IMARC Group, a leading market research company, has recently releases report titled “Solar Encapsulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global solar encapsulation market share, size, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Solar Encapsulation
Solar encapsulation is the process of enclosing and protecting photovoltaic (PV) solar cells and modules using specialized materials to enhance their durability and performance. It involves sealing solar cells within transparent and semi-transparent materials to shield them from environmental factors like rain, snow, dust, and pollutants and aids in extending the lifespan of solar panels. It minimizes the risk of electric shock by insulating the conductive parts. It is widely used in residential solar panels to protect and maintain the efficiency of the PV cells on rooftops. Besides this, it helps safeguard solar panels in agricultural settings, where dust, debris, and extreme weather conditions can pose challenges.
How Big Is the Solar Encapsulation Market?
The global solar encapsulation market size reached US$ 2,371 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,514 Million by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.
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What are the growth prospects and trends in the solar encapsulation industry?
The growing global demand for clean energy sources, coupled with government incentives, is leading to a significant increase in solar energy installations, which, in turn, is driving the demand for solar encapsulation. Additionally, the rising focus of solar panel manufacturers on cost reduction is driving innovations in encapsulation materials and processes, making solar energy more affordable to consumers.
Furthermore, stringent environmental regulations in various countries are driving the need for sustainable and eco-friendly encapsulation materials that minimize the environmental impact of solar panel manufacturing.
Moreover, ongoing research and development (R&D) efforts are leading to the development of advanced encapsulation materials and techniques that enhance the performance and longevity of solar panels.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
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.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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