Global Photovoltaic Materials Market [By Material Type (Monocrystalline Silicon, Polycrystalline Silicon, Cadmium Telluride, Copper Indium Gallium Selenide, Others); By Product (Back Sheets, Encapsulants, Front Sheets, Others); By End-User (Commercial, Re

Global Photovoltaic Materials Market [By Material Type (Monocrystalline Silicon, Polycrystalline Silicon, Cadmium Telluride, Copper Indium Gallium Selenide, Others); By Product (Back Sheets, Encapsulants, Front Sheets, Others); By End-User (Commercial, Residential, Utility, Others); By Region]: Market Size & Forecast, 2023 – 2032



The global photovoltaic materials market size is expected to reach USD 59.22 billion by 2032, according to a new study by Polaris Market Research. The report “Global Photovoltaic Materials Market [By Material Type (Monocrystalline Silicon, Polycrystalline Silicon, Cadmium Telluride, Copper Indium Gallium Selenide, Others); By Product; By End-User; By Region]: Market Size & Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Global Photovoltaic (PV) materials are a crucial component of solar energy systems, converting sunlight into electricity. The PV materials industry is a rapidly growing sector, driven by the increasing demand for renewable energy sources and the declining cost of solar energy systems. This industrial overview will provide a closer look at the PV materials industry, including its key players, manufacturing processes, and current trends.

Global Photovoltaic (PV) materials are a crucial component of solar energy systems, converting sunlight into electricity. The PV materials industry is a rapidly growing sector, driven by the increasing demand for renewable energy sources and the declining cost of solar energy systems. This industrial overview will provide a closer look at the PV materials industry, including its key players, manufacturing processes, and current trends.

The PV materials industry is primarily composed of manufacturers that produce the components necessary for solar energy systems. These components include solar cells, which are made from silicon or other materials and convert sunlight into electricity, and modules or panels, which are made up of multiple solar cells and used to capture and convert sunlight into electricity. Other components of solar energy systems include inverters, which convert direct current (DC) electricity produced by the solar panels into alternating current (AC) electricity that can be used by homes and businesses, and mounting and racking systems, which hold the solar panels in place.

The manufacturing process for PV materials involves several steps, including the production of silicon wafers, the fabrication of solar cells, and the assembly of modules. Silicon wafers are produced from raw silicon using a process known as the Czochralski method, which involves melting the silicon and then slowly cooling it to form a large single crystal. The wafers are then cut into thin slices and polished to a high degree of smoothness. The solar cells are then fabricated by depositing layers of material onto the silicon wafer, which form a junction between the positive and negative charges. The cells are then assembled into modules, which are typically framed and covered with glass or other materials to protect them from the environment.

Global Photovoltaic Materials Market Report Highlights

In the coming years, it is anticipated that the segment of the solar market known as Copper Indium Gallium Selenide (CIGS) will experience the most rapid expansion. Thin-film CIGS solar cells have a number of advantages over conventional silicon-based solar cells. The high efficiency of CIGS solar cells—up to 22% for laboratory cells and 17% for commercial cells—is one of their primary benefits.

The solar module materials market's encapsulants sector currently holds the largest market share. Encapsulants are necessary components of solar modules because they shield the solar cells from moisture, UV radiation, and physical damage, all of which have the potential to degrade the cells' performance over time.

In the coming years, the Asia-Pacific region is anticipated to see significant growth in the demand for photovoltaic materials. This is because of a number of things, such as the region's low labor and material costs, government initiatives to encourage the use of renewable energy, and the rising demand for solar energy.

The global players include DuPont, Targray Technology International, Inc, Shin-Etsu Chemicals Co., Ltd., Mitsubishi Material Corporation, Hemlock Semiconductor Corporation LLC, Atecom Technology Co., Ltd., American Elements, Ferrotec Corporation, Topray Solar,Hangzhou First Applied Material Co. Ltd., 1366 Technologies Inc., NovoPolymers NV.

