Solar Encapsulation Market to Hit USD 7.12 Bn. by 2029 Renewable Energy Sources, Sustainability and Growth Opportunities

December 07 02:24 2022
Solar Encapsulation Market to Hit USD 7.12 Bn. by 2029 Renewable Energy Sources, Sustainability and Growth Opportunities
Solar Encapsulation Market
Solar Encapsulation Market size was valued at USD 1.73 Bn. in 2021 and the total revenue is expected to grow by 19.34% from 2022 to 2029, reaching nearly USD 7.12 Bn.

Pune, 6, Dec2022: Maximize Market Research is a leading energy and power research firm that delivers a detailed analysis of the Solar Encapsulation Market The business intelligence report includes key insights, demand analysis, pricing analysis and competitive landscape. The report expects the market to grow from USD 1.73 billion in 2021 to USD 7.12 Billion by 2029 at a CAGR of 19.34 percent during the forecast period from 2022 to 2029. 

Solar Encapsulation Market Scope and Research Methodology

The report is an in-depth analysis of all the key players in the Solar Encapsulation Market by market share, revenue, market penetration, financial status and region. Current trends prevailing in the Solar Encapsulation Market are presented and historical data is used to forecast growth rate fluctuations to equip stakeholders, investors, market key players and followers about future market conditions. The Solar Encapsulation Market is segmented by Type, Technology, Application and Region for a detailed analysis for understanding the market penetration, competitive structure, pricing and demand analysis. The report aids the formulation of strategic decision-making and finding investment pockets for businesses.

For the competitive landscape, major players and new entrants in the Solar Encapsulation Market are collated based on the revenue, portfolio, technological advancements adopted, social media presence, mergers and acquisitions, joint ventures and strategic alliances. With each company profile, recommendations are provided on investments and estimations of their market size for the forecast period. New entrants can use the report to understand the future course of the Solar Encapsulation Market.

The bottom-up approach was employed to validate the market size and its estimation by different segments. Data was collected using both primary and secondary data collection methods for the analysis. Methods such as surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, marketing professionals, customers and retailers on the demand side and manufacturers, and wholesalers on the supply side were included in the primary methods. Secondary data was methodically collected from a curated selection of sources to ensure the reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to provide the strengths and weaknesses of the Solar Encapsulation Market while PESTLE was employed to understand the potential impact of the macro-economic, social, political and technological factors affecting the Solar Encapsulation Market.

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Solar Encapsulation Market Overview

Sola encapsulation is an important component of producing a solar cell. Encapsulation is the process of mounting a polymer to pass as much sunlight as possible while avoiding harmful UV rays. The need for encapsulation arises because a single solar cell is not powerful enough to meet conventional energy requirements. A good encapsulation increases the output power of solar cells. It also increases the durability and stability of solar cells.

Solar Encapsulation Market Dynamics

Concerns over environmental degradation have been rising. Efforts are being taken to reduce carbon footprint by shifting towards renewable sources of energy. Solar, wind and other renewable sources are slowly growing in the market as unconventional alternatives to traditional generation. This shift is expected to increase demand for the solar encapsulation market.

Increasing demand for energy while maintaining sustainability is expected to increase demand for the Solar Encapsulation Market. Resources are depleting while the need for energy is on the rise. Given this scenario, many major organisations and companies are investing in alternative sources of energy. This is expected to drive the solar encapsulation market growth for the forecast period.

Solar Encapsulation Market Regional Insights

The North American region is expected to witness growth during the forecast period. This growth is due to the rapid adoption of alternative sources of energy. The regional growth is also attributed to the growth of electric vehicles. The increase in self-charging vehicles coupled with rising gas prices is driving the regional Solar Encapsulation Market growth.

The Asia-Pacific region is expected to have the fastest growth over the forecast period. This growth is associated with the shift of module manufacturers from Europe to Asia given the low labour costs. This shift is expected to increase the Solar Encapsulation Market’s regional demand.

Solar Encapsulation Market Segmentation: 

By Type: 

  • Ethylene Vinyl Acetate
  • Non-Ethylene Vinyl Acetate
  • UV Curable Resins

By Technology: 

  • Crystalline Silicon Technology
  • Thin-Film Technology
  • Other

By Application: 

  • Construction
  • Electronics
  • Automobile
  • Others

Solar Encapsulation Market Key Competitors include: 

  • STR Holdings Inc.
  • Hangzhou First PV Material Co. Ltd.
  • Solutia
  • Bridgestone
  • Dow Corning
  • DuPont
  • Jura-plast
  • Trosifol.
  • Wacker Chemie
  • 3M Company, Ltd.
  • Mitsui Chemicals Tohcello Inc.
  • First Solar Inc.
  • STR Holdings.
  • Changzhou Sveck Technology Co. Ltd.
  • RenewSys India Pvt. Ltd.
  • Encapsulantes de Valor Añadido S.A.
  • E.I. du Pont de Nemours and Company
  • Jiangsu Akcome Science & Technology Co. Ltd.
  • Saint-Gobain S.A.
  • ISOVOLTAIC AG
  • Eastman Chemical Company

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Key questions answered in the Solar Encapsulation Market are: 

  • What is Solar Encapsulation? 
  • What is the current growth rate of the Solar Encapsulation Market?  
  • What is the growth rate of Solar Encapsulation Market for the forecast period? 
  • What is the nature of competition in Solar Encapsulation industry in developed and developing economies? 
  • Who are the key players in the Solar Encapsulation Market?
  • Who are the market leaders in Solar Encapsulation in Europe?
  • Who are the market leaders in Solar Encapsulation in USA and Canada?
  • Who are the market leaders in Solar Encapsulation in India, China, Japan and South Korea?
  • What are the factors affecting growth in the Solar Encapsulation Market? 
  • Who held the largest market share in Solar Encapsulation Market? 
  • What are the factors for the growth of Asia-Pacific region in Solar Encapsulation Market?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Type, Technology, Application and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading energy and power research firm, has also published the following reports:

Solar Thermal MarketThe Solar Thermal Market size is expected to reach USD 30.92 billion by 2029 at a CAGR of 5.29 percent during the forecast period. The Solar Thermal Market is expected to be driven by rapid technological advancements and increased investment in the industry. 

Residential Solar (PV) Inverter MarketThe Residential Solar (PV) Inverter Market size is expected to reach USD 6.41 billion by 2029 at a CAGR of 4.3 percent during the forecast period. The Residential Solar (PV) Inverter Market is expected to be driven by increasing government initiatives and huge investments in the industry. 

Solar Battery MarketThe Solar Battery Market size is expected to reach USD 509.53 million by 2029 at a CAGR of 16 percent during the forecast period. The Solar Battery Market is expected to be driven by shortage of coal and natural gas and stringent government regulations on carbon emissions. 

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