Solar PV Backsheet Market to grow by USD 1.50 billion from 2022 to 2027, The increasing use of thin-film solar PV modules to boost growth - Technavio
NEW YORK, Feb. 7, 2024 /PRNewswire/ -- The solar PV backsheet market is expected to grow by USD 1.50 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 10.75% during forecast period. The increasing use of thin-film solar PV modules is a key factor driving market growth.
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Thin-film solar PV modules are increasingly used in building-integrated photovoltaics (BIPVs) due to their flexibility. BIPV systems maximize solar panel surface area for high power production. They can be installed on rooftops, as floor tiles, and on building sides. Backsheets are crucial for thin-film modules, replacing traditional glass modules. They require high cell efficiency, improved dielectric strength, reflectance, durability, and the ability to conform to uneven structures for flexibility and high vapor barrier efficiency.
The solar PV backsheet market is fragmented due to presence of many global and regional players. The market comprises category-focused, industry-focused, and diversified companies. The market is expected to grow rapidly during the forecast period due to the Increasing use of thin-film solar PV modules. Hence, the competition among companies is expected to intensify during the forecast. The report analyzes the market's competitive landscape and offers information on several market companies. 3M Co., Agfa Gevaert NV, Arkema Group, COVEME Spa, Cybrid Technologies Inc., DUNMORE Corp., DuPont de Nemours Inc., FLEXcon Co. Inc., Honeywell International Inc., Jiangsu Zhongtian Technology Co Ltd, Jolywood (Suzhou) Sunwatt Co Ltd, Koninklijke DSM NV, KREMPEL GmbH, Mitsubishi Corp., Nippon Light Metal Holdings Co. Ltd., Targray Technology International Inc., Tomark Worthen LLC, Toppan Printing Co Ltd, Toray Industries Inc., and Toyobo Co. Ltd.
3M Co. - The company offers solar PV backsheet which are engineered using an innovative fluoropolymer technology backed by rigorous testing and years of performance in the field to give your modules more protection from the elements.
Agfa Gevaert NV - The company offers solar PV backsheet which are developed with latest technology.
The market share growth by the fluoropolymer segment will be significant during the forecast period. The growth in this type of solar PV backsheets is attributed to the use of fluorine-based films in one or both outer layers. Manufacturers have several options of fluoropolymer-based protective films. This segment dominates as manufacturers initially had only Tedlar as an option, known for long-term performance and reliability in various climates. Other fluoropolymer-based alternatives to Tedlar are emerging.
APAC is estimated to contribute 66% to the growth of the global market during the forecast period. Pollution from greenhouse gas emissions in China and India drives a shift to renewables like wind and solar energy. Regional initiatives focus on replacing fossil fuels with solar power. Government targets for solar-powered plants will drive market growth in APAC's residential and commercial sectors. Japan aims for 22%-24% renewable power by 2030, intensifying solar PV installations and boosting module demand.
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Imperative Insights on the following aspects:
- What was the size of the global solar PV backsheet market by value?
- What will be the size of the global solar PV backsheet market in 2027?
- How has industry perform over last 5 years?
- What factor are affecting the strength of competition in the global market?
- What main segments make up the global solar PV backsheet market?
Solar PV Backsheet Technology
Solar PV backsheets are essential components of solar modules, providing crucial protection and insulation for photovoltaic cells. These backsheets play a key role in enhancing the durability and performance of solar panels in various environmental conditions. They protect the solar cells from moisture, UV radiation, and mechanical damage, ensuring the long-term reliability of solar modules. As a part of PV solar technology, backsheets contribute to the efficient conversion of sunlight into electricity, supporting renewable energy materials in clean energy solutions. Backsheet manufacturers focus on developing advanced materials to improve the efficiency and lifespan of solar panels, contributing to the growth of the photovoltaic industry and solar energy production.
Related Reports:
The Solar PV Balance Of Systems (BOS) Market size is forecasted to increase by USD 32.33 billion with a growth at a CAGR of 19.22% between 2023 and 2028.
The single axis solar photovoltaic (PV) tracker market size is estimated to grow at a CAGR of 19.07% between 2024 and 2028. The market size is forecast to increase by USD 10,718.63 million.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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