Global Solar Backsheet Market to Grow at 7.87% During 2022-2027, Spurred by Increasing Focus on Sustainable Development

November 06, 2020

According to the latest report by IMARC Group, titled "Solar Backsheet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global solar backsheet market reached a value of US$ 1.9 Billion in 2021. A solar backsheet is the outermost layer of a photovoltaic (PV) unit that is designed to shield the inner components of the solar photovoltaic panel from external forces or stress. It is commonly made of a polymer or a combination of polymers based on fluoride and non-fluoride materials. It is highly robust in nature and is widely utilized for protecting the electrical components and solar cells from ultraviolet (UV) radiations, humidity, vapor penetration, dust and chemicals. It also possesses high electrical insulation while offering stability across a wide range of temperatures.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Solar Backsheet Market Trends:

The market is primarily driven by increasing installations of roof-top solar panel units across residential and commercial segments. This is being supported by an enhanced focus on sustainable development and the rising need for lowering carbon emissions. Along with this, governments of numerous countries are undertaking initiatives to promote the use of renewable energy sources for various industrial processes. They are also offering subsidies, tax rebates and investment tax credits to common masses for utilizing eco-friendly measures in daily activities, which is creating a positive outlook for the market. Additionally, various private and public companies are heavily investing in the development of the solar PV infrastructure due to the presence of immense growth potential, which, in turn, is providing an impetus to the market growth. The market is further driven by the development of advanced fluoropolymer backsheets that provide enhanced hydrolytic stability as well as resistance to extreme weather conditions. Some of the other factors contributing to the market growth include continually declining costs of PV components, development of micro-grid networks to meet the rising off-grid energy demands and the continual research and development (R&D) activities conducted by the players. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 7.87% during 2022-2027.

Market Summary:

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

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Solar Backsheet Market to Grow at 7.87% During 2022-2027, Spurred by Increasing Focus on Sustainable Development
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