PV Module Encapsulant Film Market to Reach USD 4.50 Billion by 2032, Driven by Solar Power Surge

PV Module Encapsulant Film Market size was valued at USD 3.07 Billion in 2024 and the total PV Module Encapsulant Film revenue is expected to grow at a CAGR of 4.9% from 2025 to 2032, reaching nearly USD 4.50 Billion.

PV Module Encapsulant Film Market Overview:

The PV module encapsulant film market plays a critical role in the solar power value chain, offering protective layers that enhance module durability and efficiency. These films act as a barrier between the photovoltaic cells and external factors such as moisture, UV radiation, and mechanical damage. With the increasing global emphasis on renewable energy adoption, especially solar power, the demand for high-performance encapsulant films has been growing steadily. Various encapsulant materials like EVA (ethylene vinyl acetate), POE (polyolefin elastomers), and others are widely used due to their excellent transparency, adhesive strength, and long-term stability.

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PV Module Encapsulant Film Market Dynamics:

The market is driven primarily by the rising installation of solar panels across residential, commercial, and utility-scale sectors. Government incentives, falling solar module prices, and the global push toward carbon neutrality have accelerated solar energy deployment, thereby boosting encapsulant film demand. However, challenges such as raw material price fluctuations and the need for advanced films with better heat resistance and moisture barrier properties continue to impact the market. At the same time, innovation in multilayer film technology and the shift toward bifacial and glass-glass modules are opening up new opportunities for encapsulant film manufacturers.

PV Module Encapsulant Film Market Outlook and Future Trends :

The outlook for the PV module encapsulant film market remains optimistic, fueled by technological advancements and expanding solar installations worldwide. The trend toward high-efficiency modules and the emergence of newer photovoltaic technologies such as perovskite and heterojunction cells are pushing demand for encapsulants with superior performance attributes. Moreover, as countries continue to strengthen their renewable energy targets, the market is expected to see a growing shift toward sustainable and recyclable encapsulant materials to support green manufacturing and environmental regulations.

PV Module Encapsulant Film Market Key Recent Developments:

Recent developments in the market include the launch of high-transparency, UV-stable encapsulant films that improve power output and longevity of solar modules. Leading manufacturers are also focusing on developing thermoplastic films that offer easier lamination and recyclability. In addition, strategic partnerships and capacity expansions by major players in regions like Asia-Pacific, particularly China and India, highlight the industry's response to soaring demand. Ongoing R&D efforts aimed at enhancing the performance of encapsulant films for emerging solar technologies underscore the competitive and innovation-driven nature of the market.

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PV Module Encapsulant Film Market Segmentation:

by Material Type

Ethyl Vinyl Acetate(EVA)
Transparent EVA
White EVA
Anti-PID EVA
Polyolefin Elastomer (POE)
Thermoplastic Polyolefin (TPO)
Polyvinyl Butyral (PVB)

by Thickness

0.20 -0.40mm
0.40-0.60 mm
0.60-0.80 mm

by Weight

Below 400 g/m2
400-475 g/m2
Above 475 g/m2

by Application

Monoficial PV Module
Bifacial PV Module

by End User

Commercial
Industrial
Residential

Some of the current players in the PV Module Encapsulant Film Market are:

1. 3M(US)
2. Borealis(Austria)
3. Changzhou Betterial Film Technologies Co., Ltd.(China)
4. Jiangsu Sveck Photovoltaic New Material(China)
5. Hangzhou First Applied Material(China)
6. Shanghai HIUV New Materials Co(China)
7. Mitsui Chemicals Company(Japan)
8. Arkema(France)
9. Cybrid Technology(Taiwan)
10. Coveme(Italy)
11. RenewSys (India)
12. H.B. Fuller (US)
13. Guangzhou Lushan New Materials Co., Ltd.(China)
14. DuPont de Nemours, Inc.(US)
15. First Solar, Inc(US)
16. STR Holdings, Inc.(US)
17. Bridgestone Corporation( Japan)
18. Mitsui Chemicals, Inc.( Japan)
19. Toyo Aluminium K.K. (Japan)
20. SKC Inc. (South Korea)
21. Kuraray Co., Ltd. ( Japan)
22. Hiuv New Materials Co., Ltd. ( China)

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