Solar Backsheet Market
Solar Backsheet Market Forecasts to 2030 - Global Analysis By Product (Polyethylene Terephthalate, Polyvinylidene Fluoride and Other Products), Thickness (< 100 Micrometer, 100 to 500 Micrometer and > 500 Micrometer), Installation, Type, Application and By Geography
According to Stratistics MRC, the Global Solar Backsheet Market is accounted for $1.99 billion in 2023 and is expected to reach $3.94 billion by 2030 growing at a CAGR of 10.3% during the forecast period. A solar backsheet is a crucial component of photovoltaic (PV) panels, serving as the outermost layer on the backside of the module. Its primary function is to protect the solar cells from environmental factors such as moisture, UV radiation, and temperature fluctuations. Typically made from various materials like polyester, fluoropolymers, or a combination of both, backsheet technology ensures the longevity and efficiency of solar panels by providing insulation and electrical insulation. It also enhances electrical safety by preventing electrical shocks and fire hazards.
According to SolarPower Europe, over the past decade, between 2011 and 2020, solar power increased rapidly from 30.13 GW in 2011 to 138.2 GW in 2020.
Market Dynamics:
Driver:
Growing solar energy industry
The growing solar energy industry is a significant driver of the solar backsheet market for several reasons. As the solar power continues to gain momentum globally, the demand for solar panels rises thus increasing the need for components like backsheets. Additionally, advancements in solar technology, such as higher-efficiency panels and longer-lasting materials, drive the demand for high-quality backsheets to enhance panel performance and durability. Government initiatives and incentives promoting renewable energy adoption further stimulate the solar industry, amplifying the demand for backsheets.
Restraint:
Installation and maintenance issues
Installation and maintenance issues can significantly impact the solar backsheet market. During installation, improper handling or installation techniques can lead to backsheet damage, compromising its longevity and effectiveness. Maintenance becomes crucial to ensuring optimal performance over time. Issues like delamination, moisture ingress, and UV degradation may arise, necessitating regular inspections and possibly replacement. Additionally, extreme weather conditions can accelerate wear and tear, requiring robust materials and installation methods to mitigate risks.
Opportunity:
Emerging markets
The emerging markets present a promising opportunity for the solar backsheet market due to increasing global focus on renewable energy encourages the adoption of solar power solutions, especially in developing regions where energy demand is rising rapidly. Government initiatives and incentives aimed at promoting clean energy further stimulate growth in these markets. Additionally, the declining cost of solar technology makes it more accessible to emerging economies seeking to modernize their energy infrastructure. Moreover, the need for reliable and sustainable energy sources in regions with inconsistent power grids drives the demand for solar solutions and, consequently, solar backsheet materials.
Threat:
Financial instability
The solar backsheet market faces financial instability due to several factors. The volatility of raw material prices, such as fluoropolymers and Tedlar, can significantly impact production costs, squeezing profit margins. The dependency on government subsidies and incentives for solar installations creates uncertainty, as changes in policies can disrupt market demand. Additionally, intense competition among manufacturers leads to price wars, further eroding profitability. Fluctuations in currency exchange rates and global economic conditions also contribute to the market's financial instability, making strategic planning and risk management crucial for stakeholders.
Covid-19 Impact:
The COVID-19 pandemic has had a significant impact on the solar backsheet market. Supply chain disruptions, workforce shortages, and project delays have resulted in challenges for manufacturers and installers alike. Uncertainty in the market has led to decreased investment in solar projects, affecting demand for backsheet materials. However, as countries aim for an economic recovery and prioritize renewable energy initiatives, the market is expected to rebound. Moreover, the pandemic has underscored the importance of resilient and sustainable energy systems, potentially driving increased adoption of solar power in the long term, thereby boosting the demand for solar backsheets.
The thermoplastic elastomer segment is expected to be the largest during the forecast period
The growth of the thermoplastic elastomer (TPE) segment in the solar backsheet market can be attributed to several factors. TPEs offer superior mechanical properties, such as flexibility and durability, making them ideal for applications requiring resilience to harsh environmental conditions. Additionally, their ability to be processed using conventional plastic manufacturing techniques enhances cost-effectiveness. With the rising demand for solar energy solutions, the need for durable and efficient backsheet materials has intensified, further driving the adoption of TPEs. Moreover, TPEs exhibit excellent weather resistance and UV stability, ensuring a prolonged lifespan in solar panel applications.
