The global photovoltaic
materials market is expected to reach USD 36.23 billion by 2025,
according to a new report by Grand View Research, Inc. The growing PV
installations coupled with rise in module manufacturing facilities in Asia
Pacific is driving market demand.
The demand for photovoltaic materials is the highest
in the construction of solar cell. The growing number of PV projects
commissioned by the government is boosting the consumption. The government
incentive offered on building integrated photovoltaics is expected to further
augment market demand.
Asia Pacific accounted for the maximum market share
owing to the presence of a large number of module manufacturers in China and
India. The slowdown in the Chinese manufacturing sector due to sanctions
imposed by the government is expected to force module manufacturers to turn
towards other developing countries. The growing exports of solar cells from
Asia Pacific to North America and Europe are expected to have a positive impact
on market demand.
Browse full research report on Photovoltaic Materials Market: www.grandviewresearch.com/industry-analysis/photovoltaic-pv-materials-market
Further
key findings from the report suggest:
- Polycrystalline silicon dominated the material segmentation with a
market share of 62% in 2016.
- Copper Indium Gallium Selenide material segment is projected to
grow at a CAGR of 13.3% from 2017 to 2025 owing to research on new
materials to be used in the construction of solar cell.
- Encapsulant products are anticipated to grow at a CAGR of 11.8%
from 2017 to 2025 due to high demand for these products in thin film and
silicon wafer modules
- Europe market share is expected to decrease to around 14% in 2025
owing to growing exports of PV modules from Asia Pacific.
- Middle East & Africa is anticipated to grow at a CAGR of 8%
from 2017 to 2025 owing to governments in these regions investing heavily
in solar PV installations.
- The industry participants are engaged in research on new materials
used in the manufacturing of solar cells.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/renewable-energy
Grand
View Research has segmented the global photovoltaic materials market on the
basis of material, product, application and region:
Material
Outlook (Revenue, USD Million, 2014 - 2025)
- Polycrystalline
Silicon
- Monocrystalline
Silicon
- Cadmium
Telluride
- Copper Indium
Gallium Selenide (CIGS)
- Others
Product
Outlook (Revenue, USD Million, 2014 - 2025)
- Front Sheet
- Encapsulant
- Back Sheet
- Others
Application
Outlook (Revenue, USD Million, 2014 - 2025)
- Utility
- Residential
- Non-residential
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- Spain
- Asia Pacific
- China
- India
- Japan
- Central &
South Africa
- Brazil
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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