E.I. du Pont de Nemours and Company
Changzhou Sveck Technology Co. Ltd. (Sveck)
Encapsulantes de Valor A?adido S.A. (EVASA)
RenewSys India Pvt. Ltd. (RIPL)
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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