Solar PV Backsheet Market projected to grow between 2017 and 2023
The report published by Knowledge Sourcing Intelligence titled “Solar PV Backsheet Market- Forecast From 2018 to 2023” studies the various factors affecting the demand for solar PV backsheets across the globe. The report has been segmented by type (fluoropolymer-based, polyester-based), installation (rooftop, ground-mounted, floating), application (residential, commercial, industrial), and by geography, covering five regions namely North America, South America, Europe, Middle East and Africa and the Asia Pacific, and some of the major economies in each of these regions.
A solar panel backsheet is the last layer at the bottom of the solar panel and is typically made of a polymer or a combination of polymers. These sheets act as an electrical insulator and protect solar cells from humidity and harsh environments which guarantees the solar panel’s durability and better functioning over time. The growing shift towards renewable energy solutions is the major driver of the solar PV backsheet market. Favorable government policies and initiatives to increase the installation of rooftop solar panels are also driving the demand for solar PV backsheet market. High investments in floating solar projects will continue to bolster the growth of the solar PV backsheet market throughout the forecast period. However, an oversupply of solar panels and changes in China’s national solar policies are restraining the growth of the solar PV backsheet market.
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Floating solar panel projects in demand
By installation, solar PV backsheet is segmented as rooftop, ground-mounted, and floating. Floating solar panel segment is projected to witness a significant market growth during the forecast period. According to the report prepared by the World Bank and Solar Energy Research Institute of Singapore (SERIS), global floating solar installations reached 1.1GW in September 2018 from 10MW at the end of 2014. Floating PV can significantly boost plant capacity by covering just small areas of reservoirs created by hydropower plants. Burgeoning population and increasing urbanization are creating growth opportunities for manufacturers of floating solar panels, thus positively impacting the demand for solar PV backsheets across this segment.
APAC leads the global solar PV backsheet market
Geographically, the solar PV backsheet market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. China is the world’s largest producer of solar energy which positively impacts the growth of overall APAC solar PV backsheet market. The rising number of floating solar panel projects in Southeast Asia, China, and India, and the rapid rise in investments, both public and private, to deploy solar panels supported by the presence of major solar panel manufacturers will further propel the growth of solar PV backsheet market in APAC throughout the forecast period.
This report also includes a study of strategies and product portfolios of some of the leading companies in the solar PV backsheet market. It consists of company profiles of the leading companies such as Coveme, DUNMORE, Targray, DuPont, KREMPEL GmbH, 3M, Agfa-Gevaert Group, LG Chem, and BioSolar, Inc.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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