The photovoltaic segment is expected to have the highest CAGR during the forecast period
The growth of the photovoltaic (PV) segment in the solar backsheet market can be attributed to the increasing adoption of solar energy as a clean and sustainable power source spurring demand for PV modules, consequently driving the need for high-quality backsheet materials to protect these modules. Additionally, advancements in PV technology have led to improved efficiency and durability fueling the demand for reliable backsheet solutions. Moreover, government incentives and initiatives aimed at promoting renewable energy deployment have incentivized investment in solar projects, thereby boosting the demand for backsheet materials.
Region with largest share:
The North American region has witnessed significant growth in the solar backsheet market due to increasing environmental concerns and the emphasis on sustainable energy sources driving the adoption of solar energy solutions across the continent. Additionally, supportive government policies, such as tax incentives and renewable energy targets, have incentivized investments in solar power infrastructure. Technological advancements in solar backsheet materials, enhancing durability and efficiency, have further fueled market expansion. Also, rising consumer awareness about the benefits of renewable energy and decreasing costs of solar installations have propelled demand in residential, commercial, and industrial sectors.
Region with highest CAGR:
The Asia-Pacific region has experienced substantial growth in the solar backsheet market due to increasing awareness about renewable energy sources and government initiatives promoting solar power adoption. Additionally, the region's rapid industrialization and urbanization have led to a surge in energy consumption, prompting a shift towards cleaner alternatives like solar. Advancements in technology have improved the efficiency and durability of solar backsheets, making them more attractive to consumers. Furthermore, favourable investment climates and declining solar equipment costs have encouraged widespread adoption across Asia-Pacific.
Key players in the market
Some of the key players in Solar Backsheet market include 3M, Arkema, Coveme S.P.A., Cybrid Technologies, Dunmore, Dupont, Endurans™ solar, Flexcon company, inc, Hangzhou first pv material, Honeywell international, Krempel gmbh, Luckyfilm, Nippon light metal, Sfc Energy, Shanghai Huitian New Materials Co., Ltd., Taiflex scientific co., ltd, Targray, Toyo aluminium k.k., Vikram solar ltd. and Zhongtian Technology Submarine Cable Co., Ltd.
Key Developments:
In May 2024, German firm SFC Energy and FC TecNrgy have inked a pact to enter into manufacturing of hydrogen and methanol fuel cells in India. The venture plans to set up a manufacturing unit, Research & Development and a repair centre in Gurugram, Haryana. Further, they have also announced the launch of EFOY Hydrogen Fuel Cell in India which is expected to play a significant role in meeting the country's National Hydrogen targets which include plans to produce up to 5 million tonne of green hydrogen by 2030.
In April 2024, Dunmore announces a partnership with ICEYE, providing multilayer insulation film for Synthetic Aperture Radar (SAR) satellites. ICEYE has the largest constellation of SAR satellites, with monitoring capabilities for any location on earth. ICEYE is now using Dunmore’s MO 18046 multilayer insulation film as protective MLI on the antenna of these satellites.
Products Covered:
• Polyethylene Terephthalate
• Polyvinylidene Fluoride
• Thermoplastic elastomer
• Tedlar Polyester Tedlar (TPT) -Primed
• Polyethylene Naphthalate
• Other Products
Thicknesses Covered:
• < 100 Micrometer
• 100 to 500 Micrometer
• > 500 Micrometer
Installations Covered:
• Ground-Mounted
• Floating Power Plant
• Roof-Mounted
Types Covered:
• Non-Fluoride
• Fluoride
• Thin Film
• Ultra-Thin Film
• Crystalline
• Photovoltaic
• Non-Photovoltaic
Applications Covered:
• Residential
• Utility
• Industrial
• Commercial
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Solar Backsheet Market, By Product
