Pune, March 4, 2021 (GLOBE NEWSWIRE) – Market analysis
The market for solar encapsulation is expected to grow by 10.28% CAGR in the forecast period (2020-2026), as the latest market research report (Market Research Future, MRFR) shows. Simply put, solar capsules are materials used in PV (photovoltaic) solar modules to provide protection and excellent durability against delamination and corrosion. Because of its seductive properties and benefits, solar encapsulation is widely used in various end-use industries such as construction, electronics, automotive, and others. It is made of various materials such as polyvinyl butyral, ionomers, polydimethylsiloxane, ethylene vinyl acetate and others.
Fascinating features that drive market growth
According to the MRFR report, there are numerous factors driving solar encapsulation market share. Some of these are the global demand for electricity, the cost reduction potential of solar PV, the development of PV technologies, the demand for solar energy, the demand for PV systems on the roof, and the excellent chemical and mechanical properties such as thermal resistance and durability. Additional factors driving market growth include the growing demand for solar encapsulation material in various applications such as utility sectors, residential and non-residential real estate, the increase in state tariffs, the increase in market support programs, the exhaustion of conventional sources, growing environmental concerns and the increase in production costs and costs growing investments in the modernization of the infrastructure.
On the contrary, the increasing cost of solar modules and solar systems, the yellowing of EVA copolymer encapsulants used in PV modules causing loss of performance, and weather-related EVA films resulting in a decrease in UV absorption are factors that may affect the world Solar Encapsulation Market growth over the forecast period.
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COVID-19 analysis
The ongoing COVID-19 pandemic had a significant impact on the global solar encapsulation market as development and construction slowed after the unprecedented shutdowns in the first quarter of 2020. Besides, the shortage of modules, cells and other ancillary products has also impacted the market growth. The labor restrictions imposed by China in the provinces set by COVID-19, most of which are also hubs for solar panel manufacturers, have impacted the solar industry. In addition, developers are faced with a raw material shortage that affected the facilities in the first quarter of 2020. After the lockdowns and social distancing trends are eased, the market is likely to return to normal soon.
Market segmentation
The Market Research Future report offers a comprehensive analysis of the Solar Encapsulation market on the basis of end use, material, and technology.
The global solar encapsulation market is technologically divided into polycrystalline silicon and thin-film solar technology. Of these, the polycrystalline segment will be the market leader in the forecast period, as these solar cells are widespread and also deliver efficiencies in the range of 15 to 25%.
By material, the global Solar Encapsulation Market is segmented into Polyvinyl Butyral, Ionomers, Polydimethylsiloxane, Ethylene Vinyl Acetate, and others. Of these, the market for ethylene vinyl acetate will dominate the market in the forecast period due to its low degradability in relation to sunlight and its good radiation transmission.
By end use, the global solar encapsulation market is segmented into construction, electronics, automotive and other sectors. The construction segment will lead the market in the forecast period.
Browse the detailed market research report (111 pages) Solar Encapsulation Market:
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Regional analysis
Europe leads the solar encapsulation market
Geographically, the global solar encapsulation market is divided into Europe, the Asia-Pacific region (APAC), North America, South America and the Middle East and Africa (MEA). Of these, Europe will take over the market leadership in the forecast period. The rapid development, increasing research and development investments in solar energy, long-term contracts for renewable energy producers, government policies and increasing use of solar energy for agriculture, construction and power generation contribute to the global growth of the solar encapsulation market in the US region.
APAC is set to grow healthily in the solar encapsulation market
In the APAC region, the global solar encapsulation market is projected to grow healthy during the forecast period. Increase in the production capacity of solar modules at major manufacturers in China and India, significant increase in solar technology production in China and India, government subsidies, increased acquisitions and mergers of local manufacturers, increased production of low-cost ethylene vinyl acetate films and applications in solar modules in China, the rising Demand for renewable energies and the growing awareness of the various benefits of PV technology in the countries of the region are contributing to the global growth of the solar encapsulation market in the region.
North America is seeing remarkable growth in the solar encapsulation market
In North America, significant growth is forecast for the global solar encapsulation market in the forecast period. Significant introduction of solar encapsulation National governments have announced various tax breaks to encourage the introduction of solar technology. Aggressive renewable energy targets and the increasing installation of solar encapsulation are contributing to the global growth of the solar encapsulation market in the region. Additional factors driving market growth include increasing regulations for conventional energy sources in developed countries, demand for environmentally friendly renewable energy technologies, and increased installation of PVs on rooftops of residential and commercial buildings.
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MEA is expected to see solid growth in the solar encapsulation market
The global solar encapsulation market in the MEA is projected to have solid growth for the increased use of solar energy for architecture, agriculture, and power generation over the forecast period, which is likely to increase the need for solar encapsulation.
South America will see significant growth in the solar encapsulation market
In South America, significant growth is forecast for the solar encapsulation market in the forecast period.
Competitive landscape
Prominent players featured in Solar Encapsulation Market report include Hangzhou First Pv Material Co. Ltd., Specialized Technology Resources Inc., Sanvic Inc., Solutia Inc., EI Dupont De Nemours & Co., Renewsys, Kuraray Europe Gmbh , Dow Corning Corporation, Cambiosolar, Evasa, Mitsubishi Plastics Inc and First Solar Gmbh among others. M&A, partnerships, geographic expansions, product launches, and others are the key players' key strategies to stay on top.
Industry updates
- March 2021 – An international research group has developed a perovskite solar cell that has strong thermal stability and improved electron injection with special nanotubes made of cesium titanium dioxide.
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