Solar Backsheet Market Scenario
The
global solar backsheet market is estimated to expand at 7.20% CAGR during the
forecast period. Solar backsheet is the outermost layer of the photovoltaic
(PV) module which is used to protect the components of the PV module and act as
an electric insulator. Solar backsheet is installed on the ground, roof, and on
the floating power plant. They are majorly used in utilities, residential
complexes, commercial areas, and industrial applications. Solar backsheet have
been very useful to protect the PV module from UV rays, moisture penetration to
offer durability to the PV module.
The
growing demand for Solar
PV Backsheet Market is attributed to the increasing installation of
solar PV panel and growing focus on increasing renewable energy share in the
total power generation mix. Major utlities are increasing their investment in
solar power parks to provide its customers with reduced electricity cost and
reduce carbon emission . One of the major restraints for the global solar
backsheet market is the high installation cost of solar PV power.
Industry Segmentation
The
solar backsheet market has been segmented based on installation into ground
mounted, rooftop mounted, and floating power plant. Among these types, rooftop
mounted is the fastest growing segment in the solar backsheet market as it is
comparatively easier to install, and costs less compared to other two types of
installation.
Based
on application, the market is segmented as utility, residential, commercial,
industrial, and military. Utility segment is estimated to dominate the market
during the forecast period due to the increase in installations of solar plants
for distributed power generation and utility. The installation is majorly
taking place in Europe, North America, and Asia Pacific.
Regional Analysis
Region
wise, Asia Pacific held the largest market share of the global solar backsheet
market in 2017. It is estimated that Asia-Pacific region would be the fastest
growing market during the forecast period, mainly due to the rising investment
in renewable energy sources and high demand for solar backsheet by the
utilities. The solar backsheet market would be mainly driven by the favorable
government initiatives to increase the investment in renewable energy to reduce
carbon emission.
Key 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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