Solar Encapsulation Market by Material Type, Technology, Installation Type, End-Use

List of Tables

[186 Pages Report] The Solar Encapsulation Market size was estimated at USD 5.05 billion in 2023 and expected to reach USD 5.41 billion in 2024, at a CAGR 7.67% to reach USD 8.48 billion by 2030.

Solar encapsulation refers to the process of enclosing or sealing photovoltaic (PV) solar cells within a protective laminate to ensure robust protection against environmental factors such as moisture, UV radiation, and mechanical stress. Encapsulation materials are made from ethylene-vinyl acetate (EVA), polyolefin elastomer (POE), or thermoplastic polyurethane (TPU), chosen for their adhesive properties, clarity, and resistance to potential chemical and physical degradation over extended periods. The encapsulant ensures the preservation of electrical performance by providing insulation and maintaining solid electrical connections between cells. Solar encapsulation prevents corrosion of the cells by creating a barrier against oxygen and water ingress. Additionally, the flexibility of the encapsulant promotes the dissipation of thermal stresses, which further contributes to the overall service life of the solar panels. The increase in solar energy installations and government policies for promoting renewable energy use are expanding the scope of the solar encapsulation market worldwide. However, high costs associated with developing and producing advanced encapsulation materials and issues related to the recycling and disposal of solar panels can affect the penetration of solar encapsulation. Nevertheless, developing new encapsulation materials and innovations in solar modules compatible with flexible and lightweight encapsulants are expected to drive the demand for the solar encapsulation market in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 5.05 billion
Estimated Year [2024]	USD 5.41 billion
Forecast Year [2030]	USD 8.48 billion
CAGR (%)	7.67%

Regional Insights

The Americas represent a significant market for solar encapsulation materials, owing to robust government initiatives and renewable energy mandates. Customer purchasing behavior shows a growing preference for sustainable energy solutions, promoting solar installations in residential, commercial, and utility sectors. In the Asia Pacific region, the massive manufacturing base and government support for photovoltaic technology have bolstered solar investments across the region. Moreover, favorable government policies and the development of new encapsulant materials to maximize the efficiency of solar panels are expanding the scope of the solar encapsulation market. The EMEA region showcases strong government commitment towards renewable energy with stringent environmental regulations and targets to drive the penetration of solar encapsulation. The Middle East has shown impressive strides in solar energy with large-scale solar projects, presenting new opportunities for encapsulation material providers. The ongoing advancements in encapsulation materials and supportive government investments for solar projects in the EMEA region are anticipated to augment the solar encapsulation market in the coming years.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Solar Encapsulation Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Ongoing shift toward renewable and sustainable energy sources
- Adoption of solar encapsulation to increase performance of solar cell
- Rising investments in building integrated solar projects

Market Restraints
- Fluctuating availability and prices of raw materials used for solar encapsulation

Market Opportunities
- Ongoing advancements in solar encapsulation technology and materials
- Supportive government investments in clean and green energy generation

Market Challenges
- Technical limitations associated with solar encapsulation solutions

Market Segmentation Analysis
- Material Type: Emerging adoption of ionomers for solar encapsulation
- Technology: Significant preference for thin-film solar technologies for solar encapsulation
- Installation Type: Growing investments for solar encapsulation across floating solar projects
- End-Use: Penetration of solar encapsulation materials in commercial settings

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Solar Encapsulation Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Solar Encapsulation Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Trio Partners to Commercialize Encapsulation on Perovskite Solar Cells

Verde Technologies Inc., a specialist in perovskite thin-film solar solutions, forged a strategic alliance with Northern Illinois University (NIU) and the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) to advance the commercial deployment of cutting-edge perovskite solar cells. Through this collaboration, Verde and NIU aim to benefit from an exclusive arrangement, tapping into a suite of perovskite solar technology patents held by NREL. [Published On: 2023-08-29]

Alishan Green Energy, the First in India to Launch Coated Backsheet: A Game-Changing Solution for Solar Module Encapsulation

Alishan Green Energy is revolutionizing the solar industry with its latest addition, the Alishan BackPro back sheets-a pioneering range of photovoltaic cell encapsulants that integrates fluoro and non-fluoro options. Crafted at Alishan's manufacturing base in Raipur, these back sheets benefit from a unique proprietary coating that significantly increases their performance and durability. The innovative multiple-layer composition of Alishan BackPro yields extraordinary electrical insulation, moisture barrier properties, and resistance against mechanical stress and partial electrical discharges-a testament to their unwavering adherence to top-tier quality and customer satisfaction. [Published On: 2023-08-23]