5.1 Introduction
5.2 Polyethylene Terephthalate
5.3 Polyvinylidene Fluoride
5.4 Thermoplastic elastomer
5.5 Tedlar Polyester Tedlar (TPT) -Primed
5.6 Polyethylene Naphthalate
5.7 Other Products
6 Global Solar Backsheet Market, By Thickness
6.1 Introduction
6.2 < 100 Micrometer
6.3 100 to 500 Micrometer
6.4 > 500 Micrometer
7 Global Solar Backsheet Market, By Installation
7.1 Introduction
7.2 Ground-Mounted
7.3 Floating Power Plant
7.4 Roof-Mounted
8 Global Solar Backsheet Market, By Type
8.1 Introduction
8.2 Non-Fluoride
8.3 Fluoride
8.4 Thin Film
8.5 Ultra-Thin Film
8.6 Crystalline
8.7 Photovoltaic
8.8 Non-Photovoltaic
9 Global Solar Backsheet Market, By Application
9.1 Introduction
9.2 Residential
9.3 Utility
9.4 Industrial
9.5 Commercial
9.6 Other Applications
10 Global Solar Backsheet Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 3M
12.2 Arkema
12.3 Coveme S.P.A.
12.4 Cybrid Technologies
12.5 Dunmore
12.6 Dupont
12.7 Endurans™ solar
12.8 Flexcon company, inc
12.9 Hangzhou first pv materia
12.10 Honeywell international
12.11 Krempel gmbh
12.12 Luckyfilm
12.13 Nippon light metal
12.14 Sfc Energy
12.15 Shanghai Huitian New Materials Co., Ltd.
12.16 Taiflex scientific co., ltd
12.17 Targray
12.18 Toyo aluminium k.k.
12.19 Vikram solar ltd.
12.20 Zhongtian Technology Submarine Cable Co., Ltd.
List of Tables
1 Global Solar Backsheet Market Outlook, By Region (2021-2030) ($MN)
2 Global Solar Backsheet Market Outlook, By Product (2021-2030) ($MN)
3 Global Solar Backsheet Market Outlook, By Polyethylene Terephthalate (2021-2030) ($MN)
4 Global Solar Backsheet Market Outlook, By Polyvinylidene Fluoride (2021-2030) ($MN)
5 Global Solar Backsheet Market Outlook, By Thermoplastic elastomer (2021-2030) ($MN)
6 Global Solar Backsheet Market Outlook, By Tedlar Polyester Tedlar (TPT) -Primed (2021-2030) ($MN)
7 Global Solar Backsheet Market Outlook, By Polyethylene Naphthalate (2021-2030) ($MN)
8 Global Solar Backsheet Market Outlook, By Other Products (2021-2030) ($MN)
9 Global Solar Backsheet Market Outlook, By Thickness (2021-2030) ($MN)
10 Global Solar Backsheet Market Outlook, By < 100 Micrometer (2021-2030) ($MN)
11 Global Solar Backsheet Market Outlook, By 100 to 500 Micrometer (2021-2030) ($MN)
12 Global Solar Backsheet Market Outlook, By > 500 Micrometer (2021-2030) ($MN)
13 Global Solar Backsheet Market Outlook, By Installation (2021-2030) ($MN)
14 Global Solar Backsheet Market Outlook, By Ground-Mounted (2021-2030) ($MN)
15 Global Solar Backsheet Market Outlook, By Floating Power Plant (2021-2030) ($MN)
16 Global Solar Backsheet Market Outlook, By Roof-Mounted (2021-2030) ($MN)
17 Global Solar Backsheet Market Outlook, By Type (2021-2030) ($MN)
18 Global Solar Backsheet Market Outlook, By Non-Fluoride (2021-2030) ($MN)
19 Global Solar Backsheet Market Outlook, By Fluoride (2021-2030) ($MN)
20 Global Solar Backsheet Market Outlook, By Thin Film (2021-2030) ($MN)
21 Global Solar Backsheet Market Outlook, By Ultra-Thin Film (2021-2030) ($MN)
22 Global Solar Backsheet Market Outlook, By Crystalline (2021-2030) ($MN)
23 Global Solar Backsheet Market Outlook, By Photovoltaic (2021-2030) ($MN)
24 Global Solar Backsheet Market Outlook, By Non-Photovoltaic (2021-2030) ($MN)
25 Global Solar Backsheet Market Outlook, By Application (2021-2030) ($MN)
26 Global Solar Backsheet Market Outlook, By Residential (2021-2030) ($MN)
27 Global Solar Backsheet Market Outlook, By Utility (2021-2030) ($MN)
28 Global Solar Backsheet Market Outlook, By Industrial (2021-2030) ($MN)
29 Global Solar Backsheet Market Outlook, By Commercial (2021-2030) ($MN)
30 Global Solar Backsheet Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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