PUBLISHER: IMARC | PRODUCT CODE: 1298655
PUBLISHER: IMARC | PRODUCT CODE: 1298655
Solar Encapsulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global solar encapsulation market size reached US$ 2,371 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,514 Million by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.
Solar encapsulation refers to the technique used to protect solar panels and equipment against degradation due to various external and environmental factors. It involves encapsulating photovoltaic (PV) cells with a polymeric material, generally ethylene vinyl acetate (EVA) film. It helps extend the life of solar cells, mitigate stability issues, and offer protection against corrosion and ultraviolet (UV) radiation, low mechanical stress, and temperature changes. It also assists in providing adhesion between the solar cells, the top surface, and the rear surface of the PV module. In recent years, solar encapsulation has gained immense popularity as it aids in enhancing the performance, efficiency, durability, and cost-effectiveness of PV modules.
Solar Encapsulation Market Trends:
The widespread adoption of solar panels and the escalating demand for electricity across the globe represent the primary factors driving the market growth. Additionally, there has been a substantial shift toward renewable energy sources due to the growing environmental concerns and depleting conventional energy sources. Along with this, the increasing private and public investments to modernize the existing infrastructure are catalyzing the market growth. Besides this, the development of low-cost encapsulant materials, such as cadmium telluride and amorphous silicon cells, and non-EVA-based encapsulations, including thermoplastic polyurethane (TPU) and polyvinyl butyral (PVB), are augmenting the product demand. Moreover, the implementation of favorable policies and subsidies on the installation of solar panels by governments of various countries is propelling the market growth. As a result, the leading manufacturers are developing new encapsulants for emerging PV technologies. Other factors, including the growing need to reduce carbon footprint, rapid urbanization, technological advancements, and emerging solar energy applications for power generation, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global solar encapsulation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material, technology and application.
Breakup by Material:
Ethylene Vinyl Acetate
Non-Ethylene Vinyl Acetate
UV Curable Resins
Breakup by Technology:
Single-crystal/Polycrystalline Silicon Solar Technology
Thin-film Solar Technology
Cadmium Telluride (CdTe)
Copper Indium Gallium Selenide (CIGS)
Amorphous Silicon (a-Si)
Breakup by Application:
Construction
Electronics
Automotive
Others
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Bridgestone Corporation, dnpSolar, Dow Inc., Dupont De Nemours Inc., Eastman Chemical Company, First Solar Inc., Kuraray Co. Ltd., Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals Inc., RenewSys India Pvt. Ltd. and STR Holdings Inc.
Key Questions Answered in This Report
1. What was the size of the global solar encapsulation market in 2022?
2. What is the expected growth rate of the global solar encapsulation market during 2023-2028?
3. What are the key factors driving the global solar encapsulation market?
4. What has been the impact of COVID-19 on the global solar encapsulation market?
5. What is the breakup of the global solar encapsulation market based on the material?
6. What is the breakup of the global solar encapsulation market based on the technology?
7. What are the key regions in the global solar encapsulation market?
8. Who are the key players/companies in the global solar encapsulation 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 Solar Encapsulation Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Material
- 6.1 Ethylene Vinyl Acetate
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Non-Ethylene Vinyl Acetate
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 UV Curable Resins
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Technology
- 7.1 Single-crystal/Polycrystalline Silicon Solar Technology
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Thin-film Solar Technology
- 7.2.1 Market Trends
- 7.2.2 Key Segments
- 7.2.2.1 Cadmium Telluride (CdTe)
- 7.2.2.2 Copper Indium Gallium Selenide (CIGS)
- 7.2.2.3 Amorphous Silicon (a-Si)
- 7.2.3 Market Forecast
8 Market Breakup by Application
- 8.1 Construction
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Electronics
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Automotive
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 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 3M Company
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Bridgestone Corporation
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 dnpSolar
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Dow Inc.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Dupont De Nemours 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 Eastman Chemical Company
- 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 First Solar Inc.
- 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 Kuraray Co. Ltd.
- 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 Mitsubishi Chemical Holdings Corporation
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Mitsui Chemicals Inc.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 RenewSys India Pvt. Ltd.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 STR Holdings Inc.
- 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 3M Company
List of Figures
- Figure 1: Global: Solar Encapsulation Market: Major Drivers and Challenges
- Figure 2: Global: Solar Encapsulation Market: Sales Value (in Million US$), 2017-2022
- Figure 3: Global: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 4: Global: Solar Encapsulation Market: Breakup by Material (in %), 2022
- Figure 5: Global: Solar Encapsulation Market: Breakup by Technology (in %), 2022
- Figure 6: Global: Solar Encapsulation Market: Breakup by Application (in %), 2022
- Figure 7: Global: Solar Encapsulation Market: Breakup by Region (in %), 2022
- Figure 8: Global: Solar Encapsulation (Ethylene Vinyl Acetate) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Solar Encapsulation (Ethylene Vinyl Acetate) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Solar Encapsulation (Non-Ethylene Vinyl Acetate) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Solar Encapsulation (Non-Ethylene Vinyl Acetate) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Solar Encapsulation (UV Curable Resins) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Solar Encapsulation (UV Curable Resins) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Solar Encapsulation (Single-crystal/Polycrystalline Silicon Solar Technology) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Solar Encapsulation (Single-crystal/Polycrystalline Silicon Solar Technology) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Solar Encapsulation (Thin-film Solar Technology) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Solar Encapsulation (Thin-film Solar Technology) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Solar Encapsulation (Construction) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Solar Encapsulation (Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Solar Encapsulation (Electronics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Solar Encapsulation (Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Solar Encapsulation (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Solar Encapsulation (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Solar Encapsulation (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Solar Encapsulation (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: North America: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: North America: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: United States: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: United States: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Canada: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Canada: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Asia-Pacific: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Asia-Pacific: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: China: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: China: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Japan: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Japan: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: India: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: India: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: South Korea: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: South Korea: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Australia: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Australia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Indonesia: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Indonesia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Europe: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Europe: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Germany: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Germany: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: France: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: France: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: United Kingdom: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: United Kingdom: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Italy: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Italy: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Spain: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Spain: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Russia: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Russia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Latin America: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Latin America: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Brazil: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Brazil: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Mexico: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Mexico: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Middle East and Africa: Solar Encapsulation Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Middle East and Africa: Solar Encapsulation Market: Breakup by Country (in %), 2022
- Figure 74: Middle East and Africa: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Global: Solar Encapsulation Industry: SWOT Analysis
- Figure 76: Global: Solar Encapsulation Industry: Value Chain Analysis
- Figure 77: Global: Solar Encapsulation Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Solar Encapsulation Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Solar Encapsulation Market Forecast: Breakup by Material (in Million US$), 2023-2028
- Table 3: Global: Solar Encapsulation Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 4: Global: Solar Encapsulation Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 5: Global: Solar Encapsulation Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Solar Encapsulation Market: Competitive Structure
- Table 7: Global: Solar Encapsulation Market: Key Players
