Solar PV Backsheet Market Segmentation by Type (Non-Fluoropolymer, Single Fluoropolymer, and Double Fluoropolymer); by Installation (Roof Mounted, Ground, and Floating); and by End-User (Residential, Industrial, Utility, and Others)-Global Demand Analysis & Opportunity Outlook 2021-2031

Global Solar PV Backsheet Market Highlights Over 2021 - 2031

The global solar PV backsheet market is estimated to garner a revenue of USD 4898.8 Million by the end of 2031, by growing at a CAGR of 7.1% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market generated a revenue of USD 2478.8 Million. The growth of the market can primarily be attributed to the growing deployment of solar panels worldwide, backed by the increasing focus of the government of nations to shift towards renewable energy sources. According to the statistics by the International Renewable Energy Agency (IRENA), the total installed capacity for solar energy increased from 40334 MW in the year 2010 to 709674 MW in the year 2020.

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Source: International Renewable Energy Agency (IRENA)

Environmental sustainability is a major challenge globally and to address such challenges, the regulatory bodies are increasingly developing initiatives by means of government subsidies and incentives for solar farms, along with generating awareness regarding the benefits of using solar as a source of energy. For instance, the United Nations has laid down the 17 Sustainable Development Goals (SDGs), also known as Global Goals, and has further set resolutions for each SDGs that are aimed for achievement by 2030, colloquially known as Agenda 2030. Out of the 17 SDGs, the 7^th SDG focuses on ensuring access to affordable, reliable, sustainable and modern energy for all. According to the statistics by the International Energy Association (IEA), solar PV generation in the Net Zero Scenario is anticipated to reach 6970.0 TWh by the end of 2030. The statistics also stated that in the year 2020, the annual solar PV generation touched 820 TWh, and to reach the levels of 2030, average generation growth of 24% is required between the period 2020 and 2030. As a result, the demand for solar panels is expected to increase enormously, and in turn, drive the growth of the market in the coming years.

Source: International Energy Association (IEA)

In addition to this, the declining cost of solar components, followed by the increasing advancement in technology and the use of advanced materials in the manufacturing of solar panels backsheet, such as fluoropolymer backsheets, and encapsulant solar panels among others, are also expected to drive the growth of the market in the coming years.

Global Solar PV Backsheet Market Regional Synopsis

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 anticipated to garner the largest revenue of USD 2895.7 Million by the end of 2031, up from a revenue of USD 1532.7 Million in the year 2021. The growth of the market in the region can primarily be attributed to the growing adoption of solar farms in the region, along with the surge in the adoption of solar PV modules, backed by the increasing government initiatives, such as the feed-in tariff (FIT) that is aimed at accelerating investments in renewable energy. In the other statistics by the IEA, during the period 2019 and 2020, China alone was responsible for 75% of the increase in annual solar PV installations. Besides this, the statistics also stated that in the year 2020, China’s solar PV capacity additions touched 48GW, while in Vietnam and India, 11GW and less than 4GW of capacity additions were registered respectively. Moreover, the market growth can also be attributed to the presence of numerous manufacturers of solar PV panels in the region.

Source: International Energy Association (IEA)

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The market in the region is further segmented by country into China, Vietnam, Japan, South Korea, Australia, India, and the Rest of Asia Pacific. The market in China is anticipated to generate the largest revenue of USD 1480.3 Million by the end of 2031, up from a revenue of USD 843.5 Million in the year 2021.

Growth Drivers and Challenges Impacting the Growth of the Global Solar PV Backsheet Market

Growth Drivers

• Growing Installation of Solar Power Worldwide

• Declining Costs of Solar Components

Challenges

• Concern for Failure of Complete PV Module in Case of Ineffective Backsheet

Global Solar PV Backsheet Market Segmentation Synopsis

The global solar PV backsheet market is segmented by type into non-fluoropolymer, single fluoropolymer, and double fluoropolymer. Out of these, the single-fluoropolymer segment is anticipated to garner the largest revenue of USD 1976.4 Million by the end of 2031, up from a revenue of USD 1049.6 Million in the year 2021. By installation, the market is segmented into roof mounted, ground, and floating. Out of these, the ground segment is projected to register the largest revenue of USD 3223.8 Million by the end of 2031, up from a revenue of USD 1683.6 Million in the year 2021. By end-user, the market is segmented into other, utility, industrial, and residential. Out of these, the utility segment is anticipated to garner the largest revenue of USD 3416.8 Million by the end of 2031, up from a revenue of USD 1783.3 Million in the year 2021.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global solar PV backsheet market that are included in our report are Cybrid Technologies Inc., DuPont de Nemours, Inc., Targray Technology International Inc., COVEME s.p.a., Toyo Aluminium K.K., TORAY INDUSTRIES INC., DUNMORE, KREMPEL GmbH, TAIFLEX Scientific Co. Ltd., HANGZHOU FIRST APPLIED MATERIAL CO. LTD., and others.

Latest Developments in the Global Solar PV Backsheet Market:

• May 15^th, 2019: DuPont de Nemours, Inc. announced that the solar module manufacturing organization JinkoSolar Holding Co., Ltd. has officially launched the “Swan” bifacial module, the new range of premium Cheetah products, at the Intersolar Europe 2019. This PV module is known to have the new DuPont Clear DuPont Tedlar-based backsheet.

• June 8^th, 2017: Targray Technology International Inc. announced that it has been selected by ISOVOLTAIC AG as the exclusive North American distributor of the newly launched, innovative co-extruded polypropylene (PP) backsheet, named ICOSOLAR CPO 3G, manufactured by ISOVOLTAIC AG for solar module manufacturing.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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