The global solar encapsulant film market size was valued at USD 933.1 million in 2020

Solar encapsulant film are an essential component in photovoltaic (PV) modules, which are used to capture and convert solar energy into electricity. In this market analysis, we will examine the global and Chinese markets for solar encapsulant films, including major competitors, market prices, product types and application areas, development status, and development trends.

Global Market Analysis:

The global solar encapsulant film market size was valued at USD 933.1 million in 2020 and is expected to reach USD 2.01 billion by 2028, growing at a CAGR of 9.5% from 2021 to 2028. The demand for solar encapsulant films is driven by the increasing adoption of solar energy as a renewable energy source, government initiatives for solar energy, and rising demand for electricity worldwide.

Major competitors in the global solar encapsulant film market include DowDuPont, Eastman, Hangzhou First PV Material Co., Ltd, Mitsui Chemicals, Bridgestone, Coveme, Krempel GmbH, Toppan, Solutia Inc., and Jolywood (Suzhou) Sunwatt Co. Ltd. These companies are competing based on product quality, pricing, and technological innovation.

The global solar encapsulant film market is segmented by product type into ethylene-vinyl acetate (EVA), polyolefin (POE), and others. The EVA segment is expected to hold the largest market share during the forecast period due to its excellent optical properties, good adhesion to glass and backsheet materials, and lower processing costs.

Application areas for solar encapsulant films include crystalline silicon modules and thin-film modules. Crystalline silicon modules are expected to hold the largest market share during the forecast period due to their high efficiency and durability.

Chinese Market Analysis:

China is the world's largest producer and consumer of solar encapsulant films. The Chinese solar encapsulant film market is expected to reach USD 878.9 million by 2028, growing at a CAGR of 10.1% from 2021 to 2028. The demand for solar encapsulant films in China is driven by the increasing demand for solar energy, government initiatives for solar energy, and the availability of low-cost labor.

Major competitors in the Chinese solar encapsulant film market include Hangzhou First PV Material Co., Ltd, Jolywood (Suzhou) Sunwatt Co. Ltd, Guangdong Singyes New Materials Technology Co., Ltd, Zhejiang Zhongtian Photovoltaic Materials Co., Ltd, Changzhou Sveck New Materials Co., Ltd, Jiangsu Akcome Science & Technology Co., Ltd, and Dongguan Sunwell Solar Film Co., Ltd. These companies are competing based on product quality, pricing, and technological innovation.

The Chinese solar encapsulant film market is segmented by product type into ethylene-vinyl acetate (EVA), polyolefin (POE), and others. The EVA segment is expected to hold the largest market share during the forecast period due to its excellent optical properties, good adhesion to glass and backsheet materials, and lower processing costs.

Application areas for solar encapsulant films in China include crystalline silicon modules and thin-film modules. Crystalline silicon modules are expected to hold the largest market share during the forecast period due to their high efficiency and durability.

Development Status and Development Trends:

The solar encapsulant film market is expected to grow significantly in the coming years due to the increasing adoption of solar energy as a renewable energy source. Development trends in the solar encapsulant film market include the development of higher efficiency encapsulants, the use of thinner and lighter encapsulants to reduce module weight and costs, and the adoption of more sustainable and environmentally friendly materials.

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