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Solar Encapsulation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global solar encapsulation market reached a value of US$ 2,030.3 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4,845.3 Million by 2027 exhibiting a growth rate (CAGR) of 14.40% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

 

 
 

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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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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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global solar encapsulation market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on material, technology and application.

Breakup by Material:

 

 
 

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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 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
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$ 2299
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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)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Solar Encapsulation Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Material
    6.1    Ethylene Vinyl Acetate
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Non-Ethylene Vinyl Acetate
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    UV Curable Resins
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Technology
    7.1    Single-crystal/Polycrystalline Silicon Solar Technology
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Thin-film Solar Technology
        7.2.1 Market Trends
        7.2.2 Key Segments
           7.2.2.1 Cadmium Telluride (CdTe)
           7.2.2.2 Copper Indium Gallium Selenide (CIGS)
           7.2.2.3 Amorphous Silicon (a-Si)
        7.2.3 Market Forecast
8    Market Breakup by Application
    8.1    Construction
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Electronics
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Automotive
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    3M Company
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Bridgestone Corporation
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    dnpSolar
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Dow Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    Dupont De Nemours Inc.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    Eastman Chemical Company
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    First Solar Inc.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Kuraray Co. Ltd.
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    Mitsubishi Chemical Holdings Corporation
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    Mitsui Chemicals Inc.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    RenewSys India Pvt. Ltd.
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
        14.3.12    STR Holdings Inc.
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis

List of Figures

Figure 1: Global: Solar Encapsulation Market: Major Drivers and Challenges
Figure 2: Global: Solar Encapsulation Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Solar Encapsulation Market: Breakup by Material (in %), 2021
Figure 5: Global: Solar Encapsulation Market: Breakup by Technology (in %), 2021
Figure 6: Global: Solar Encapsulation Market: Breakup by Application (in %), 2021
Figure 7: Global: Solar Encapsulation Market: Breakup by Region (in %), 2021
Figure 8: Global: Solar Encapsulation (Ethylene Vinyl Acetate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Solar Encapsulation (Ethylene Vinyl Acetate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Solar Encapsulation (Non-Ethylene Vinyl Acetate) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Solar Encapsulation (Non-Ethylene Vinyl Acetate) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Solar Encapsulation (UV Curable Resins) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Solar Encapsulation (UV Curable Resins) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Solar Encapsulation (Single-crystal/Polycrystalline Silicon Solar Technology) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Solar Encapsulation (Single-crystal/Polycrystalline Silicon Solar Technology) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Solar Encapsulation (Thin-film Solar Technology) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Solar Encapsulation (Thin-film Solar Technology) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Solar Encapsulation (Construction) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Solar Encapsulation (Construction) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Solar Encapsulation (Electronics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Solar Encapsulation (Electronics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Solar Encapsulation (Automotive) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Solar Encapsulation (Automotive) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Solar Encapsulation (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Solar Encapsulation (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: North America: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: North America: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: United States: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: United States: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Canada: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Canada: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Asia-Pacific: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Asia-Pacific: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: China: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: China: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Japan: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Japan: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: India: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: India: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: South Korea: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: South Korea: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Australia: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Australia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Indonesia: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Indonesia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Europe: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Europe: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Germany: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Germany: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: France: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: France: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: United Kingdom: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: United Kingdom: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Italy: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Italy: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Spain: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Spain: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Russia: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Russia: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Latin America: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Latin America: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Brazil: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Brazil: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Mexico: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Mexico: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Middle East and Africa: Solar Encapsulation Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Middle East and Africa: Solar Encapsulation Market: Breakup by Country (in %), 2021
Figure 74: Middle East and Africa: Solar Encapsulation Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Global: Solar Encapsulation Industry: SWOT Analysis
Figure 76: Global: Solar Encapsulation Industry: Value Chain Analysis
Figure 77: Global: Solar Encapsulation Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Solar Encapsulation Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Solar Encapsulation Market Forecast: Breakup by Material (in Million US$), 2022-2027
Table 3: Global: Solar Encapsulation Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 4: Global: Solar Encapsulation Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Solar Encapsulation Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Solar Encapsulation Market: Competitive Structure
Table 7: Global: Solar Encapsulation Market: Key Players


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Key Questions Answered in This Report

The global solar encapsulation market was valued at US$ 2,030.3 Million in 2021.

We expect the global solar encapsulation market to exhibit a CAGR of 14.40% during 2022-2027.

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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