Solar Encapsulation Market Size, Share, Competitive Landscape and Trend Analysis Report by Material, Technology and Application : Global Opportunity Analysis and Industry Forecast 2021-2030

Solar Encapsulation Market Growth- 2030

The global solar encapsulation market size was valued at $2.6 billion in 2020, and is projected to reach $6.1 billion by 2030, growing at a CAGR of 8.7% from 2020 to 2030. The solar module back sheets contain multiple layers of barrier films and adhesives. The back sheet construction is important in protecting the solar cells from different environmental conditions such as moisture, UV exposure, and other performance threats, while improving solar module efficiency by aiding the reduction of partial module cost. The encapsulation film protects the solar cell and ensures its reliability and performance. Its role is to provide optical and electrical transmissivity by keeping the moisture out. Encapsulants provide an opportunity for realizing enhanced efficiencies in the module manufacturing process. Encapsulation is a key step in the production of solar cells. Without a good encapsulation process, even the best solar cells cannot produce good solar modules.

The encapsulation of the solar cell not only increases the life of the solar cell but also enhances the attack strength. High quality and longevity of the product is the key to winning customer satisfaction, so the encapsulation quality of solar modules is important.

Urbanization led to increase in the demand for solar panel, which, in turn, increases the demand for encapsulation which may act as the major driving factor for the market. In addition, rise in demand for solar lights for road divider and streets create ample of opportunities for the solar encapsulation market.

The solar encapsulation market is segmented on the basis of material, technology, application, and region. Depending on material, the market is categorized into ethylene vinyl acetate, non-ethylene vinyl acetate, UV curable resin, and others. Depending on technology, it is classified into polycrystalline silicon solar, cadmium telluride, copper indium gallium selenide, and amorphous silicon. According to application, it is classified into construction, electronics, automotive, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global solar encapsulation market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the solar encapsulation industry report include 3M Company, AKCOME, STR Holding Inc., Bridgestone Corporation, DNP solar, Dow Inc., Dupont De Nemours Inc, First Solar, Hangzhou First PV Material Co. Ltd., and JGP Energy.

Global Solar Encapsulation Market, By Material

By material, the ethylene vinyl acetate segment dominated the global market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to its low degradability to sunlight and good radiation transmission.

Global Solar Encapsulation Market, By Technology

Depending on technology, the polycrystalline silicon solar segment dominated the global market in 2020, and is projected to remain the fastest-growing segment during the forecast period. These solar cells are widely used and also deliver efficiencies within the range 15-25%.

Global Solar Encapsulation Market, By Application

According to application, the construction segment dominated the global market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed due to urbanization and expansion of cities & road network.

Global Solar Encapsulation Market, By Region

Region wise, Asia-Pacific dominated the global market in 2020, and is projected to remain the fastest-growing segment during the forecast period. This is attributed to numerous factors such as a large consumer base and industrialization & urbanization.

Key Benefits For Stakeholders

• The report provides an in-depth analysis of the global solar encapsulation market trends along with the current and future market forecast.
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
• Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global solar encapsulation market for strategy building.
• A comprehensive global solar encapsulation market analysis covers factors that drive and restrain the market growth.
• The qualitative data in this report aims on market dynamics, trends, and developments.

Impact Of Covid-19 On The Global Solar Encapsulation Market

• The manufacturing of solar encapsulation was halted for a specific period due to high peak of COVID-19 situation, which highly impacted the sales of solar encapsulation.
• Sales of solar encapsulation is directly proportional to the demand of solar panels. Solar projects were negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in solar encapsulation.
• COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to less workforce. However, there is a sluggish decline in the global solar encapsulation market due to impact of COVID-19. 
• Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using solar encapsulation, thereby affecting the global market. 
• According to the UNIDO, 30.0%–70.0% of pre-COVID-19 workforce of various industries, such as chemical, petrochemical, oil & gas, HVACR, food & beverage, power generation, and other third-party vendors migrated to their hometowns, due to uncertainties and loss of income during the lockdown. This unavailability of workforce directly affected the production and manufacturing activities, thereby resulting in decline in demand for raw materials used in solar encapsulation. This is expected to decline the growth of the market during the forecast period.
• The COVID-19 pandemic negatively impacted the integrated construction industry. Factors include disruption due to migration of workers and unavailability of material. However, decrease in construction activity significantly impacts solar encapsulation market.

  Solar Encapsulation Market Report Highlights

Aspects	Details
By Material	Ethylene Vinyl Acetate Non-ethylene Vinyl Acetate UV Curable Resin Others
By Technology	Polycrystalline Silicon Solar Cadmium Telluride Copper Indium Gallium Selenide Amorphous Silicon
By Application	Construction Electronics Automotive Others
By Region	North America   (U.S., Canada, Mexico) Europe   (Germany, France, UK, Italy, Spain, Rest of Europe) Asia-Pacific   (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific) LAMEA   (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Analyst Review

Solar energy can be used to generate heat for a wide variety of industrial applications, including water desalination, enhanced oil recovery, food processing, chemical production, and mineral processing. The global solar encapsulation market has registered a dynamic growth over the past few years, owing to drastic growth in above mentioned industries and urbanization. In addition, huge investment plans with respect to renewable sources of energy boost the demand for solar encapsulation across the globe. Moreover, according to the Energy Information Administration, in 2019, the industrial sector accounted for 35% of the total U.S. end-use solar energy consumption and 32% of the total U.S. energy consumption. Advancing solar technologies for industrial processes help to meet the goals of the U.S. Department of Energy Solar Energy Technologies Office to create a carbon-free energy sector by 2050. Furthermore, encapsulation film protects the solar cell and ensures its performance and reliability. Its role is to provide optical and electrical transmissivity and keep out moisture. Solar power is pollution-free and causes no greenhouse gases to be emitted after installation. In addition, it reduces dependence on foreign oil and fossil fuels and with that power could be available every day of the year, even cloudy days produce some power.

Author Name(s) : Mohd Arbaz| Ujjwal Tyagi | Eswara Prasad

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