Navitas Solar Subsidiary Navitas Alpha Renewables Secured INR 70 Million Seed Funding To Expand Capacity

Navitas Alpha Renewables Private Limited (NARPL), an Indian manufacturer specializing in Solar EVA encapsulant films, secured a seed investment of INR 70 million from investors such as Niveshaay, along with notable individual investors including Madhusudan Sarda and firms like IVY Growth Associates. Dedicated to elevating its market stance, the company plans to utilize this fresh infusion of capital to enhance testing facilities, bolster R&D efforts, and expand production capacity, although specific details on the expansion were not disclosed. [Published On: 2022-09-22]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Solar Encapsulation Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Solar Encapsulation Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Alishan Green Energy Pvt. Ltd., Astenik Solar Inc., Borealis AG, BREYER Maschinenfabrik GmbH, China JWELL Intelligent Machinery Co.,Ltd., dnpSolar, Dunmore Corporation, ENERLITE SOLAR FILMS INDIA PVT LTD, Enrich Encap Pvt Ltd., Hangzhou First Applied Materials Co., Ltd., Heliatek GmbH, JA Solar Technology Co., Ltd., Lucent CleanEnergy, Mitsubishi Chemical Corporation, Mitsui Chemicals Group, Navitas Alpha Renewables Private Limited, RenewSys India Pvt. Ltd., Saint-Gobain S.A., Shenzhen Gaoren Electronic New Material Co. Ltd., Targray Technology International Inc., The Dow Chemical Company, USEON Technology Limited, and Vishakha Renewables Pvt. Ltd..

Market Segmentation & Coverage

This research report categorizes the Solar Encapsulation Market to forecast the revenues and analyze trends in each of the following sub-markets:

Material Type
- Ethylene Vinyl Acetate (EVA)
- lonomer
- Polydimethylsiloxane (PDMS)
- Polyolefin
- Polyvinyl Butyral (PVB)
- Thermoplastic Polyurethane (TPU)

Technology
- Crystalline Silicon Solar
- Thin-Film Solar

Installation Type
- Building-Integrated Photovoltaic
- Floating Photovoltaic
- Ground-Mounted

End-Use
- Commercial
- Residential

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-C1290E70D922

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Ongoing shift toward renewable and sustainable energy sources
  - 5.1.1.2. Adoption of solar encapsulation to increase performance of solar cell
  - 5.1.1.3. Rising investments in building integrated solar projects
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating availability and prices of raw materials used for solar encapsulation
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing advancements in solar encapsulation technology and materials
  - 5.1.3.2. Supportive government investments in clean and green energy generation
- 5.1.4. Challenges
  - 5.1.4.1. Technical limitations associated with solar encapsulation solutions
5.2. Market Segmentation Analysis
- 5.2.1. Material Type: Emerging adoption of ionomers for solar encapsulation
- 5.2.2. Technology: Significant preference for thin-film solar technologies for solar encapsulation
- 5.2.3. Installation Type: Growing investments for solar encapsulation across floating solar projects
- 5.2.4. End-Use: Penetration of solar encapsulation materials in commercial settings
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Solar Encapsulation Market, by Material Type

6.1. Introduction
6.2. Ethylene Vinyl Acetate (EVA)
6.3. lonomer
6.4. Polydimethylsiloxane (PDMS)
6.5. Polyolefin
6.6. Polyvinyl Butyral (PVB)
6.7. Thermoplastic Polyurethane (TPU)

7. Solar Encapsulation Market, by Technology

7.1. Introduction
7.2. Crystalline Silicon Solar
7.3. Thin-Film Solar

8. Solar Encapsulation Market, by Installation Type

8.1. Introduction
8.2. Building-Integrated Photovoltaic
8.3. Floating Photovoltaic
8.4. Ground-Mounted

9. Solar Encapsulation Market, by End-Use

9.1. Introduction
9.2. Commercial
9.3. Residential

10. Americas Solar Encapsulation Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Solar Encapsulation Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Solar Encapsulation Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Trio Partners to Commercialize Encapsulation on Perovskite Solar Cells
- 13.3.2. Alishan Green Energy, the First in India to Launch Coated Backsheet: A Game-Changing Solution for Solar Module Encapsulation
- 13.3.3. Navitas Solar Subsidiary Navitas Alpha Renewables Secured INR 70 Million Seed Funding To Expand Capacity
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio