The Global Market for Solar Encapsulation Materials is Projected to Reach US$1.8 Billion by 2020

Increasing Focus on Durability of Solar Modules Drives Demand for Solar Encapsulation Materials, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Solar Encapsulation Materials market. The global market for Solar Encapsulation Materials is projected to reach US$1.8 billion by 2020, driven by growing energy demand, increasing solar installations, widening applications of PV modules, and encapsulation material advances. 

Solar power has emerged as a viable alternative to conventional, non-renewable resources for producing power, given the abundance of solar energy as a resource and its minimal impact on climate and environment. The photovoltaic industry is a major benefactor of the growing interest in solar power, with large scale solar parks mushrooming in advanced and developing countries, propelled by favorable regulatory environment, government subsidies, and falling PV module prices. Solar encapsulation materials or encapsulants refer to materials used to provide protection against corrosion and delamination in addition to enhancing durability of solar cell modules. Encapsulants are critical to long-term performance of modules as they prevent detrimental effects of harsh environmental factors on solar cells and hence contribute to extending their useful life.

Ethylene vinyl acetate (EVA) represents the leading encapsulation material used in solar modules. The significant share of EVA is backed by its lower prices and technical features such as elasticity, high melt fluidity, adhesive property and low processing temperature. However, with growing popularity of high-efficiency and thin film cells, the need for alternative materials is on the rise. Several alternative encapsulation materials including rubbers have been developed, which are in various stages of product cycle. Of these, Polyvinyl Butyral (PVB) emerged as the most popular alternative to EVA, with significant adoption in fabrication of thin-film PV modules. Ionomer-based encapsulants are a new generation of encapsulants that feature several design, productivity and performance advantages for a wide range of solar technologies. Despite benefits such as high transmissive capabilities over EVA and PID reduction, ionomer encapsulants are employed in niche applications.

As stated by the new market research report on Solar Encapsulation Materials, Asia-Pacific represents the largest market worldwide. Increasing demand for solar power driven by support from various governments and concentration of global solar power production in the region, particularly China, are spurring demand for solar encapsulation materials. Latin America ranks as the fastest growing market with a CAGR of 39.8% over the analysis period.

Major players covered in the report include 3M Company, Arkema Group, Bridgestone Corporation, dnpSolar, E. I. du Pont De Nemours and Company, Encapsulantes de Valor Añadido S.A., Hangzhou First PV Material Co., Ltd., ISOVOLTAIC AG, Kuraray Co., Ltd., Lucent CleanEnergy, Mitsubishi Plastics, Inc., Mitsui Chemicals Tohcello, Inc., Renewsys India Private Ltd., STR Holdings, Inc., The Dow Chemical Company, TPI All Seasons Company Limited, Wacker Chemie AG, and Wuxi Fuhua Plastic Industry Co., Ltd. among others.

The research report titled “Solar Encapsulation Materials: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of global market trends and issues, growth drivers, company profiles, mergers and acquisitions, and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets, such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Chile and Rest of Latin America) and Rest of World.

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