Energy and Power
January 22, 2020

Solar Encapsulation Market Share, Trend, Segmentation, and Forecast to 2022

Solar encapsulation is materials to laminate the photovoltaic solar cells to enhance its efficiency and durability. The solar cell circuits are floated in between the materials such as ethylene-vinyl acetate (EVA) and non-ethylene vinyl acetates to soften the effects of any external mechanical shocks and vibrations.

Solar encapsulation market was valued at $915 million in 2015 and is projected to reach $4,231 million by 2022, growing at a CAGR of 23.1% from 2016 to 2022. Based on the application, construction occupied more than two-fifths share in 2015.

An increase in the installation of rooftop solar panels positively impacts the growth of the solar encapsulation market. Photovoltaic cells have gained major traction owing to the increase in applications in the residential and nonresidential sectors for electricity generation, which is estimated to generate potential growth opportunities for solar encapsulation materials.

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The increase in applications of such solar cells is expected to soar the demand for encapsulation materials. Furthermore, growth in demand for solar installations in the construction sector fuel the demand for solar encapsulation in PV modules.

KEY FINDINGS OF THE SOLAR ENCAPSULATION MARKET STUDY:

  • The EVA solar encapsulation materials are expected to grow at a CAGR of 23.0% during the forecast period.
  • Based on the solar module, the solar encapsulation market in monocrystalline silicon cells is anticipated to grow at a CAGR of 22.7% during the forecast period.