Press release
Solar Encapsulation Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Solar Encapsulation
What Is the Projected Growth of the Solar Encapsulation Market?
The size of the solar encapsulation market has seen a significant increase over the past few years. It is projected to increase from $4.18 billion in 2024 to $5.23 billion in 2025, boasting a compound annual growth rate (CAGR) of 25.1%. The surge in growth during the historic period can be credited to a rise in government incentives and subsidies promoting the use of solar energy, heightened awareness and concern for environmental sustainability, the increasing demand for clean and renewable energy sources, a decrease in the cost of solar energy production, and the growing popularity of solar PV modules.
Anticipated to experience substantial growth in the coming years, the solar encapsulation market is projected to reach a valuation of $11.27 billion in 2029, with a compound annual growth rate (CAGR) of 21.2%. Numerous factors contributing to the growth in the forecast period include the accelerated expansion of the solar energy sector in developing economies, increased demand for photovoltaic solar systems, the application of transparent conductive materials, and the combination of energy storage solutions with solar encapsulation systems. Future trends to watch for in this period comprise developments in encapsulation material technology, increased research and development into superior encapsulation materials, development of more lightweight and flexible solar encapsulation materials, the breakthrough of intelligent encapsulation technologies that allow real-time monitoring and maintenance, and the customization of encapsulation materials to accommodate unique climatic conditions.
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What Are the Different Solar Encapsulation Market Segments?
The solar encapsulation market covered in this report is segmented -
1) By Material: Non-Ethylene Vinyl Acetate, UV Curable Resin, Other Materials
2) By Solar Module: Polycrystalline Silicon Cells, Cadmium Telluride, Amorphous Silicon Cells, Other Solar Modules
3) By Application: Automotive, Electronics, Other Applications
Subsegments:
1) By Non-Ethylene Vinyl Acetate (EVA): Polyolefin-Based Encapsulants, Silicone-Based Encapsulants
2) By UV Curable Resin: Epoxy Resins, Polyurethane Resins
3) By Other Materials: Thermoplastic Polyurethane (TPU), Adhesive Films, Polyamide (PA)
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What Are the Primary Drivers Shaping the Solar Encapsulation Market?
Growth in the solar encapsulation market is being fueled by an increased demand for rooftop photovoltaics (PV) setups in emerging economies. A PV system, purposed to deliver usable solar power via photovoltaics - a system featuring components like solar panels to convert sunlight into energy - is seeing adoption because of depleting non-renewable energy sources and escalating environmental concerns. There's been a convincing shift to renewable energy alternatives like solar power and the use of PV systems, such as rooftop PV setups. As the number of rooftop PV setups in developing countries increases, so does the need for solar encapsulation, an essential process for ensuring PV reliability and enhancing its longevity. For example, in September 2022, the France-based autonomous intergovernmental organization, International Energy Agency, reported that households reliant on solar PV are expected to grow from today's 25 million to over 100 million by 2030. Additionally, Japan's Environment and Trade Ministries aim to achieve 108 gigawatts of solar capacity by 2030, which is 1.7 times the previous goal and implies every structure, parking lot, and farm in Japan will be equipped with rooftop panels. Therefore, the heightened demand for solar PV setups will increase the need for solar encapsulations, thereby propelling the solar encapsulation market.
Which Companies Are Leading in the Solar Encapsulation Market?
Major companies operating in the solar encapsulation market include Minnesota Mining and Manufacturing Company, Akcome Science and Technology Co. Ltd., STR Holding Inc., Bridgestone Corporation, Dow Inc., Du Pont De Nemours and Company, Trosifol India Pvt. Ltd., First Solar Inc., Ai Technology Inc., Celanese Corporation, Eastman Chemical Company, Momentive Performance Materials Inc., Hangzhou First PV Material Co. Ltd., Changzhou Sveck Technology Co. Ltd., Coveme SpA, Encapsulantes de Valor Agregado S. A. de C. V., Eva SA, Folienwerk Wolfen GmbH, Guangzhou Baiyun Chemical Industry Co. Ltd., Henkel AG & Co. KGaA, Hiuv New Materials Co. Ltd., Isovoltaic AG, Jolywood Sunwatt Co. Ltd., Kansai Paint Co. Ltd., Krempel GmbH, Kuraray Co. Ltd., Madico Inc., Mitsui Chemicals Inc., Nippon Sheet Glass Co. Ltd., Renolit SE, Saint-Gobain SA, Sekisui Chemical Co. Ltd., Solutia Inc., Taiflex Scientific Co. Ltd., Toppan Printing Co. Ltd., Toray Industries Inc., UBE Industries Ltd., Wacker Chemie AG, Zhejiang Reisun Solar Energy Co. Ltd., PVB Interlayer Products Inc.
What Are the Major Trends Shaping the Solar Encapsulation Market?
In the solar encapsulation market, technological advancement is becoming a prominent trend. Leading players are prioritizing the introduction and adoption of superior encapsulation technology for solar modules. These advanced encapsulation techniques fill the voids between solar cells, thereby enhancing the performance of PV modules and accommodating modular designs. Businesses can expand and gain an advantage over their competitors through the application of these high-end encapsulation technologies. For example, JA Solar Holdings, an established solar development firm from China, unveiled DeepBlue 4.0 X in May 2022. This new n-type PV module employs specially crafted encapsulation materials and proprietary GFI (Gapless Flexible Interconnection) high-density module encapsulation technology, which effectively combats mechanical stress at cell interconnections and minimizes the risk of micro-cracking.
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What Are the Top Revenue-Generating Geographies in the Solar Encapsulation Market?
Asia-Pacific was the largest region in the solar encapsulation market in 2024.The regions covered in the solar encapsulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Solar Encapsulation Market?
2. What is the CAGR expected in the Solar Encapsulation Market?
3. What Are the Key Innovations Transforming the Solar Encapsulation Industry?
4. Which Region Is Leading the Solar Encapsulation Market?
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