Polaris Market Research has segmented the Global Photovoltaic Materials market report based on component, Material Type, Product, End-User, and region:

Global Photovoltaic Materials, Material Type Outlook (Revenue, USD Million, 2019-2032)

Monocrystalline Silicon

Polycrystalline Silicon

Cadmium Telluride

Copper Indium Gallium Selenide

Others

Global Photovoltaic Materials, Product Outlook (Revenue, USD Million, 2019-2032)

Back Sheets

Encapsulants

Front Sheets

Others

Global Photovoltaic Materials, End-User Outlook (Revenue, USD Million, 2019-2032)

Commercial

Residential

Utility

Others

Global Photovoltaic Materials, Regional Outlook (Revenue - USD Million, 2019-2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa


1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
1.1.3. Assumptions
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Global Photovoltaic Materials Market Insights
4.1. Photovoltaic Materials Market – End-User Snapshot
4.2. Photovoltaic Materials Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Increasing demand for renewable energy sources
4.2.1.2. Adoption of solar energy systems
4.2.2. Restraints and Challenges
4.2.2.1. Lack of Highly Skilled Professionals
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Photovoltaic Materials Market End-User Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Photovoltaic Materials Market, by Material Type
5.1. Key Findings
5.2. Introduction
5.2.1. Global Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
5.3. Monocrystalline Silicon
5.3.1. Global Photovoltaic Materials Market, by Monocrystalline Silicon, by Region, 2019-2032 (USD Billion)
5.4. Polycrystalline Silicon
5.4.1. Global Photovoltaic Materials Market, by Polycrystalline Silicon, by Region, 2019-2032 (USD Billion)
5.5. Cadmium Telluride
5.5.1. Global Photovoltaic Materials Market, by Cadmium Telluride, by Region, 2019-2032 (USD Billion)
5.6. Copper Indium Gallium Selenide
5.6.1. Global Photovoltaic Materials Market, by Copper Indium Gallium Selenide, by Region, 2019-2032 (USD Billion)
5.7. Others
5.7.1. Global Photovoltaic Materials Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Photovoltaic Materials Market, by Product
6.1. Key Findings
6.2. Introduction
6.2.1. Global Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
6.3. Back Sheets
6.3.1. Global Photovoltaic Materials Market, by Back Sheets, by Region, 2019-2032 (USD Billion)
6.4. Encapsulants
6.4.1. Global Photovoltaic Materials Market, by Encapsulants, by Region, 2019-2032 (USD Billion)
6.5. Front Sheets
6.5.1. Global Photovoltaic Materials Market, by Front Sheets, by Region, 2019-2032 (USD Billion)
6.6. Others
6.6.1. Global Photovoltaic Materials Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Photovoltaic Materials Market, by End-User
7.1. Key Findings
7.2. Introduction
7.2.1. Global Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
7.3. Commercial
7.3.1. Global Photovoltaic Materials Market, by Commercial, By Region, 2019-2032 (USD Billion)
7.4. Residential
7.4.1. Global Photovoltaic Materials Market, by Residential, By Region, 2019-2032 (USD Billion)
7.5. Utility
7.5.1. Global Photovoltaic Materials Market, by Utility, By Region, 2019-2032 (USD Billion)
7.6. Others
7.6.1. Global Photovoltaic Materials Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Photovoltaic Materials Market, by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Photovoltaic Materials Market Assessment, By Geography, 2019-2032 (USD Billion)
8.3. Photovoltaic Materials Market – North America
8.3.1. North America: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.3.2. North America: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.3.3. North America: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.3.4. Photovoltaic Materials Market – U.S.
8.3.4.1. U.S.: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.3.4.2. U.S.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.3.4.3. U.S.: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.3.5. Photovoltaic Materials Market – Canada
8.3.5.1. Canada: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.3.5.2. Canada.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.3.5.3. Canada: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.4. Photovoltaic Materials Market – Europe
8.4.1. Europe: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.4.2. Europe.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.4.3. Europe: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.4.4. Photovoltaic Materials Market – UK
8.4.4.1. UK: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.4.4.2. UK.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.4.4.3. UK: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.4.5. Photovoltaic Materials Market – France
8.4.5.1. France: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.4.5.2. France.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.4.5.3. France: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.4.6. Photovoltaic Materials Market – Germany
8.4.6.1. Germany: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.4.6.2. Germany.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.4.6.3. Germany: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.4.7. Photovoltaic Materials Market – Italy
8.4.7.1. Italy: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.4.7.2. Italy.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.4.7.3. Italy: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.4.8. Photovoltaic Materials Market – Spain
8.4.8.1. Spain: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.4.8.2. Spain.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.4.8.3. Spain: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.4.9. Photovoltaic Materials Market – Netherlands
8.4.9.1. Netherlands: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.4.9.2. Netherlands.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.4.9.3. Netherlands: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.4.10. Photovoltaic Materials Market – Russia
