Global Solar Encapsulation Market by Material (Ethylene Vinyl Acetate (EVA), Non-Ethylene Vinyl Acetate and Others (UV-Curable Resins), Solar Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon and Others (CIGS) and Application (Construction, Automobile, Electronics and Others) - Global Opportunity Analysis and Industry Forecast, 2014-2022
The global solar encapsulation industry is expected to reach $4,231 million by 2022 from $915 million in 2015, growing at a CAGR of 23.1% from 2016 to 2022. A solar encapsulant is used to provide adhesion between the top and the rear surface of the PV solar module to protect the PV modules from elevated temperature and high PV exposure. In addition, the encapsulating materials should have efficient transmission and reflection properties coupled with excellent impact and water resistance.
The solar encapsulation market has witnessed major traction owing to increase in demand for PV solar modules. In addition, excellent mechanical and chemical properties such as durability and thermal resistivity have increased the demand for solar encapsulation material with application in various residential, non-residential, and utility sectors. Based on materials, the demand for ethylene vinyl acetate (EVA) has increased owing to its excellent adhesive strength, elasticity, and toughness. In addition, the growth in demand for photovoltaic modules fuel the demand for EVA in cell encapsulation. Monocrystalline silicon solar modules majorly drive the solar encapsulation market owing to increase in solar rooftop installations. Moreover, R&Ds in thin film technologies such as cadmium telluride and copper indium gallium selenide (CIGS) are expected to boost the demand for solar encapsulations. Furthermore, construction sector has significantly increased the application of roof top and panel installation owing to its increased efficiency. Growth in demand for consumer electronics are expected to soar the demand for solar encapsulation market. however, degradation of solar modules coupled with volatile prices of raw materials are expected to hinder the market growth, but investment in R&Ds to develop efficient solar modules are anticipated to fuel the demand for encapsulation.
North America and Europe have significantly driven the solar encapsulation market owing to increase in PV installations. Furthermore, emerging economies such as China, Japan, and Africa have increased the demand for solar installations and solar capacities. In addition, India is also an emerging market for solar energy market, which is expected to significantly drive the solar encapsulation market.
The report on global solar encapsulation is segmented based on material, which includes ethylene vinyl acetate (EVA), Non-ethylene vinyl acetate, and others (UV curable resins). The non-ethylene vinyl acetate is further bifurcated into thermoplastic polyurethane (TPU), polyvinyl butyral (PVB), polyolefins, ionomers, and others. Based on solar module it includes, monocrystalline, polycrystalline, cadmium telluride, amorphous silicon cells, and others (CIGS). Based on application the market is categorized under construction, automotive, electronics, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top market players in solar encapsulation market include
STR Holdings Inc
Hangzhou First PV material Co. Ltd
KEY BENEFITS FOR STAKEHOLDERS
This report entails the detailed quantitative analysis of the current market and estimations for the period of 2014â2022 to identify the prevailing market opportunities.
In-depth analysis of the drivers, restraints, and opportunities that shape the market structure is provided in the report to understand the market behavior.
The report includes the strategies of key leaders, partnerships, and acquisitions.
Porterâs Five Forces analysis determines the competitive structure of the market to assist in strategy formulation.
KEY MARKET SEGMENTS
Ethylene Vinyl Acetate
Non-Ethylene Vinyl Acetate
UV Curable Resins
By Solar Module
Monocrystalline Silicon Cells
Polycrystalline Silicon Cells
Amorphous Silicon Cells
Others (Copper Indium Gallium Selenide (CIGS))
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Other prominent players are
Saint Gobain Solar
ACC Silicones Â
(The Companies mentioned above are not profiled but can be done on Clientâs request)