Press release
Solar Encapsulation Market Share (CAGR of 8.7%) | APAC Region High Growth by Japan, Singapore, South Korea, Taiwan, Australia
Solar encapsulation refers to the protective layers or materials used to cover and seal photovoltaic (PV) solar cells in solar panels. The encapsulation process is crucial for ensuring the durability, efficiency, and longevity of solar modules.
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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.
Top Industry Players
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 materials are typically transparent and weather-resistant to protect solar cells from environmental factors such as moisture, UV radiation, and temperature fluctuations. Common materials include ethylene-vinyl acetate (EVA) and various types of encapsulant films.
The development of PV storage systems is essential to increase the ability of PV systems to replace the existing conventional sources. With rise in demand for PV installations, the adoption of storage grid is projected to increase, which fuels the demand for solar encapsulation and may act as the major driving factor for the market.
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According to technology, it is fragmented into polycrystalline silicon solar, cadmium telluride, copper indium gallium selenide, and amorphous silicon. As per the application, it is classified into construction, electronics, automotive, and others.
Encapsulation on solar photovoltaic (PV) modules includes insulation and protection, which alters the device performance as a function of wavelength of incoming light.
In addition, PV technology has evolved as the major renewable power resource in the worldwide green energy sector to meet the future challenge of energy needs.
Depending on material, ethylene vinyl acetate segment holds the largest market share in 2020.
As per the technology, the polycrystalline silicon solar segment accounted for the largest market share in 2020.
Advancements in encapsulation film technologies include the development of materials with enhanced adhesion, improved light transmission, and resistance to degradation, contributing to increased solar module efficiency and reliability.
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In addition to encapsulating the front side of solar cells, the backside of solar modules is typically protected by a backsheet. The backsheet is a multi-layered material that provides electrical insulation and protection against moisture and other environmental factors.
By application, the construction segment accounted for the largest market share in 2020.
Region wise, Asia-Pacific accounted for the largest market share in 2020.
COVID-19 impact on the market
The manufacturing of solar encapsulation was halted for a specific period due to high peak of COVID-19 situation, which impacted the sales of 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.
Sales of solar encapsulation is directly proportional to the demand for solar panels. Solar projects has been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in solar encapsulation.
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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 impacted solar encapsulation market.
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