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Solar PV Glass Market by Industry Analysis, Growth Forecast & Emerging Trends To 2024 | Asahi Glass (AGC), Xinyi Solar Holdings, Saint Gobain, Borosil, Sisecam Group, Guardian Industries

03-18-2020 02:48 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Solar PV Glass Market

Solar PV Glass Market

The rising demand for solar PV glass across the residential sector has provided a significant impetus to the tempered/toughened solar PV glass market. This product segment provides better thermal stress breakage and mechanical strength to the glass and is therefore safer than its counterparts. The tempered solar PV glass market is thus likely to witness a lucrative growth of 7% over 2017-2024.

China is a major consumer, producer, and exporter of photovoltaic systems and accounted for more than 50% of the overall solar PV glass market in 2016. In December 2016, the Chinese government amended its Thirteenth Five Year Plan to improve the countries photovoltaic energy sector with an aim to achieve at least 23% of efficiency in large scale production of crystalline silicon photovoltaic cells by 2020.

UK solar PV glass industry has also been gaining traction of late. In 2016, the UK government proclaimed a complete phase-out of the standing coal fired stations by 2025. Moreover, stringent government regulations for curbing the carbon emissions has resulted into several government initiatives to install rooftop solar PV units, which is turn has raised the regional share for solar PV glass industry.

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On the technology front, solar PV glass market is segmented into two types namely float and pattern. The pattern solar PV glass industry share is expected to depict an annual growth rate of 6% over the period of 2017-2024, owing to its better aesthetics, easy lamination, non-blinding effect, and desired degree of transparency. On other hand, the float solar PV glass industry also holds a significant market chunk as it finds extensive applications in thin film photovoltaic modules.
In Latin America, Chile solar PV glass market is slated to record an annual growth rate of more than 10% over the period of 2016 to 2024. This country is investing heavily in the development and installation of photovoltaic systems. For instance, recently, Enel Green Power Chile Ltd invested about USD 270 million to install a project of capacity 160 MW.

CIGS and crystalline photovoltaic modules use pattern technology extensively owing to the non-smooth surface. Pattern technology segment of solar PV glass market will register a CAGR of more than 6% over the coming years. Implementation of this technology offers better aesthetic, easy lamination, non-blinding effect, and desired transparency modules.

U.S. solar PV glass industry occupied more than 90 million square meters in terms of area and is predicted to grow significantly, accounting for an increased number of installations over the years ahead. The growth can be attributed to the escalating deployment of strict governmental norms to adopt sustainable energy. In addition, the Department of Energy Research and Innovation has taken initiations to enhance traditional laboratories under the Act of H.R.589, which will stimulate solar PV glass industry share notably.

The increasing requirement of PV solar systems across the residential sector will fuel the demand for tempered solar PV glass market, slated to record an annual growth rate of more than 7% over the period of 2017 to 2024. Besides, tempered products have notable thermal stress resistance capability and superior mechanical strength, which will fuel the market growth.

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The float technology is extensively used in thin film photovoltaic modules, pertaining to the key properties such as high flatness, low reflectance, and high light transmittance. Float-based solar PV glass industry will collect considerable revenue over the coming timeframe, owing to the surging adoption of this technology subject to its noteworthy features such as uniform thickness, cost effectiveness, and ease of manufacturing process. This technology is particularly used in architectural applications.

Thin-film CIS covered more than 9% of solar PV glass market in 2016 and will generate significant revenue over the coming seven years. To improve the efficiency of the solar powered systems, market players are reducing the panel dimension, which will subsequently fuel the segment growth. The noteworthy players in solar PV glass industry are Nippon Energy, Xinyi Glass, Guardian Industries, Borosil, Euro Multivision India, Saint Gobain, Guangdong Golden, Sunarc Technology, Flat Glass Group Co., Ltd., and Hecker Glastechnik GmbH & Co. KG.

To expand the business space, market players are adopting easy and cost-effective ways to manufacture the product. Annealed solar PV glass market will exhibit considerable growth over the coming years, owing to the easy availability, cost competitiveness, and simple manufacturing process. In 2016, annealed product segment covered more than 300-million-meter square area.

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