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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
Market Report I 2024-07-01 I 140 Pages I IMARC Group
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.
Solar encapsulation refers to the technique used to protect solar panels and equipment against degradation due to various external and environmental factors. It involves encapsulating photovoltaic (PV) cells with a polymeric material, generally ethylene vinyl acetate (EVA) film. It helps extend the life of solar cells, mitigate stability issues, and offer protection against corrosion and ultraviolet (UV) radiation, low mechanical stress, and temperature changes. It also assists in providing adhesion between the solar cells, the top surface, and the rear surface of the PV module. In recent years, solar encapsulation has gained immense popularity as it aids in enhancing the performance, efficiency, durability, and cost-effectiveness of PV modules.
Solar Encapsulation Market Trends:
The widespread adoption of solar panels and the escalating demand for electricity across the globe represent the primary factors driving the market growth. Additionally, there has been a substantial shift toward renewable energy sources due to the growing environmental concerns and depleting conventional energy sources. Along with this, the increasing private and public investments to modernize the existing infrastructure are catalyzing the market growth. Besides this, 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), are augmenting the product demand. Moreover, the implementation of favorable policies and subsidies on the installation of solar panels by governments of various countries is propelling the market growth. As a result, the leading manufacturers are developing new encapsulants for emerging PV technologies. Other factors, including the growing need to reduce carbon footprint, rapid urbanization, technological advancements, and emerging solar energy applications for power generation, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global solar encapsulation market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on material, technology and application.
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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. and STR Holdings Inc.
Key Questions Answered in This Report
1. What was the size of the global solar encapsulation market in 2023?
2. What is the expected growth rate of the global solar encapsulation market during 2024-2032?
3. What are the key factors driving the global solar encapsulation market?
4. What has been the impact of COVID-19 on the global solar encapsulation market?
5. What is the breakup of the global solar encapsulation market based on the material?
6. What is the breakup of the global solar encapsulation market based on the technology?
7. What are the key regions in the global solar encapsulation market?
8. Who are the key players/companies in the global solar encapsulation market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar Encapsulation Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Material
6.1 Ethylene Vinyl Acetate
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Non-Ethylene Vinyl Acetate
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 UV Curable Resins
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Technology
7.1 Single-crystal/Polycrystalline Silicon Solar Technology
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Thin-film Solar Technology
7.2.1 Market Trends
7.2.2 Key Segments
7.2.2.1 Cadmium Telluride (CdTe)
7.2.2.2 Copper Indium Gallium Selenide (CIGS)
7.2.2.3 Amorphous Silicon (a-Si)
7.2.3 Market Forecast
8 Market Breakup by Application
8.1 Construction
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Electronics
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Automotive
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 3M Company
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Bridgestone Corporation
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 dnpSolar
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Dow Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Dupont De Nemours Inc.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Eastman Chemical Company
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 First Solar Inc.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Kuraray Co. Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Mitsubishi Chemical Holdings Corporation
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Mitsui Chemicals Inc.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 RenewSys India Pvt. Ltd.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 STR Holdings Inc.
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis
Figure 1: Global: Solar Encapsulation Market: Major Drivers and Challenges
Figure 2: Global: Solar Encapsulation Market: Sales Value (in Million US$), 2018-2023
Figure 3: Global: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 4: Global: Solar Encapsulation Market: Breakup by Material (in %), 2023
Figure 5: Global: Solar Encapsulation Market: Breakup by Technology (in %), 2023
Figure 6: Global: Solar Encapsulation Market: Breakup by Application (in %), 2023
Figure 7: Global: Solar Encapsulation Market: Breakup by Region (in %), 2023
Figure 8: Global: Solar Encapsulation (Ethylene Vinyl Acetate) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Solar Encapsulation (Ethylene Vinyl Acetate) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Solar Encapsulation (Non-Ethylene Vinyl Acetate) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Solar Encapsulation (Non-Ethylene Vinyl Acetate) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Solar Encapsulation (UV Curable Resins) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Solar Encapsulation (UV Curable Resins) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Solar Encapsulation (Single-crystal/Polycrystalline Silicon Solar Technology) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Solar Encapsulation (Single-crystal/Polycrystalline Silicon Solar Technology) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Solar Encapsulation (Thin-film Solar Technology) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Solar Encapsulation (Thin-film Solar Technology) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Solar Encapsulation (Construction) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Solar Encapsulation (Construction) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Solar Encapsulation (Electronics) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Solar Encapsulation (Electronics) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Solar Encapsulation (Automotive) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Solar Encapsulation (Automotive) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Solar Encapsulation (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Solar Encapsulation (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: North America: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: North America: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: United States: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: United States: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Canada: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Canada: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Asia-Pacific: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Asia-Pacific: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: China: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: China: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Japan: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Japan: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: India: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: India: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: South Korea: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: South Korea: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Australia: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Australia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Indonesia: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Indonesia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Europe: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Europe: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Germany: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Germany: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: France: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: France: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: United Kingdom: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: United Kingdom: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Italy: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Italy: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Spain: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Spain: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Russia: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Russia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Latin America: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Latin America: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Brazil: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Brazil: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Mexico: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Mexico: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Middle East and Africa: Solar Encapsulation Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Middle East and Africa: Solar Encapsulation Market: Breakup by Country (in %), 2023
Figure 74: Middle East and Africa: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 75: Global: Solar Encapsulation Industry: SWOT Analysis
Figure 76: Global: Solar Encapsulation Industry: Value Chain Analysis
Figure 77: Global: Solar Encapsulation Industry: Porter's Five Forces Analysis
Table 1: Global: Solar Encapsulation Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Solar Encapsulation Market Forecast: Breakup by Material (in Million US$), 2024-2032
Table 3: Global: Solar Encapsulation Market Forecast: Breakup by Technology (in Million US$), 2024-2032
Table 4: Global: Solar Encapsulation Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Solar Encapsulation Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Solar Encapsulation Market: Competitive Structure
Table 7: Global: Solar Encapsulation Market: Key Players
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