Solar Encapsulation Market Synopsis

Solar Encapsulation Market Size Was Valued at USD 5.5 Billion in 2023, and is Projected to Reach USD 11.5 Billion by 2032, Growing at a CAGR of 8.5% From 2024-2032.

Solar encapsulation is the method used in placing solar photovoltaic (PV) cells within a tough, but transparent cover that helps improve on its efficiency and durability. This encapsulation entails the use of certain materials like the ethylene-vinyl acetate (EVA), polyvinyl butyral (PVB), and thermoplastic polyurethane (TPU), which are important in that they prevent the effects of such things like moisture, dust, and mechanical pressures from coming into contact with the PV solar panels. Encapsulation decreases the risk of the solar panels’ exposure with these elements and the resultant compromise of their effectiveness through their operational life hence the importance of solar energy system reliability.

• The Solar Encapsulation Market is a very important segment for the renewable energy industry that aims at giving the best materials and processes for the PV solar modules enhancement. Solar protection modules, which are made of ethylene-vinyl acetate (EVA), polyvinyl butyral (PVB), and the thermoplastic polyurethane (TPU), also the encapsulation layers, protect the solar cells from moisture, dust and any mechanical damage. In this way, through offering the stability and durability of the solar panels, these materials have a direct impact on the performance as well as the lifespan of the solar panels. This has been due to the rising awareness on the environment and the support that the government provides to companies in the manufacturing of clean energy solutions such as solar encapsulation.
• Steady improvements and developments in the field of covering layers are consistently improving the effectiveness and the cost of solar modules. Market is also experiencing an increase in installation of solar power systems in residential, commercial as well as industrial buildings. Also, the modern climatic change factor has directed attention to renewable power sources, in particular, to solar power, thereby adding to investments in solar structures. For instance, Asia-Pacific, North America, and Europe are quickly embracing solar energy because of enabling polices and huge power investments within the business. Therefore, the solar encapsulation market has bright future prospects based on constant innovations in the material science and the increasing emphasis on solar power in the global process.

Solar Encapsulation Market Trend Analysis

Increasing adoption of advanced materials and technologies

• Another factor that have gained much attention in the global solar encapsulation market is the ongoing innovations, and use of better materials, and more efficient technologies for the production of solar panels. Some of the trends, which have emerged currently, include bifacial solar modules forms of innovation, new encapsulation materials that include ionomer and polyolefin. These materials improve the moisture resistance of the solar panels, increase UV stability, and enhance the mechanical strength and thus the efficiency of new generation solar panels. This trend explains how the industry is concentrating on the achievement of efficiency of energy output and driving down the LCOE of solar electric power, which is putting the market on a more sustainable and less costly sense of developing solar energy provision.

Development and adoption of eco-friendly and recyclable encapsulation materials

• One of the growth trends in solar encapsulation market is at the use of environmental friendly and biodegradable encasing materials. Thus, there is a rising need to incorporate technological advance and enhanced solar module production to cater for the increasing concern for sustainability around the globe. To solve the problem of life cycle and disposal of solar panels, innovating biodegradable or easily recyclable encapsulation materials can be used. Firms that are pioneers of implementing these green encapsulation solutions will therefore meet consumers’ new push towards environmentally friendly products and can also potentially benefit from follow-through legislation to support renewable energy technologies.

Solar Encapsulation Market Segment Analysis:

Solar Encapsulation Market Segmented on the basis of Material, Technology and end user.

By Material, Ethylene-vinyl Acetate (EVA) segment is expected to dominate the market during the forecast period

• Out of all the segments, Ethylene-vinyl Acetate (EVA) is anticipated to hold the largest share in the solar encapsulation market throughout the forecast period as it is characterized by properties such as mechanical robustness and penetration in the PV sector. EVA is more preferred for its clarity, robust tack, and excellent heat seal compared to other encapsulation materials that can shield the solar cells from such factors such as moisture, UV and mechanical stress. It also enjoys a bonus of being relatively cheap and very easy to process making its control of the market even more noteworthy.
• Also, constant developments are being made in EVA formulations to boost its thermal characteristics and endured quality, making solar modules reliable in the long run. Therefore, EVA is still being preferred by many solar panel producers, which strengthen the position in the market and ensure the further development of this material due to the enhancing importance of renewable energy sources in the world.

By Technology, Crystalline Silicon Solar segment expected to held the largest share

• Among the segments of the solar encapsulation market, the crystalline silicon solar segment will remain the largest one due to the highest demand and well-mastered efficiency on the photovoltaic market. Due to huge efficiency, reliability and state of the art technology in material manufacturing, the preferred silicon for the PV solar panels is the crystalline silicon which includes both monocrystalline and polycrystalline. This is compounded by on-going improvements in depth of silicon wafers, and downward trends in cost per wafers, making it a go to material for residential, commercial and utility scale solar projects.
• Similarly, the sound supply chain and steep research and development outlay dedicated towards the improvement of efficiency and reliability of crystalline Silicon solar cell gives the segmented market a dominating position. Depending on constant technological elucidation and increasing number of solar projects across the world, the segment of crystalline silicon is expected to sustain its large share based on the increased demand for clean and efficient energy solutions.

