Solar Paint Market to Grow with Impressive CAGR of 21.38% During the Forecast Period 2027-2031
Solar Paint Market is driven by rising demand for
renewable energy generation, while advancing technologies accelerate global
adoption during the 2027–2031 forecast period.
According to TechSci Research report, “Solar Paint
Market - Global Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2021-2031” The Global Solar Paint Market will grow from USD 1.41
Billion in 2025 to USD 4.51 Billion by 2031 at a 21.38% CAGR, on
account of increasing demand for renewable energy generating products. Surge in
the demand for renewable sources of energy for eco-friendly energy production
is further driving the growth of the global solar paint market in the upcoming
five years. Moreover, increased dependency on renewable energy for the daily
energy consumption globally is anticipated to support the growth of the global
solar paint market in the next five years. Advancing technologies and
innovative product development to enhance the effective and efficient
production of renewable energy substantiates the growth of the global solar
paint market in the future five years.
Also, increasing inclination of the population toward
electric vehicles is also expected to aid the growth of the global solar paints
market in the forecast years, until 2027. Increasing awareness regarding
depleting environmental resources are also responsible for the growth of the
global solar paints market. Furthermore, rising concerns toward excessive usage
of non-renewable sources of energy and thus shift toward renewable sources of
energy like solar energy to compensate the excessive demand for electricity is
also actively responsible for the growth of the market. Also, increasing demand
for eco-friendly production is further aiding to the growth of the global solar
paints market in the forecast period.
Although, the commercialization of solar paints has not yet
started, the product has major demand and may soon be commercialized all over
the world and support the growth of the global solar paint market in future.
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and an in-depth TOC on " Global Solar Paint Market"
The global solar paint market segmentation is based on
technology, end user, application, regional distribution, and competitive
landscape. Based on technology, the market is fragmented into solar paint
hydrogen, quantum dot (photovoltaic paint), perovskite solar paint. Solar paint
hydrogen is the latest technology of using solar energy to generate energy from
water vapors. This paint contains a specifically designed synthetic substance
called synthetic molybdenum-sulphide and titanium oxide that uses the absorbed
moisture and breaks it down into hydrogen and oxygen particles. This hydrogen
can then be utilized to produce clean energy. Quantum dots, also known as
photovoltaic paint, are nanoscale semiconductors that trap the light energy
from the sun and convert it into electric energy. Variant sizes of the quantum
dots can manage the amount of light absorption spectrum. Perovskite solar paint
is a spray on solar paint. Perovskite material is derived from a mineral,
calcium titanium oxide. When the material is sprayed on a surface, the surface
acts like a solar-energy harnessing layer thus utilizing it to generate
electric energy.
Market segmentation based on end user bifurcates into solar
paint to existing solar setups, solar painted vehicles, and standalone
power-generating solar setup. Solar paint to existing solar setups is
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years on account of its easier and
effective applications. This process may be utilized to enhance the performance
of existing setups thus expected to be cost-effective and drive the growth of
the global solar paint market in the next five years.
Some of the market players dominating the global market
are:
Tel Aviv-based SolarPaint Ltd.
Transfer Electric GmbH
Solar Energy Corporation
Onyx Solar
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“Asia Pacific region is anticipated to register a robust
growth in the future five years on the grounds of increasing demand for the
renewable source of energy in the major economies of the region. Increasing
concerns among the population regarding air pollution, carbon emission, and
demand for the methods and processes to control such hazards through advanced
technologies is further driving the growth of the global solar paints market in
the region.
Also, in countries like China, Japan, South Korea, rapid
advancement in the automotive and thus incorporating eco-friendly methods of
automobile chargeability is supporting the growth of the market in the next
five years. Countries like India have very high usability of renewable energy
and may soon surpass usability of renewable sources of energy in European
region, thereby substantiating the growth of the global solar paint market in
the future five years.
New market players may invest in extended research to
support market growth and product launch in future,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Solar Paint Market - Global Industry Size, Share, Trends,
Competition, Opportunity and Forecast, Segmented By Technology (Solar Paint
Hydrogen, Quantum Dot (Photovoltaic Paint), Perovskite Solar Paint), By End
User (Solar Paint to Existing Solar Setups, Solar Painted Vehicles, Standalone
Power-Generating Solar Setup), By Application (Rooftop, Wall, Door, Window), By
Region 2021-2031F”, has evaluated the future growth potential of global
solar paint and provides statistics & information on market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global solar paint market.
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