PUBLISHER: IMARC | PRODUCT CODE: 1308134
PUBLISHER: IMARC | PRODUCT CODE: 1308134
Photovoltaic Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global photovoltaic materials market size reached US$ 30.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.8 Billion by 2028, exhibiting a growth rate (CAGR) of 10.76% during 2023-2028.
Photovoltaic materials are semiconducting materials that can absorb solar energy and convert it into electricity. They comprise monocrystalline, polycrystalline or amorphous silicon, gallium arsenide, metal chalcogenides, and organometallics. They help in the production of low-cost, mechanically flexible, and large-area photovoltaic devices to allow relevant access to sustainable and clean energy. As a result, they find extensive applications in residential, non-residential, and utility sectors. At present, there is a rise in the installation of solar photovoltaics due to their accessibility, capacity, and efficiency, which is catalyzing the demand for photovoltaic materials worldwide.
Photovoltaic Materials Market Trends:
The growing manufacturing of solar cell modules to supply power to residential and non-residential areas represents one of the key factors driving the market. Moreover, the rising awareness among individuals about the benefits of solar energy, along with increasing concerns about greenhouse gas emissions, are propelling the growth of the market. In addition, declining costs of photovoltaic materials, coupled with the limited availability of fossil fuels across the globe, is positively influencing the market. Besides this, there is a rise in the demand for organic photovoltaics to provide earth-abundant and low-energy-production photovoltaic (PV) solutions. In line with this, the increasing utilization of dye-sensitized solar cells (DSSC), which enable the user to convert both artificial and natural light into energy and power various electronic devices, is bolstering the market growth. Apart from this, governments of several countries are undertaking initiatives to increase the usage of renewable energy. In addition, they are working towards the formulation and implementation of policies that support photovoltaic projects with grid connection convenience. Additionally, the rising employment of thin film-based solar technology due to its lightweight and cost-efficiency compared to traditional solar technology is strengthening the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global photovoltaic materials market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, material and application.
Breakup by Type:
Polycrystalline Silicon
Monocrystalline Silicon
Cadmium Telluride
Copper Indium Gallium Selenide (CIGS)
Others
Breakup by Material:
Front Sheet
Encapsulant
Back Sheet
Others
Breakup by Application:
Utility
Residential
Non-residential
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Key Questions Answered in This Report
1. What was the size of the global photovoltaic materials market in 2022?
2. What is the expected growth rate of the global photovoltaic materials market during 2023-2028?
3. What are the key factors driving the global photovoltaic materials market?
4. What has been the impact of COVID-19 on the global photovoltaic materials market?
5. What is the breakup of the global photovoltaic materials market based on the type?
6. What is the breakup of the global photovoltaic materials market based on the material?
7. What is the breakup of the global photovoltaic materials market based on application?
8. What are the key regions in the global photovoltaic materials market?
9. Who are the key players/companies in the global photovoltaic materials market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Photovoltaic Materials Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Polycrystalline Silicon
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Monocrystalline Silicon
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Cadmium Telluride
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Copper Indium Gallium Selenide (CIGS)
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Others
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
7 Market Breakup by Material
- 7.1 Front Sheet
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Encapsulant
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Back Sheet
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Application
- 8.1 Utility
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Residential
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Non-residential
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 American Elements
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 COVEME s.p.a.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 DuPont de Nemours Inc.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Ferrotec Holdings Corporation
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.5 Honeywell International Inc.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 KYOCERA Corporation
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Merck KGaA
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Mitsubishi Materials Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Novaled GmbH (Samsung SDI Co. Ltd.)
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Targray
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Tata Power Solar Systems Limited (Tata Power Company Limited)
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Wacker Chemie AG
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.12.4 SWOT Analysis
- 14.3.1 American Elements
List of Figures
- Figure 1: Global: Photovoltaic Materials Market: Major Drivers and Challenges
- Figure 2: Global: Photovoltaic Materials Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Photovoltaic Materials Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Photovoltaic Materials Market: Breakup by Type (in %), 2022
- Figure 5: Global: Photovoltaic Materials Market: Breakup by Material (in %), 2022
- Figure 6: Global: Photovoltaic Materials Market: Breakup by Application (in %), 2022
- Figure 7: Global: Photovoltaic Materials Market: Breakup by Region (in %), 2022
- Figure 8: Global: Photovoltaic Materials (Polycrystalline Silicon) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Photovoltaic Materials (Polycrystalline Silicon) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Photovoltaic Materials (Monocrystalline Silicon) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Photovoltaic Materials (Monocrystalline Silicon) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Photovoltaic Materials (Cadmium Telluride) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Photovoltaic Materials (Cadmium Telluride) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Photovoltaic Materials (Copper Indium Gallium Selenide (CIGS)) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Photovoltaic Materials (Copper Indium Gallium Selenide (CIGS)) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Photovoltaic Materials (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Photovoltaic Materials (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Photovoltaic Materials (Front Sheet) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Photovoltaic Materials (Front Sheet) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Photovoltaic Materials (Encapsulant) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Photovoltaic Materials (Encapsulant) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Photovoltaic Materials (Back Sheet) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Photovoltaic Materials (Back Sheet) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Photovoltaic Materials (Other Materials) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Photovoltaic Materials (Other Materials) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Photovoltaic Materials (Utility) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Photovoltaic Materials (Utility) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Photovoltaic Materials (Residential) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Photovoltaic Materials (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: Photovoltaic Materials (Non-residential) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: Photovoltaic Materials (Non-residential) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: North America: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: North America: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: United States: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: United States: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Canada: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Canada: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Asia-Pacific: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Asia-Pacific: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: China: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: China: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Japan: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Japan: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: India: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: India: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: South Korea: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: South Korea: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Australia: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Australia: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Indonesia: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Indonesia: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Others: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Others: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Europe: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Europe: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Germany: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Germany: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: France: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: France: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: United Kingdom: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: United Kingdom: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Italy: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Italy: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Spain: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Spain: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Russia: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Russia: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Others: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Others: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Latin America: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Latin America: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Brazil: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Brazil: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Mexico: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Mexico: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Others: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Others: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Middle East and Africa: Photovoltaic Materials Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Middle East and Africa: Photovoltaic Materials Market: Breakup by Country (in %), 2022
- Figure 80: Middle East and Africa: Photovoltaic Materials Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Global: Photovoltaic Materials Industry: SWOT Analysis
- Figure 82: Global: Photovoltaic Materials Industry: Value Chain Analysis
- Figure 83: Global: Photovoltaic Materials Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Photovoltaic Materials Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Photovoltaic Materials Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 3: Global: Photovoltaic Materials Market Forecast: Breakup by Material (in Million US$), 2023-2028
- Table 4: Global: Photovoltaic Materials Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 5: Global: Photovoltaic Materials Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Photovoltaic Materials Market: Competitive Structure
- Table 7: Global: Photovoltaic Materials Market: Key Players
