Global Solar Encapsulation Market Size, Share & Industry Trends Analysis Report By Material (Ethylene Vinyl Acetate, Non-ethylene Vinyl Acetate, UV Curable Resin, and Others), By Technology, By Application, By Regional Outlook and Forecast, 2022 – 2028

Global Solar Encapsulation Market Size, Share & Industry Trends Analysis Report By Material (Ethylene Vinyl Acetate, Non-ethylene Vinyl Acetate, UV Curable Resin, and Others), By Technology, By Application, By Regional Outlook and Forecast, 2022 – 2028

The Global Solar Encapsulation Market size is expected to reach $4.4 billion by 2028, rising at a market growth of 8.4% CAGR during the forecast period.

The process of shielding pricey solar equipment and panels from hazards both physical and environmental is known as solar encapsulation. This increases their effectiveness while reducing costs. The market share of the solar encapsulation process has been sparked by this characteristic.

Barrier films and adhesives are layered in multiple layers on the back sheets of solar modules. By lowering the cost of partial modules, the back-sheet construction helps to increase solar module efficiency by shielding the solar cells from various environmental factors like UV exposure, moisture, and other performance threats. The solar cell is shielded by the encapsulation film, which also guarantees its dependability and performance. By keeping the moisture out, it serves to provide optical and electrical transmissivity. The manufacturing of modules can benefit from increased efficiencies due to encapsulants. A crucial stage in the creation of solar cells is encapsulation. Even the best solar cells cannot create good solar modules without a good encapsulation process.

Urbanization increased demand for solar panels, which in turn raised encapsulation demand, which may be the main factor driving the market. Additionally, the market for solar encapsulation has a lot of growth potential due to the increase in demand for solar lights for street and road dividers.

These factors include the significant increase in demand for solar lights for road dividers and streets, amazing benefits of solar cell encapsulation such as increased attack strength, increased longevity of solar cells, and improved efficiencies of encapsulants in module manufacturing processes. The growing acceptance of solar as a reliable and limitless source of energy and a rise in public awareness of renewable energy sources are also expected to benefit solar encapsulation.

COVID-19 Impact Analysis

Due to the COVID-19 situation's high peak, solar encapsulation production was put on hold for a set period of time, which had a significant negative impact on sales. Demand for solar panels is inversely correlated with sales of solar encapsulation. The COVID-19 outbreak-induced lockdown had a negative effect on solar projects, which saw a sharp drop in solar encapsulation. Nearly all industries were impacted by COVID-19 because it interfered with various industrial processes and the supply chain. Most businesses stopped operating because of a lack of workers.

Market Growth Factors

Rooftop Photovoltaic (PV) Installation Demand is increasing

The growing market for solar encapsulation is being driven by the expanding demand for rooftop photovoltaic (PV) installation in developing nations. A PV system is an electric power system that uses photovoltaics (PV) to produce using solar power. It consists of a combination of parts, including solar panels that take in and transform sunlight into electricity. There has been a significant shift toward renewable energy sources, such as solar energy, and the construction of PV systems, particularly rooftop PV installations, as a result of growing environmental concerns and the depletion of conventional energy sources.

Wide Adoption of Solar Panels

Many industries are embracing solar energy as a sustainable source of energy. This has mostly been made possible by solar panel manufacturers who invest a lot of money into cleverly making solar panels and related components instead of depending on their competitors. In the future, solar energy will be used more widely, not just in the residential and commercial sectors but also in households. Access to solar energy resources is growing and is probably going to get better.

Market Restraining Factors

High Cost of Installation

The high initial cost of purchasing and installation is one of the drawbacks of solar electricity. The price of installing solar panels varies depending on the installation type, accessories, and solar panels. In the event of substantial installations, it might even go beyond this. Although it saves money over time by lowering electricity costs and lowering carbon footprints the initial cost for solar panels is high. Therefore, many of the users run out of budget while installing. Solar panels, wiring, and batteries are all part of this and add up to the cost.

