Solar Encapsulation Market Growth, Size, Share, Trends, and Forecast 2032

Solar Encapsulation Market

Solar Encapsulation Market By Technology (thin film solar technology and polycrystalline silicon solar technology), By Material (ethylene vinyl acetate, polydimethylsiloxane, ionomers and polyvinyl butyral), By Application (automotive, construction, electronics and others) And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2024-2032

Category: Energy & Mining Report Format : PDF Report Code: ZMR-1266 Status : Upcoming
Market Size in 2023 Market Forecast in 2032 Growth Rate (in %) Base Year
USD 4.94 Billion USD 10.91 Billion CAGR at 9.20% 2023

Description

According to the report published by Zion Market Research, the global Solar Encapsulation Market size was valued at USD 4.94 Billion in 2023 and is predicted to reach USD 10.91 Billion by the end of 2032. The market is expected to grow with a CAGR of 9.20% during the forecast period. The report analyzes the global Solar Encapsulation Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Solar Encapsulation Market industry.

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Global Solar Encapsulation Market: Overview

Solar encapsulation is used to protect the solar panels and they are used in various equipment. In order to protect solar panel, various solutions are used. Solar encapsulation enhances the efficiency of solar panels and prevents them from external hazards. Good quality of solar panels and other solar equipment are susceptible to adverse environmental and physical threats. The associated risk can be reduced with the help of solar encapsulations. The materials that are selected for solar encapsulation should be flame retardant and corrosion resistant.

This selection of materials depends on the requirements of the consumer. Encapsulation requires significant energy and material resources. The trend of solar encapsulation is growing in multiple industries such as automotive, construction and others. Encapsulation in the solar PV modules ensures safe working and reduces maintenance costs.

Global Solar Encapsulation Market: Growth Factors

Growing acceptance of the solar encapsulation and the increasing awareness towards renewable energy are reinforcing the demand for solar PV modules. Many government agencies are ensuring higher adoption of the solar encapsulation technology which is positively impacting the global solar encapsulation market. Escalating demand for solar PV modules and the rising government initiatives will boost the global market growth. Immense proliferation of technology and the increasing energy requirements contribute to the market growth.

High investments in the R&D by PV module manufacturers encourage the development of newer encapsulants. The emergence of the innovative organic solar technology will enhance the investments in the global market. There is a hike in demand for electricity owing to the rapidly increasing population which in turn will result in a rise in demand for the solar equipment. It is expected that economic solar equipment will be available in the future. Conversely, the high cost of solar equipment may restrain the global solar encapsulation market growth to some extent.

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Global Solar Encapsulation Market: Segmentation

Based on the technology, the global solar encapsulation market is segmented as thin film solar technology and polycrystalline silicon solar technology.

Based on the material used, the global market is classified as ethylene vinyl acetate, polydimethylsiloxane, ionomers and polyvinyl butyral.

On the basis of application, the global solar encapsulation market is segregated as automotive, construction, electronics and others. The construction industry is one of the largest consumers of solar encapsulation market.

Solar Encapsulation Market : Report Scope

Report Attributes Report Details
Report Name Solar Encapsulation Market Research Report
Market Size in 2023 USD 4.94 Billion
Market Forecast in 2032 USD 10.91 Billion
Growth Rate CAGR of 9.20%
Number of Pages 196
Key Companies Covered Hangzhou First PV Material Co. Ltd., Bridgestone, Kuraray Europe GmbH, DuPont, STR Holdings Inc., Dow Corning Corporation and First Solar GmBH
Segments Covered By Technology, By Material, By Application and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Solar Encapsulation Market: Regional Analysis

Asia Pacific is emerging as prominent region due to the adoption of solar encapsulation technologies. Growing energy requirements in this region are fostering the global solar encapsulation market growth. Economically developing countries such as India and China are heavily investing in this technology. Significant adoption of the solar encapsulation can also be seen in the North American region. National governments in the various regions have announced several tax benefits in order to encourage adoption of solar technology which is influencing the global market in a positive way. Moreover, aggressive renewable energy targets and increasing installation of the solar encapsulation boost the growth of the global solar encapsulation market.

 Global Solar Encapsulation Market: Competitive Players

Major key players in the global solar encapsulation market are:

  • Hangzhou First PV Material Co. Ltd.
  • Bridgestone
  • Kuraray Europe GmbH
  • DuPont
  • STR Holdings Inc.
  • Dow Corning Corporation 
  • First Solar GmBH.

The Global Solar Encapsulation Market is segmented as follows:

By Technology 

  • thin film solar technology
  • polycrystalline silicon solar technology 

By Material 

  • ethylene vinyl acetate
  • polydimethylsiloxane
  • ionomers and polyvinyl butyral

By Application 

  • automotive 
  • construction
  • electronics 
  • and others

Global Solar Encapsulation Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Report Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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