Global Solar Encapsulation Market is expected to increase
during the forecast period owing to the rising demand for photovoltaic modules,
technological evolution of solar encapsulation, increasing solar power demand,
and rise in urbanization.
Solar Encapsulation is defined as critical
component of solar module. It is a type of polymer that is formulated to allow
as much sunlight to pass through to the solar PV Cells as possible while
blocking harmful UV radiations.
Growing Digitalization in Emerging
Economies
For emerging economies to increase growth
rates and participate in the global economy, digitalization offers significant
economic prospects. Digitalization improves communication between people, makes
better use of resources, and hastens growth in both development and the
economy. Governments and international organisations are promoting and making
significant investments in digitalization to take advantage of its potential
benefits. For instance, the Indian government has been operating the digital
India programme. By enhancing online infrastructure, expanding internet
connectivity, or giving the nation digital empowerment, digitalization helps in
the services provided to people electronically. This led to a greater consequence
to digitization, which raised electronics consumption, which in turn increased
electricity demand. Therefore, growing digitalization stimulates the Global
Solar Encapsulation Market by driving demand for goods of an electrical
quality.
Technological Proliferation
Prices
for solar PV modules are falling as a result of rising energy demands and rapid
technological advancement. Although the market is still in its infancy,
increasing acceptance and the lack of significant product substitutes will
guarantee stable market expansion going forward. Future encapsulation prices
will be lowered by ongoing R&D efforts by current PV module producers, who
will also infrastructural developments encapsulants for emerging PV
technologies. Future advances in organic solar technology will spur more
investment in the solar encapsulation sector.
Growing Demand for Environmentally
Sustainable Solutions
Globally, there is a need to cut carbon
emissions and find environment friendly alternatives. Rising environmental
concerns and the depletion of conventional energy sources has led to a
significant shift toward renewable energy sources. Rapid urbanisation has also
led to an increase in solar panel sales, which has increased demand for
encapsulation, which is anticipated to be the primary driver of market growth.
Along with these aspects, it is anticipated that the presence of properties
like robust insulation, mechanical resistance, good light, and transmittance
would foster growth in the global solar encapsulation market throughout the
course of the anticipated time.
Rising Demand for Photovoltaic Modules
As solar is becoming a more efficient source
of electricity and because people are becoming more conscious of green energy
sources, solar PV modules are in high demand. Government organizations in
developing nations like, China and India have set objectives to use the solar
technology at broad level. In addition to this, government started investment
policies in the solar encapsulation industry to increase the demand for solar
PV modules. Although the market is still
in its early phases of development, increased acceptance and a lack of product
alternatives will ensure steady market expansion in the next years. Future
price reductions in encapsulation as well as the creation of innovative
encapsulants for emerging PV technologies will result from current PV module
makers continuous R&D efforts. As organic solar technology advances, more
investment will be attracted to the solar encapsulation industry.
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Market Segments
Global Solar
Encapsulation Market is segmented by material, technology, application, and by
region. Based on material, the market is segmented into ethylene vinyl acetate,
non-ethylene vinyl acetate, UV curable resins, and others. Based on technology,
the market is segmented into polycrystalline silicon solar, cadmium telluride,
copper indium gallium selenide, and amorphous silicon. Based on Application,
the market is segmented into construction, electronics, automotive, and Others.
Market Players
Major
market players in the Global
Solar Encapsulation Market are 3M, Jiangsu Akcome Science
& Technology Co., Ltd., Targray Technology International Inc., Kuraray
Europe GmbH, Akrema Group, XinDongke Energy Technology Co.Ltd, First
Solar, Inc., E.I. DuPont, Renewable Energy World, Kuraray Co. Ltd.
Recent Developments
In September 2022, GS Energy and Hanwha Solutions’ Chemical Division announced a joint venture named as H&G Chemical, to produce ethylene-vinyl acetate (EVA). H&G Chemical aims to quickly grow into a global top-tier EVA manufacturer by combining Hanwha Solutions’ accumulated production capabilities with cost-effective raw materials of GS Caltex, a subsidiary of GS Energy.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2022
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Estimated Year
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2023
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Forecast Period
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2024
– 2028
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Quantitative Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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By Material
By Technology
By Application
By Region
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Regional Scope
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North
America, Europe, Asia-Pacific, Middle East & Africa, South America
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Country scope
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United States, Canada, Mexico, Germany, France, Italy, Spain, United
Kingdom, China, India, Japan, Australia, South Korea, UAE, Saudi Arabia,
South Africa, Brazil, Argentina, Chile
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Key companies profiled
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3M,
Jiangsu Akcome Science & Technology Co., Ltd., Targray Technology
International Inc., Kuraray Europe GmbH, Akrema Group, XinDongke Energy
Technology Co.Ltd, First Solar, Inc., DuPont
, Renewable Energy World, Kuraray Co. Ltd.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, Global Solar Encapsulation Market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
- Solar Encapsulation Market, By Material:
- Ethylene Vinyl Acetate
- Non-ethylene Vinyl Acetate
- UV Curable Resin
- Others
- Solar Encapsulation Market, By Technology:
- Polycrystalline Silicon Solar
- Cadmium Telluride
- Copper Indium Gallium Selenide
- Amorphous Silicon
- Solar Encapsulation Market, By Application:
- Construction
- Electronics
- Automotive
- Others
- Solar Encapsulation Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ Germany
§ France
§ Italy
§ Spain
§ United Kingdom
§ Rest of Europe
o Asia pacific
§ China
§ India
§ Japan
§ South Korea
§ Australia
§ Rest of Asia Pacific
o
Middle
East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Rest of MEA
o
South
America
§ Brazil
§ Argentina
§ Chile
§ Rest of South America
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Global Solar Encapsulation Market.
Available Customizations:
Global Solar Encapsulation Market with
the given market data, Tech Sci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company Information
·
Detailed
analysis and profiling of additional market players (up to five).
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