Material Outlook

Based on Material, the solar encapsulation market is segmented into Ethylene Vinyl Acetate, Non-ethylene Vinyl Acetate, UV Curable Resin, and others. The UV curable resin segment acquired a significant revenue share in the solar encapsulation market in 2021. To create a single unit that can function independently as a power source, solar cells are linked together in parallel or series. It is required to connect them in series or parallel in order to access the power supply because a single solar cell's output power is insufficient to meet the need for conventional power.

Technology Outlook

On the basis of technology, the solar encapsulation market is fragmented into polycrystalline silicon solar, cadmium telluride, copper indium gallium selenide, and amorphous silicon. The polycrystalline silicon solar segment held the highest revenue share in the solar encapsulation market in 2021. These solar cells are popular and provide efficiencies between 15 and 25 percent. In polycrystalline solar panels, solar cells with a metal flakes appearance were produced from polycrystalline wafers cut from blocks of molten silicon, comprised of melted silicon fragments.

Application Outlook

By application, the solar encapsulation market is divided into constructions, electronics, automotive and others. The electronic segment generated a significant revenue share in the solar encapsulation market in 2021. Electrical components are shielded from the environment using a process called electronic encapsulation. This can be accomplished by substances like epoxy, silicone, or potting compound. Electronic encapsulation is the process of covering an electronic assembly in a substance to protect it from shock, vibration, and corrosion.

Regional Outlook

Region wise, the solar encapsulation market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific region led the solar encapsulation market with the largest revenue share. Large consumer base, industrialization, and urbanization are considerations. The rapid adoption of electrical products and rising industry has increased energy demand.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Dupont De Nemours, Inc., First Solar, Inc., Dai Nippon Printing Co., Ltd. (dnpSolar), Dow, Inc., Hangzhou First PV Material Co. Ltd., Kuraray Co., Ltd.

Scope of the Study

Market Segments covered in the Report:

By Material

  • Ethylene Vinyl Acetate
  • Non-ethylene Vinyl Acetate
  • UV Curable Resin
  • Others
By Technology
  • Polycrystalline Silicon Solar
  • Cadmium Telluride
  • Copper Indium Gallium Selenide
  • Amorphous Silicon
By Application
  • Construction
  • Electronics
  • Automotive
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • 3M Company
  • Dupont De Nemours, Inc.
  • First Solar, Inc.
  • Dai Nippon Printing Co., Ltd. (dnpSolar)
  • Dow, Inc.
  • Hangzhou First PV Material Co. Ltd.
  • Kuraray Co., Ltd.
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Solar Encapsulation Market, by Material
1.4.2 Global Solar Encapsulation Market, by Technology
1.4.3 Global Solar Encapsulation Market, by Application
1.4.4 Global Solar Encapsulation Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Solar Encapsulation Market by Material
3.1 Global Ethylene Vinyl Acetate Market by Region
3.2 Global Non-ethylene Vinyl Acetate Market by Region
3.3 Global UV Curable Resin Market by Region
3.4 Global Others Market by Region
Chapter 4. Global Solar Encapsulation Market by Technology
4.1 Global Polycrystalline Silicon Solar Market by Region
4.2 Global Cadmium Telluride Market by Region
4.3 Global Copper Indium Gallium Selenide Market by Region
4.4 Global Amorphous Silicon Market by Region
Chapter 5. Global Solar Encapsulation Market by Application
5.1 Global Construction Market by Region
5.2 Global Electronics Market by Region
5.3 Global Automotive Market by Region
5.4 Global Others Market by Region
Chapter 6. Global Solar Encapsulation Market by Region
6.1 North America Solar Encapsulation Market
6.1.1 North America Solar Encapsulation Market by Material
6.1.1.1 North America Ethylene Vinyl Acetate Market by Country
6.1.1.2 North America Non-ethylene Vinyl Acetate Market by Country
6.1.1.3 North America UV Curable Resin Market by Country
6.1.1.4 North America Others Market by Country
6.1.2 North America Solar Encapsulation Market by Technology
6.1.2.1 North America Polycrystalline Silicon Solar Market by Country
6.1.2.2 North America Cadmium Telluride Market by Country
6.1.2.3 North America Copper Indium Gallium Selenide Market by Country
6.1.2.4 North America Amorphous Silicon Market by Country
6.1.3 North America Solar Encapsulation Market by Application
6.1.3.1 North America Construction Market by Country
6.1.3.2 North America Electronics Market by Country
6.1.3.3 North America Automotive Market by Country
6.1.3.4 North America Others Market by Country
6.1.4 North America Solar Encapsulation Market by Country
6.1.4.1 US Solar Encapsulation Market
6.1.4.1.1 US Solar Encapsulation Market by Material
6.1.4.1.2 US Solar Encapsulation Market by Technology
6.1.4.1.3 US Solar Encapsulation Market by Application
6.1.4.2 Canada Solar Encapsulation Market
6.1.4.2.1 Canada Solar Encapsulation Market by Material
6.1.4.2.2 Canada Solar Encapsulation Market by Technology
6.1.4.2.3 Canada Solar Encapsulation Market by Application
6.1.4.3 Mexico Solar Encapsulation Market
6.1.4.3.1 Mexico Solar Encapsulation Market by Material
6.1.4.3.2 Mexico Solar Encapsulation Market by Technology
6.1.4.3.3 Mexico Solar Encapsulation Market by Application
6.1.4.4 Rest of North America Solar Encapsulation Market
6.1.4.4.1 Rest of North America Solar Encapsulation Market by Material
6.1.4.4.2 Rest of North America Solar Encapsulation Market by Technology
6.1.4.4.3 Rest of North America Solar Encapsulation Market by Application
6.2 Europe Solar Encapsulation Market
6.2.1 Europe Solar Encapsulation Market by Material
6.2.1.1 Europe Ethylene Vinyl Acetate Market by Country
6.2.1.2 Europe Non-ethylene Vinyl Acetate Market by Country
6.2.1.3 Europe UV Curable Resin Market by Country
6.2.1.4 Europe Others Market by Country
6.2.2 Europe Solar Encapsulation Market by Technology
