Solar Encapsulation Market Size 2015 – 2023
The market for sustainable energy generation is projected to grow at an accelerated rate in coming years. This growth is owing to the depleting conventional resources, environmental concerns and increasing power demand. The solar encapsulation‘s market is directly related to solar energy’s market, hence it is anticipated to expand. Solar encapsulation are vital for providing protection to the solar equipment. There are no major substitute available for solar encapsulation, hence it has the perks of being monopoly product in terms of solar protective equipment.
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The solar encapsulation can be defined as the process of providing protection to the solar panels and equipment. These solar equipment are prone to physical and environmental threats due to their open field locations. The cost of production and installation of solar cells and equipment are high. Thus they need protection in the form of solar encapsulation. The key advantages presented by solar encapsulation equipment are good insulation, light transmission, mechanical resistance, adhesion property and excellent long term performance, among others.The solar encapsulation’s market is segmented on the basis of technology used as thin film solar, single crystal and polycrystalline silicon technology. It can also be segmented on the basis of materials used as Ethylene Vinyl Acetate (EVA), Polyvinyl Butyral (PVB), Polydimethylsiloxane (PDMS), Ionomer, Thermoplastic Polyurethane (TPU) and Polyolefin. On basis of material, the PV material has major share as it is currently being used in many solar encapsulation.
The market can also be segmented on the basis of end user. The three major sectors in the end user of solar encapsulation are construction, electronics and automobile. The construction sector is the major revenue generator for solar encapsulation. The increasing population has led to growth of construction market. Most of the builders are trying to equip their construction projects with modern equipment and comforts.These factors have accelerated the number of installations for solar encapsulation. However, the high expense ofsolar energy generation equipment act as hindrance. The solar industry is using research and development as a key to remove this limitation. The market is expected to have some technological innovation in future.
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The feed in tariff policy, providing tax benefits to the sustainable solution user, has been launched in more than 40 countries all over the world. This scheme along with the initiatives taken by the governments to reduce carbon footprint have acted as major driver for solar energy related equipment’s market. Asia Pacific, North America and Europe have the major share in solar encapsulation installation currently.Germany and China are the major countries to generate electricity through solar technology. These countries followed by developing economies such as India, are considered as Attractive market for solar encapsulation.
Some of the key players in the solar encapsulation markets are Bridgestone Corporation, Cambiosolar, Dai Nippon Printing Co Ltd., Dow Corning Corporation, Evasa, First Solar Gmbh, Hangzhou First Pv Material Co., Ltd, Isovoltaic Ag, Kuraray Europe Gmbh, Mitsubishi Plastics Inc., and Mitsui Chemicals Tohcello Inc., among others.
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This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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