New York, Sept. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of Solar Encapsulation Global Market Report 2022 – https://www.reportlinker.com/p06317626/?utm_source=GNW
The global solar encapsulation market is expected to grow from $2.15 billion in 2021 to $2.58 billion in 2022 at a compound annual growth rate (CAGR) of 19.89%. The solar encapsulation market is expected to reach $5.30 billion in 2026 at a compound annual growth rate (CAGR) of 19.69%.
The solar encapsulation market consists of the sale of solar encapsulation solutions by entities (organizations, individual traders, and partnerships) that refer to a process used to protect solar panels and equipment from degradation. Encapsulation is an important part of the solar cell manufacturing process to protect solar panels and equipment from degradation due to various external and environmental factors.
Even the largest solar cells cannot make good solar modules without good encapsulation technique. Solar encapsulation helps increase solar cell life, reduce stability issues, and provide protection against ultraviolet (UV) radiation and corrosion, temperature changes, and low mechanical stress.
The main types of materials used for solar encapsulation are ethylene-free vinyl acetate, UV-curable resin, and other materials. Ethylene vinyl acetate is a material which has good radiation transmission and low degradability in sunlight and is used in solar modules as an encapsulant.
Solar encapsulation solar modules are polycrystalline silicon cells, cadmium telluride, amorphous silicon cells and other solar modules and are used for automotive, electronics and other applications.
Asia-Pacific was the largest region in the solar encapsulation market in 2021. Regions covered in the solar encapsulation market report are Asia-Pacific, Western Europe, Eastern Europe, East, North America, South America, Middle East and Africa.
The Solar Encapsulation Market research report is part of a series of new reports that provide statistics on the Solar Encapsulation market, including the global market size of the Solar Encapsulation industry , regional shares, competitors holding Solar Encapsulation market share, detailed Solar Encapsulation market segments, market trends and opportunities. , and any other data you may need to thrive in the solar encapsulation industry. This Solar Encapsulation Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Rising demand for rooftop photovoltaic (PV) installations in developing economies is driving the growth of the solar encapsulation market. A PV system is an electrical power system designed to provide usable solar energy through photovoltaics (PV) and consists of a solar panels to absorb and convert sunlight into electricity.
Due to growing environmental concerns and the depletion of conventional energy sources, there has been a substantial shift towards renewable energy sources such as solar power and the installation of PV systems, including installations PV on the roofs. The demand for solar encapsulation is increasing in response to the increase in rooftop PV installations in developing economies, as solar encapsulation is a mandatory process to ensure PV reliability and enable longer life.
For example, according to a 2021 report by leading Indian research and advisory firm Mercom India Research, India, a developing economy installed 1.7 GW of rooftop solar in 2021, showing an increase of 210% year over year as the residential segment accounted for 35% and the commercial segment accounted for 33% of all installed rooftop solar capacity. Additionally, Japan’s environment and trade ministries aim to have 108 gigawatts of solar capacity online by 2030, which is 1.7 times higher than the country’s previous goal. It says every building, parking lot and farm in Japan will be fitted with rooftop panels. Thus, the growing demand for solar PV installations will increase the demand for solar encapsulations and hence drive the solar encapsulation market.
Technological advancement is a key trend gaining popularity in the solar encapsulation market. The major players in the market are focusing on the launch and implementation of advanced encapsulation technology for solar modules.
Advanced encapsulation technologies replace gaps between solar cells and improve PV module efficiency while incorporating modular designs. By using advanced packaging technologies, companies can increase their business and gain a competitive advantage in the market.
For example, in May 2019, LONGi Solar, a Chinese global leader in solar technology, developed “Seamless Soldering” module encapsulation technology, which eliminates the gap between cells and increases the efficiency of PV modules. “Seamless Soldering” technology combined with innovative technologies, the module design has the potential to break LONGi Solar’s high-efficiency PERC module power record of 500Wp.
This technology uses solder tape to achieve a “tiled” cell interconnect, eliminating the typical 2mm wide cell gap, increasing efficiency while reducing module BOM costs. This technology works seamlessly with existing module encapsulation processes and equipment. It has a high level of maturity and mass production stability, as well as scalability.
In October 2020, Mitsubishi Chemical Corporation, a Japanese company that supports foundations of all types of industries with a wide range of products ranging from materials to functional products, acquired Gelest Inc., for an undisclosed amount. With this acquisition, Mitsubishi Chemical will use each organization’s technology and skills to improve customer value and business performance. Gelest Inc. is a United States-based company that offers a variety of precursors for different types of solar cells as well as anti-reflective and surface modification coatings.
The countries covered in the Solar Encapsulation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea , the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06317626/?utm_source=GNW
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