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Solar Encapsulation Market worth $8.48 billion by 2030, growing at a CAGR of 7.67% - Exclusive Report by 360iResearch
Solar Encapsulation Market | 360iResearch
The Global Solar Encapsulation Market to grow from USD 5.05 billion in 2023 to USD 8.48 billion by 2030, at a CAGR of 7.67%.
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Solar encapsulation refers to the process of enclosing or sealing photovoltaic (PV) solar cells within a protective laminate to ensure robust protection against environmental factors such as moisture, UV radiation, and mechanical stress. Encapsulation materials are made from ethylene-vinyl acetate (EVA), polyolefin elastomer (POE), or thermoplastic polyurethane (TPU), chosen for their adhesive properties, clarity, and resistance to potential chemical and physical degradation over extended periods. The encapsulant ensures the preservation of electrical performance by providing insulation and maintaining solid electrical connections between cells. Solar encapsulation prevents corrosion of the cells by creating a barrier against oxygen and water ingress. Additionally, the flexibility of the encapsulant promotes the dissipation of thermal stresses, which further contributes to the overall service life of the solar panels. The increase in solar energy installations and government policies for promoting renewable energy use are expanding the scope of the solar encapsulation market worldwide. However, high costs associated with developing and producing advanced encapsulation materials and issues related to the recycling and disposal of solar panels can affect the penetration of solar encapsulation. Nevertheless, developing new encapsulation materials and innovations in solar modules compatible with flexible and lightweight encapsulants are expected to drive the demand for the solar encapsulation market in the coming years.
The Americas represent a significant market for solar encapsulation materials, owing to robust government initiatives and renewable energy mandates. Customer purchasing behavior shows a growing preference for sustainable energy solutions, promoting solar installations in residential, commercial, and utility sectors. In the Asia Pacific region, the massive manufacturing base and government support for photovoltaic technology have bolstered solar investments across the region. Moreover, favorable government policies and the development of new encapsulant materials to maximize the efficiency of solar panels are expanding the scope of the solar encapsulation market. The EMEA region showcases strong government commitment towards renewable energy with stringent environmental regulations and targets to drive the penetration of solar encapsulation. The Middle East has shown impressive strides in solar energy with large-scale solar projects, presenting new opportunities for encapsulation material providers. The ongoing advancements in encapsulation materials and supportive government investments for solar projects in the EMEA region are anticipated to augment the solar encapsulation market in the coming years.
Market Segmentation & Coverage:
This research report categorizes the Solar Encapsulation Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Material Type, market is studied across Ethylene Vinyl Acetate (EVA), lonomer, Polydimethylsiloxane (PDMS), Polyolefin, Polyvinyl Butyral (PVB), and Thermoplastic Polyurethane (TPU). The Polyvinyl Butyral (PVB) is projected to witness significant market share during forecast period.
Based on Technology, market is studied across Crystalline Silicon Solar and Thin-Film Solar. The Crystalline Silicon Solar is projected to witness significant market share during forecast period.
Based on Installation Type, market is studied across Building-Integrated Photovoltaic, Floating Photovoltaic, and Ground-Mounted. The Ground-Mounted is projected to witness significant market share during forecast period.
Based on End-Use, market is studied across Commercial and Residential. The Commercial is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.21% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Solar Encapsulation Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Solar Encapsulation Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Solar Encapsulation Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Alishan Green Energy Pvt. Ltd., Astenik Solar Inc., Borealis AG, BREYER Maschinenfabrik GmbH, China JWELL Intelligent Machinery Co.,Ltd., dnpSolar, Dunmore Corporation, ENERLITE SOLAR FILMS INDIA PVT LTD, Enrich Encap Pvt Ltd., Hangzhou First Applied Materials Co., Ltd., Heliatek GmbH, JA Solar Technology Co., Ltd., Lucent CleanEnergy, Mitsubishi Chemical Corporation, Mitsui Chemicals Group, Navitas Alpha Renewables Private Limited, RenewSys India Pvt. Ltd., Saint-Gobain S.A., Shenzhen Gaoren Electronic New Material Co. Ltd., Targray Technology International Inc., The Dow Chemical Company, USEON Technology Limited, and Vishakha Renewables Pvt. Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Solar Encapsulation Market, by Material Type
7. Solar Encapsulation Market, by Technology
8. Solar Encapsulation Market, by Installation Type
9. Solar Encapsulation Market, by End-Use
10. Americas Solar Encapsulation Market
11. Asia-Pacific Solar Encapsulation Market
12. Europe, Middle East & Africa Solar Encapsulation Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Solar Encapsulation Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Solar Encapsulation Market?
3. What is the competitive strategic window for opportunities in the Solar Encapsulation Market?
4. What are the technology trends and regulatory frameworks in the Solar Encapsulation Market?
5. What is the market share of the leading vendors in the Solar Encapsulation Market?
6. What modes and strategic moves are considered suitable for entering the Solar Encapsulation Market?
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