Solar Encapsulation Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• Over the given time span, the Asia Pacific is expected to lead the solar encapsulation market for several reasons. The rapid industrialization and urbanization of the region along with support from the governments to increase the use of renewable energy has probably boosted the solar energy usage a lot. The giants of Asian such as China, India, Japan and South Korea are held leading rank as they are promoting large scale solar project while providing incentives to the consumers for the utilization of solar energy. The specialty China has in manufacturing contributes to this and, being the largest producer of solar panels, enhances the regions prominence.
• Besides this, the increasing consciousness of environmental management and control of carbon foot-prints self-impels the both the government and private sector to tap heavily into the solar technologies. This is consequently fueling the need to develop better and more effective solar encapsulation materials for the production of improved solar panels in Asia Pacific – the market leader.

Active Key Players in the Solar Encapsulation Market

• 3M Company (United States)
• Canadian Solar Inc. (Canada)
• Dow Chemical Company (United States)
• First Solar, Inc. (United States)
• Hanwha Q CELLS Co., Ltd. (South Korea)
• JA Solar Technology Co., Ltd. (China)
• Jinko Solar Holding Co., Ltd. (China)
• LONGi Green Energy Technology Co., Ltd. (China)
• Mitsui Chemicals, Inc. (Japan)
• REC Group (Norway)
• Risen Energy Co., Ltd. (China)
• Solutia Inc. (Eastman Chemical Company) (United States)
• STR Holdings, Inc. (United States)
• Trina Solar Limited (China)
• Wuxi Suntech Power Co., Ltd. (China) and Other Major Players

Key Industry Developments in the Solar Encapsulation Market:

• In February 2024, The Fraunhofer ISE company introduced the TEC module in Europe as a means of advancing solar PV modules.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Solar Encapsulation Market by Material
 4.1 Solar Encapsulation Market Snapshot and Growth Engine
 4.2 Solar Encapsulation Market Overview
 4.3 Ethylene-vinyl Acetate (EVA)
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Ethylene-vinyl Acetate (EVA): Geographic Segmentation Analysis
 4.4 Thermoplastic polyurethane (TPU)
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Thermoplastic polyurethane (TPU): Geographic Segmentation Analysis
 4.5 Ionomers
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Ionomers: Geographic Segmentation Analysis
 4.6 Polydimethylsiloxane
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Polydimethylsiloxane: Geographic Segmentation Analysis
 4.7 Polyvinyl Butyral
  4.7.1 Introduction and Market Overview
  4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.7.3 Key Market Trends, Growth Factors and Opportunities
  4.7.4 Polyvinyl Butyral: Geographic Segmentation Analysis
 4.8 Polyolefin
  4.8.1 Introduction and Market Overview
  4.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.8.3 Key Market Trends, Growth Factors and Opportunities
  4.8.4 Polyolefin: Geographic Segmentation Analysis

Chapter 5: Solar Encapsulation Market by Technology
 5.1 Solar Encapsulation Market Snapshot and Growth Engine
 5.2 Solar Encapsulation Market Overview
 5.3 Crystalline Silicon Solar
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Crystalline Silicon Solar: Geographic Segmentation Analysis
 5.4 Thin-film Solar
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Thin-film Solar: Geographic Segmentation Analysis

Chapter 6: Solar Encapsulation Market by End User
 6.1 Solar Encapsulation Market Snapshot and Growth Engine
 6.2 Solar Encapsulation Market Overview
 6.3 Construction
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Construction: Geographic Segmentation Analysis
 6.4 Automotive
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Automotive: Geographic Segmentation Analysis
 6.5 Electronics
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Electronics: Geographic Segmentation Analysis
 6.6 Others
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Others: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Solar Encapsulation Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 3M COMPANY (UNITED STATES)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 CANADIAN SOLAR INC. (CANADA)
 7.4 DOW CHEMICAL COMPANY (UNITED STATES)
 7.5 FIRST SOLAR
 7.6 INC. (UNITED STATES)
 7.7 HANWHA Q CELLS CO
 7.8 LTD. (SOUTH KOREA)
 7.9 JA SOLAR TECHNOLOGY CO
 7.10 LTD. (CHINA)
 7.11 JINKO SOLAR HOLDING CO
 7.12 LTD. (CHINA)
 7.13 LONGI GREEN ENERGY TECHNOLOGY CO
 7.14 LTD. (CHINA)
 7.15 MITSUI CHEMICALS
 7.16 INC. (JAPAN)
 7.17 REC GROUP (NORWAY)
 7.18 RISEN ENERGY CO
 7.19 LTD. (CHINA)
 7.20 SOLUTIA INC. (EASTMAN CHEMICAL COMPANY) (UNITED STATES)
 7.21 STR HOLDINGS
 7.22 INC. (UNITED STATES)
 7.23 TRINA SOLAR LIMITED (CHINA)
 7.24 WUXI SUNTECH POWER CO
 7.25 LTD. (CHINA)
 7.26 OTHER MAJOR PLAYERS.

