Press release
Rising Demand for Energy Efficiency Fuels Growth in the Solar Encapsulation Market 2022 - 2030
In terms of revenue, global solar encapsulation market was valued at US$ 2.7 Bn in 2021 growing at a CAGR of 8.7% over the forecast period (2022 - 2030).
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Some of the Key Players Operating in the Global Solar Encapsulation Market include:
3M
Blue Solaria Co., Ltd.
dnpSolar
Dow
Dupont De Nemours Inc
Fraunhofer ISE
HANWHA EUROPE GmbH
PowerFilm Solar, Inc.
RenewSys India Pvt. Ltd.
STR Holdings Inc
Targray Technology International Inc.
Vishakha Renewables Pvt. Ltd.
Other Market Participants
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Market Dynamics:
Several factors are driving the growth of the Solar Encapsulation Market. Firstly, the increasing demand for energy efficiency and sustainability has led to the adoption of solar power on a large scale. Governments around the world are offering incentives and subsidies to encourage the use of renewable energy, further boosting market growth. Additionally, the declining cost of solar technology has made it more accessible to a wider range of consumers, leading to increased demand for encapsulation materials.
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Market Trends:
Rising demand for high-performance materials: The demand for encapsulation materials that offer better performance and reliability is on the rise. This has led to the development of advanced materials such as polyvinyl butyral (PVB) and ethylene-vinyl acetate (EVA) that offer superior protection and durability.
Growth of the utility-scale solar sector: The utility-scale solar sector is experiencing rapid growth, with large-scale solar projects being developed in various countries. This has led to an increase in demand for encapsulation materials on a massive scale.
Increase in demand for flexible encapsulation materials: The demand for flexible encapsulation materials that can be used in curved or irregularly shaped solar panels is increasing. These materials offer improved performance and efficiency compared to traditional encapsulation materials.
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Global Solar Encapsulation Market Segmentation:
By Material
Ethylene vinyl acetate (EVA)
polyvinyl butyral (PVB)
Thermoplastic polyurethane (TPU).
Polyolefin Elastomers
Silicon
Others
By Technology
Cadmium Telluride
Polycrystalline Silicon
Copper Indium Gallium Selenide
Amorphous Silicon (a-Si)
By Application
Construction
Automotive
Electronics
Others
By Geography
North America [U.S., Canada, Mexico]
Europe [Germany, UK, France, Italy, Rest of Europe]
Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
South America [Brazil, Argentina, Rest of Latin America]
Middle East & Africa [GCC, North Africa, South Africa, Rest of the Middle East and Africa]
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