Solar Encapsulation Market Size, Share, Growth Trends 2024-2032

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IMARC Group, a leading market research company, has recently releases report titled “Solar Encapsulation Market Report by Material (Ethylene Vinyl Acetate, Non-Ethylene Vinyl Acetate, UV Curable Resins), Technology (Single-crystal/Polycrystalline Silicon Solar Technology, Thin-film Solar Technology), Application (Construction, Electronics, Automotive, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the market.

How Big is the Solar Encapsulation Market?

The global solar encapsulation market size reached US$ 2,701.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 7,802.7 Million by 2032, exhibiting a growth rate (CAGR) of 12.3% during 2024-2032.

Industry Overview of Solar Encapsulation

Solar encapsulation represents the technique used to protect solar panels and equipment against degradation, owing to numerous external and environmental factors. It involves encapsulating photovoltaic (PV) cells with a polymeric material, usually ethylene vinyl acetate (EVA) film. Solar encapsulation aids in extending the life of solar cells, mitigating stability issues, and providing protection against corrosion and ultraviolet (UV) radiation, low mechanical stress, and temperature changes. In recent times, this technique has gained immense popularity as it helps in enhancing the performance, efficiency, durability, and cost-effectiveness of PV modules.

For an in-depth analysis, you can refer sample copy of the report:

What are the growth prospects and trends in the solar encapsulation industry?

The widespread adoption of heliacal panels and the escalating demand for electricity across the globe are primarily driving the solar encapsulation market. Furthermore, the shifting preferences toward renewable energy sources, on account of the growing environmental concerns and depleting conventional power sources, are also augmenting the market growth. Apart from this, the increasing private and public investments to modernize the existing infrastructure are positively influencing the global market.

Moreover, the development of low-cost encapsulant materials, such as cadmium telluride and amorphous silicon cells, and non-EVA-based encapsulations, including thermoplastic polyurethane (TPU) and polyvinyl butyral (PVB), is further bolstering the market growth. Besides this, the launch of favorable policies and subsidies on the installation of solar panels by government bodies of several countries is acting as another significant growth-inducing factor. Additionally, the development of new encapsulants for emerging PV technologies by manufacturers is also catalyzing the global market.

In addition to this, the growing need to reduce carbon footprint and the increasing applications of power generation are further driving the market growth. Furthermore, rising urbanization levels and various technological advancements are expected to drive the solar encapsulation market in the coming years.

Leading Companies Operating in the Global Solar Encapsulation Industry:

  • 3M Company
  • Bridgestone Corporation
  • dnpSolar
  • Dow Inc.
  • Dupont De Nemours Inc.
  • Eastman Chemical Company
  • First Solar Inc.
  • Kuraray Co. Ltd.
  • Mitsubishi Chemical Holdings Corporation
  • Mitsui Chemicals Inc.
  • RenewSys India Pvt. Ltd.
  • STR Holdings Inc.

Solar Encapsulation Market Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Material:

  • Ethylene Vinyl Acetate
  • Non-Ethylene Vinyl Acetate
  • UV Curable Resins

Breakup by Technology:

  • Single-crystal/Polycrystalline Silicon Solar Technology
  • Thin-film Solar Technology
    • Cadmium Telluride (CdTe)
    • Copper Indium Gallium Selenide (CIGS)
    • Amorphous Silicon (a-Si)

Breakup by Application:

  • Construction
  • Electronics
  • Automotive
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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