6.2.2.1 Europe Polycrystalline Silicon Solar Market by Country
6.2.2.2 Europe Cadmium Telluride Market by Country
6.2.2.3 Europe Copper Indium Gallium Selenide Market by Country
6.2.2.4 Europe Amorphous Silicon Market by Country
6.2.3 Europe Solar Encapsulation Market by Application
6.2.3.1 Europe Construction Market by Country
6.2.3.2 Europe Electronics Market by Country
6.2.3.3 Europe Automotive Market by Country
6.2.3.4 Europe Others Market by Country
6.2.4 Europe Solar Encapsulation Market by Country
6.2.4.1 Germany Solar Encapsulation Market
6.2.4.1.1 Germany Solar Encapsulation Market by Material
6.2.4.1.2 Germany Solar Encapsulation Market by Technology
6.2.4.1.3 Germany Solar Encapsulation Market by Application
6.2.4.2 UK Solar Encapsulation Market
6.2.4.2.1 UK Solar Encapsulation Market by Material
6.2.4.2.2 UK Solar Encapsulation Market by Technology
6.2.4.2.3 UK Solar Encapsulation Market by Application
6.2.4.3 France Solar Encapsulation Market
6.2.4.3.1 France Solar Encapsulation Market by Material
6.2.4.3.2 France Solar Encapsulation Market by Technology
6.2.4.3.3 France Solar Encapsulation Market by Application
6.2.4.4 Russia Solar Encapsulation Market
6.2.4.4.1 Russia Solar Encapsulation Market by Material
6.2.4.4.2 Russia Solar Encapsulation Market by Technology
6.2.4.4.3 Russia Solar Encapsulation Market by Application
6.2.4.5 Spain Solar Encapsulation Market
6.2.4.5.1 Spain Solar Encapsulation Market by Material
6.2.4.5.2 Spain Solar Encapsulation Market by Technology
6.2.4.5.3 Spain Solar Encapsulation Market by Application
6.2.4.6 Italy Solar Encapsulation Market
6.2.4.6.1 Italy Solar Encapsulation Market by Material
6.2.4.6.2 Italy Solar Encapsulation Market by Technology
6.2.4.6.3 Italy Solar Encapsulation Market by Application
6.2.4.7 Rest of Europe Solar Encapsulation Market
6.2.4.7.1 Rest of Europe Solar Encapsulation Market by Material
6.2.4.7.2 Rest of Europe Solar Encapsulation Market by Technology
6.2.4.7.3 Rest of Europe Solar Encapsulation Market by Application
6.3 Asia Pacific Solar Encapsulation Market
6.3.1 Asia Pacific Solar Encapsulation Market by Material
6.3.1.1 Asia Pacific Ethylene Vinyl Acetate Market by Country
6.3.1.2 Asia Pacific Non-ethylene Vinyl Acetate Market by Country
6.3.1.3 Asia Pacific UV Curable Resin Market by Country
6.3.1.4 Asia Pacific Others Market by Country
6.3.2 Asia Pacific Solar Encapsulation Market by Technology
6.3.2.1 Asia Pacific Polycrystalline Silicon Solar Market by Country
6.3.2.2 Asia Pacific Cadmium Telluride Market by Country
6.3.2.3 Asia Pacific Copper Indium Gallium Selenide Market by Country
6.3.2.4 Asia Pacific Amorphous Silicon Market by Country
6.3.3 Asia Pacific Solar Encapsulation Market by Application
6.3.3.1 Asia Pacific Construction Market by Country
6.3.3.2 Asia Pacific Electronics Market by Country
6.3.3.3 Asia Pacific Automotive Market by Country
6.3.3.4 Asia Pacific Others Market by Country
6.3.4 Asia Pacific Solar Encapsulation Market by Country
6.3.4.1 China Solar Encapsulation Market
6.3.4.1.1 China Solar Encapsulation Market by Material
6.3.4.1.2 China Solar Encapsulation Market by Technology
6.3.4.1.3 China Solar Encapsulation Market by Application
6.3.4.2 Japan Solar Encapsulation Market
6.3.4.2.1 Japan Solar Encapsulation Market by Material
6.3.4.2.2 Japan Solar Encapsulation Market by Technology
6.3.4.2.3 Japan Solar Encapsulation Market by Application
6.3.4.3 India Solar Encapsulation Market
6.3.4.3.1 India Solar Encapsulation Market by Material
6.3.4.3.2 India Solar Encapsulation Market by Technology
6.3.4.3.3 India Solar Encapsulation Market by Application
6.3.4.4 South Korea Solar Encapsulation Market
6.3.4.4.1 South Korea Solar Encapsulation Market by Material
6.3.4.4.2 South Korea Solar Encapsulation Market by Technology
