The Solar Encapsulation Global Market Report 2023 by The Business Research Company, provides solar encapsulation market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Solar Encapsulation Global Market Report 2023, the market size will grow from $2.68 billion in 2022 to $3.34 billion in 2023 at a compound annual growth rate (CAGR) of 24.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global solar encapsulation is expected to grow to $8.04 billion in 2027 at a CAGR of 24.6%.
The rising demand for rooftop photovoltaics (PV) installations in developing economies is driving the growth of the solar encapsulation market. A PV system is an electric power system designed to supply usable solar power through photovoltaics (PV) and consists of an arrangement of components including solar panels to absorb and convert sunlight into electricity. Due to the growing environmental concerns and depleting conventional energy sources, there has been a substantial shift toward renewable energy sources such as solar energy and the installation of PV systems including rooftop PV installations. The demand for solar encapsulation increases in response to the rising rooftop PV installations in developing economies as solar encapsulation is a mandatory process to ensure that PVs are reliable and to enable longer life.
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The solar encapsulation market is segmented:
1) By Material: Non-Ethylene Vinyl Acetate, UV Curable Resin, Other Materials
2) By Solar Module: Polycrystalline Silicon Cells, Cadmium Telluride, Amorphous Silicon Cells, Other Solar Modules
3) By Application: Automotive, Electronics, Other Applications
Technology advancement is a key trend gaining popularity in the solar encapsulation market. Major players in the market are focusing on launching and implementing advanced encapsulation technology for solar modules. The advanced encapsulation technologies replace the gaps between solar cells and improve the efficiency of PV modules while incorporating modular designs. By the use of advanced encapsulation technologies, companies can increase their business and gain a competitive edge in the market. For instance, in May 2022, JA Solar Holdings, a China-based solar development company, launched DeepBlue 4.0 X, a new n-type PV module that uses specially designed encapsulation materials and patented GFI (Gapless Flexible Interconnection) high-density module encapsulation technology to deal with mechanical stress at cell interconnections and lower the danger of microcracking.
The solar encapsulation market report table of contents includes:
1. Executive Summary
2. Solar Encapsulation Market Characteristics
3. Solar Encapsulation Market Trends And Strategies
4. Solar Encapsulation Market – Macro Economic Scenario
5. Solar Encapsulation Market Size And Growth
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26. Africa Solar Encapsulation Market
27. Solar Encapsulation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Solar Encapsulation Market
29. Solar Encapsulation Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- 3M Company
- Akcome
- STR Holding Inc
- Dow Inc.
- Dupont De Nemours Inc
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