Global Encapsulant Materials for PV Modules Market Growth 2023-2029

Global Encapsulant Materials for PV Modules Market Growth 2023-2029

According to our (LP Info Research) latest study, the global Encapsulant Materials for PV Modules market size was valued at US$ 5974.5 million in 2022. With growing demand in downstream market and recovery from influence of COVID-19 and the Russia-Ukraine War, the Encapsulant Materials for PV Modules is forecast to a readjusted size of US$ 6824.8 million by 2029 with a CAGR of 1.9% during review period.

The research report highlights the growth potential of the global Encapsulant Materials for PV Modules market. With recovery from influence of COVID-19 and the Russia-Ukraine War, Encapsulant Materials for PV Modules are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Encapsulant Materials for PV Modules. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Encapsulant Materials for PV Modules market.

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. The material typically used for this application is Ethylene-Vinyl Acetate (EVA). It had made such a name for itself in the market that it was synonymous with encapsulation, enjoying a monopoly for over three decades. Polyolefin (POE), however, is evolving strongly as an alternative, especially with the growing popularity of bifacial technology. Though bifacial is growing at a faster pace, monofacial market is still larger, meaning EVA still dominates this sector.

Global key players of encapsulant materials for PV modules include First, HIUV, Sveck, Cybrid Technologies, Betterial, etc. The top five players hold a share about 82%. Asia-Pacific is the largest market, has a share about 94%, followed by North America and Europe, with share 3% and 2%, separately.

Key Features:

The report on Encapsulant Materials for PV Modules market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Encapsulant Materials for PV Modules market. It may include historical data, market segmentation by Type (e.g., EVA Film, POE Film), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Encapsulant Materials for PV Modules market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Encapsulant Materials for PV Modules market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Encapsulant Materials for PV Modules industry. This include advancements in Encapsulant Materials for PV Modules technology, Encapsulant Materials for PV Modules new entrants, Encapsulant Materials for PV Modules new investment, and other innovations that are shaping the future of Encapsulant Materials for PV Modules.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Encapsulant Materials for PV Modules market. It includes factors influencing customer ' purchasing decisions, preferences for Encapsulant Materials for PV Modules product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Encapsulant Materials for PV Modules market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Encapsulant Materials for PV Modules market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Encapsulant Materials for PV Modules market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Encapsulant Materials for PV Modules industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Encapsulant Materials for PV Modules market.

Market Segmentation:

Encapsulant Materials for PV Modules market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Segmentation by type
EVA Film
POE Film
Others

Segmentation by application
Monofacial Module
Bifacial Module

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
First
Sveck
HIUV
Betterial
Tianyang
STR Solar
Lucent CleanEnergy
Mitsui Chemicals
Vishakha Renewables
RenewSys
Cybrid Technologies
TPI Polene
3M
Hanwha
SSPC
LUSHAN

Key Questions Addressed in this Report

What is the 10-year outlook for the global Encapsulant Materials for PV Modules market?

What factors are driving Encapsulant Materials for PV Modules market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Encapsulant Materials for PV Modules market opportunities vary by end market size?

How does Encapsulant Materials for PV Modules break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.