6.3.4.4.3 South Korea Solar Encapsulation Market by Application
6.3.4.5 Singapore Solar Encapsulation Market
6.3.4.5.1 Singapore Solar Encapsulation Market by Material
6.3.4.5.2 Singapore Solar Encapsulation Market by Technology
6.3.4.5.3 Singapore Solar Encapsulation Market by Application
6.3.4.6 Malaysia Solar Encapsulation Market
6.3.4.6.1 Malaysia Solar Encapsulation Market by Material
6.3.4.6.2 Malaysia Solar Encapsulation Market by Technology
6.3.4.6.3 Malaysia Solar Encapsulation Market by Application
6.3.4.7 Rest of Asia Pacific Solar Encapsulation Market
6.3.4.7.1 Rest of Asia Pacific Solar Encapsulation Market by Material
6.3.4.7.2 Rest of Asia Pacific Solar Encapsulation Market by Technology
6.3.4.7.3 Rest of Asia Pacific Solar Encapsulation Market by Application
6.4 LAMEA Solar Encapsulation Market
6.4.1 LAMEA Solar Encapsulation Market by Material
6.4.1.1 LAMEA Ethylene Vinyl Acetate Market by Country
6.4.1.2 LAMEA Non-ethylene Vinyl Acetate Market by Country
6.4.1.3 LAMEA UV Curable Resin Market by Country
6.4.1.4 LAMEA Others Market by Country
6.4.2 LAMEA Solar Encapsulation Market by Technology
6.4.2.1 LAMEA Polycrystalline Silicon Solar Market by Country
6.4.2.2 LAMEA Cadmium Telluride Market by Country
6.4.2.3 LAMEA Copper Indium Gallium Selenide Market by Country
6.4.2.4 LAMEA Amorphous Silicon Market by Country
6.4.3 LAMEA Solar Encapsulation Market by Application
6.4.3.1 LAMEA Construction Market by Country
6.4.3.2 LAMEA Electronics Market by Country
6.4.3.3 LAMEA Automotive Market by Country
6.4.3.4 LAMEA Others Market by Country
6.4.4 LAMEA Solar Encapsulation Market by Country
6.4.4.1 Brazil Solar Encapsulation Market
6.4.4.1.1 Brazil Solar Encapsulation Market by Material
6.4.4.1.2 Brazil Solar Encapsulation Market by Technology
6.4.4.1.3 Brazil Solar Encapsulation Market by Application
6.4.4.2 Argentina Solar Encapsulation Market
6.4.4.2.1 Argentina Solar Encapsulation Market by Material
6.4.4.2.2 Argentina Solar Encapsulation Market by Technology
6.4.4.2.3 Argentina Solar Encapsulation Market by Application
6.4.4.3 UAE Solar Encapsulation Market
6.4.4.3.1 UAE Solar Encapsulation Market by Material
6.4.4.3.2 UAE Solar Encapsulation Market by Technology
6.4.4.3.3 UAE Solar Encapsulation Market by Application
6.4.4.4 Saudi Arabia Solar Encapsulation Market
6.4.4.4.1 Saudi Arabia Solar Encapsulation Market by Material
6.4.4.4.2 Saudi Arabia Solar Encapsulation Market by Technology
6.4.4.4.3 Saudi Arabia Solar Encapsulation Market by Application
6.4.4.5 South Africa Solar Encapsulation Market
6.4.4.5.1 South Africa Solar Encapsulation Market by Material
6.4.4.5.2 South Africa Solar Encapsulation Market by Technology
6.4.4.5.3 South Africa Solar Encapsulation Market by Application
6.4.4.6 Nigeria Solar Encapsulation Market
6.4.4.6.1 Nigeria Solar Encapsulation Market by Material
6.4.4.6.2 Nigeria Solar Encapsulation Market by Technology
6.4.4.6.3 Nigeria Solar Encapsulation Market by Application
6.4.4.7 Rest of LAMEA Solar Encapsulation Market
6.4.4.7.1 Rest of LAMEA Solar Encapsulation Market by Material
6.4.4.7.2 Rest of LAMEA Solar Encapsulation Market by Technology
6.4.4.7.3 Rest of LAMEA Solar Encapsulation Market by Application
Chapter 7. Company Profiles
7.1 3M Company
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 SWOT Analysis
7.2 DuPont de Nemours, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.3 First Solar, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.4 Dai Nippon Printing Co., Ltd. (dnpSolar)
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.5 Dow, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.6 Hangzhou First Applied Material Co., Ltd.
7.6.1 Company Overview
7.7 Kuraray Co., Ltd.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis

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