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.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2022

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Material

By Technology

By Application

By Region

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa, South America

Country scope

United States, Canada, Mexico, Germany, France, Italy, Spain, United Kingdom, China, India, Japan, Australia, South Korea, UAE, Saudi Arabia, South Africa, Brazil, Argentina, Chile

Key companies profiled

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.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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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1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Study

2.    Research Methodology

2.1.  Baseline Methodology

2.2.  Methodology Followed for Calculation of Market Size

2.3.  Methodology Followed for Calculation of Market Shares

2.4.  Methodology Followed for Forecasting

3.    Executive Summary

4.    Impact of COVID-19 on Global Solar Encapsulation Market

5.    Voice of Customer

6.    Global Solar Encapsulation Market Outlook

6.1.   Market Size & Forecast

6.1.1.                           By Value

6.2.   Market Share & Forecast

6.2.1.                           By Material (Ethylene Vinyl Acetate, Non-ethylene Vinyl Acetate, UV Curable Resin and Others)

6.2.2.                           By Technology (Polycrystalline Silicon Solar, Cadmium Telluride, Copper Indium Gallium Selenide, and Amorphous Silicon)

6.2.3.                           By Application (Construction, Electronics, Automotive and Others)

6.2.4.                           By Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America)

6.2.5.                           By Company (2022)

6.3.  Market Map (By Material, By Technology, By Application, By Region)

7.    North America Solar Encapsulation Market Outlook

7.1.   Market Size & Forecast

7.1.1.     By Value

7.2.   Market Share & Forecast

7.2.1.               By Material

7.2.2.               By Technology

7.2.3.               By Application

7.2.4.               By Country

7.3.  North America: Country Analysis

7.3.1.               United States Solar Encapsulation Market Outlook

7.3.1.1.   United States Country Profile

7.3.1.2.        Market Size & Forecast

7.3.1.2.1.            By Value

7.3.1.3.        Market Share & Forecast

7.3.1.3.1.     By Material

7.3.1.3.2.     By Technology

7.3.1.3.3.     By Application

7.3.2.               Canada Solar Encapsulation Market Outlook

7.3.2.1.   Canada Country Profile

7.3.2.2.        Market Size & Forecast

7.3.2.2.1.            By Value

7.3.2.3.        Market Share & Forecast

7.3.2.3.1.     By Material

7.3.2.3.2.     By Technology

7.3.2.3.3.     By Application

7.3.3.               Mexico Solar Encapsulation Market Outlook

7.3.3.1.   Mexico Country Profile

7.3.3.2.        Market Size & Forecast

7.3.3.2.1.            By Value

7.3.3.3.        Market Share & Forecast

7.3.3.3.1.     By Material

7.3.3.3.2.     By Technology

7.3.3.3.3.     By Application

8.    Europe Solar Encapsulation Market Outlook         

8.1.   Market Size & Forecast

8.1.1.                By Value

8.2.   Market Share & Forecast

8.2.1.               By Material

8.2.2.               By Technology  

8.2.3.               By Application