The global solar backsheet market is
expected to grow at 7.20% CAGR during the forecast period. Solar backsheet is
used in solar power plants to generate electricity for various applications
such as residential, commercial, military, industrial, and utilities. Solar
backsheet is used to protect the photovoltaic module from UV radiations,
moisture penetration, electrical insulation, and offer the durability to the PV
module.
The global solar backsheet market is
projected to grow at a high rate during the forecast period, mainly due to the
increasing solar PV installation and policy support from government to enable
adoption of renewable technologies. As per European Commission, it is estimated
that USD 28.44 billion is required to be invested in renewable sources by the
government between 2020 and 2050. This would lead to increase in the
installation on solar power parks across Europe. This, driving the market for
solar backsheet in the coming years.
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Industry
Segmentation
Global solar backsheet market has been
segmented based on type, installation, application, and region.
Based on type, the market is classified
into fluoropolymer and non-fluoropolymer.
Based on application, the market is
segmented as utility, residential, commercial, industrial, and military.
The installation is majorly taking place
in Europe, North America, and Asia Pacific. Considering the type, the market is
segmented as fluoropolymer and non-fluoropolymer. Fluoropolymer type of
backsheet is majorly installed in solar power parks due to its higher
efficiency and better insulation properties compared to non-fluoropolymer
backsheet.
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Regional
Outlook
Asia Pacific is expected to be the largest
and the fastest-growing market, by region, during the forecast period. This is
due to the significant increase in solar PV installation in China, Japan, and
India. For instance, Japan installed 6 GW to 7.5 GW of solar power plant in
2018. Moreover, the Ministry of Economy, Trade and Industry (METI) has revoked
approvals for 260,000 solar projects, with 14.6 GW of capacity. This would, in
turn, boost the growth of solar backsheet installation in Japan.
Prominent
Players
The key players of the global solar
backsheet market are Honeywell (US), Agfa (Belgium), Dupont (US), Jolywood
(China), Isovoltaic (Austria), 3M (US), Dunmore Corporation (US), Hangzhou
Sunhome Solar Backsheet Co.,Ltd. (China), Krempel (Germany), and Flexcon (US),
among others.
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