Solar Encapsulation Market Report by Material (Ethylene Vinyl Acetate, Non-Ethylene Vinyl Acetate, UV Curable Resins), Technology (Single-crystal/Polycrystalline Silicon Solar Technology, Thin-film Solar Technology), Application (Construction, Electronics, Automotive, and Others), and Region 2024-2032

Solar Encapsulation Market Report by Material (Ethylene Vinyl Acetate, Non-Ethylene Vinyl Acetate, UV Curable Resins), Technology (Single-crystal/Polycrystalline Silicon Solar Technology, Thin-film Solar Technology), Application (Construction, Electronics, Automotive, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A4988
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Market Overview:

The global solar encapsulation market size reached US$ 2,701.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 7,802.7 Million by 2032, exhibiting a growth rate (CAGR) of 12.3% during 2024-2032.

Report Attribute                                                            
 Key Statistics                   
Base Year
2023 
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 2,701.0 Million
Market Forecast in 2032 US$ 7,802.7 Million
Market Growth Rate (2024-2032) 12.3%


Solar encapsulation refers to the technique used to protect solar panels and equipment against degradation due to various external and environmental factors. It involves encapsulating photovoltaic (PV) cells with a polymeric material, generally ethylene vinyl acetate (EVA) film. It helps extend the life of solar cells, mitigate stability issues, and offer protection against corrosion and ultraviolet (UV) radiation, low mechanical stress, and temperature changes. It also assists in providing adhesion between the solar cells, the top surface, and the rear surface of the PV module. In recent years, solar encapsulation has gained immense popularity as it aids in enhancing the performance, efficiency, durability, and cost-effectiveness of PV modules.

Global Solar Encapsulation Market

Solar Encapsulation Market Trends:

The widespread adoption of solar panels and the escalating demand for electricity across the globe represent the primary factors driving the market growth. Additionally, there has been a substantial shift toward renewable energy sources due to the growing environmental concerns and depleting conventional energy sources. Along with this, the increasing private and public investments to modernize the existing infrastructure are catalyzing the market growth. Besides this, the development of low-cost encapsulant materials, such as cadmium telluride and amorphous silicon cells, and non-EVA-based encapsulations, including thermoplastic polyurethane (TPU) and polyvinyl butyral (PVB), are augmenting the product demand. Moreover, the implementation of favorable policies and subsidies on the installation of solar panels by governments of various countries is propelling the market growth. As a result, the leading manufacturers are developing new encapsulants for emerging PV technologies. Other factors, including the growing need to reduce carbon footprint, rapid urbanization, technological advancements, and emerging solar energy applications for power generation, are creating a positive outlook for the market.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global solar encapsulation market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on material, technology and application.

Breakup by Material:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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

Breakup by Technology:

  • Single-crystal/Polycrystalline Silicon Solar Technology
  • Thin-film Solar Technology
    • Cadmium Telluride (CdTe)
    • Copper Indium Gallium Selenide (CIGS)
    • Amorphous Silicon (a-Si)
       

Breakup by Application:

  • Construction
  • Electronics
  • Automotive
  • Others
     

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Bridgestone Corporation, dnpSolar, Dow Inc., Dupont De Nemours Inc., Eastman Chemical Company, First Solar Inc., Kuraray Co. Ltd., Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals Inc., RenewSys India Pvt. Ltd. and STR Holdings Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Material, Technology, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 3M Company, Bridgestone Corporation, dnpSolar, Dow Inc., Dupont De Nemours Inc., Eastman Chemical Company, First Solar Inc., Kuraray Co. Ltd., Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals Inc., RenewSys India Pvt. Ltd. and STR Holdings Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global solar encapsulation market was valued at US$ 2,701.0 Million in 2023.

We expect the global solar encapsulation market to exhibit a CAGR of 12.3% during 2024-2032.

The rising adoption of solar energy for power generation, along with the growing use of solar
encapsulation technique to protect solar equipment against environmental degradation, is primarily driving the global solar encapsulation market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units for the components of solar encapsulation.

Based on the material, the global solar encapsulation market has been segmented into ethylene vinyl acetate, non-ethylene vinyl acetate, and UV curable resins. Among these, ethylene vinyl acetate currently represents the largest market share.

Based on the technology, the global solar encapsulation market can be bifurcated into single- crystal/polycrystalline silicon solar technology and thin-film solar technology. Currently, single- crystal/polycrystalline silicon solar technology accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.

Some of the major players in the global solar encapsulation market include 3M Company,
Bridgestone Corporation, dnpSolar, Dow Inc., Dupont De Nemours Inc., Eastman Chemical Company, First Solar Inc., Kuraray Co. Ltd., Mitsubishi Chemical Holdings Corporation, Mitsui Chemicals Inc., RenewSys India Pvt. Ltd., and STR Holdings Inc.

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Solar Encapsulation Market Report by Material (Ethylene Vinyl Acetate, Non-Ethylene Vinyl Acetate, UV Curable Resins), Technology (Single-crystal/Polycrystalline Silicon Solar Technology, Thin-film Solar Technology), Application (Construction, Electronics, Automotive, and Others), and Region 2024-2032
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