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2022
Solar Encapsulation Market

Solar Encapsulation Market

by Material (Ethylene Vinyl Acetate, Non-ethylene Vinyl Acetate, UV Curable Resin, and Others), Technology (Polycrystalline Silicon Solar, Cadmium Telluride, Copper Indium Gallium Selenide, and Amorphous Silicon), and Application (Construction, Electronics, Automotive, and Others): Global Opportunity Analysis and Industry Forecast 2021-2030

✷  Report Code: A00326
Pages: 392
Feb 2022 | 13877 Views
Author(s) : Mohd Arbaz, Ujjwal Tyagi , Eswara Prasad
Tables: 215
Charts: 112
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COVID-19

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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.

Solar projects were negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in solar encapsulation.

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.

Solar Encapsulation Market
By Material

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Ethylene Vinyl Acetate is projected to create abundant opportunity till 2030

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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.

Solar Encapsulation Market
By Technology

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Polycrystalline Silicon Solar segment is projected as the most lucrative segment.

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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%.

Solar Encapsulation Market
By Application

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Construction is projected as the most lucrative segment.

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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.

Solar Encapsulation Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

APAC is projected to create abundant opportunity till 2030

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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)
 

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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.

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FREQUENTLY ASKED QUESTIONS?

A. Increase in governmental tariffs coupled with solar energy and rising demand for roof top PV installations in developing economies are the major driving factors for the Global Solar Encapsulation Market. In addition, rapid expansion R & D activities in solar products and rising demand of solar lights may create ample of opportunities for the Solar Encapsulation Market.

A. Agreement, business expansion and product launch are the key growth strategy of Global Solar Encapsulation Market players.

A. The report sample for global Rooftop Solar Photovoltaic (PV) installation System Market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

A. Asia-Pacific will provide more business opportunities for Global Solar Encapsulation in future

A. 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 are the leading market players active in the Solar Encapsulation Market.

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning.

A. Construction segment holds the maximum share of the Global Solar Encapsulation Market

A. Solar panel manufacturers and other solar industries are the major customers of global Solar Encapsulation market.

A. Increasing demand for solar encapsulation material in applications such as utility, residential and rise in government tariff and cost of production owing to drive the adoption of solar encapsulation.

A. Technological evolution of solar encapsulation, increasing solar power demand and rise in urbanization are the current trend expected to influence the Global Solar Encapsulation Market in the next few years

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