LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global solar encapsulation market and the market is poised to grow by USD 854.9 million during 2019-2023 at a CAGR of over 10% during the forecast period. Request Free Sample Pages
Read the 119-page research report with TOC on "Solar Encapsulation Market Analysis Report by Application (Crystalline silicon PV module and Thin film PV module), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023".
The market is driven by the declining cost of solar power generation. In addition, the growing adoption of polyolefin encapsulants is anticipated to further boost the growth of the solar encapsulation market.
The increase in competitive bidding processes and government initiatives and subsidies have led to a decline in the cost of solar energy generation. This has led to an increase in the number of solar PV panel installations across the globe. In addition, the demand for solar PV panels is increasing in countries such as India, China, and the US due to the rising demand for clean and sustainable energy. This is driving the need for solar encapsulation that is extensively used in solar cells in the PV module. Thus, the declining cost of solar power generation is expected to drive market growth during the forecast period.
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Major Five Solar Encapsulation Market Companies:
3M Co. is headquartered in the US and operates the business under various business segments such as Industrial, Safety and Graphics, Health Care, Electronics and Energy, Consumer, and Corporate and unallocated. The company offers products such as 3M Solar Encapsulant Film EVA9100-EVA Encapsulant for PV modules.
Arkema Group is headquartered in France and offers products through the following business units: High Performance Materials, Industrial Specialties, Coating Solutions, and Corporate. The company offers products such as Evatane and Apolhya Solar.
E. I. du Pont de Nemours and Co.
E. I. du Pont de Nemours and Co. is headquartered in the US and operates under the business segment: DuPont. The company offers products such as silicone material-based encapsulants and other products.
HANGZHOU FIRST APPLIED MATERIAL Co. Ltd.
HANGZHOU FIRST APPLIED MATERIAL Co. Ltd. is headquartered in China and offers products through the following business segments: EVA film for PV module and PO film for PV module.
PO film for PV module
PO film for PV module is headquartered in the US and offers products through the following business segments: Standard-Cure Formulations, Fast-Cure Formulations, Ultra-Fast Cure Formulations, and Mega-Fast Cure Formulations.
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Solar Encapsulation Application Outlook (Revenue, USD Million, 2019 - 2023)
- Crystalline silicon PV module
- Thin film PV module
Solar Encapsulation Regional Outlook (Revenue, USD Million, 2019 - 2023)
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