The global solar PV backsheet market is anticipated to attain ~9% CAGR over the forecast period, i.e., 2022-2030. The market is segmented on the basis of end-user into residential, industrial, utility, and others. Out of these, the utility segment is estimated to garner largest market share owing to the rapid installation of utility scale solar plants and solar farms in developing and developed countries. For instance, there were more than 2,500 utility scale solar power plants set-up in the U.S. in 2018, as per the data provided by the U.S. Energy Information Administration (EIA).
Research Nester published a report titled “Solar PV Backsheet Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global solar PV backsheet market in terms of market segmentation by type, installation, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global solar PV backsheet market is estimated to grow on the back of increasing adoption of solar power plants. Solar PV backsheets are protective layering for the solar modules, to provide shield against sand, rain, UV rays, physical damage and chemical reactions. Various features of solar PV backsheets, such as, slow degradation, low module power loss, and the capability to endure environmental stress, are estimated to increase their demand for manufacturing solar panels, which, in turn, is expected to boost the market growth. Moreover, increasing installation of solar farms on a utility scale is anticipated to boost the market growth. According to a report by the International Energy Agency (IEA), global solar PV power generation amounted to 720 TWh in 2019, which has increased 22% from last year. Rising government initiatives to promote the implementation of solar energy for various applications is further estimated to drive the market growth.
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Regionally, the global solar PV backsheet market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is growing rapidly and is estimated to record highest CAGR over the forecast period on account of the growing government investment in renewable energy sources, coupled with the favorable climatic conditions, such as longer summers, abundance of sunlight, and others. Moreover, technical advancement in the region, and subsidized solar farms in countries, such as, China, Japan, Vietnam, and India, are estimated to boost the regional market growth.
Rising Installation of Solar Panels to Boost the Market Growth
Solar energy offers a green and clean alternative for thermal electricity, by using sunlight to generate electricity with the help of photovoltaic cells. Solar PV backsheets are a vital part of solar panels. This is why, the increasing acceptance of solar panels, especially amongst residential and utility end-users, is estimated to boost the market growth.
However, lack of proper infrastructure in low-income nations is expected to operate as key restraint to the growth of global solar PV backsheet market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global solar PV backsheet market which includes company profiling of Cybrid Technologies Inc., Trina Solar Co., Ltd, DuPont de Nemours, Inc., First Solar, Inc., TATA Power Solar Systems Limited (TATA Group), Canadian Solar Inc, S.A., Shanghai Aiko Solar Energy Co., Ltd., JA Solar Technology Co., Ltd., ISOVOLTAIC AG, and The Dow Chemical Company.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global solar PV backsheet market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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