Favorable Government Policies on Clean Energy To Drive Solar Encapsulant Demand

Solar Encapsulant Market Analysis and Future Scope

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Environmental degradation owing to power generation through non-renewable resources is impelling governments to implement policies on renewable energy resources. For instance, the government of India has initiated the Grid Connected Solar Rooftop Programme to achieve a cumulative rooftop solar (RTS) capacity of 40,000 megawatts (MW) by the end of 2022. Similarly, the Solar Energy Technologies Program of the United States Environmental Protection Agency (EPA) focuses on the low-cost production of photovoltaics (PVs) and other solar power products and increased solar deployment in the country.

Thus, the surging government focus on clean energy and rising public awareness on the advantages of the solar cell technology will help the solar encapsulant market advance at a healthy CAGR of 28.4% during 2018–2023. According to P&S Intelligence, the market was valued at $1,036.0 million in 2017, and it is expected to reach $4,555.4 million by 2023. People across the world are focusing on constructing green buildings, owing to which they are consuming power from solar energy sources due to the low maintenance cost, environment friendliness, and high state tax credits associated with them.

Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/solarencapsulation-market/report-sample Moreover, the advent of the thin-film solar cell technology has encouraged the integration of solar encapsulants in solar modules. Traditionally, the crystalline silicon solar technology has been used in PV modules. Nowadays, the thin-film technology is being preferred over the crystalline silicon technology due to the high manufacturing cost and fragile nature of solar modules based on the latter.

Thin-film-based modules are available at a low cost, and they are flexible, owing to which individuals and organizations are deploying them in abundance.

Solar encapsulant manufacturers, such as Hangzhou First Applied Material Co. Ltd., E.I. du Pont de Nemours and Company, Saint-Gobain S.A., The 3M Company, Sveck, EVASA, ISOVOLTAIC AG, RenewSys India Pvt. Ltd., Mitsui Chemicals Inc., STR Holdings Inc., and Eastman Chemical Company, use polyvinyl butyral (PVB), polyolefin elastomer, polydimethylsiloxane (PDMS), ethylene vinyl acetate (EVA), thermoplastic polyurethane (TPU), and ionomers to manufacture solar encapsulants. In recent years, manufacturers have preferred EVA over other materials due to its excellent toughness and elasticity, strong protection against delamination and corrosion, and high strength.

Nowadays, solar encapsulant manufacturers are engaging in product launches and facility expansions through hefty investments, to meet the requirements of a wider customer base. For example, in July 2016, Suzhou Zhongkang Power invested $150.57 million for constructing three PV power stations with a combined capacity of 110 MW. Furthermore, in June 2017, RenewSys India Pvt.

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Ltd. introduced five Bus Bar (BB) solar PV cells, which provide lower resistance and increase the overall module performance.

Globally, Asia-Pacific (APAC) dominated the solar encapsulant market in the preceding years, and it is expected to retain its dominance in the forthcoming years. This can be owed to the surging production of solar modules by the leading manufacturers in the region. Additionally, the increasing presence of solar module manufacturers in China, owing to the price inflation of solar products in Europe, augments the production of solar encapsulants here.

Moreover, the increasing implementation of favorable government policies on solar energy will boost the usage of solar encapsulants in solar cells in APAC. Browse full report at: https://www.psmarketresearch.com/marketanalysis/solar-encapsulation-market Therefore, the rising government support toward solar energy and mounting public awareness on the solar cell technology will fuel the adoption of solar encapsulants globally.

GLOBAL SOLAR ENCAPSULANT MARKET •

By Material – Ethylene vinyl acetate (EVA), Polyvinyl butyral (PVB), Polyolefin elastomer, and Others (Thermoplastic Polyurethane [TPU], Ionomers, and Polydimethylsiloxane [PDMS])

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By Technology – Crystalline Silicon Solar Technology and Thin-film Solar Technology (Cadmium Telluride [CdTe], Copper Indium Gallium Selenide [CIGS], and Amorphous silicon [a-Si])

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By Application – Construction, Electronics, Automotive, and Others (Aerospace and Defence)

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By Region – North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA)

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