Global Encapsulant Materials for PV Modules Market Research Report 2023(Status and Outlook)

Global Encapsulant Materials for PV Modules Market Research Report 2023(Status and Outlook)

Report Overview

An encapsulant is used to provide adhesion between the solar cells, the top surface and the rear surface of the PV module. The encapsulant should be stable at elevated temperatures and high UV exposure. It should also be optically transparent and should have a low thermal resistance. EVA (ethyl vinyl acetate) is the most commonly used encapsulant material. EVA comes in thin sheets which are inserted between the solar cells and the top surface and the rear surface. This sandwich is then heated to 150 °C to polymerize the EVA and bond the module together.

Encapsulant materials used in photovoltaic (PV) modules serve multiple purposes; it provides optical coupling of PV cells and protection against environmental stress. Polymers must perform these functions under prolonged periods of high temperature, humidity, and UV radiation. When PV panels were first developed in the 1960s and the 1970s, the dominant encapsulants were based on polydimethyl siloxane (PDMS). Ethylene-co-vinyl acetate (EVA) is currently the dominant encapsulant chosen for PV applications, not because it has the best combination of properties, but because it is an economical option with an established history of acceptable durability. Getting new products onto the market is challenging because there is no room for dramatic improvements, and one must balance the initial cost and performance with the unknowns of long-term service life. Recently, there has been renewed interest in using alternative encapsulant materials with some significant manufacturers switching from EVA to polyolefin elastomer-based (POE) alternatives.

Global key players of Encapsulant Materials for PV Modules include First, Sveck, HIUV, Bbetter, Hanwha and Mitsui Chemicals, etc. Top five players occupy for a share about 84%. China is the largest market, with a share about 81%, followed by North America and Japan. In terms of product, EVA Film is the largest segment, with a share over 73%. In terms of application, Monofacial Module is the largest market, with a share over 50%.

The Global Encapsulant Materials for PV Modules Market Size was estimated at USD 2266.2 million in 2022 and is projected to reach USD 5431.35 million by 2029, exhibiting a CAGR of 13.30% during the forecast period.

Bosson Research’s latest report provides a deep insight into the global Encapsulant Materials for PV Modules market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Encapsulant Materials for PV Modules Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Encapsulant Materials for PV Modules market in any manner.

Global Encapsulant Materials for PV Modules Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

First

Sveck

HIUV

Bbetter

Tianyang

STR Solar

Lucent CleanEnergy

Mitsui Chemicals

Vishakha Renewables

RenewSys

Cybrid Technologies

TPI Polene

3M

Hanwha

SSPC

LUSHAN

Market Segmentation (by Type)

EVA Film

POE Film

Other

Market Segmentation (by Application)

Video Distribution

Radio Frequency Transfer

Internet Data Transfer

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Encapsulant Materials for PV Modules Market

Overview of the regional outlook of the Encapsulant Materials for PV Modules Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

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