Global Solar Photovoltaic Glass Market to Receive overwhelming hike in Revenues, 2025

Solar Photovoltaic (PV) Glass converts solar energy into electric energy. The glass sandwiches the solar cells and provide protection against environmental elements such as dust, moisture, and snow. Solar photovoltaic glass is increasingly being used for building integrated photovoltaics. The PV glass is integrated into the building in the form of windows, roof panels, and building panels. Potential applications in smartphones, vehicles, and greenhouses may boost market in the near future. Moreover, reducing the carbon footprint and meeting targets of Paris Climate Agreement has resulted in government initiatives for solar energy. High growth rates are expected in countries which are lacking in large hydrocarbon reserves. The major challenge is the high capital expenditure in setting up of solar energy equipment. Also, availability of high quality solar photovoltaic glass is a detrimental factor to market growth.

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Solar Photovoltaic Glass Market Taxonomy

On the basis of Modules, the solar photovoltaic glass market is segmented as-

Thin Film Modules
Crystalline Modules
Amorphous Modules

On the basis of type of glass, the solar photovoltaic glass market is segmented as-

Anti-reflective Coated Glass
Transparent Conductive Oxide (TCO) Coated Glass
Tempered Glass
Others

On the basis of application, the solar photovoltaic glass market is segmented as-

Residential
Building Panels
Roof Panels
Water Heaters
Cookers
Battery Chargers
Others
Non-Residential
Building Panels
Roof Panels
Solar lasers
Solar vehicles
Space crafts and Space Stations
Others
Utility
Solar Power Plants

Anti-reflective coating reduces reflection which in turn increases the amount of light absorbed by the solar cells, which resulted in the increased energy production. TCO coated glass optimizes light transmission into the solar modules. Tempered Glass is strongest glass, made by heating glass to 600OC and then cooling it with airflow.

Solar PV Glasses are used in both residential and non-residential applications. However, high installation cost involved with solar photovoltaic glass is further hindering the growth of solar photovoltaic glass market. Furthermore, R&D and innovation will help drive down solar PV glass production costs which will augment market growth.

Solar Photovoltaic Glass Market Outlook

Asia Pacific is the fastest growing market for solar photovoltaic glass market. The growing population and insufficient energy is expected to drive the industry in this region over the forecast period. China’s emergence as a leading solar panel manufacturer has augmented the market growth. According to the International Energy Agency (IEA), China has installed more than 34 GW of solar capacity in 2016 to mark itself the leading user of solar panel in the world. Also, Japan witnessed a 4.3% growth in solar energy production in 2016, according to Japan Ministry of Economy, Trade and Industry.

Europe is dependent on imports from Russia and Middle East to meet its energy requirements. This has led to increased investment in solar energy projects on both residential and commercial scale. The European Union aims to meet 12% of its energy requirements by use of photovoltaic glass by 2020. Germany is the second largest producer of solar energy in the world.
North America has witnessed a slowdown in the demand for solar energy. This has been attributed to a shale boom and low oil and gas prices. Moreover, natural gas is less polluting than coal and hence, found acceptability among public and industries.

The Middle East and North Africa are emerging markets for solar energy. Saudi Arabia and UAE are the major players in this region. The region has tremendous potential but growth is slow due to large hydrocarbon reserves in the region.

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Latin America is a world leader in renewable resources with 52% of energy production from renewable sources. Although, hydropower accounted for the major share. A shift towards solar is expected as hydropower projects face criticisms due to ecological implications of obstructing river flow in rainforests. Moreover, lack of abundant hydrocarbon reserves has driven solar energy market.

In 2017, researchers in the RMIT University, in Australia, has developed a solar paint which is able to generate hydrogen fuel from water vapor and sunlight. Although, still in R&D stage, market growth in the coming years is expected as more applications are developed.

Key Players in the Solar Photovoltaic Glass Market

Key players in the solar photovoltaic glass market include AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Borosil Glass Works Ltd., Flat Glass Co., Ltd., Interfloat Corporation, Guangdong Golden Glass Technologies, Hecker Glastechnik GmbH & Co. KG, F solar GmbH, Emmvee Toughened Glass Private Limited, and Euroglas.

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