8.4.10.1. Russia: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.4.10.2. Russia.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.4.10.3. Russia: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.5. Photovoltaic Materials Market – Asia Pacific
8.5.1. Asia Pacific: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.5.2. Asia Pacific.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.5.3. Asia Pacific: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.5.4. Photovoltaic Materials Market – China
8.5.4.1. China: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.5.4.2. China.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.5.4.3. China: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.5.5. Photovoltaic Materials Market – India
8.5.5.1. India: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.5.5.2. India.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.5.5.3. India: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.5.6. Photovoltaic Materials Market – Malaysia
8.5.6.1. Malaysia: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.5.6.2. Malaysia.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.5.6.3. Malaysia: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.5.7. Photovoltaic Materials Market – Japan
8.5.7.1. Japan: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.5.7.2. Japan.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.5.7.3. Japan: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.5.8. Photovoltaic Materials Market – Indonesia
8.5.8.1. Indonesia: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.5.8.2. Indonesia.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.5.8.3. Indonesia: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.5.9. Photovoltaic Materials Market – South Korea
8.5.9.1. South Korea: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.5.9.2. South Korea.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.5.9.3. South Korea: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.6. Photovoltaic Materials Market – Middle East & Africa
8.6.1. Middle East & Africa: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.6.2. Middle East & Africa.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.6.3. Middle East & Africa: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.6.4. Photovoltaic Materials Market – Saudi Arabia
8.6.4.1. Saudi Arabia: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.6.4.2. Saudi Arabia.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.6.4.3. Saudi Arabia: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.6.5. Photovoltaic Materials Market – UAE
8.6.5.1. UAE: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.6.5.2. UAE.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.6.5.3. UAE: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.6.6. Photovoltaic Materials Market – Israel
8.6.6.1. Israel: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.6.6.2. Israel.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.6.6.3. Israel: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.6.7. Photovoltaic Materials Market – South Africa
8.6.7.1. South Africa: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.6.7.2. South Africa.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.6.7.3. South Africa: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.7. Photovoltaic Materials Market – Latin America
8.7.1. Latin America: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.7.2. Latin America.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.7.3. Latin America: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.7.4. Photovoltaic Materials Market – Mexico
8.7.4.1. Mexico: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.7.4.2. Mexico.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.7.4.3. Mexico: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.7.5. Photovoltaic Materials Market – Brazil
8.7.5.1. Brazil: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.7.5.2. Brazil.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.7.5.3. Brazil: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
8.7.6. Photovoltaic Materials Market – Argentina
8.7.6.1. Argentina: Photovoltaic Materials Market, by Material Type, 2019-2032 (USD Billion)
8.7.6.2. Argentina.: Photovoltaic Materials Market, by End-User, 2019-2032 (USD Billion)
8.7.6.3. Argentina: Photovoltaic Materials Market, by Product, 2019-2032 (USD Billion)
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
10.1. DuPont
10.1.1. Company Overview
10.1.2. Financial PerProductance
10.1.3. Product Benchmarking
10.1.4. Recent Development
10.2. Targray Technology International, Inc
10.2.1. Company Overview
10.2.2. Financial PerProductance
10.2.3. Product Benchmarking
10.2.4. Recent Development
10.3. Shin-Etsu Chemicals Co., Ltd
10.3.1. Company Overview
10.3.2. Financial PerProductance
10.3.3. Product Benchmarking
10.3.4. Recent Development
10.4. Mitsubishi Material Corporation
10.4.1. Company Overview
10.4.2. Financial PerProductance
10.4.3. Product Benchmarking
10.4.4. Recent Development
10.5. Hemlock Semiconductor Corporation LLC
10.5.1. Company Overview
10.5.2. Financial PerProductance
10.5.3. Product Benchmarking
10.5.4. Recent Development
10.6. Atecom Technology Co
10.6.1. Company Overview
10.6.2. Financial PerProductance
10.6.3. Product Benchmarking
10.6.4. Recent Development
10.7. American Elements
10.7.1. Company Overview
10.7.2. Financial PerProductance
10.7.3. Product Benchmarking
10.7.4. Recent Development
10.8. Ferrotec Corporation
10.8.1. Company Overview
10.8.2. Financial PerProductance
10.8.3. Product Benchmarking
10.8.4. Recent Development
10.9. Topray Solar
10.9.1. Company Overview
10.9.2. Financial PerProductance
10.9.3. Product Benchmarking
10.9.4. Recent Development
10.10. Hangzhou First Applied Material Co. Ltd
10.10.1. Company Overview
10.10.2. Financial PerProductance
10.10.3. Product Benchmarking
10.10.4. Recent Development
10.11. 1366 Technologies Inc
10.11.1. Company Overview
10.11.2. Financial PerProductance
10.11.3. Product Benchmarking
10.11.4. Recent Development
10.12. NovoPolymers NV
10.12.1. Company Overview
10.12.2. Financial PerProductance
10.12.3. Product Benchmarking
10.12.4. Recent Development

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings