Solar Encapsulant Film Market Introduction
· Solar encapsulant is a thin film sheet that protects solar cells or modules from external moisture, dust, and air. It provides optical and electrical transmissivity to solar modules. An emerging technology in the solar encapsulant market is the thin solar film cell technology. Photovoltaic is an extensively used solar cell technology. It directly converts sunlight to electrical energy through a device called solar cell. Solar encapsulating materials are employed to provide a bond between the top and the back surfaces of the photovoltaic module from high temperature, moisture, and external stress. Demand for photovoltaic modules is increasing due to their benefits such as economic viability, environmental sustainability, and clean green energy.
· The global solar encapsulant film market can be segmented based on material, technology, application, and region. In terms of material, the solar encapsulant film market can be classified into ethylene vinyl acetate (EVA), polyvinyl butyral (PVB), polyolefin elastomer, and others. The EVA segment is projected to expand at a rapid pace during the forecast period. EVA provides superior elasticity, toughness, and adhesive strength, and protection against corrosion and delamination; therefore, it is extensively used for the production of solar cells.
· Based on technology, the solar encapsulant film market can be categorized into silicon solar films and thin solar films. The thin solar film technology is further subdivided into cadmium telluride (CdTe), copper indium gallium selenide (CIGS), and amorphous silicon (a-Si). Mass production of solar cells is economical through the thin solar film cell technology. The thin solar film segment is projected to expand at a considerable pace during the forecast period. Increase in demand for solar cells is expected to drive the thin solar films segment during the forecast period.
· In terms of application, the solar encapsulant film market can be divided into automotive, construction, electronics, and others. The construction segment is projected to expand at a substantial pace during the forecast period. Construction is expected to be a major application of solar encapsulant films during the forecast period owing to the high demand for photovoltaic modules in residential and commercial sectors.
Key Drivers of Solar Encapsulant Film Market
· Rise in demand for rooftop photovoltaic modules and increase in awareness about the advantages of solar cell technology are driving the solar encapsulant film market
Restraints of Solar Encapsulant Film Market
· Despite the potential economic advantages associated with solar encapsulant films, there are several drawbacks that are projected to restrain the overall development of the global market. High production cost of building crystalline silicon solar modules has led to the need for cost-efficient solar module production technologies. Thus, manufacturers are focusing on developing inexpensive and improved technologies for solar module production.
· Degradation of solar encapsulating material reduces its efficiency in protecting the solar module. Exposure of encapsulant materials, such as ethylene vinyl acetate and polyolefin elastomer, to moisture and corrosion results in browning and deterioration of these materials. Hence, degradation of solar encapsulating materials is likely to hinder the solar encapsulant film market.
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COVID-19 impact on Solar Encapsulant Film Market
· The COVID-19 outbreak is hampering the demand for solar encapsulant films in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this has led to a decline in in demand for solar encapsulant films across the globe.
· Key players operating in the solar encapsulant film market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers have spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these films.
Asia Pacific to be Rapidly Expanding Region of Global Solar Encapsulant Film Market
· Based on region, the global solar encapsulant film market can be segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Asia Pacific is expected to continue to dominate the global solar encapsulant film market during the forecast period. Increase in population in the region is fueling the demand for residential and industrial construction in countries such as India and China.
· Rise in efforts of solar material manufacturers to expand their solar production capacity is likely to boost the solar encapsulant film market in the region during the forecast period
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