Chapter 8: Global Solar Encapsulation Market By Region
 8.1 Overview
 8.2. North America Solar Encapsulation Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Material
   8.2.4.1 Ethylene-vinyl Acetate (EVA)
   8.2.4.2 Thermoplastic polyurethane (TPU)
   8.2.4.3 Ionomers
   8.2.4.4 Polydimethylsiloxane
   8.2.4.5 Polyvinyl Butyral
   8.2.4.6 Polyolefin
  8.2.5 Historic and Forecasted Market Size By Technology
   8.2.5.1 Crystalline Silicon Solar
   8.2.5.2 Thin-film Solar
  8.2.6 Historic and Forecasted Market Size By End User
   8.2.6.1 Construction
   8.2.6.2 Automotive
   8.2.6.3 Electronics
   8.2.6.4 Others
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Solar Encapsulation Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Material
   8.3.4.1 Ethylene-vinyl Acetate (EVA)
   8.3.4.2 Thermoplastic polyurethane (TPU)
   8.3.4.3 Ionomers
   8.3.4.4 Polydimethylsiloxane
   8.3.4.5 Polyvinyl Butyral
   8.3.4.6 Polyolefin
  8.3.5 Historic and Forecasted Market Size By Technology
   8.3.5.1 Crystalline Silicon Solar
   8.3.5.2 Thin-film Solar
  8.3.6 Historic and Forecasted Market Size By End User
   8.3.6.1 Construction
   8.3.6.2 Automotive
   8.3.6.3 Electronics
   8.3.6.4 Others
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Solar Encapsulation Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Material
   8.4.4.1 Ethylene-vinyl Acetate (EVA)
   8.4.4.2 Thermoplastic polyurethane (TPU)
   8.4.4.3 Ionomers
   8.4.4.4 Polydimethylsiloxane
   8.4.4.5 Polyvinyl Butyral
   8.4.4.6 Polyolefin
  8.4.5 Historic and Forecasted Market Size By Technology
   8.4.5.1 Crystalline Silicon Solar
   8.4.5.2 Thin-film Solar
  8.4.6 Historic and Forecasted Market Size By End User
   8.4.6.1 Construction
   8.4.6.2 Automotive
   8.4.6.3 Electronics
   8.4.6.4 Others
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Solar Encapsulation Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Material
   8.5.4.1 Ethylene-vinyl Acetate (EVA)
   8.5.4.2 Thermoplastic polyurethane (TPU)
   8.5.4.3 Ionomers
   8.5.4.4 Polydimethylsiloxane
   8.5.4.5 Polyvinyl Butyral
   8.5.4.6 Polyolefin
  8.5.5 Historic and Forecasted Market Size By Technology
   8.5.5.1 Crystalline Silicon Solar
   8.5.5.2 Thin-film Solar
  8.5.6 Historic and Forecasted Market Size By End User
   8.5.6.1 Construction
   8.5.6.2 Automotive
   8.5.6.3 Electronics
   8.5.6.4 Others
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Solar Encapsulation Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Material
   8.6.4.1 Ethylene-vinyl Acetate (EVA)
   8.6.4.2 Thermoplastic polyurethane (TPU)
   8.6.4.3 Ionomers
   8.6.4.4 Polydimethylsiloxane
   8.6.4.5 Polyvinyl Butyral
   8.6.4.6 Polyolefin
  8.6.5 Historic and Forecasted Market Size By Technology
   8.6.5.1 Crystalline Silicon Solar
   8.6.5.2 Thin-film Solar
  8.6.6 Historic and Forecasted Market Size By End User
   8.6.6.1 Construction
   8.6.6.2 Automotive
   8.6.6.3 Electronics
   8.6.6.4 Others
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Solar Encapsulation Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Material
   8.7.4.1 Ethylene-vinyl Acetate (EVA)
   8.7.4.2 Thermoplastic polyurethane (TPU)
   8.7.4.3 Ionomers
   8.7.4.4 Polydimethylsiloxane
   8.7.4.5 Polyvinyl Butyral
   8.7.4.6 Polyolefin
  8.7.5 Historic and Forecasted Market Size By Technology
   8.7.5.1 Crystalline Silicon Solar
   8.7.5.2 Thin-film Solar
  8.7.6 Historic and Forecasted Market Size By End User
   8.7.6.1 Construction
   8.7.6.2 Automotive
   8.7.6.3 Electronics
   8.7.6.4 Others
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research