Solar PV Backsheet Market: Current Analysis and Forecast (2022-2028)

A solar PV backsheet is a protective layer in a photovoltaic (PV) module that covers the back side of the solar cells and protects the module's electrical components. The backsheet is typically made of a weather-resistant material such as polyvinyl fluoride (PVF) or ethylene vinyl acetate (EVA) and is designed to prevent moisture, dust, and other environmental elements from entering the module and causing damage. It also provides mechanical support to the module and improves the module's overall durability and reliability. In recent times, Solar PV backsheet has witnessed significant demand around the world attributed to the growing demand for energy and power coupled with the increasing investment in the renewable energy sectors.

The Solar PV Backsheet Market is expected to grow at a steady rate of around 19% owing to the increasing demand for green energy-based electricity coupled with the increasing investment and technological advancement in the renewable energy sector. Major companies in the market are focusing to provide solar PV backsheet with technologically advanced features along with new product launches, collaboration, and mergers & acquisitions. For instance, in June 2020, Nexans Solar Technologies inked an agreement with Reden company for the manufacturing and installation of the 800-unit solar tracker in France.

Based on the type, the market is bifurcated into the fluoropolymer and non-fluoropolymer segments. The fluoropolymer segments are expected to witness significant market growth during the forecast period owing to the ability to prevent atmospheric exposure such as rain, cold, etc., and mitigate the electric shock caused by any reason. Also, fluoropolymers are inert in nature and have low surface energy, and could be used as the adhesive to the junction box.

Based on the installation, the market is segmented into floating power plant, pitched roof solar, ground mount solar, and others. The floating power plant segment is expected to register a significant CAGR during the forecast period. A floating solar power plant is a solar power generating system installed on a floating platform on a body of water, such as a lake or pond. The floating design allows for the utilization of otherwise unused space, as well as providing cooling benefits for the solar panels. It can also offer advantages for water evaporation prevention and reduction of water algal growth.

Based on the application, the market is segmented into commercial, industrial, utility, and residential segments. The utility segment is expected to witness significant growth during the forecast period owing to the increasing demand for energy and power around the world. Also, the increasing number of utility-scale projects and micro-grid projects across the countries will propel the demand for the solar PV backsheet market in the coming time. Also, solar PV backsheet is the material that provides insulation and protection to the back of a photovoltaic panel in utility-scale applications and prevents it from moisture, heat, and other environmental elements.

For a better understanding of the market adoption of the solar PV backsheet industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing demand for energy and the increasing adoption of renewable energy in the region. Also, the stringent government regulation for carbon emission and focus to replace the aging power infrastructure with the smart grid and smart technologies is expected to propel the market growth during the forecast period. Furthermore, the launch of the new renewable project and growing digitalization in the grid technology will support the market growth. For instance, according to the power technology, there are several solar power projects have been launched in the Asia-Pacific including Golmud Solae CSP Power Plant in China and Mudigubba Solar Park in India. Additionally, the increasing investment in green energy projects and increasing research & development activities are expected to propel the market growth. For instance, AGL Energy, Australia has been developing a virtual power plant model since 2021 with solar batteries across different residential and commercial buildings.

Some of the major players operating in the market include: DuPont, Agfa-Gevaert NV, HANGZHOU FIRST APPLIED MATERIAL CO.LTD., DUNMORE, Mitsubishi Polyester Film Inc., TORAY INDUSTRIES, INC., Coveme, Isovoltaic, Canadian Solar, and Jolywood.