Press release
Global Photovoltaic Backsheet Market to Grow from USD 2.25 Billion in 2023 to USD 3.10 Billion by 2030 at 4.7% CAGR - Photovoltaic Backsheet Market forecast
◉Opening ParagraphAccording to Maximize Market Research, the global photovoltaic backsheet market was valued at USD 2.25 billion in 2023 and is projected to reach USD 3.10 billion by 2030, growing at a CAGR of 4.7% during 2024-2030.
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◉Key Highlights
Market Size & CAGR: USD 2.25 billion in 2023 → USD 3.10 billion by 2030 at 4.7% CAGR
Leading Material Segment: Fluoride-based backsheets held ~64% market share in 2024 for superior UV and moisture resistance
Fastest-Growing Installations: Floating solar installations ramping up due to demand for waterproof, corrosion-resistant backsheets
Leading Regional Market: North America dominated in 2024 (~41.7% share), with Asia-Pacific as the fastest-growing region supported by massive solar deployment
Key Drivers: Growth underpinned by rising solar PV installations, government incentives, and development of durable, high-performance backsheets
Top Companies: Major manufacturers include Coveme, TORAY, Jolywood, Isovoltaic, and Dunmore
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◉Body Content
Market Outlook
The Photovoltaic Backsheet Market is expected to grow from USD 2.25 billion in 2023 to USD 3.10 billion by 2030, reflecting a 4.7% CAGR. Demand is largely driven by global expansion of solar installations, regulatory incentives for renewable energy, and continuous improvements in backsheet materials to enhance durability and energy efficiency.
Regional Insights
North America held the largest market share (~41.7%) in 2024, fueled by utility-scale solar deployments, federal incentives, and demand for high-performance backsheets.
Asia-Pacific is the fastest-growing region, supported by aggressive solar expansion, manufacturing scale-up, and supportive policy frameworks in China, India, and Southeast Asia
Segment & Material Trends
Material Segmentation: Fluoride backsheets dominate (~64%) due to their superior UV and weather resistance
Innovation: PVDF and ultra-thin backsheets are gaining traction, offering lighter, high-performance options for advanced solar modules, especially in bifacial and floating applications
Installation Trends: Floating solar installations are emerging fast, demanding backsheets with enhanced waterproofing and corrosion resistance
Growth Drivers & Market Dynamics
Drivers: Renewable energy adoption, declining solar panel costs, and government incentives continue to drive backsheet demand.
Restraints: High raw material costs and technological adoption lag in emerging markets may temper growth.
Opportunities: Eco-friendly, recyclable backsheets and customized solutions for varied climatic zones are areas of innovation.
Competitive Landscape
Leading players-Coveme (Italy), TORAY (Japan), Isovoltaic (Austria), Dunmore (USA), Jolywood (China)-are investing in R&D, product innovations, and regional expansion to address the evolving demands of the PV module market.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/global-photovoltaic-backsheet-market/74444/
◉Quote
"With the photovoltaic backsheet market forecast set for steady growth through 2030, driven by expanding solar deployments and material innovation, suppliers that deliver durable, eco-efficient solutions will lead the transformation," said an industry analyst.
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◉About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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