Encapsulation
of solar cells is done between the solar module glass cover and the
glass cover of the solar cell located inside the module.
Encapsulations are usually done in order to extend the useful life of
such PV installations. Materials selected for encapsulations usually
possess corrosion resistant, flame retardant or hard wearing
properties. Generally such encapsulation cannot be easily automated
and requires significant energy and material resources. The use of
such encapsulants is growing steadily in multiple industries such as
construction and automotive among others. Encapsulation ensures safe
working of solar PV modules which enables consumers to reduce the
maintenance costs.
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The
construction industry is one the largest consumers of this segment.
The growth of construction industry in the future will encourage
companies to invest in R&D activities associated with solar
encapsulation technology. The market for solar encapsulation is
anticipated to grow at a substantial rate in the future owing to
increased adoption of solar PV modules. Currently, there are no
substitutes available for solar encapsulation technology, thus the
growth of PV modules will directly enhance the growth rate of this
technology.
Growing
awareness towards renewable energy resources and increased adoption
of solar as a viable form of energy is bolstering the demand for
solar PV modules. Many government agencies in developed counties have
set targets to ensure maximum adoption of solar technology. Such
government initiatives and growing demand of solar PV modules will
encourage investment in solar encapsulation market. Other driving
factors include growing energy requirements and immense technological
proliferation in the solar PV module industry resulting in plummeting
prices. Even though the market is at a nascent stage of development,
growing acceptance and negligible product substitutes will ensure
steady growth of the market in future. Constant R&D initiatives
by existing PV module manufacturers will drive down encapsulation
prices in the future as well as develop newer encapsulants for future
PV technologies. The development of organic solar technology in the
future will attract further investment in solar encapsulation market.
The
encapsulants can be segmented on the basis of technology and
materials used. Segmentation on the basis of technology can be done
as polycrystalline silicon solar technology and thin film solar
technology. On the basis of material used for encapsulation,
segmentation may be done as Polydimethylsiloxane (PDMS), Ethylene
Vinyl Acetate (EVA), Polyvinyl Butyral (PVB) and Ionomers among
others. The material to be used for construction of solar
encapsulation depends on the requirements of the consumer.
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Asia
is emerging to be the market leader in terms of adoption of such
encapsulation technologies. This is mostly due to aggressive
renewable energy targets and growing energy requirements of the Asian
economies. Countries such as India and China have intensively
invested in this technology. Significant adoption is also observed in
both North America and Europe. The national governments in these
regions have announced several tax benefits to encourage adoption of
solar technology which positively impacts the solar encapsulation
market. Rest of the World has a comparatively lower market share in
the overall installation market.
Some
of the key players competing in solar encapsulation market include
Bridgestone, STR Holdings Inc., DuPont, First Solar GmBH, Dow Corning
Corporation, KURARAY EUROPE GMBH and Hangzhou First PV Material Co.
Ltd. among others.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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and new entrants along with detailed value chain analysis.
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