Solar modules manufacturers are struggling to ensure enhance the characteristics of PV modules from harsh outdoor environments. Good quality solar encapsulants provide excellent durability and protection to the modules from delamination and corrosion. Rising demand for solar PVs is directly influencing the demand in the global solar encapsulation market as well. Access to on-demand resource provisioning coupled with in-house data security drives the hybrid cloud market, which enables organizations to save costs on IT infrastructure. Emerging regions like Asia are also creating strong growth prospects for the industry in the coming future.
Scope of Research – Segments
Basic segmentation in the global solar encapsulation market is based on the types of materials user as encapsulants, their applications and technologies. Demand from different geographic regions is also taken into consideration while studying the market trends and forecasting reports for the market. Following are the details of the sub-segmentation in the industry:
- Materials: Polyvinyl butyral, ethylene vinyl acetate, ionomer, polydimethylsiloxane, polyolefin and polyurethane
- Applications: Electronics, construction, automotive, and others
- Technologies: Thin film solar technology and single crystal/polycrystalline silicon solar
- Geography: Asia, Europe, North America, and rest of the world
Solar encapsulants are commonly used in construction, electronics and automotive applications. Their quality of providing strength to the solar PVs is a vital advantage for the global solar encapsulation market. Exponential rise in demand for electricity on global platform is also a driving factor for the market. Rising demand for solar panels and expected cost cutting in solar technology developments are contributing to the current market conditions. Favorable demand from emerging markets, especially, Asia is also a strong driver for the global industry. Asia is coming across to be the strongest market for the solar encapsulants.
Latest market research reports for the global solar encapsulation market state that the industry is poised to grow at a projected CAGR of over 10% from 2013 to 2018. At the estimated growth rate, the market will grow on to become worth more than $1.3 billion by 2018. In 2012, the market was worth $762.1 million. During the forecasting period, Asia Pacific region, especially the countries like China, India, and Japan will emerge are the bustling marketplaces with potential opportunities for growth and revenue. Within the applications industry, construction is expected to dominate the global market. large scale developments in the global construction industry will provide potential growth prospects for the solar encapsulation market.