Solar PV Backsheet Market Size, Top Trends and Forecast 2037

Research Nester’s recent market research analysis on “Solar PV Backsheet Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitors analysis and a detailed overview of the global solar PV backsheet market in terms of market segmentation by type, installation, end user, and by region.

Growing technological innovation and continued expansion of the photovoltaic industry to Promote Global Market Share of Solar PV Backsheet

Increased demand for photovoltaic backsheet in the sector, technical innovation and ongoing growth of the solar industry, proper regulatory schemes and initiatives, reduced manufacturing costs, and effective administration policies are expected to boost the global market. Rising global solar PV installation, as well as present legislative support and efforts from governments to aid in the development of renewable technologies, as well as rising demand and the requirement to decrease carbon emissions, are expected to boost the global solar backsheet market.

The target market's growth is expected to benefit from promising expansion and development in the renewable energy industry. Another factor that is projected to enhance solar backsheet revenue is technological advancements in solar back sheets, which will result in new product improvements. Renewable energy consumption is expected to climb by 3% in 2020, while demand for all other fuels falls. The biggest driver was a nearly 7% increase in renewable energy output.

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Some of the major growth factors and challenges that are associated with the growth of the global solar PV backsheet market are:

Growth Drivers:

• Increased Investment in Solar Energy Farm and Station Construction and Infrastructure
• Increased Demand for Clean and Environment-Friendly Energy Sources

Challenges:

The high cost of solar panel installation is a significant impediment to the solar backsheet industry. In addition to the high costs, a particular amount of land must be allocated for the installation of the panels; the necessary area expands in proportion to the amount of energy required. After the panels are placed, the area cannot be utilized for anything else, limiting the development of the solar backsheet company. In poor countries, there is a lack of appropriate infrastructure and a general lack of understanding are some of the major factors anticipated to hamper the global market size of solar PV backsheet.

By type, the global solar PV backsheet market is segmented into non-fluoropolymer, single-fluoropolymer, double fluoropolymer. The double fluoropolymer segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The key causes for market expansion include better efficiency, increased acceptance, improved manufacturing productivity, and improved insulating characteristics. Fluoropolymer has a long history of superior performance.

By region, the North America solar PV backsheet market is to generate the highest revenue by the end of 2035. Supportive incentive initiatives, such as the planned phaseout of the production tax credit for solar panel manufacturers, followed by increased corporate demand for solar panels via power purchase agreements, and the decreasing price of solar panels, are some of the major factors expected to drive demand for solar panels in the region and thus contribute to market growth. According to the IEA's other data, solar PV capacity in the United States will have expanded by 45% by 2020, reaching 19GW, beating the 2015 record of 15GW. According to the Solar Energy Industries Association (SEIA) figures, the blended average price of solar PV systems declined from USD 5.79/Watt in 2010 to USD 1.38/Watt in 2021. The region's market is further subdivided by nation into the United States and Canada. Among these nations, the US market is likely to create the most revenue of USD 447.1 Million by the end of 2023, while the Canadian market is expected to develop at the fastest CAGR of 8.9% during the forecast period.

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 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, The Dow Chemical Company, and others.

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