A process where solar cell strings are encapsulated between 2 sheets of encapsulated foil is known as Solar Encapsulation. The main purpose of encapsulation is generally to increase the life of PV installation.  For encapsulation, the material has features like flame retardance and corrosion resistance. Materials such as Ethylene Vinyl Acetate, UV Curable resin, and Non-Ethylene Vinyl Acetate are mainly used to laminate solar cells which protect them from vibration and shocks. The use of encapsulation is expanding in various industries such as the building and automotive sectors. Solar Encapsulation has gained enormous popularity in recent years due to its ability of efficiency, durability, good performance, and cost-effectiveness of PV modules. Encapsulation ensures the safe operation of solar PV modules resulting in low maintenance.

The worldwide adoption of solar panels and increasing demand for electricity are becoming the primary factors in driving the market growth.

Economic Impact of Covid-19:

The analysis of the COVID-19 recovery trajectory provides an overview of the main strategies that industries are implementing to respond to and recover from the economic crisis. It also focuses on the post-pandemic and pre-pan\demic era of the Global Solar Encapsulation Market through PEST analysis, SWOT, Quantitative and Qualitative analysis, Attractive analysis, and DROs. Innovations by market players and an increasing number of products will propel the growth of this market.

Trends: Increasing demand for sustainability solutions for the environment is boosting the market.

For reducing carbon footprint there is high demand for environmentally sustainable solutions. A drastic shift toward renewable energy sources is seen due to the depletion of conventional energy and growing concerns about the environment, this creates a demand for solar encapsulation in the forecast years. Moreover, rising awareness of the benefits of renewable sources and their properties such as mechanical resistance, and good insulation are expected to drive the growth of the solar encapsulation market in the coming years.

Moreover, rising awareness of reducing carbon footprint, technological advancement, rapid urbanization, and increasing solar applications for power generation are propelling the Solar encapsulation market to growth.

Key Players:

• First Solar
• Mitsubishi Chemical Corporation
• 3M
• STR Holdings Inc.
• Dow
• Dupont
• RenewSys India Pvt. Ltd
• Jinko Solar
• Q CELLS
• SunPower Corporation
• The Solaria Corporation
• Elkem ASA
• Wacker Chemie AG
• Lucent Clean Energy
• Novogenio SI
• Hangzhou First PV Material Co. Ltd
• DNP Solar
• Trosifol
• Others

The above key players in the Global Solar Encapsulation Market can be changed according to the client’s requirements.

Moreover, the key players aim towards expansion, joint ventures, collaboration, mergers, and acquisitions to advance capabilities in the Solar Encapsulation Market.

Recent Developments in Global Solar Encapsulation Market.

2025: Yixing plans an 11GW PV module and 830MW PV installed capacity by 2025. Additionally, this includes 120MW of distributed PV installed capacity, with specific allocation for different sectors.

2024: Huasun to supply 3 GW Everest G12R modules to Europe.

A solar manufacturer Huasun has signed an agreement with a European solar project investor in Belgrade. According to the agreement, Huasun will continuously produce Everest series H12R heterojunction (HJT), these products are mainly used in ground-mounted photovoltaic power generation projects. The first phase project of 150 MW is expected to be delivered in the first half of 2024 followed by 240 MW phase 2. The company’s main focus will be on Bulgaria, Turkey, Croatia, and Macedonia, and Romania.

December 2023: According to the Ministry of Industry and Information Technology of China, Solar module production has reached 79GW an increase of 86.7% YOY

December 2023: TCL Zhonghuan to set up a 12 GW PV cell manufacturing plant in Huainan. This is 2 phase construction of 6GW each with an investment of RMB 6 billion (USD 837.3 Million). Parallelly, they have announced that it will be set up with Huainan High-Tech Zone Zer-carbon Demonstration Park with an investment of RMB 5.5 billion (USD 767.5 million) This first phase is expected to reach full capacity in March 2024.

Global Solar Encapsulation Market: Key Benefits:

1. The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
2. Quantitative and Qualitative analysis of the current market.
3. Estimations for the forecast period 2033.
4. Historical data and forecast data.
5. Recent developments and trends in the market.   
6. Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
7. Covid-19 Impact analysis

Global Solar Encapsulation Market Segmentation:

By Type:

• Ethylene Vinyl Acetate
• UV Curable Resins
• Non-Ethylene Vinyl Acetate

By Technology:

• Thin-Film Technology
• Crystalline Silicon Technology
• Cadmium Telluride (CDTE)

By Application:

• Construction
• Electronics
• Automobile

By Region:

Asia-Pacific

• Japan
• China
• India
• Australia
• New Zealand
• Rest of Asia-Pacific

North America

• US
• Canada
• Mexico

Europe

• Germany
• France
• Italy    
• Spain
• UK
• Rest of Europe

The rest of the World

Each of the market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.

Research Scope:

Report Scope	Details
Base Year	2023
Historical Years	2019 to 2022
Forecast Years	2024 to 2033
Market Size 2023	USD 5.28 BN
Market Revenue 2033	USD 9.86 BN
Growth Rate 2024- 2033	6.9 %
Report Coverage	Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis.
Segments Covered	Type, Technology, Application, Region
Companies Mentioned	First Solar, Mitsubishi Chemical Corporation, 3M, STR Holdings Inc., Dow, Dupont, RenewSys India Pvt. Ltd, Jinko Solar, Q CELLS, SunPower Corporation, The Solaria Corporation, Elkem ASA, Wacker Chemie AG, Lucent Clean Energy, Novogenio SI, Hangzhou First PV Material Co. Ltd, DNP Solar, Trosifol
Customization	Yes

 

Regional Analysis:

North America is expected to hold the market share by 2033. There is rapid growth in the consumer demand for Electric vehicles which in turn shows a growing industry for electrification. Rising renewable energy requirements and increasing benefits of photovoltaic technology is propelling the growth of the market in this region.

Asia-Pacific is expected to be the fastest-growing region in the solar encapsulation market. A significant increase in the number of solar cell units in this region has developed due to the shift of key players from Europe to China. Europe's price fluctuation in solar materials has migrated the players in Asia-Pacific which indirectly supported the growth in this region. By 2025, India will be in the top 2 or 3 solar manufacturers globally, because an estimated 40 GW of modules will be produced. According to the Times of India, the sales growth of EVs in India has increased by 82% by March 2023, as compared to 2022 which is 157% i.e. 1,39,789 units sold in 2022 and 11,80,597 units in 2023.

Moreover, the increasing population and use of electric vehicles to reduce carbon emissions, and charging stations have been installed in countries like India, China, and Japan solar modules will also contribute toward the region's growth.

Key questions answered by this report.

1. Top market players contributing to the revenue?
2. Trending strategies by the players?
3. Which region will be the leading one in the forecast period?
4. Factors that drive the Global Solar Encapsulation Market?
5. Which factors will affect the Global Solar Encapsulation Market?
6. How Covid-19 pandemic impacted the growth of the Global Solar Encapsulation Market?
7. Which Segment accounted for the Global Solar Encapsulation Market shares?

Frequently Asked Questions (FAQ) :