Global Info Research announces the release of the report “Global Encapsulant Materials for PV Modules Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029” . The report is a detailed and comprehensive analysis presented by region and country, type and application. As the market is constantly changing, the report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2023, are provided. In addition, the report provides key insights about market drivers, restraints, opportunities, new product launches or approvals, COVID-19 and Russia-Ukraine War Influence.
According to our (Global Info Research) latest study, the global Encapsulant Materials for PV Modules market size was valued at USD 6284.1 million in 2022 and is forecast to a readjusted size of USD 7105.5 million by 2029 with a CAGR of 1.8% during review period.
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.
The Global Info Research report includes an overview of the development of the Encapsulant Materials for PV Modules industry chain, the market status of Monofacial Module (EVA Film, POE Film), Bifacial Module (EVA Film, POE Film), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Encapsulant Materials for PV Modules.
Regionally, the report analyzes the Encapsulant Materials for PV Modules markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Encapsulant Materials for PV Modules market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
Global Encapsulant Materials for PV Modules market size and forecasts, in consumption value), sales quantity, and average selling prices, 2018-2029
Global Encapsulant Materials for PV Modules market size and forecasts by region and country, in consumption value, sales quantity, and average selling prices, 2018-2029
Global Encapsulant Materials for PV Modules market size and forecasts, by Type and by Application, in consumption value, sales quantity, and average selling prices, 2018-2029
Global Encapsulant Materials for PV Modules market shares of main players, shipments in revenue, sales quantity, and ASP, 2018-2023
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Encapsulant Materials for PV Modules
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Encapsulant Materials for PV Modules market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments.
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The Encapsulant Materials for PV Modules market is segmented as below:
Market segment by Type
EVA Film
POE Film
Others
Market segment by Application
Monofacial Module
Bifacial Module
Major players covered
First
Sveck
HIUV
Betterial
Tianyang
STR Solar
Lucent CleanEnergy
Mitsui Chemicals
Vishakha Renewables
RenewSys
Cybrid Technologies
TPI Polene
3M
Hanwha
SSPC
LUSHAN
The Main Contents of the Report, includes a total of 15 chapters:
Chapter 1, to describe Encapsulant Materials for PV Modules product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Encapsulant Materials for PV Modules, with price, sales, revenue and global market share of Encapsulant Materials for PV Modules from 2018 to 2023.
Chapter 3, the Encapsulant Materials for PV Modules competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Encapsulant Materials for PV Modules breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2018 to 2029.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2018 to 2029.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2022.and Encapsulant Materials for PV Modules market forecast, by regions, type and application, with sales and revenue, from 2024 to 2029.
Chapter 12, market dynamics, drivers, restraints, trends, Porters Five Forces analysis, and Influence of COVID-19 and Russia-Ukraine War.
Chapter 13, the key raw materials and key suppliers, and industry chain of Encapsulant Materials for PV Modules.
Chapter 14 and 15, to describe Encapsulant Materials for PV Modules sales channel, distributors, customers, research findings and conclusion.
The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the Encapsulant Materials for PV Modules market covers the following areas:
ü Encapsulant Materials for PV Modules market sizing
ü Encapsulant Materials for PV Modules market forecast
ü Encapsulant Materials for PV Modules market industry analysis
ü Analyze the needs of the global Encapsulant Materials for PV Modulesbusiness market
ü Answer the market level of global Encapsulant Materials for PV Modules
ü Statistics the annual growth of the global Encapsulant Materials for PV Modulesproduction market
ü The main producers of the global Encapsulant Materials for PV Modulesproduction market
ü Describe the growth factor that promotes market demand
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Global Encapsulant Market was valued at 1.40 billion in 2018 and is anticipated to reach 2.17 billion by 2026 at a CAGR of 5.6%.Encapsulant MarketEncapsulant offers additional protection to the electronics components.
Encapsulant is considered to be the better alternative in manufacturing processes used through automated dispensing equipment.
Expanding consumer demand for electronics equipment and accumulative reach of technology in everyday life are factors for the growth of the encapsulant market.
The rapid growth of solar photovoltaic panel market provides an opportunity for encapsulant market.In the encapsulant market, silicone within chemistry segment will grow at the highest CAGR.
Demand for electronic devices as well as commercialization of electric vehicles is driving the silicone segment in encapsulant market.
By curing type room temperature segment is projected to grow at the highest rate.
