Global Solar Backsheet Market to Reach US$ 4.3 Billion by 2032, Impelled by Growing Adoption of Solar Panels

March 07, 2023 | Energy & Mining

According to the latest report by IMARC Group, titled "Solar Backsheet Market Report by Type (Fluoropolymer, Non-Fluoropolymer), Installation Technique (Floating Power Plant, Ground Mounted, Roof Mounted), Thickness (Less than 100mm, 100mm-500mm, More than 500mm), Application (Utility, Industrial, Commercial, Residential), and Region 2024-2032," the global solar backsheet market size reached US$ 2.2 Billion in 2023. A solar backsheet is the outermost layer of a photovoltaic (PV) unit that is designed to protect solar PV modules. It is placed under repeated environmental and mechanical stress to aid in ensuring the overall longevity of the entire panel. It is usually manufactured using a polymer or a combination of polymers, such as and polyamide (PA), polyvinyl fluoride (PVF), polyethylene terephthalate (PET) and polyvinylidene fluoride (PVDF). With the escalating requirement for power supply across numerous industrial verticals and the growing need to decarbonize the global energy system, this is propelling overall renewable growth, further impacting the demand for solar backsheets on the global level.

Global Solar Backsheet Market Trends:

The global market is primarily driven by the growing adoption of solar panels across residential and commercial settings. This can be attributed to an enhanced focus on sustainable development and the rising preference for renewable energy sources. In line with this, numerous initiatives and funding activities conducted by the government of several countries to promote the uptake of solar panels are significantly supporting the demand for solar backsheets. In addition to this, the rapid expansion of solar power plants on account of the growing environmental concerns is creating a positive market outlook. Apart from this, numerous leading players are focusing on extensive research and development (R&D) activities to introduce improved polymers that help in increasing the reliability and durability of solar backsheets, thus impacting the market favorably. Along with this, continuous innovations in the installation techniques of solar backsheets are acting as another growth-inducing factor. Other factors, including rapid urbanization and industrialization and the rising investments in smart city initiatives, are also positively influencing the market. On account of the aforementioned factors, the market size is anticipated to reach a value of US$ 4.3 Billion by 2032, exhibiting a CAGR of 7.3% during 2024-2032.

Market Summary:

  • On the basis of the type, the market has been segmented into fluoropolymer and non-fluoropolymer.
  • Based on the installation technique, the market has been classified into floating power plant, ground mounted and roof mounted.
  • On the basis of the thickness, the market has been categorized into less than 100mm, 100mm-500mm and more than 500mm.
  • Based on the application, the market has been classified into utility, industrial, commercial and residential.
  • On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Vietnam and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Netherlands and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 3M Company, Arkema S.A, Astenik Solar Inc., COVEME S.p.A. (MH & RE. S.p.A.), Dupont De Nemours Inc., KREMPEL GmbH, Targray Technology International Inc., Toray Industries Inc., Toyo Aluminium KK and ZTT International Limited (Jiangsu Zhongtian Technology Co. Ltd.).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Installation Technique, Thickness, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, China, Japan, India, South Korea, Australia, Vietnam, Germany, France, United Kingdom, Italy, Spain, Netherlands, Brazil, Mexico
Companies Covered 3M Company, Arkema S.A, Astenik Solar Inc., COVEME S.p.A. (MH & RE. S.p.A.), Dupont De Nemours Inc., KREMPEL GmbH, Targray Technology International Inc., Toray Industries Inc., Toyo Aluminium KK and ZTT International Limited (Jiangsu Zhongtian Technology Co. Ltd.)
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Global Solar Backsheet Market to Reach US$ 4.3 Billion by 2032, Impelled by Growing Adoption of Solar Panels
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