Global Photovoltaic Materials Market, By Materials (Polycrystalline Silicon, Monocrystalline Silicon, Copper Indium Gallium Selenide (CIGS), Cadmium Telluride, Others), Product (Front Sheet, Encapsulant, Back Sheet, Others), Application (Residential, Non-Residential, Utility), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Photovoltaic Materials Market
Photovoltaic materials market size is valued at USD 50.54 billion by 2028 and is expected to grow at a compound annual growth rate of 11.65% for the forecast period of 2021 to 2028. Data Bridge Market Research report on photovoltaic materials market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Photovoltaic’s can be defined as the procedure of conversion of light into electricity with the help of semiconductor materials present in the photovoltaic cells and are present in the solar panels. Photovoltaic materials are made up of semiconductor materials that and are used to convert solar energy directly into electricity.
The high demand of photovoltaic materials due to rising solar photovoltaic installations across the world has highly influenced growth of the photovoltaic materials market. In line with this, the increasing manufacturing of solar cell modules and rising government initiatives aimed at increasing the share of renewable energy are also acting as a key determinant favoring the growth of the photovoltaic materials market over the forecast period of 2021 to 2028. Also the, increasing concerns regarding the environment and clean energy awareness is also positively impacting the growth of the photovoltaic materials market. The major factor accountable for the growth of the market is the declining costs of photovoltaic materials. Beside this, the rising concerns regarding environmental pollution caused by fossil fuels and their limited availability is also flourishing the growth of the photovoltaic materials market. However, the high installation costs of solar systems along with high set-up cost may act as key restraint towards photovoltaic materials market growth rate in the forecast period of 2021 to 2028, whereas the high capital cost as a result of high technology prices have the potential to challenge the growth of the photovoltaic materials market. Furthermore, the supportive government regulations in various regions are further estimated to promote the growth of the photovoltaic materials market in the above mentioned forecast period.
Besides this, the rising government initiatives and programs to encourage renewable energy along with the rapid technological advancement and sustainable and unlimited potential of solar energy will further offer a variety of growth opportunities for the growth of photovoltaic materials market in the above mentioned forecast period.
This photovoltaic materials market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on photovoltaic materials market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Photovoltaic Materials Market Scope and Market Size
Photovoltaic materials market is segmented on the basis of materials, product and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of materials, the photovoltaic materials market is segmented into polycrystalline silicon, monocrystalline silicon, copper indium gallium selenide (CIGS), cadmium telluride and others.
- Based on product, the photovoltaic materials market is segmented into front sheet, encapsulant, back sheet and others.
- The application segment for photovoltaic materials market is segmented into residential, non-residential and utility.
Photovoltaic Materials Market Country Level Analysis
Photovoltaic materials market is analyzed and market size, volume information is provided by country, materials, product and application as referenced above.
The countries covered in the photovoltaic materials market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific leads the photovoltaic materials market because of the strong presence of a large number of PV module manufacturers in emerging countries such as China and India in this particular region. North America is expected to expand at significant growth rate over the forecast period of 2021 to 2028 owing to the increasing number of companies engaged in the manufacturing of photovoltaic materials in this region.
The country section of the photovoltaic materials market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Photovoltaic Materials Market Share Analysis
Photovoltaic materials market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to photovoltaic materials market.
The major players covered in the photovoltaic materials market report are Kaneka Corporation, KYOCERA Corporation, Mitsubishi Electric US, Inc., DuPont, American Elements, 1366 Technologies, Merck KGaA, Honeywell International Inc., COVEME s,p.a., Targray, Novaled GmbH, Ferrotec (USA) Corporation, Wacker Chemie AG, ARMOR, Tata Power Solar Systems Ltd., Panasonic Corporation, SHARP CORPORATION, First Solar, Renesola, Yingli Solar, Duke Energy Corporation and ALLESUN, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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