Global Solar Encapsulation Market: Accelerated by Rising Rooftop Photovoltaics (PV) Installations

LANDON, GREATER LANDON, UK, November 3, 2023 /EINPresswire.com/ -- The global solar encapsulation market, valued at $2.68 billion in 2022, is anticipated to reach $3.34 billion in 2023, exhibiting a robust compound annual growth rate (CAGR) of 24.3%. Despite the disruptive impact of the Russia-Ukraine conflict, leading to economic sanctions, commodity price surges, and supply chain disruptions, the solar encapsulation market is on course for substantial expansion, with a projected market size of $8.04 billion by 2027, maintaining a steady CAGR of 24.6%.

Market Segmentation and Key Players

• Material: Non-Ethylene Vinyl Acetate, UV Curable Resin, Other Materials
• Solar Module: Polycrystalline Silicon Cells, Cadmium Telluride, Amorphous Silicon Cells, Other Solar Modules
• Application: Automotive, Electronics, Other Applications

Major players such as 3M Company, Akcome, STR Holding Inc., Dow Inc., Dupont De Nemours Inc., First Solar Inc., Mitsubishi Plastics Inc., Hiuv, Changzhou Bbetterfilm, DNP Solar, Hangzhou First PV Material Co Ltd., SKC, and Lucent are driving industry advancements and innovation within the solar encapsulation market.

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Rising Rooftop Photovoltaics (PV) Installations Driving Market Growth

The escalating demand for rooftop photovoltaics (PV) installations in developing economies is a key driver for the sustained growth of the solar encapsulation market. As environmental concerns mount and traditional energy sources continue to deplete, there is a significant shift towards renewable energy sources, particularly solar energy, leading to a surge in rooftop PV installations. As a crucial step in ensuring the reliability and longevity of PV systems, solar encapsulation experiences heightened demand, particularly in response to the increasing rooftop PV installations in developing economies.

Technology Advancement as a Key Market Trend

An essential trend gaining momentum in the solar encapsulation market is the increasing focus on technological advancements and the deployment of cutting-edge encapsulation technologies for solar modules. With the adoption of advanced encapsulation technologies, companies are able to bridge gaps between solar cells and enhance the efficiency of PV modules, thereby fostering business expansion and fostering a competitive edge within the market.

Regional Analysis and Market Dynamics

In 2022, Asia-Pacific emerged as the largest region in the solar encapsulation market, signaling robust market dynamics and favorable growth prospects. The comprehensive market analysis spans key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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Solar Encapsulation Global Market Report 2023from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Solar Encapsulation Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on solar encapsulation market size, solar encapsulation market drivers and trends, solar encapsulation market major players, competitors' revenues, market positioning, and market growth across geographies. The solar encapsulation market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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