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Solar Encapsulant Films Market Share, Size, Future Demand, Global Research, Top Leading Player, Emerging Trends and Forecast to 2026

Solar Encapsulant Films Market: Introduction

Solar encapsulant is a thin film sheet that protects solar cells or modules from external moisture, dust, and air. It provides optical and electrical transmissivity to solar modules. Rising demand for rooftop photovoltaic modules and increasing consciousness about the advantages of solar cell technology are some factors driving the solar encapsulants film market. However, high production cost of building crystalline silicon solar modules have led to the need for cost-efficient solar module production technologies. Thus, manufacturers are focusing on developing inexpensive and improved technologies for solar module production. An emerging technology in the solar encapsulant market is the thin solar film cell technology.

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Photo-voltaic is an extensively used solar cell technology. It directly converts sunlight to electrical energy through a device called solar cell. Solar encapsulating materials are employed to provide bond between the top and the back surfaces of the photo-voltaic module from high temperature, moisture, and external stress. Demand for photo-voltaic modules is increasing due to their benefits such as economic viability, environmental sustainability, and clean green energy. Degradation of solar encapsulating material reduces its efficiency in protecting the solar module. Exposure of encapsulant materials, such as ethylene vinyl acetate and polyolefin elastomer, to moisture and corrosion results in browning and deterioration of these materials. Hence, degradation of solar encapsulating materials is likely to hinder the solar encapsulant films market.

Solar Encapsulant Films Market: Segmentation Outlook

The global solar encapsulant films market can be segmented based on material, technology, application, and region. In terms of material, the solar encapsulant films market can be classified into ethylene vinyl acetate (EVA), polyvinyl butyral (PVB), polyolefin elastomer, and others. The EVA segment is projected to expand at a rapid pace during the forecast period. EVA provides superior elasticity, toughness, and adhesive strength, and protection against corrosion and delamination; therefore, it is extensively used for the production of solar cells.

Based on technology, the solar encapsulant films market can be categorized into silicon solar films and thin solar films. The thin solar film technology is further subdivided into cadmium telluride (CdTe), copper indium gallium selenide (CIGS), and amorphous silicon (a-Si). Mass production of solar cells is economical using the thin solar film cell technology. The thin solar film segment is projected to expand at a considerable pace during the forecast period. Increase in demand for solar cells is expected to drive the thin solar films segment during the forecast period.

In terms of application, the solar encapsulant films market can be divided into automotive, construction, electronics, and others. The construction segment is projected to expand at a substantial pace during the forecast period. Construction is expected to be a major application of solar encapsulant films during the forecast period owing to the high demand for photo-voltaic modules from residential and commercial sectors.

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Solar Encapsulant Films Market: Regional Outlook

Based on region, the global solar encapsulant films market can be segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Asia Pacific is expected to continue to dominate the global solar encapsulant films market during the forecast period. Increase in population in the region is fuelling the demand for residential and industrial construction in countries such as India and China. These constructions are cost effective & ecofriendly. This, in turn, is expected to drive the solar encapsulant films market during the forecast period.

According to the China Photovoltaic Industry Association, China increased its solar panel production capacity to 56 GW in 2018, which is expected to reach 118 GW by 2020. Hence, Rise in efforts of solar material manufacturers to increasing their solar production capacity is likely to boost the solar encapsulant films market in the region during the forecast period.

Solar Encapsulant Films Market: Key Player

The global solar encapsulant films market is fragmented. Large numbers of companies operate at the global and regional level. Major companies operating in the global solar encapsulant films market include Hangzhou Material Co. Ltd., Changzhou Sveck Technology Co. Ltd., Renewsys India Pvt. Ltd, STR Holdings Inc., Encapsulantes de Valor Anadido S.A., Jiangsu Akcome Science & Technology Co. Ltd., Saint-Gobain S.A., and Isovoltaic AG.

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